With the holiday season upon us, Best Buy wastes no time and in a one-day promotion is luring would-be iPad buyers by shaving $50 off the third-generation iPad. And sweetening the deal even more, the retailer is throwing in a $75 gift card with each iPad sold. Part of its “Deal of the Day” promotion, the offer is good only for today. If you’re thinking about taking the plunge, go past the fold for additional terms and conditions you should be aware of…

Sales are limited to one iPad per customer and the deal is valid only for the $649 64GB Wi-Fi-only black version for $649 and the $549 32GB Wi-Fi black and white variants. If that previously seemed like a big bite to chew, these iPads with a $50 discount applied will now run you $599 and $499, respectively.

Another limitation: the discounted models are only available via Best Buy’s web store, with free shipping and no in-store pickup.