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  1. #1

    T-Mobile Jump Review: Know The Credit Requirements Before You Sign Up

    Last Updated: 10/2/2015

    If you feel like two years is too long to wait to upgrade your phone, T-Mobile is one of three popular carriers that now offers a program for people like you.

    The T-Mobile Jump plan is an upgrade program that varies a bit from those offered by AT&T and Sprint; you can upgrade your smartphone whenever you want with no waiting period. If you like to check out multiple phones every year from different providers, this mat be the plan for you.

    Upgrading to the latest phone will cost you, but the question is, is it worth it?

    How T-Mobile Jump Works

    T-Mobile offers two different early upgrade option, but they both work in similar fashion. And both cost $10 month.

    You can choose JUMP! to upgrade whenever you want, but you will need to buy out your phone.

    Or you choose JUMP! On Demand and upgrade 3 times per year - and never make a downpayment or pay a buyout fee.

    Here is how you enroll: Buy a smartphone or tablet and get a Simple Choice plan, then enroll in JUMP! or JUMP! On Demand for $10 per month.

    Summary of JUMP!

    • Upgrade your phone when you want with no waiting period or limits.
    • To upgrade, trade in your device and receive credit for remaining payments, up to 50% of the original cost. You will pay any remaining device payments when you upgrade (after deducting your credit and the amount you already paid on the phone).
    • JUMP includes Premium Handset Protection to replace a damaged or lost phone or tablet.


    Summary of JUMP! On Demand
    • Lease a smartphone or tablet and enter into an 18-month Simple Choice plan.
    • You pay $0 upfront.
    • You will now be eligible to upgrade your phone when you want, up to 3 times in a rolling 12-month period. And you will never pay for an upgrade.
    • JUMP! On Demand also includes Premium Handset Protection to replace a damaged or lost phone or tablet.


    View & Sign-Up for T-Mobile Jump Plans Here

    Enrolling in Jump

    When you sign up with Jump or Jump on Demand, you can add it to your plan when you upgrade and buy a new phone, or you can sign up if you are not currently a T-Mobile customer.

    You will need to pay $10 per month for either Jump plan, plus the cost of your phone plan and your monthly device installment, which depends on the phone you choose. A big plus is that both Jump options includes insurance that protects you if your phone is damaged, lost or stolen. With AT&T, Sprint, or Verizon, you need to pay extra.

    Upgrading Your Device

    T-Mobile Jump is the only upgrade program that lets you trade in your device and upgrade whenever you want without waiting periods. When you are ready to upgrade, T-Mobile pays off the remaining payments up to half of the cost of your device. You then buy a new device with a new Equipment Installment Plan (EIP).

    This is compared to JUMP On Demand, where you can upgrade only 3 times in a year, but there is no cost when you trade in your device for a new one.

    T-Mobile Jump Plans for iPhone 6s and Samsung Galaxy S6 Compared

    Lets say you want to check out the new 16 GB Apple iPhone 6s for a few months and then upgrade to new Samsung Galaxy 6S 32GB so you can compare the most popular smartphones on the T-Mobile Jump plan. Here's a look at what you will pay using JUMP and JUMP on Demand. We will assume you purchase a Simple Choice plan with 1GB LTE data. (Click here to learn more about Simple Choice plans on CreditShout.)

    Apple iPhone 6s 16 GB Cost
    • Retail price is $650
    • Jump On Demand lease price is $20/month
    • Jump! installment plan pricing is $27.08/month.


    *** LIMITED TIME OFFER: Right now, T-Mobile is offering you the option to lease a new iPhone 6s for as little as $5/month for 18 months if you enroll in JUMP On Demand and trade in an eligible smartphone!

    You will need to trade in an iPhone 6, iPhone 6 Plus, Galaxy S6 Edge+, Galaxy S6 Edge, Galaxy S6 or Galaxy Note 5 to get the $5/month pricing.

    The price rises to $10 per month with an iPhone 5s, Galaxy S5 or Galaxy Note 4 trade in, or to $15 per month with the trade in of most other smartphones.


    When you sign up for Jump, you will have no upfront cost aside for the $15 SIM starter kit and sales tax of about $57 for a total of $72.

    Every month, you will pay the $10 Jump fee and $50 for the Simple Choice Plan with 1 GB of LTE Data and unlimited talk and text, plus $27.08 (iPhone 6s) for the monthly installment charge on your phone. That comes to $87.08 for the latest iPhone on Jump.

    But your monthly total will be reduced to $80/mo if you lease with Jump on Demand (based on T-Mobile’s current promotion).

    After one year, you will have paid a total of approximately $1,117 with Jump and $1,032 with Jump On Demand for the phone and your data plan.

    But let’s say you wanted to upgrade after 6 months.

    With regular JUMP!, you will trade in your phone. You will have 18 remaining payments, which means a total remaining commitment to purchase the Apple iPhone of $487.44 left to fulfill. T-Mobile will pay 50% of the original device purchase price, so you will need to pay $162 to upgrade and start from scratch with a new phone. (You will need to keep a phone for at least 1 year to get T-Mobile to contribute the balance of the phone’s cost when you upgrade).

    With JUMP! On Demand, you have no commitment to fulfill. Instead, you will not need to come up with any extra money out of pocket to upgrade your phone no matter how short a period you’ve had it. This is especially nice if you are taking advantage of the included accident protection.

    By the way, if you really do upgrade to the Samsun 2G 32 GB, the retail price for that is $780. And its monthly cost $32.50 before data the cost for Jump. This will leave you with a $92.50 monthly bill.

    Without Jump: You have two options if you don't want to use Jump: you can get an Equipment Installment Plan for 2 years or pay the full price of the phone upfront. These two options actually work out to be the same, which is less than the Jump plan. Here's what you pay if you get a 2-year Equipment Installment Plan.

    You will pay $15 upfront, with a monthly cost of $92.50 ($50 for your Simple Choice plan and $32.50 for a Samsung Galaxy 6S smartphone. After one year, you will have paid $914.80 -- $177 less than the Jump plan. You still can't upgrade, though, unless you want to pay off the remaining balance of your phone, pay an early termination fee and lose your phone number.

    After two years, though, you will have paid $2,235, which is almost $300 less than leasing the same phone on a Jump early upgrade plan. Plus, at this point, you will own your phone and can re-sell it.



    If you want to see how the cost of T-Mobile compares to plans from other carriers, check out this article on CreditShout.

    T-Mobile Jump Eligibility & Credit Score Requirements

    T-Mobile customers on any qualifying Simple Choice rate plan who financed a new smartphone or tablet within 14 days of purchase can enroll in Jump. You can also enroll in Jump if you are a new T-Mobile customer.

    There is a credit check required for this plan. The good news is T-Mobile seems to be fairly lenient, and you will probably be approved if you have a credit score higher than 600-620, even with bankruptcy on your file. If you are denied, you may be able to speak with a Credit Analyst and have the system's automatic decision overridden.

    Is T-Mobile Jump Worth it?

    T-Mobile's Jump was the first upgrade plan, followed by AT&T Next, Sprint Easy Pay and Forever, and the now discontinued Verizon Edge. It still offers a lot that they don't, including premium device protection included in the program to cover you if your phone or tablet is lost or damaged. You also have the ability to upgrade whenever you want with no wait periods or limits, which makes Jump the only upgrade program to offer this benefit.

    If you love always having the latest smartphone and you don't want to wait around -- and you have good credit -- this is probably the best plan around. You will pay about $300 extra to do so, over two years, but this may be a small price to pay if this is the service you want.

    View & Sign-Up for T-Mobile Jump Plans Here

  2. T-Mobile Jump Review: Know The Credit Requirements Before You Sign Up
  3. #2
    Registered User Pro Member
    Posts
    573
    Sounds like a consumer-friendly plan and just in the time for the iphone 6.

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