Retail giant Walmart is putting its own spin on the growing trend toward trade-ins. Ahead of the expected September 10 unveiling of Apple’s next smartphone, the retailer is offering credit toward in-store purchases.
The ‘Gadgets to Gift Cards’ program lets you trade your iPhone or iPad in for a quick gift card for Walmart products either in-store or online. However, unlike strictly cash for your iPhone, the retailer is essentially turning your gadgets into grocery money by offering you a line of credit, bringing some reservations to the offer…
“What is basically going on here is that you’re opening a credit account for shopping at Walmart – a credit account that you pay off by sending in a device in the condition you promised,” writes Cnet‘s Eric Mack.
Although you can get a gift card before sending in your device, you’ll need to pass a credit check. What sort of prices for working iDevices are possible through the Walmart trade-in program?
A 64GB iPhone 4S will get you $225 or $250 for an iPad.
Those prices are good until August 25.
To find out what your smartphone, MP3 player, camera or computer is eligible, head to the Walmart trade-in website, get a quote and hit the Pay Me Now button.
Walmart is not alone in retailers hoping Apple trade-in programs will goose sales.