Short Description: This article looks at the two main types of cash back deals available when purchasing your mobile phone.
Cashback deals provide mobile phone buyers with the opportunity to gain money back when they commit to a mobile phone contract. There are two main types of cashback; automatic cashback and cashback by redemption.
Automatic cashback
Automatic cash back is offered by retailers through refunds that are automatically provided back to mobile phone purchasers. These are normally offered automatically at the start of a contract and are deposited as cashback,direct into a bank account, as cash or as vouchers.
Cash back by redemption
Cashback by redemption is not automatically available to buyers. It is provided when the retailer or operator has seen that you are paying your contract monthly. There’s normally a pre-defined period that you must meet your payments and then the cashback will kick in. You may for example be given a 6-month period over which you must prove that you are paying your mobile contract on time and in full. O2, Vodafone and Three Mobile phones can all be found with this kind of deal.
Cash back deals are one of the latest incentives on the mobile phone market. They offer the opportunity to gain additional value in ones mobile purchases. It was the case a few years ago that most of the deals offered involved free gifts. For example, it was possible to get a tablet or a games console for free if you went for a contract that was valued more than the phone. For instance, if you went for a mid-tier phone but took a high-end priced contract of £30 or more, the value of the handset would not match the amount you are paying and may be incentivised by a free gift.
With recession biting and priorities changing, cashback has become more appealing and so have line rental offers. Some operators and retailers are offering half-price line rental for specified periods, perhaps 3 months or 6 months. And customers are consistently looking for value and money-saving in today’s economic climate.
What Deals In The Future?
The deals available over recent years have been nothing short of astounding. Cashback, free gifts, and line rental deals have provided the mobile consumer market some added spice.
The mobile phone sector has thrived through recession. The telecoms market is one of the few that has not had a downward trend since 2008. The phone revolution has created continuous growth in the sector. And this has meant that cash rich companies are able to be flexible in their offerings and remain competitive to entice new customers in.The incredible profitability in the sector means that companies are cash rich, and can invest upfront in customers in order to gain and retain customers over long contracts. The deals in the future are sure to be used as a means to get an edge over the competition.
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