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Apple’s latest flagship devices, the iPhone 7 and iPhone 7 Plus, are all the rage in the smartphone world right now. Apple has started taking pre-orders and, as expected, the Jet Black variants sold out nearly immediately. Major wireless carriers are understandably eager to get in on the consumer frenzy as millions of people clamor to get their hands on the newest Apple product. In light of the bold changes Apple has made to its traditional iPhone design– namely, removing the traditional headphone port– carriers are hoping that the deals are enticing enough to push iPhone users to upgrade.
AT&T and Verizon are the two latest carriers to capitalize on the iPhone 7’s popularity, joining their rival T-Mobile, in offering up free iPhone 7 promotions. The deals are all fairly similar, according to 9to5Mac, and they require you to trade in an iPhone 6 variant.
Verizon provides $650 credit when you trade in an iPhone 6, iPhone 6s, iPhone 6 Plus, or iPhone 6s Plus, and purchase an iPhone 7 ($650, by the way, is the cost of a 32GB iPhone 7). The credit is spread out over your bill for 24 months and should begin to appear within 2-3 billing cycles. That means you are required to stay with Verizon as a provider for two years. In order to take advantage of this promotion, which basically gives you a 32GB iPhone 7 in exchange for your old iPhone and a two-year contract, the iPhone you trade in must be in good working condition and fair cosmetic condition.
There are three easy steps to take advantage of this deal, according to Verizon’s website. You need to purchase an iPhone 7 with monthly device payments through Verizon’s online store and then select the option to trade-in your old device. After you complete your trade-in appraisal, you should receive a box to turn in your old iPhone 6. If it is in good working order, Verizon will begin to credit your account, which you must maintain in good standing for the full two years. If you renege on the deal and cancel your account, you’ll still have to pay off the phone or turn it in. And, you won’t get your old phone back, so it’s not a good idea to take the offer if there’s a chance you’ll break it.
The same goes for AT&T, which followed quickly on archrival Verizon’s heels in launching the same exact plan. You receive $650 credit in exchange for an iPhone 6 variant in good condition and a two-year AT&T Next plan.
The limited time offer kicks in when you buy a two-year AT&T Next account with a minimum plan of $50 per month, either at the AT&T store or online. According to the website, certain AT&T stores may require you to trade-in and purchase the phone in the same transaction.
Once your new iPhone 7 is activated, you have 30 days to ship and trade-in your old phone. Only when your trade-in is completed, the credits will be applied to your bill in even installments over the entirety of the account term, which you must maintain in good standing. If you opt to buy the more expensive iPhone 7 Plus, the $650 credit can go toward paying off the bill for it, though you won’t receive it for free.
It’s not exactly the sweetest deal that these carriers are offering. You’ll trade in a perfectly fine iPhone and commit to a two-year plan in exchange for $650 credit. You should also bear in mind that you’ll still have to pay sales tax for the iPhone 7 and that the deal doesn’t exempt you from activation fees, etc. But if it helps you snag an iPhone 7 quicker, it could be worth it.
Will you be trading in your iPhone 6 for an iPhone 7? Let us know in the comments below!