In past times, prepaid cellphone service has been limited in terms of features and options. In fact, most only offered voice service, but now the best prepaid cell phone companies provide the same features you'd find on long term contract plans, including unlimited text and data. And all for very reasonable prices. On top of that, consumers now have access to a larger selection of phones and hardware, including smartphones without getting restricted into extended service contracts. But prior to you making your purchase, you'll want to find out about your options and what companies can offer.

Here are a few of the most popular carriers and what they have to offer:

Boost Mobile

Boost Mobile has a huge edge in the prepaid cellphone market thanks to their low-cost $50 a month plan that includes unlimited minutes, messaging, data and push-to-talk service. Compare that to a comparable contract plan that typically runs about $100 and you quickly realize what a great deal this is. Best of all, there are no hidden fees and of course no contract. The only downside is that Boost Mobile is owned by Sprint, and their network coverage may be spotty at times.

T-Mobile Prepaid

T-Mobile can't compete with Boost Mobile's unlimited plan for $50, but they do offer other low cost alternatives that start as low as $10 for 30 minutes. Those minutes don't expire for a full 90 days and if you replenish your account before the expiration date, any unused minutes roll over for another 90 days. T-Mobile does have the edge though in phone selection because they have more advanced equipment than Boost Mobile, including a prepaid Blackberry.

Virgin Mobile

Virgin Mobile offers lots of different plans, including monthly or pay per minute. If you go the monthly plan route, they have plans starting as low as $30 a month for reasonable mix of regular and weekend minutes. If you do not use your cell phone as much, then you can purchase a bundle of 200 minutes that can be freely used anytime for just twenty dollars. Virgin prepaid also offers several plans appropriately named Texter's Delight that make it very inexpensive to text even with high usage volume. They even offer an unlimited voice, data and messaging plan like Boost Mobile.

TracFone Prepaid Wireless

It's no wonder that TracFone, or Trac Phone as it is sometimes mis-spelled, is on the list of best prepaid cell phone companies. They have developed the largest prepaid cellphone user base in the US because of the combination of providing low prices, good voice connections and special calling features. TracFone is very popular in the prepaid world, not only for their affordable plans but because they also offer free long distance to 82 countries around the world, which makes staying in touch with friends and family easy and cheap. They also offer one of the most extensive networks and that means you will have service all over the US. TracFone customers are limited, however, to more basic handsets than some of their competitors.