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BY NICHOLE CARTMELL ANCHOR CHRISTIAN BRYANT Want an iPhone but hate lengthy wireless contracts? You might be in luck. Leap Wireless, owner of Cricket Wireless, will become the first carrier to offer a pre-paid iPhone in the US. The company will bring the iPhone 4 and iPhone 4S to its prepaid network. That means no contract will be necessary for consumers wanting a month-by-month plan. A reporter for PCWorld says the offer will attract those with limited budgets. "Since Cricket's plan is prepaid, you won't get slapped with surprise post-paid, usage-based fees as you might on a contract carrier. If the prepaid model appeals to you, but you've never been too thrilled with the current prepaid phones out there, this will be good news for you." But the appeal of pre-paid deals might be lost due to the hefty upfront costs - about $400 per iPhone. A mobile and wireless reporter for Computerworld says despite that - they offer more options for mobile companies. "Pre-paid deals have long been marketed by smaller carriers to customers on a limited budget, such as younger users. Over the past two years, pre-paid deals have become more attractive to major carriers like AT&T and Verizon Wireless as they seek out new sources of revenue." Leap will spend $900 million over three years to buy the new phones. Peter Sevensson for the Chicago Sun-Times says that decision is a risky one that other wireless companies have opted out of. "The biggest companies that don't carry it are T-Mobile USA and MetroPCS Communications Inc. U.S. Cellular Corp., another regional carrier, said it turned down the chance to sell the phone because of its cost." CNN says Leap Wireless only covers 60 million Americans compared to the more than 275 million larger carriers support. Fox News reports this will be a smart business move for both Leap Wireless and Apple. "The addition of the iPhone increases the reach of the popular device for Apple and brings a marquee product to Leap's Cricket service, which has been seeing customer growth slow." The devices will hit Cricket stores June 22.