One of the many benefits of jailbreaking your phone is to have complete control over it’s functions. One of those functions is changing your carrier text.
The carrier text is stored in a property list (.plist) within the phone. There are a number of ways to change the .plist file for custom carrier text, but the easiest way is a small app called Make It Mine.

Make It Mine makes changing your carrier text or banner text easy.
First, download Make It Mine from Cydia. (The app is stored in the ModMyi repo.)
After you’ve downloaded the app, simply open it and choose what you want your carrier text or banner to say.

It’s that easy and because of this apps simplicity and functionality it’s no surprise it’s been downloaded more than 3 million times.

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