Why Verizon's new '3-year price lock' is a bit of a misnomer

jetcityimage/Getty Images Tired of ever-increasing phone bills? Don't feel like shopping for a new carrier when your payment increases -- again? Verizon has an answer. The wireless carrier said today that it's introducing an "industry-leading guarantee: a 3-year price lock." Under this promotion, myPlan and myHome network plan customers, both current and new, will have their rates locked in for the next three years. About half of the company's customers are on myPlan, meaning this change will affect many people. Also: The best phones you can buy: Expert tested This announcement comes a few weeks after Verizon offered free satellite texting to some customers. Here's the important part: This guarantee "ensures your core monthly plan price for calling, data, and texting will not change," Verizon said, "excluding taxes, fees, and perks." In short, your actual plan price won't increase, but any additional taxes and fees aren't guaranteed to remain the same. Of course, your price could ... Read full article.