T-Mobile Will Let You Upgrade Your Phone Whenever You Want

June 25, 2015 12:47 PM EDT

T-Mobile has been wreaking havoc on the wireless industry for two years with disruptive customer deals that upset the tradition of binding two-year contracts. Now the company has another new initiative that its larger competitors may be forced to respond to.

On Thursday, T-Mobile announced Jump! On Demand, a new initiative that will let users upgrade their smartphones up to three times a year without having to pay any additional fees. Customers can get their first phone on the plan for $0 down, then pay a monthly fee toward the purchase of the new phone. When ready for a new phone, a customer can trade in their current device for another one at no cost.

Rates for the monthly payment plan vary, but an initial promotion will let customers get an iPhone 6 with a payment plan of $15 per month when they trade in their old smartphone. These phone payment rates are in addition to the cost of the wireless plan.

PHOTOS: The Rise of Mobile Phones from 1916 to Today

**1916** A German field telephone station in the Aisne department of northern France during World War I.Paul Thompson—FPG/Getty Images

**1970** French singer and actor Johnny Hallyday in a scene from the film 'Point de Chute' (aka 'Falling Point').Keystone/Holton/Getty Images

**1980** An early mobile phone during the Iranian Embassy siege at Princes Gate in South Kensington, London.Kypros/Getty Images

Bob Maxwell, general manager of Englewood-based Mobile Telephone of Colorado, places a call on FCC-approved radio frequency while driving to work. — **1983** Bob Maxwell, general manager of Englewood-based Mobile Telephone of Colorado, places a call on an FCC-approved radio frequency while driving to work.Lyn Alweis—Denver Post/Getty Images

THE A-TEAM -- "The Say U.N.C.L.E. Affair" Episode 5. (l-r) Eddie Velez as Frankie Santana, Robert Vaughn as General Hunt Stockwell, George Peppard as John 'Hannibal' Smith. — **1986** THE A-TEAM "The Say U.N.C.L.E. Affair" Episode 5. (l-r) Eddie Velez as Frankie Santana, Robert Vaughn as General Hunt Stockwell, George Peppard as John 'Hannibal' Smith.Bill Dow—NBC/Getty Images

Bill Clinton, Ray Flynn — **1992** Democratic presidential nominee Bill Clinton talks on a cell phone while meeting with Boston Mayor Ray Flynn in a New York hotel on Sept. 25.Mark Lennihan—AP

**1993** Whoopi Goldberg during ShoWest in Las Vegas.Jeff Kravitz—FilmMagic/Getty Images

**1997** A farmer with his family sitting on a Bullock Cart and talking on a mobile Phone, in Delhi.India Today Group/Getty Images

World Trade Center Terrorist Attack. — **2001** A woman watches smoke pour out of the World Trade Center Towers in New York on September 11.Nicholas Goldberg—Gamma-Rapho/Getty Images

A rebel militiaman speaks on his mobile phone after capturing territory from government troops on March 25 2 in Ben Jawat, Libya. — **2011** A rebel militiaman speaks on his mobile phone after capturing territory from government troops on March 25 in Ben Jawat, Libya. John Moore—Getty Images

**2011** A youth films the aftermath of tear gas police fired at protestors in Muhammed Mahmoud Street near Tahrir Square on November 23 in Cairo.Peter Macdiarmid—Getty Images

**2012** Audience members take pictures of President Barack Obama at Florida Atlantic University on April 10 in Boca Raton, Florida. Marc Serota—Getty Images

**2014** A teenager takes a selfie in front of Queen Elizabeth II during a walk around St. Georges Market in Belfast. The Queen has apparently voiced her dismay that when she carries out engagements she is greeted by a sea of mobile phones.Peter Macdiarmid—PA Wire/Press Association Images/AP

There is some fine print. T-Mobile has an older Jump! plan that charges a $10 per month fee but includes perks such as phone insurance. This new plan has no fee, but no insurance. The payment plan also is part of an 18-month lease, and after a year and a half, customers must either upgrade to a new phone or pay the balance on their current phone to purchase the device outright.

Still, for people who are constantly eager to upgrade, the offering is an affordable way to always have the latest and greatest device. It’s also more flexible than offerings by T-Mobile’s competitors aimed at frequent upgraders.

Jump! Unlimited kicks off on June 28 at participating physical T-Mobile stores.

PHOTOS: The Rise of Mobile Phones from 1916 to Today

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