New year, same Verizon: users may be hit with couple of price hikes as soon as this month

New year, same Verizon: users may be hit with couple of price hikes as soon as this month،

Once acquired, bad habits are difficult to break and Verizon seems to be struggling with them. In 2023, the company is increasing its prices twice and it's barely 2024, and a rumor has already circulated that the carrier is going to increase its prices again.

Reliable people from The mobile report learned from a reliable source that Verizon Customers should prepare for some impending price increases.

First, the Economic Adjustment Fee, which was introduced in June 2022, will increase from $0.99 to $3.97 for each smartphone and data device on a plan that meets specific criteria.

It looks like Verizon wants to charge this fee on each line. The fee applies to all new smartphones and data devices and will be added if you upgrade an existing line that previously didn't have one. Likewise, it will be added if a line's contract expires. Finally, fees will start to apply if your device has a payment plan of 12 months or less.

In short, the Economic Adjustment Fee is now nearly impossible to avoid, and the only devices spared from the new rate are basic phones and tablets, for which the rate is still $0.98 per line.

But that's not all. The report said that starting January 23, the prices of some existing plans will also increase. The amount of the increase will depend on the plan. This change will have an impact on individual and business accounts.

Pricing will increase by $5 per month for the Business Unlimited Smartphone Plan, Business Unlimited Essentials Plan, and Business Unlimited Plus Plan.

Users on the new Verizon Plan, flexible and new business plan Verizon Plan for Business Plan must be prepared to pay $4 more each month.

Although, fortunately, only a few plans will be affected, the increase in fees is inevitable. Fees will take effect when you activate a line, upgrade to a new device or terminate a contract.

At this point, it's just a rumor, but if it eventually comes to fruition, it will surely draw the ire of customers. After all, it was only in October that Verizon boasted of its strong financial performance in the third quarter of 2023, the price increase therefore seems unjustified and appears as nothing more than a means of Verizon to earn even more money.