Verizon to Raise Its Early Termination Fee?

Rumor has it that starting November 15th, Verizon will raise its early termination fee for high-end smartphones to $350. The ETF will then see a reduction of $5 every month. The reason? Well, Verizon is trying to combat scammers who buy new high-end phones like the DROID or Storm2 on contract, cancel the line by paying the early termination fee, and then sell the phone for double or even triple the price they paid for. The rumor has not been confirmed yet. Though, it is understandable if Verizon goes through with this. Unfortunately, it might affect innocent customers who need to terminate their contracts early for any other reason.

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