Verizon details its new device payment plan

Announced by Verizon, now qualified Verizon customers will have the opportunity to purchase phones or tablets at full retail price, but spread the cost of that device out over a 12-month period.

Here are the details:

• Full retail priced smartphone or tablet price must be a minimum of $349.99.
• Pay for the full retail priced smartphone or tablet in 12 payments.
• Finance charge of $24, which is just $2 per installment.
• Device Payment Plan customers can take advantage of Share Everything pricing and data sharing.
• First payment, including $2 finance charge, due at time of purchase. Your next payment will appear on your next Verizon Wireless bill.1
• Feel free to pay off the full balance of your new full retail priced smartphone or tablet anytime you want.
• Maximum of two open Installment Plans per customer, subject to credit approval.
• $1000 combined Installment Plan balance limit per customer.

Source: Verizon