Each year, new evolutions of popular brands of smartphones emerge. As well as a general increase in specs and features, these newer phones seemingly come with an increase in price on the previous model too. As such, the newest and best smartphones come with some sky high prices out of the box. Especially, if you are on a prepaid option. That is one of the reason why carriers like Sprint and T-Mobile have quite purposely pushed forward their various leasing options. Helping those that do not want to pay a large sum upfront to get hold of one of the latest devices. Well, it seems Cricket Wireless are not intending on missing out on the leasing/deferred payments market and have today announced the launch of their own methods to help customers obtain the latest smartphones, with little to nothing up front. In fact, Cricket wireless have today announced the launch of three deferred payment options in the form of Tier I, Tier II and Tier III. Each other a slightly different variation on how you can finance a new smartphone and apply to any devices priced at $199.99 or higher and includes their recently announced carrying of the Samsung Galaxy S6
In terms of Tier 1, the details state a new device can be purchased with a down-payment of $19.99 and then equal payments over 24 months. This is pretty much similar to what is commonly offered by other carriers and is the 0% interest option. Although, this one does require a credit check. In contrast, Tier II does come with an APR of 29.99% over an 18 month period. However, with the same $19.99 upfront, customers receive the APR as deferred, for the first six months. Meaning, if the customer pays off for the device fully in the first six months, they will not have to pay any interest. However, after the six month period expires, all of the interest (from the date of purchase) is accrued and added to the outstanding bill. Lastly, Tier III offers customers the ability to pay off for a device over 90 days. Using this option, customer can purchase the device with an initial $49.99 payment. Following which, they have the ninety day period to complete the full price of the device and if completed, will not pay any interest. Interestingly, this option does not require a credit check although Cricket do state that a “third party may be used to verify financial information.”
As a final incentive to swap to Cricket, it was also announced that customers who switch from other carriers and MVNOs including T-Mobile, MetroPCS, Sprint and Boost will receive one month’s service for free. However, this only applies to those on select $50 and $60 plans and relates to the third month of service being free. You have to complete two months service first before you can receive the free month. You can read the full press release for further details by clicking the source link below.