Boost Mobile, owned by Dish Wireless, announced today five prepaid plans each priced under $50 per month. One of the five new plans is part of Boost’s “$hrink-It!” offering that reduces a customer’s monthly rate by $10 per month after six on-time payments are made. The plan starts at $45 a month and comes with unlimited talk and text along with 15GB of high-speed data; once all of that data is consumed, the subscriber will still get to access data but at 2G speeds. And this plan also gives customers the ability to use a mobile hotspot although that will consume part of the customer’s monthly data. Once three on-time payments are made, the plan’s monthly price is reduced to $40. Once another three on-time payments are received, the price of the plan drops another $5 per month to $35.

The other plans all feature unlimited talk and text and mobile hotspot access. The $35 a month plan comes with 10GB of high-speed data, the $25 a month plan provides 5GB of high-speed data and the $15 a month and $10 a month plans give customers 2GB and 1GB of high-speed data respectively. These plans (not including the “$hrink-It” plan) are capped which means that after all of the high-speed data is consumed, the consumer will have to purchase more data or wait for the next billing cycle to begin.