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T-Mobile will pay off your iPhone if you make the switch

How much money do you owe on your iPhone? $100? $500? $750? More?

Don’t sweat it. Now you can have it paid off in full with almost no catches. The same goes for Google’s Pixel. If you owe money on it, you can have the whole balance paid off.

Here’s how it works: T-Mobile will pay your iPhone or Pixel balance if you’re a Verizon customer. Bonus: Keep reading if you’re an AT&T or Sprint customer.

T-Mobile’s promotion starts May 31. The offer is good if you have an iPhone 7 or 7 Plus, 6s or 6s Plus, iPhone SE, Pixel or Pixel XL.

If you switch to T-Mobile, the company will reimburse you with a pre-paid digital MasterCard. For example, if you owe $500 on your iPhone, you pay that off. Whatever that balance is, T-Mobile will reimburse you for it. It will take up to a month to get the MasterCard.

T-Mobile will have you sign up for their $15-per-month insurance. That policy covers loss and damage to your phone, among other things.

AT&T and Sprint

If you have an iPhone or Pixel and you’re an AT&T or Sprint subscriber, T-Mobile will also pay off your balance. This offer is different from the Verizon deal, though.

When you switch, T-Mobile will pay your balance and let you keep your iPhone or Pixel. You can sell your old phones. However, you will need to finance a new phone with T-Mobile.

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