AT&T Flaship Chicago Store

AT&T is right now offering a $50 bill credit to Next customers who purchase a new iPhone from Apple’s online and retail stores within the next two months. Neither company is actively marketing the promotion, but, as spotted by MacRumors, it does appear in the fine print of AT&T’s Next plan.

All late model iPhones qualify for the deal, including the 5c, 5s, 6 and 6 Plus, but there are stringent requirements. The iPhone must be purchased on an existing line as an upgrade, it must be financed using AT&T’s Next plan, and it must remain active and in good standing on Next for 45 days.

Here’s the promo text, shown during the iPhone checkout process on Apple’s web store when the AT&T Next option is selected:

$50 Bill Credit Offer: Ends 12/31/14. Must remain in active and in good standing on Next for 45 days to receive bill credit on your AT&T mobility bill within 3 bill cycles. Upgrades only. Requires iPhone to be purchased via AT&T Next and activated on a qualifying AT&T voice and data wireless service plan. Offer may not be combinable with other credits, discounts and offers. Offer and terms subject to change and may be discontinued at any time without notice.

While this seems like a decent deal for folks financing their iPhone purchase through AT&T’s Next installment plan, those still on subsidized contract plans would do better to wait until Black Friday. We’ve already seen some advertisements for the shopping holiday showing iPhones up to $100 off.

Again, the $50 Next bill credit offer ends December 31.