Starting tomorrow, May 1, AT&T will offer at least $100 to users looking to trade-in their smartphone for a new phone.
The trade-in offer lets will give users at least $100 towards a new smartphone when they trade in a new smartphone that’s less than three years old. The deal will halve the upfront cost of just about any high-end smartphone the carrier offers include the iPhone 5, Samsung Galaxy S4 and the HTC One.
The plan is very similar to other services like Gazelle, but is easier and faster for most users. Instead of shipping a phone off the company and waiting for payment, AT&T will give users an AT&T Promotion Card they can use instantly on a new device.
AT&T’s plan is also better than other services because it will accept any smartphone that came out in the last three years with a minimum pay-out of $100. That even includes old mid-range Android devices or original Windows Phone 7 devices that may never see another system update again.
Users can trade in those old phones money off a high-end phone, or they can use it to get the 16GB iPhone 4S for free.
Surprisingly, AT&T’s offers aren’t much lower than Gazelle’s trade-in offers. AT&T will offer $305.01 for a 32GB iPhone 5 on Verizon, while Gazelle will offer $340 for the same phone in flawless condition or $310 in good condition. Users stand to get an extra $35 from Gazelle, but the instant gratification of AT&T’s plan may convince them to trade the phone in at an AT&T store.
Most phones won’t fetch that high of a price, however, at least no phones users are willing to trade-in. Most phones that are out of a two-year contract will likely only get the user the $100 card or slightly more.
It is important to note that money users get for trading in their smartphone is only usable on AT&T devices and accessories. Users can’t use it toward paying their monthly bill, no matter how much they may want to.