T-Mobile Offers Customers $4,200 in Stock Rewards

T-Mobile is taking loyalty programs to a new level.

The wireless carrier announced Monday that it is offering one full share of T-Mobile US common stock to “millions of existing and new customers” — and the opportunity to increase their ownership to up to 100 shares by recommending T-Mobile.

T-Mobile describes this Stock Up Referral Program, as it’s formally known, as “a first-of-its kind program that could turn millions of T-Mobile customers into T-Mobile owners.”

The “Stock Up” program started Monday for “everyone who is the primary contact on their eligible postpaid consumer smartphone account.” Beginning today, eligible new customers can qualify for a stock share.

Also as of today, T-Mobile is rewarding existing customers whose recommendations were the key factor in another person choosing T-Mobile. According to the company press release:

T-Mobile is thanking these advocates by giving them another full share – up to 100 shares a year – of T-Mobile US stock for every primary account holder who takes their recommendation and switches to the Un-carrier. That’s roughly $4,200 in just one year, based on the current share price!

If T-Mobile’s stock rises, the deal could get even better. As of the Nasdaq’s opening time Tuesday morning, T-Mobile’s stock was valued at $43.07, which would make 100 shares worth more than $4,300.

John Legere, T-Mobile president and chief executive, tells CNN Money that the “Stock Up” program is designed to solve the current “pain point” that is loyalty programs:

“Loyalty programs are broken. … We’re just saying ‘thank you.'”

According to T-Mobile’s web page devoted to the Stock Up Referral Program, it is a limited-time offer subject to change.

The company also announced Monday that it’s thanking customers with a new app called T-Mobile Tuesdays, which offers “free stuff and epic prizes, every Tuesday,” according to the announcement.

According to T-Mobile’s web page devoted to the app, however, the app offer is for a limited time and subject to change. So don’t wait too long to download it if you’re interested.

If you’re considering switching carriers, be sure to do your homework before buying into what could turn out to be a short-lived perk. You can compare both cellphones and plans here.

What’s your take on this news? Do you think the “Stock Up” program is crazy or cool? Sound off in our Forums. It’s the place where you can speak your mind, explore topics in-depth, and post questions and get answers.