Best Buy iPhone trade in

The United States consumer electronics retailer Best Buy has launched another noteworthy iPhone trade-in promotion (all over again) which offers a minimum $200 credit in exchange for your iPhone 4S in working condition. Own an iPhone 4 instead? No problem, Best Buy will treat you to a $100 credit.

In both instances your Best Buy Gift Card credit is only good toward the purchase of an iPhone 5 with a two-year carrier agreement with Verizon Wireless, AT&T or Sprint. Now you can get rid off your iPhone 4/4S and get a brand spanking new entry-level 16GB iPhone 5 for zero bucks, normally a $199 value with a two-year contract…

The deal (via 9to5Mac) starts today and is available through Sunday, August 18.

According to the terms of the promotion, you can trade-in your existing iPhone 4/4S both online or at a participating store.

Water-damaged iPhones, devices with cracked screens, no-contract iPhone models and T-Mobile iPhones are not eligible for this promotion.

If you have a non-iPhone smartphone (hint: an Android device you’d like to get rid of), you can trade-in at a Best Buy store and use that gift card toward an iPhone 5 purchase.

And if your item has no trade-in value, “we can recycle it for free,” Best Buy notes.

If I were you, however, I’d think twice because committing your soul to a carrier for the next two years makes little sense with about three weeks left until Apple’s September 10 iPhone 5S/5C event.