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Help with prepaid cell service


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I'm a complete newbie to prepaid cellphone services. I've always been one of the sheep, using whatever plan Verizon or AT&T offered up. I'm currently close to paying off the phone I got with Verizon (Edge plan I think) and then I'd like to go prepaid, as it looks a hell of a lot cheaper.

Talk to me like I'm a 54 year old. What is the best plan of attack?

 

EDITED TO ADD- I don't want to use my current phone.

Edited by Equinox
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