Abstract: A telephone line selection and accounting system is provided. The system an electronically programmable read only memory (EPROM) database of rate information for each carrier. Upon initiation of a user call, the database is first updated using automatic rate update tones (if available) from each carrier. The database rate information is then used to select the lowest cost carrier. The system provides the capability to connect to a carrier using either distinct lines or local access numbers over a common line. During the call, total elapsed time and cost is displayed at the user phone. Once the call is complete, call accounting information is stored for later retrieval and analysis. In addition to the automatic rate update tones, the rate information database may be updated either by changing EPROMs or by manually entering new rate information from a user phone.