Mobile phone users are set for significant contract changes, with many overpaying and needing to act quickly to save money.
London: So, here’s the scoop. A lot of mobile phone users are in for a big shake-up this week. Apparently, a third of folks are out of contract and paying around 25% more than they should be. Ben Boulos from the BBC was chatting about it on breakfast TV, saying it’s time to take action.
Starting this Friday, all the major mobile operators like O2, Virgin Media, and Vodafone can’t raise prices mid-contract anymore based on inflation. January is a busy month for new phones, and about 1.6 million contracts are set to expire soon.
Ben mentioned that if you’re one of those out-of-contract users, you’re not alone. A lot of broadband customers are in the same boat. If you’re not locked into a new deal, your bills could be about 18% higher than those who are. Yikes!
Ernest Doku from Uswitch chimed in, saying that 12 or 24 months can feel like forever. When your contract ends, the mobile market can change a lot. So, it’s super important to check what you’re paying and see what deals are out there. Even your current provider might have some sweet retention offers to keep you around.
Ben also pointed out that from Friday, surprise price hikes during contracts are a no-go. You’ll know upfront what your costs will be, which is a nice change. No more sneaky inflation add-ons without a heads-up!
He advised everyone to shop around and keep an eye on their contracts. Previously, companies could raise prices every April, which hit many people hard last year. But Martin Lewis, the consumer expert, reminded us that this new rule mainly helps new and renewing contracts. So, there’s still a chance for future price hikes.
He said if they don’t give you the exact price increase, you can leave without penalty. You’ve got 30 days to make a move. So, if you want to switch or negotiate, now’s your chance!
