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Verizon to offer data plans for iPad of up to 5GB for $50, with a catch

Following its initial announcement on sales of the iPad this morning, Verizon has provided more detailed information on the MiFi 2200 rates and data plans it intends to offer customers alongside the Apple tablet when it goes on sale at company stores beginning October 28th.

In addition to the 1GB data plan for $20 per month announced earlier, Verizon now says it will also offer a 3GB plan for $35 and a 5GB plan for $50. Those rates are available at steep discounts to the wireless carrier's typical offerings, which cost $35 for 250MB and $60 for 5GB.

There is one catch: customers must purchase a WiFi iPad and Verizon MiFi 2200 Intelligent Mobile Hotspot together as a bundle to get the discounted data plan prices. Even customers who already own a MiFi 2200 but don't own an iPad aren't eligible for the rates should they choose to buy an iPad from Verizon, according to a set of frequently asked questions.

Users who go over their monthly quota will see some relief, however, as Verizon has followed AT&T's lead in charging just $10 extra for each additional 1GB on both the $35 and $50 plan. The carrier is hoping customers choose one of those pricer plans and is giving them an incentive to do so by charging double — $20 per additional 1GB — on the low-end $20 plan.

By comparison, AT&T is offering two plans at heftier rates: $14.99 per month for 250MB and $25 per month for 2GB. While AT&T and Verizon require that users agree to a service agreement when applying to use their 3G services, both services are available on a month-to-month basis with no termination fee.

As for Verizon's bundle pricing, mentioned earlier, a MiFi 2200 Intelligent Mobile Hotspot and 16GB iPad will sell for $629.99. The 32GB model and hotspot will retail for $729.99 while the 64GB iPad combo will sell for $829.99.

Verizon's MiFi 2200 Intelligent Mobile Hotspot typically costs $299 on its own, or between $0.01 and $50 with a new 2-year service agreement.