Verizon Wireless Easing Termination Fees

Good news for those considering a new cellular contract: Verizon Wireless will be prorating early cancellation fees if you decide to break your contract before it's up.

That means that if you leave Verizon with one month left on your two-year contract, you will no longer have to pay a huge $175 early termination fee but rather a mere $7.30 instead.

In theory, anyway. The new fee system will only apply to new customers (beginning in the fall) or existing customers who sign a new contract with Verizon.

The AP story also notes that if you spend $50 a month for 12 months, you'll also be eligible for a discount on an upgraded phone, rather than having to pay the full retail price for it.

Will the other major carriers follow suit? Your wagers and predictions can be placed below!