After the big Apple announcement yesterday you probably signed into your mobile carriers website to check your upgrade eligibility. If you purchased the iPhone 4S last year, you probably do not qualify for an upgrade at the current time being most carriers do two-year contracts for in return for discounted equipment pricing. No worries, you can purchase the new iPhone 5 while under contract, for slightly more coin.

  • 16GB iPhone 5 – $649
  • 32GB iPhone 5 – $749
  • 64GB iPhone 5 – $849

Verizon does not offer an early upgrade option so you have to pay the early termination fee (ETF) or purchase the iPhone 5 at retail. With the ETF for smartphones being $350, canceling your current contract and paying $199 for the 16GB iPhone is the cheapest option. But, with that option, you will be required to get a new cell number. AT&T on the other hand, offers an early upgrade option for iPhone customers. Compared to having customers pay cancellation fees, AT&T adds $250 to the contract price of the device.

[via Gotta Be Mobile]