Early upgrade programs are a big thing in wireless right now, and T-Mobile was the first to get the bandwagon rolling. As part of its ‘Uncarrier’ makeover of 2013, the carrier revealed its JUMP! plans in July of last year (‘JUMP’ being an acronym for ‘Just Upgrade My Phone’).
The JUMP! plan lets customers pay extra each month to be able to upgrade their device sooner and more frequently. But underneath all the marketing hype, is the program really worth it?
We've compared the pros and cons of going with JUMP!, versus sticking to a T-Mobile financing plan without the early upgrade extras.
T-Mobile's Equipment Installment Plan
Because all its plans are contract-free (so the usual two years of cell service to help pay off your device doesn’t apply), T-Mobile gives its customers two options for buying a new cell phone. Customers can either pay full price upfront, and only pay their monthly plan fee going forward (and can cancel any time with no more to pay), or opt for T-Mobile’s Equipment Installment Plan.
Pick this option, and you can take your phone home for $0 down, paying the balance off in 24 equal monthly payments over the next two years. Depending on the handset, you’re looking at an additional $20 - $30 per month on top of your plan cost.
However, if you don’t add on JUMP! enrolment, you won’t be able to upgrade to a new device until your phone’s balance is paid off (so in two years’ time, assuming you stick to the recommended monthly repayment schedule).
T-Mobile's JUMP! at a glance:
| Monthly fee | $10 |
|---|---|
| Repayment period | 24 months |
| Upgrades | Any time, provided that 50% of the handset's full price has been repaid. |
| Subsidy still included in service plan? | No |
| Device downpayment required? | Yes |
| Insurance included? | Yes |
| Available for all plans? | Yes |
| Available from | February 23 2014 |
Unlike early upgrade programs from rivals Verizon and AT&T, JUMP! works as a separate service from T-Mobile's Simple Choice Plan and Equipment Installment options. No matter which plan or device you select, you'll only pay an extra $10 per month to join JUMP!, and $240 in total over two years.
Customers who sign up for JUMP! can upgrade immediately, as long as they've paid at least half of their phone's full price. There's no limit on how many upgrades a customer can make - so you're free to go wild and upgrade all you like, provided you're prepared to pay half the full price of each phone you select.
But in order to keep an EIP-financed device enrolled in JUMP!, or cancel the JUMP! plan altogether, you'll need to make enough payments to cover 100% of the phone's full retail price - a process which will usually take 24 months. However, T-Mobile says that it will allow customers to make extra device payments in order to upgrade, own their device or cancel service sooner.
What you'll pay: JUMP! vs. EIP vs. buying upfront
The below screenshot will help you to compare how much it will cost you to buy our example phone, the 16GB Samsung Galaxy S5, with and without JUMP! plans (on a $50 Simple Choice Plan).
We've also included what you'll pay over two years if you decide to buy the same handset outright without a financing or upgrade plan.
Things to remember
It's important to note that no matter which phone and plan combination you choose, you'll always pay $240 more over two years on JUMP! than you would for the same phone and plan without an early upgrade option.
A definite plus for T-Mobile customers is that JUMP! is the only early upgrade plan to include cell phone insurance. Your $10 fee each month will cover your phone for loss, theft or accidental damage, and protect your phone's data and apps, with T-Mobile's Premium Handset Protection and Lookout Mobile Security. Without JUMP!, these products cost $8 and $4 per month respectively.
There’s no obligation to stay with JUMP! once you’ve signed on, and you can cancel the service at any time and continue with your T-Mobile plan as normal. However, you won’t be able to re-enrol until you purchase a new device.
JUMP! is available to all new and existing customers on Simple Choice plans within 14 days of purchase of a new T-Mobile phone.
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