Cricket now offering three payment plans for new phone buyers
Tier one allows you to put down $19.99 and pay the remainder over 24 months with no interest. This plan requires a credit check and accessories and tax can be folded into the loan. Tier two also requires a down payment of $19.99. If the balance of the phone's cost is paid off within 6 months, there is no interest charged. If you take more than 6 months, you have to pay off the rest of the phone's cost in 18 months with a 29.99% APR. Monthly payments are determined by the amount of the loan and a credit check is required.
Tier three is similar to "rent-to-own" with a $49.99 payment allowing the customer to rent a phone for 90 days. The balance is paid in installments over a 90-day period. If the balance is all paid off in that period, no interest is charged. There is no credit check with this plan, although a third period could be used to verify financial information.
Cricket is also giving a free month to those who jump to the carrier from T-Mobile, MetroPCS, Sprint, Boost, and others. The free month comes after two months are paid for. To qualify, you need to sign up for either the $50 or $60 a month plan.