New Cricket handset financing options now available
Now that AT&T has officially launched Cricket Wireless last Sunday and started selling prepaid service plans and handsets GSM-based, the company has decided to help customers in purchasing more expensive handsets by offering handset financing plans. New Cricket handset financing options are available since Sunday, according to Fierce Wireless that confirmed this information with Cricket. There are three options available and all three are for devices priced at $149.98 and higher. The plans provide:
- Interest-free payments for 24 months, customer pays minimum of 4.16% of phone’s cost per month
- After 6 months deferred interest, customer pays minimum of 5.4% of phone’s cost per month for 24 months (29.99% APR interest)
- 12-month lease. At the end of 12-month period, customer owns the phone. If customer pays off the lease during the first 90 days, he/she will get the phone interest-free (90-day same-as-cash payoff)
Which financing option is available to customers depends on their credit scores. Also these plans are only for handset purchase, not accessories.
Currently, AT&T’s Cricket offers financing plans only in stores that belonged to old Cricket, not the ones that were Aio’s and not online. Eventually, the Cricket will start offering them at all their stores.
AT&T’s Cricket is not the only one in prepaid phone market to offer financing options in order to help customers pay for more expensive handsets. Old CDMA Cricket Wireless used to offer Phone Payment plan, as well as Virgin Mobile, Consumer Cellular, MetroPCS and most recently U.S. Cellular.