Apr 08 AT 9:42 AM Nick Sarafolean 0 Comments

Cricket launches three tiers of device payment plans for everyone

newcricketboxes

Cricket Wireless has announced that it is starting a device payment plan system for all of its off-contract devices. Rather than using the de facto system of simply spreading the phone’s payments over 24 months, Cricket has compiled three tiers of ways to finance your device, designed to work for people in all different situations. Here’s how the three options break down:

  • Tier I: Finance your device with an initial loan payment of $19.99 and 0% interest for 24 months. This option requires approval through a standard credit bureau check, and accessories and tax may be included in the loan.
  • Tier II: Finance your device with an initial loan payment of $19.99 and six-month deferred interest offer and 29.99% APR for an 18 month term. Customers pay no interest if the purchase amount is paid off within 6 months. If the loan is not paid off within 6 months, all accrued interest from the date of purchase is billed to the account. Monthly payments for this option are determined by the amount of the loan. This option also requires approval through a standard credit bureau check. Accessories and tax may be included in the loan.
  • Tier III: This rent-to-own leasing option is equivalent to 90 Days same as cash. That means, a customer can purchase a premium device with $49.99 initial rental payment, pay the remaining balance in installments over a 90-day period, and not incur any interest at all – just like you paid for your device upfront. This option requires no credit check, but a third party may be used to verify financial information.

The options are a bit confusing, and certainly not as simple as Sprint and T-Mobile’s approach of doing a credit check and, if approved, letting you walk out of the store with the phone in hand and then paying for your device in equal installments over 24 months. We’re a bit baffled as to why Tier II even exists, as it doesn’t make sense to choose it over either of the other options. Still, a confused customer is likely to pay more for less, which is likely what Cricket is looking for.

The payments plans work for any of Cricket’s phones, including the upcoming Galaxy S6. Stop in to your local Cricket store or head online for more details.

Show Press Release
ATLANTA, April 8, 2015 /PRNewswire/ – Cricket Wireless today announces the launch of its new Phone Payment Plans*, designed to help customers get the latest, premium devices like the upcoming Samsung Galaxy S®6, even faster – without breaking their budget. Cricket is the first national prepaid wireless carrier that offers three distinct credit financing options including a rent-to-own leasing option for qualified customers – all with no annual contract.

Cricket’s Phone Payment Plans give consumers some of the most flexible pay options in the industry. Walk into any participating Cricket location and, if qualified and approved, walk out with the phone you want for as little as $19.99 down, plus taxes and fees, and a payment plan you can afford.

  • Tier I: Finance your device with an initial loan payment of $19.99 and 0% interest for 24 months. This option requires approval through a standard credit bureau check, and accessories and tax may be included in the loan.
  • Tier II: Finance your device with an initial loan payment of $19.99 and six-month deferred interest offer and 29.99% APR for an 18 month term. Customers pay no interest if the purchase amount is paid off within 6 months. If the loan is not paid off within 6 months, all accrued interest from the date of purchase is billed to the account. Monthly payments for this option are determined by the amount of the loan. This option also requires approval through a standard credit bureau check. Accessories and tax may be included in the loan.
  • Tier III: This rent-to-own leasing option is equivalent to 90 Days same as cash. That means, a customer can purchase a premium device with $49.99 initial rental payment, pay the remaining balance in installments over a 90-day period, and not incur any interest at all – just like you paid for your device upfront. This option requires no credit check, but a third party may be used to verify financial information.

“At Cricket, we know consumers want to get the latest devices – either for themselves or as gifts – but aren’t always sure if they can fit it in their budget,” said Janna Ducich, vice president and chief marketing officer, Cricket Wireless. “The Cricket Phone Payment Plans were created to simplify financing and make it quicker and more affordable to get the premium devices you want and need, when you want and need them.”

Any phone from Cricket priced at or over $199.99, including the upcoming Samsung S6, and the popular ZTE Grand X Max+, qualifies for the new Phone Payment Plans. A maximum of five devices may be financed per account and customers can also add accessories to their plan after the purchase of a qualifying device.

Switching is Easy Too

For a limited time, Cricket is also offering customers who switch from T-Mobile, Metro-PCS, Sprint, Boost, and others 1 free month** of service after completing two months of service. This applies to customers who select the $50 or $60 monthly rate plan.

Cricket offers its customers more generous high-speed data access allotments, apples-to-apples, than other prepaid carriers. This makes Cricket’s wireless plans more affordable so customers can spend their hard-earned money on things that matter to them. Cricket’s Basic, Smart, and Pro plans are $35, $45 and $55 each, after a $5 monthly Auto Pay credit. Plus, unlimited calling and messaging to Mexico from the U.S. is included on the Smart and Pro plans.

To check out the new Cricket or find a store near you, visit www.cricketwireless.com. Connect with us on Facebook at facebook.com/cricketnation and Twitter at twitter.com/cricketnation. For news, information about events and other press materials about Cricket, visit the new Cricket Wireless Newsroom.

Source: Cricket Wireless

A nerd at heart, Nick is an average person who has a passion for all things electronic. When not spending his time writing about the latest gadgets, Nick enjoys reading, dabbling in photography, and experimenting with anything and everything coffee. Should you wish to know more about him, you can follow him on Twitter @Zricon15.

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