The prepaid plan wars are starting and we consumers are going to benefit. As Straight Talk and their prepaid plans continue to attract customers, other providers are now trying to stem the tide of losing clients.Boost Mobile, an off shoot from Sprint has added what they describe is ‘shrinkage’ to their offering. Here is how it works. Every six months that you pay your bill on time, your monthly fee is reduced by $5. If you pay every month on time for 18 months, your plan fee drops to only $35 a month for unlimited talk, text and surfing. Below is a graph that shows how the ‘shrinkage’ system works:
How Shrinkage works
|Monthly Payment Amount|
|Monthly||Total 12 On-|
|Payment||6 On-Time||Time||Total 18 On-|
|Monthly Unlimited with Shrinkage||$50||$45||$40||$35|
|BlackBerry Monthly Unlimited with Shrinkage||$60||$55||$50||$45|
In addition a recent article also stated that:
Shrinkage is available with Boost Mobile Monthly Unlimited and BlackBerry Monthly Unlimited plans. As of Oct. 14, existing Boost Mobile customers simply go to www.boostmobile.com or call 1-888-BOOST-4U to sign up for Shrinkage. New customers coming to Boost on the $50 or the $60 BlackBerry Monthly Unlimited plans as of Oct. 14 will automatically be part of Monthly Unlimited with Shrinkage.
A customer’s on-time monthly payment date is the same day each month and each on-time payment moves the customer’s monthly cost toward the lower amounts. Consumers who miss their monthly payment date will not be penalized; they will not lose any on-time payments accrued toward the next Shrinkage payment milestone or lose any reduced monthly payment already achieved.
If you are a Boost Mobile customer, I would give them a call and sign up for this offer.
Tracefone, which owns Straight Talk, Net 10 and Safelink now claims 15 million US subscribers. But this one statement came as a surprise to me:
TracFone Wireless is a subsidiary of América Móvil S.A.B. de C.V. (“AMX”) (BMV: AMX; NYSE: AMX; Nasdaq: AMOV; LATIBEX: XAMXL), the fourth largest cell phone company in the world and the largest in all of the Americas with more than 200 million cell phone subscribers.