Verizon has a new unlimited data plan–but is it too good to be true?

Here's what you need to know

Cellphone Credit: Ridofranz/Getty Images

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Update: Verizon reached out to clarify their current offers, so this article has been updated to reflect new information.

Between streaming music while I'm driving to work, watching old reruns of The Office on Netflix for the umpteenth time, and endlessly scrolling through Instagram, there are two things I care about when it comes to my phone: speed and data.

Specifically, I care about more speed and more data. And that's what Visible, a "virtual" network operator that relies on—and is owned by—Verizon, is now offering in its first unlimited high-speed data plan. Not only does it cost just $40 a month but there are no annual contracts required and it's compatible with almost every major phone out there, including the iPhone, Google Pixel, and Samsung Galaxy.

Sounds pretty good, right? Yes, but it sounds almost a little too good. We dove into the details—and ask our expert whether or not Visible is worth your money—below.

What does unlimited high-speed data really mean?

Credit: Visible

New phone service, who's this?

While Visible has offered unlimited data plans since it launched last year, it has always capped speeds at 5 Mbps (which, for reference, is about one-tenth the speed of Verizon's regular service which averages 59.4 Mbps).

Is there a catch?

Yes—because Visible may not be as fast as you think. "On Verizon's current unlimited plans, you get high-speed data until you use a certain amount of data per month. After that, your data can be de-prioritized and slowed down when the network is congested," our Exec Editor TJ Donegan explains. "With this cheaper plan, your data is pretty much always subject to being slowed down due to congestion. Speeds will depend on how aggressive Verizon is about throttling, but it's still allowing itself to throttle when necessary."

Plus, if you're someone who loves watching YouTube (or in my case, Netflix) on your phone, there's more bad news. Visible revealed that videos will still be limited to 480p—aka standard definition—which is common for many unlimited data plans.

What devices can you use Visible with?

Visible currently sells both iPhones and Androids. And not only will Verizon Visible be compatible with the Samsung Galaxy S8 beginning on September 19, but it will also be available on iPhone 11 devices when they're released on September 20.

Are there any other perks to using Visible?

Yes! The service is currently running a promotion with Mastercard. If you bring in your own device or purchase one from Visible for under $400, you'll get $100 back—and if you buy a device that costs over $400 with Visible, you'll get $200 back (this applies to the iPhone 11, too, if you agree to stay with Visible for at least two months).

Plus, if you already use the Visible service and refer a friend to sign up, you get $20 off your bill. And if you're an entirely new customer, you can get $20 off your first bill by using the code "tFdlp" at checkout.

So is it worth purchasing?

Credit: Damirkunic/Getty Images

Visible has its perks—but it's not for everyone.

For some people, yes, Donegan says. "I think this could be worth it for people on a single line that want a simpler, more affordable way to access Verizon's network without worrying about data caps."

He adds that, "This change definitely makes Visible a more attractive alternative, especially if you just pay for one line. Single-line plans are outrageously expensive otherwise, and without a speed cap this is a great deal—even if it's not quite as good as advertised."