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T-Mobile introduces recession-busting handset installment plan

February 2nd, 2009 at 2:31 PM

Looking to grab a new T-Mobile handset, but can’t quite scrape together the requisite cash? Well, the budget-minded carrier has introduced a new payment plan that allows “qualified” new and existing customers to purchase new handsets and pay for them over the course of 4 equal installments. The process involves setting up a formal line of credit with the carrier that allows for repayment of the handset’s purchase price over the course of 4 months. There’s no word as to just what makes a customer “qualified” for the privilege of participating, but we’re guessing that good-excellent credit standing is a pretty solid requirement. The interesting part is that, unlike most layaway/installment plan options, T-Mobile’s plan doesn’t charge any additional fees or interest over the course of the 4 months. We assume that there’s some sort of fee incurred if you fail to make one or more payments, but for anyone looking to buy into a more expensive handset without the size able upfront cost, this is probably a pretty appealing new option. Hey, T-Mobile, this is one of the smartest things you’ve done in a very long, long time. Now let’s see if the other major 3 follow suit…


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