T-Mobile may extend phone payment plans to 36 months

T-Mobile might soon let customers pay for phones over 36 months instead of the current 24 months, according to a recent report. This change would make T-Mobile’s payment plans similar to those of AT&T and Verizon, who switched to three-year plans about four years ago. The longer payment period could mean smaller monthly bills, which might appeal to people planning to stick with T-Mobile for a while.

A leaked document suggests T-Mobile is considering 36-month Equipment Installment Plans (EIPs) for some devices, though it’s unclear which ones. The company briefly tested longer plans, but the change hasn’t fully rolled out yet. It could happen soon, as the test wasn’t a mistake. This move might help T-Mobile keep customers longer, as people would be tied to payments for an extra year.

Since many Americans keep their phones for over two and a half years, a three-year plan could make sense for some. However, this change has upsides and downsides. Smaller monthly payments could make pricey phones more affordable, but it also means customers are locked into T-Mobile for longer.

If you want to switch carriers before the phone is paid off, you’d need to settle the remaining balance. For now, T-Mobile is the only major carrier still offering 24-month plans, so this shift could bring it in line with competitors. Keep an eye out for updates, as this could change how you buy your next phone.