If you've been fretting over skyrocketing telecom rates, Visible's latest promotion may be just what you've been looking for.

Specifically, Visible announced that beginning today (November 30), new customers who sign up for an account with this wireless carrier can expect their monthly bill to remain the same for five years.According to Visible, the monthly fee, which includes taxes and fees, is fixed, and customers can expect their monthly know how much they will pay for their phone service, which they say will reduce at least one expense in their monthly budget.

Visible's rate lock campaign (opens in new tab) will run through January 3, 2023.

If you're not familiar with Visible, you've at least heard of the carrier's parent company; Visible is owned by Verizon and uses Verizon's network. That means extensive LTE coverage in the U.S. and expanded 5G coverage, which currently reaches 230 million people. Our experience reviewing Visible's wireless service a few years ago showed that if Verizon's coverage is strong in your area, Visible's coverage is strong as well.

Visible currently offers two plans, both with unlimited talk, text, and data. The entry-level Visible plan costs $30 per month and includes 5G coverage on Verizon's nationwide network. You can use your phone as a mobile hotspot, with unlimited calls and texts to Mexico and Canada. We rank that option as one of the best inexpensive cell phone plans under $40.

That said, the $45/month Visible Plus plan offers more, making it one of the best unlimited data plans available; Visible Plus includes Verizon's high-speed ultra-wideband network for 5G coverage, and Mexico and Canada with a phone plan when traveling; calls to more than 30 countries and texts to more than 200 countries; Visible Plus subscribers can use up to 50GB of data each month before speeds are limited. Entry-level Visible plans are subject to slowdowns whenever there is traffic on Verizon's network.

Visible's unlimited plans do not offer the same perks found in the services of well-known carriers, including Verizon, but the plans are also much cheaper. Verizon's cheapest unlimited data plan, the Welcome Unlimited package, costs $65 per month for one line and offers fewer perks than Visible Plus; Visible is also betting that fixed rates will make its plans more attractive.

Of course, Visible is not the first carrier to offer rate protection as a perk; T-Mobile has offered it in some form for years, the latest coming this spring. Nevertheless, T-Mobile's rate lock guarantee only applies to eligible plans such as Magenta, Magenta Max, and Essentials. The cheapest of that trio, the unlimited data plan, starts at $60/month for a single line.

With costs on the rise, locking in rates for an extended period of time may be one way for cellular carriers to differentiate themselves from the competition. With Visible's five-year rate lock, it remains to be seen if other wireless providers will follow suit.