How to pay monthly for an iPhone 5?

I'm finally getting an iPhone 5 soon. How do I pay for it monthly? Do I buy a card? Do I get a bill in the mail? I know it's $50 a month, I just don't know how it all works. How do you set it all up?

Depends on your carrier.

If you are buying an unlocked phone, you can buy a SIM card and they will bill you monthly or pay-per-use.

If you buy it with a contract, you can pay the bill online with your debit or credit card.

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