The carrier promotion will apply to both new and existing users, but you'll want to read the fine print before deciding.

Verizon will freeze rates for a broad swath of its customers in a bid to hold onto cellphone users irked by years of price hikes. The telecom company said Thursday that subscribers on its myPlan and myHome bundles will automatically gain a price-lock guarantee for three years.

The three-year guarantee covers the base charge for your rate plan, but not fees and taxes — and you have to be on one of Verizon’s newer myPlan subscriptions to qualify. That means Verizon can still raise your monthly bill in the form of increased fees,