T-Mobile recently announced a new plan to allow cell phone customers to purchase phones on a monthly installment plan, an attempt to work around crippling credit and cash flow conditions that have taken a big bite out of cell phone sales and service plans in recent months. According to T-Mobile spokeswoman Shelby Finn, “We have recently launched our Equipment Installment Plan, which enables qualified customers (current or new) to pay for handsets and accessories over four monthly installment payments.

This plan will provide more flexibility for customers when choosing a new handset.” Customers who take advantage of the plan will be charged no additional interest charges, no start-up fees, and no finance charges. T-Mobile announced the plan in addition to a decision to cancel its handset upgrade fees, as cell phone manufacturers and service providers all scramble to corner a rapidly disappearing market. T-Mobile hopes that the credit work-around will make it the provider of choice for customers who don’t want to give up their phones just because credit is very tight.

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Tags: Business, Cell phone plans, Installment, T-Mobile, T-Mobile