T-Mobile made some serious moves in the past few weeks with their contract-less “UnCarrier” plans, and other U.S. carriers have taken notice, like Verizon whose CEO admitted the company was considering a similar idea, but are waiting to see how it first works out for T-Mobile. It looks like Verizon may be dipping their toes into the no-contract-plans water as today they’re announcing some new prepaid plans.

Verizon’s new prepaid plan asks customers to pony up $35 a month for 500 anytime minutes of talk and unlimited text and Internet. For those who exceed the monthly limit of 500 minutes of talk, Verizon will charge you an additional fee of $0.25 per minute. Sounds too good to be true, right? Well – it is, as Verizon is limiting what phones can use its new prepaid plans as only four feature phones would be eligible, so smartphone users are excluded from this plan. Verizon is also not including mobile-to-mobile calling, which means calling another Verizon subscriber will count towards your minutes.

Verizon’s newest prepaid plan is certainly a step in the right direction, but it’s still severely limited. Hopefully its success won’t help in dictating whether or not Verizon should enter the no-contract game as we can’t see this plan doing as well as other plans.

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