T-Mobile confirms it is revising its Price Lock policy starting now

T-Mobile is changing its Price Lock policy effective immediately. The company confirmed to Android Authority that while customers who already have a Price Lock in place will not be affected, the changes will impact new T-Mobile subscribers opting for a Price Lock plan.

Currently, T-Mobile’s Price Lock policy guarantees it won’t raise the regular rate of your talk, text, and data and the prices can come down if T-Mobile lowers rates.

However, new T-Mobile subscribers will not be able to take advantage of this existing policy. Here’s the statement the company shared with us to clarify the changes.

Price Lock isn’t changing for current customers who already have it. New customers will now get a financial guarantee that if we were to ever make a change and raise their price, and they choose to leave because of it, we’ll cover the cost of their final month’s recurring service charges.

So as long as you make no changes to your T-Mobile plans, you should have the older Price Lock guarantee and your rates won’t be raised if you’re on a Price Lock plan. The new policy makes no promises to keep the rates the same. Instead, T-Mobile will only pay your final month’s bill if you choose to leave the service as a result of the price hike. You will have to notify T-Mobile within 60 dates after the rates go up to avail the carrier’s offer to pay your final bill.