Verizon to increase rates on older unlimited plans in the coming month

Verizon to increase rates on older unlimited plans in the coming month

Verizon Raises Rates on Older Unlimited Plans

Are you still holding onto that old Verizon unlimited plan? Well, the carrier has some news for you. Starting on August 29, Verizon will be increasing the rates for its Go, Beyond, Above, and 5G Start unlimited plans by $3 per line, per month. It seems like Verizon really wants its customers to switch to its newer, and potentially pricier, options.

For those on the Go and Beyond plans, this rate hike affects customers who had the later versions of these plans, referred to as “Go Unlimited 2.0” and “Beyond Unlimited 2.0” by Verizon. The earlier “1.0” versions of these plans had their own price increases announced back in February. This means that now, the rates for all versions of these plans will be going up.

According to a support page on Verizon’s website, the increased fee will appear on customers’ bills as a “Plan Rate Adjustment.” In addition to the rate increase, customers with basic phones on their accounts will see their bills go up by $5 per month, per line.

Verizon emphasizes that its newer plans will not be impacted by this rate hike. In May, the company revamped its lineup, simplifying its offering to two main unlimited plans. As part of this revamp, Verizon also stopped including perks like the Disney Bundle (which includes Disney Plus, ESPN Plus, and Hulu) in its plans.

A Verizon spokesperson stated that the rate increase is necessary for the carrier to “continue improving our industry-leading network and services.” The spokesperson also added that affected customers will be notified of the new plan rate adjustment through email, direct mail, and in their next bill. Additionally, the spokesperson encouraged customers to switch to the new Unlimited Plus or Unlimited Welcome plan at any time to enjoy even more value and perks of their choice.

This recent rate increase is part of Verizon’s ongoing efforts to maximize revenue from its existing customer base. Despite losing customers in its consumer division during the most recent quarter, Verizon reported a 3.5% increase in revenue thanks to higher average revenue per account. In fact, Verizon’s earnings release attributed the revenue increase to “pricing actions implemented in recent quarters” as well as an increase in wireless broadband subscribers.

While Verizon is not alone in raising rates on older plans, AT&T has also been making similar moves. Just this week, AT&T informed its users that it will be raising the price on its older Unlimited Elite plan starting next month.

Although rate increases are never welcome news, it’s important to remember that the telecom industry is constantly evolving. As carriers invest in expanding and improving their networks, it becomes necessary for them to adjust pricing in order to cover the costs. While these changes may inconvenience some customers, carriers like Verizon are also striving to offer new, value-packed plans to entice customers to switch.

So, if you find yourself impacted by Verizon’s rate increase, take the time to explore their new Unlimited Plus or Unlimited Welcome plans. You might be pleasantly surprised by the additional perks and benefits they offer.