Last month, T-Mobile announced a new plan designed to get Verizon subscribers to switch to T-Mobile. With the #GetOutoftheRed plan, Verizon customers move to T-Mobile, thus getting out of the red. After all, Big Red is Verizon’s nickname. They also get to keep the Verizon phone that they already own (certain models only; more on this later) and T-Mobile will pay off the remaining balance you owe Verizon for the handset. This is done by sending you a pre-paid MasterCard, or a pre-paid virtual MasterCard. Doing this gets you out of debt, or out of the red so to speak.
As we pointed out, this …