Yes, there’s always a catch. If you don’t lose, damage, or need to replace the phone before that, you might still come out ahead. If unlimited data is important to you, that’s still a better deal than many contract carriers, and you don’t have to wait around for T-Mobile’s iOffering this spring. Virgin Mobile also offers iPhones, but only the older 4 and 4S. If that price is too steep for you, you can also buy the iPhone 4S for $549, or the iPhone 4 for $449.
iPhone 5 [StraightTalk]