This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MetroPCS, Cricket Offer Financing for High-End Phones

NEW YORK (TheStreet) - As smartphones get larger and more sophisticated, handset prices are increasing accordingly. Passing that price along to consumers is somewhat easy for large carriers. But, smaller ones, the "no contract" providers with low monthly service charges who make you pay for your new phone upfront - their high-end sales are hurting.

So, two of those companies, MetroPCS (PCS) and Cricket, a division of Leap Wireless (LEAP), are offering slightly different short-term financing plans for customers who want to own bigger/better/higher-priced models. For instance, the Samsung Galaxy S III, which is currently selling at the sale price of $399 on MetroPCS' Web site.

The idea is similar to larger carrier T-Mobile's "Value" plans - the big difference being T-Mobile requires you also sign a two-year service agreement. Listen carefully to its new TV ads, where T-Mobile boasts that new phones "start" at low advertised prices.

MetroPCS will let you have up to 60 days to pay off the price of any of its new 4G LTE phones. The short-term loan doesn't come cheap. The company handling the financing, Billfloat, will lend you the money at APR rates as high as 36%, along with a service charge between $9 and $18.

Cricket offers financial help with phones that retail for more than $200. The carrier will let you finance up to 90% of the charges for as long as nine months, but will waive interest charges if you pay everything within the first 90 days.

Cricket has also launched its own 4G LTE network in a handful of cities, including Philadelphia, Phoenix, Houston, San Antonio and Austin.

--Written by Gary Krakow in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

Gary Krakow is TheStreet's senior technology correspondent.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,086.63 -26.91 -0.16%
S&P 500 1,987.01 +3.48 0.18%
NASDAQ 4,473.6970 +17.6810 0.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs