Hey iPhone users, don’t fall for Verizon’s 3-year price lock

With the fear of tariffs overtaking the U.S., Verizon on Thursday announced a new “three-year price lock guarantee on all myPlan and myHome network plans.” Verizon says the guarantee ensures your core monthly plan price for calling, data, and texting won’t change until at least 2028.

On the surface, that sounds like a good deal. There isn’t a commitment to stay for three years and the guarantee automatically applies to all existing myPlan customers, which is basically anyone who’s signed up in the past couple of years. Additionally, customers can get a free phone (which varies depending on the plan) with any trade-in of an Apple, Google, or Samsung handset in any condition.

But the price lock guarantee isn’t all that guaranteed. The deal only applies to the “then-current base monthly rate for your talk, text, and data,” and “excludes taxes, fees, surcharges, additional plan discounts or promotions, and third-party services.” That basically ensures that you’ll be paying more for your phone plan in three years, even if the base monthly rate stays the same.

For example, in February, Verizon added a $3 per line increase for myPlan customers with five or more lines and 20 cents per line to the Administrative and Telco Recovery Charge in January. Those very clearly fall under the category of a fee or surcharge.

So go grab your free phone, but don’t expect to pay the same plan rate today as you will in April 2028, no matter what Verizon guarantees.