T-Mobile (NYSE: TMUS) Will Pay Your Penalty If You Make the Switch - Technology | Financial Buzz

T-Mobile (NYSE: TMUS) Will Pay Your Penalty If You Make the Switch

AT&TJust last week, AT&T (NYSE: T) announced that they will pay up to $450 for customers to switch from T-Mobile (NYSE: TMUS). T-Mobile responded yesterday at the Consumer Electronic Show (CES). T-Mobile will offer to pay for customer’s early termination fee if they switch from a rival phone carrier company. The company is now targeting Sprint (NYSE: S), Verizon (NYSE: VZ), and of course AT&T.

So here are the details. As of yesterday, you are able to head to any authorized T-Mobile location and trade in your current phone device for up to $300 in credit, you would have to switch to a Simple Choice Plan. Consumers will have the option of purchasing a T-Mobile device or finance a device over the course of 24 months with no interest. T-Mobile will cover your early termination fee up to 5 lines and up to $350 per line. When you receive your final bill, verify your termination by mailing it to T-Mobile or upload it to www.switch2tmobile.com, and you will receive MasterCard (NYSE: MA) debit card equal to the fees.

T-Mobile is keeping their competition on their toes. The company has been making moves over the course of 2013, and it seems to have been working. The company received over 1.6 million new subscriber in the fourth quarter compared to a loss 32,000 the year prior. T-Mobile shares has increased over 77% throughout the year. If you are thinking about switching to a new carrier, here is your chance for no money out of your own pocket. As CEO John Legere calls it, a “Get out of jail free” card.