The latest thing in the cell phone industry is No Contract Cellular Phones - Tracfone. As the name suggests here there will no contract that you will need to sign. In order to get those customers who are not credit worthy, this system has been started by Tracfone. As there will be no credit checks many people with bad credit too can own a cellular phone Tracfone. Plus one more benefit is that there are no monthly fees, as you will need to pay in contract based cellular phones. This arrangement is better for you, if you don’t need to use the cell phone that often.