Does Tab Small really pay off $150 phone in 24 months?

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For the Tab, either my math is off or I misread something.

If I buy a $150 phone on the tab, and they put 15% of $29 per month against it, that's $4.35/month, which takes 35 months to reach $150. But the website says it will pay it off in 24 months.

What did I misread?
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SE Schoen

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Posted 4 years ago

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Ivan, Mobile Master

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You didn't misread anything and your math is not off. The tab gets cleared after 24 months, no matter if it's a tab S/M/L. Any remaining balance is wiped at that point.

If you have a tab from before the new system, that one does not get cleared and some of those could take over 4 years to pay off.
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Dennis, Mobile Master

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Note that according to the Wireless code of conduct if you are under the old system that your contract will effectively be over and tab zeroed by no later than 3 June 2015.

"369. The Commission finds that where an obligation relates to a specific contractual relationship between a WSP and a customer, the Wireless Code should apply if the contract is entered into, amended, renewed, or extended on or after 2 December 2013. In addition, in order to ensure that all consumers are covered by the Wireless Code within a reasonable time frame, the Wireless Code should apply to all contracts, no matter when they were entered into, by no later than 3 June 2015."
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Ivan, Mobile Master

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Nice addition. I did not know that. :)

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