Best Buy offers smartphone trade-in

Richfield, Minn. -- Sept. 16, is the final day of a four-day promotion Best Buy Co., Inc. is offering to customers who want credit toward purchase of an iPhone 5.



Best Buy will give a minimum $100 trade-in credit for an iPhone 5 to any customers who brings in a working smartphone. Best Buy says that will make the iPhone 5, currently available on several major carriers for $99.99, free. Customers will still have to pay any applicable sales tax and activation fees.



Customers must be eligible for an upgrade and activate the iPhone 5 on a two-year contract with AT&T, Sprint or Verizon to take advantage of the offer. The phone for trade-In must power on, be free from water damage and screen cracks. If a customer’s phone is worth more than $100, they will receive the difference in a Best Buy gift card.



Best Buy is running this promotion ahead of a similar promotion Wal-Mart is planning. Starting Sept. 21, consumers will be able to receive immediate credit toward the purchase of a new smartphone when they trade in their current smartphone at participating Wal-Mart stores and Sam's Club locations. Wal-Mart's trade-in program offers an immediate credit from $50 to $300 for more than 100 smartphones.