Earlier phones used to come with a contract. All major carriers like AT&T, Verizon Wireless, T-mobile, and Sprint were competing with each other for giving the best phone contract deals.

There are hardly any carriers that offer contract phones these days, but if you are specifically looking for the best phone contracts, then here are some things to consider before you take one:

• Cheaper phone: When carriers offer you a contract, a smartphone that works with that carrier often comes at a discounted price. Hence, you have to pay less for the phone. When you renew your contract with the same carrier, you have the option to change your phone too.
• Hidden charges: Be wary of the hidden charges that come with the contract. Normally the plans remain unchanged during your 2-year contract tenure. So there should not be any more extra charges apart from those mentioned in the plans.
• Saves money: No doubt while looking for the best phone contracts, you save money as you get a phone with the contract at a subsidized rate. You have the same plan for 2 years and that way your budget stays the same until the last day of your contract.
• Better coverage and network: Contract phones work best if you have a good network and 4G coverage. Normally users with contract get excellent network as carriers want the users to stick with them.
• Switching over: If you are not satisfied with your current contract, you have to either wait for the contract to get over or terminate the contract. If you are terminating the contract, then you have to pay the cancellation fees. In case you are planning to switch from your current carrier, then there are other carriers like Verizon or AT &T that offer competitive plans and some credit for the switchover.

There are few takers for contract phones, as all major carriers are offering unlimited 4G data, HD streaming videos, and 8-10GB of hotspot data. Keep your options open and think before getting into a contract.