Sprint may have slid from the top three carrier ranks in the U.S., being displaced by T-Mobile, but the network operator is striking back in a bid to reclaim the spot.

On Friday, Feb. 20, Sprint announced its Family Share Pack plan for just $90 a month. This plan will offer users 12GB of shared data for up to a maximum of 10 lines, as well as unlimited talk time and text messages.

This new plan from Sprint is part of the carrier's aggressive marketing gambit to offer consumers better value deals when compared to rivals AT&T, T-Mobile and Verizon. The offer for the 10 lines is valid until Mar. 31, 2016.

Sprint will also be reducing its fee for data access, such as the charges per month for adding a device to the shared data plan. Now, the fee is $15 for the new Family Share Pack plan instead of $25. Sprint is also set to do away with the fee for new customers who take up the 12GB plan.

An added incentive for customers who port their number from another carrier to Sprint and avail of this plan is that they will get an American Express Reward Card worth up to $350 for each line taken. This will basically help the customer deal with the termination fee of their previous network operator.

In case you were wondering how Sprint's Family Share Pack plan fares when compared to similar options from competing network operators, the chart below gives a summary:

Before you jump the gun and decide to avail of the Sprint offer, remember there are some catches. Both AT&T and Verizon's plans offer users unlimited texts to international numbers. Users also get free cloud storage. T-Mobile also offers users unlimited data and international texts. Attractive as it may be, these features are missing in the Sprint Family Share Pack plan.

Moreover, subscribers to the Sprint plan can only purchase the devices via Sprint Lease or the Easy Pay option to be eligible for the discounted data access charge.

The 12GB option will only be available until Mar. 12 this year.

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