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If there’s one thing we can all agree we hate about cell phone contracts, it would have the be the Early Termination Fee.  The ETF has long been the bane of anyone who cannot stick to a single phone or carrier for any extended period of time.  Up until now they’ve ranged anywhere from about $175 to $200, but for some Verizon Wireless customers that’s about to change.

Starting November 15th, Verizon Wireless will be raising the ETF for devices like smartphones and netbooks to $350.  That number will decrease by $10 for every month or service, so even if you want out of the contract at month 23 you’ll have to pay $120.  The reason for the change makes sense for Verizon, smartphones and netbooks cost much more than feature phones do.  Verizon subsidizes the phones, and makes it’s money back through the monthly payments.  A smartphone that costs the buyer $99, like the BlackBerry Bold or upcoming Droid Eris, is paying much less than what Verizon paid for the phone, so this is really just Verizon trying to make that money back.

No matter how much business sense it makes, the change won’t make consumers any happier.  The ETF is already frustrating enough, and there are those who don’t want to be stuck with the same smartphone on the same network for two years.  Especially not Verizon’s network which until the Droid has had fairly poor choices of smartphones.  Of course there are those who don’t mind having the same phone on the same carrier for two years who won’t be affected.  It’s likely this give customers even more reason to stick with their plans until they run out, or just not use Verizon.

Read [USA Today]