I'm sure that you've noticed monthly cellphone bills have skyrocketed over the last few years. It's not just your mobile plan that's gouging your pocketbook. You're probably also making monthly installment payments on all of your gadgets.
A family of four could be paying up to hundreds of dollars per month. Yikes!
With these bills costing so much each month, little charges and fees most likely go unnoticed. Well, that's exactly what AT&T is counting on. The telecom giant just came up with a sneaky way to pocket a fortune.
AT&T's sly billion-dollar move
In a devious move, AT&T is raising the administrative fee that gets tacked onto your phone bill each month. The fee is going from 76 cents every month to $1.99.
Now that doesn't sound like a ton of money, but if you do the math it really is. There are around 64 and a half million AT&T Wireless customers. When you multiply the additional fee for each customer, $1.26, over a full year it comes out to just under a billion dollars in added revenue. Wow!
That's why it's always a good idea as a consumer to meticulously go over your monthly bills. If a company is nickel and diming you with fees, you might want to go ahead and look at changing providers.
But make sure that you do plenty of research before making the move. The other companies could be charging the same type of fees, and even more. You don't want to end up paying for an even higher plan in the long run.
This price hike could be a result of the AT&T/Time Warner merger. Earlier this week it announced a low-cost streaming alternative to DirecTV as another merger result.
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