It's hard to believe today but there once was a time when minutes were perceived as being more valuable to wireless customers than data allotments. As such, carriers loaded plans with unlimited data and primarily focused their money-making efforts on minute packages.
The exact opposite is true today as the majority of plans now include unlimited talk and text with varying buckets of data. Those who hung on to their unlimited data plans from years ago were allowed to keep them through grandfather clauses although carriers have been trying diligently to get users to let go of them.
Verizon is the latest carrier to do so. Instead of offering more attractive plans, they're goal is to simply jack up the price of unlimited data to financially force users out of their grandfathered plans.
Up to this point, Verizon customers have paid $29.99 for their unlimited data plans. Starting with bills that arrive on November 15 or later, that fee will shoot up to $49.99, the company told CNN Money. Verizon spokesperson Chuck Hamby said the change will affect less than one percent of its customers.
Verizon's first move to eliminate unlimited data plans was in 2011 when the company did away with them. Hamby said the additional money it earns from former unlimited data plan subscribers will be reinvested to strengthen its wireless network.