We recently told you about the nation’s second largest carrier dropping its unlimited data plan for a tiered structure similar to that of AT&T. More details have surfaced, and the good news is that existing customers will be able to keep their coveted $29.99 unlimited data plans with an ongoing Verizon contract.

Like AT&T, Verizon will be grandfathering in existing customers for continued use of the unlimited data plan.

AndroidCentral has provided some details pertaining to Verizon’s new unlimited data policy,

  • If you have Verizon’s $29.99 unlimited data plan, you’ll be able to keep it after July 7.
  • You’ll also be able to keep the $29.99 unlimited plan when you upgrade to a new phone. (No word on if there’s a pricing difference or when that policy could change.)
  • If you add a line to an existing account, you’ll not be able to chose the $29.99 unlimited data plan.
  • If you’re a new customer between now and July 7, you’ll still be able to choose the $29.99 plan.

Luckily, you’ll be able to keep your plan when upgrading from your current iPhone to the iPhone 5. On AT&T, the same rules have applied for grandfathered data customers.

Unlimited data is quickly becoming a thing of the past, and both AT&T and Verizon are making a smart business decision by allowing existing customers to keep their unlimited plans. For a lot of people, the only thing keeping them from switching from AT&T to Verizon (or vice versa) is their grandfathered unlimited data plan (myself included).

What about you? Will you be one of the lucky few able to keep your unlimited data plan on Verizon? How does that affect your decisions on upgrading your iPhone or switching carriers?

[MacRumors]