Verizon officially launched its new Device Payment Plan today, an option more and more of its customers seem to be clamoring for, especially now that T-Mobile has allegedly "killed" its own smartphone contracts. In an ideal world, Verizon would respond in kind with interest-free, 2-year financing of any smartphone you want, contract-free on your existing plan, subject to credit approval. The reality is a little more complex, something I think most people kind of expected.

Here are the key takeaways for Verizon's new plan:

  • You can finance any smartphone or tablet over $349.99 MSRP, up to $1000 total credit available for each customer (meaning account, not line), subject to credit approval.
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