I bought the iPhone 3GS (32GB) for $320 (after tax) My first bill should be about $165 ($65 a month w/ FAN code w/ one month pro-rated and a $35 activation charge) If I cancel my contract the etf is about $170 I have to pay one my month of $65 to make sure I get my $105 bing cashback before I cancel The total cost for my iPhone would be: $615 If I cancel, will I get $65 back because of the first month pro-rated charge? If that's true my phone will be $550 and I assume I can just get a t-mobile pre-paid plan and pay about $100 a year for service instead of ~$800 a year. I don't talk a whole lot and use my iPhone mainly for internet and I'll have wifi access once I start college next month. This will save me over $1000 over the period of my original 2 year contract. Will my plan work?