Your carrier does you a lot of favour, but what if you do not want to repay them that favour? It is enough that you pay for using the carrier services, but you may not want to have their name continuosly showing up on your iPhone status bar.
You can use SBSettings to hide your carrier name. The instructions are are simple and straightforward.
1) download sbsettings from Cydia
2) swipe your statusbar to the right to bring the sbsettings toggles or simply launch the sbsettings app
3) scroll down to the system options and click on it
4) you will find a 'delete carrier name' toggle
5) toggle it to on
6) press the home button and your device should auto-respring , if it doesn't then a manual respring is required
That's it! Now you don't need to see the annoying carrier name on your iPhone the whole time.