Verizon says two-year contracts aren't going anywhere for existing customers

Following in the footsteps of T-Mobile, Verizon recently announced that it was putting the kibosh on two-year contracts altogether. When Big Red first made the announcement, though, there were a number of notable details missing, namely what would happen to existing two-year contract customers when their plans were up. Now Verizon is offering up some clarification that discusses what new and existing customers will and won’t be able to accomplish with the carrier’s new “simplified” plans.

To answer one of the most prominent questions about these new plans, Verizon says that existing customers on a two-year contract will be able to upgrade to another two-year contract if they wish. This means existing contract customers can still get the latest and greatest smartphones at a subsidized price instead of being forced to finance the smartphone or pay full price. The carrier is letting current customers stay on these two-year long contracts as long as they wish, though once a customer switches to one of the new Verizon plans, there’s no turning back.

Verizon’s new plans consist of unlimited talk and text, as well as 1GB of data for $30 per month, 3B of data for $45 per month, 6GB for $60 per month and 12GB for $80 per month. Larger plans still exist as well, but will require you to ask Verizon directly for a quote. You’ll still need to pay a monthly line access charge, though it’s only $20 per line.

There are a few more details that Verizon talked about in its blog post, so if you’re interested, head to the source link below for more information.