O2 offering a £250 prepaid Mastercard with select phone contracts

Here’s an interesting offer that we haven’t seen in a while. New and existing O2 customers who take out a new phone contract with select models can receive either a £150, £200 or £250 prepaid Mastercard.

The offer is available for Custom Plans and Plus Plans which include a minimum 30GB data allowance.

So what’s the catch? The offer isn’t available for all phones, and for phones where it is available, it must be a specific storage option. For example, it’s available for the 128GB storage option of the iPhone 15 Plus, but it’s not available for the 256GB and 512GB models.

The offer is available until 6th March 2024 with select iPhone 15 models, and 3rd April 2024 for other devices.

You will receive a text message within 14 days for details on how to claim the offer. The prepaid Mastercard will be delivered after 60 days, as long as you have not cancelled your contract or returned the phone.

You can choose any length for the device contract, ranging from 3 months to 36 months. If your device contract is 24 months or longer, your airtime plan will be linked for 24 months. However, if the device contract is less than 24 months, your airtime plan will be linked for the same duration of the device contract.

If you cancel your airtime plan before the minimum linked period, you must pay your remaining device payments in one go. But otherwise, there’s no early termination fee.

This means you could potentially get a Google Pixel 8 128GB for £538.97, when taking into account the £250 prepaid Mastercard.

For example, by selecting a 3 month device contract, you’ll pay £223 for 3 months for the phone, with a £30 upfront cost, which is £699 in total. Then, you can select the 30GB Plus airtime plan, which costs £29.99. As the offer requires you to not cancel within 60 days, you’ll need to commit to the airtime plan for 3 months, which will be £89.97 in total. This means the device and airtime total will be £788.97, but £538.97 when you account for the £250 prepaid Mastercard. Just make sure you remember to cancel your airtime plan after 60 days.