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Best Buy promises $100 trade-in credit for new iPhone buyers

Customers who trade in a smartphone can score at least $100 in credit good toward the purchase of an iPhone 5S or 5C.

The iPhone 5S and 5C.
The iPhone 5S and 5C.

Smartphone owners willing to give up their current phone for a new iPhone can save a few dollars through Best Buy's latest trade-in program.

Starting Sunday and ending October 19, you can trade in any working smartphone for a $100 credit. If the phone is judged to be worth more than $100, Best Buy will dole out the remaining amount through a gift card. Your current smartphone must be able to power on and be free from water damage and cracks in the screen, according to Best Buy.

You can apply the credit toward the purchase of an iPhone 5S or 5C, thus bringing the 16GB 5S down to $99 and making the 5C free -- both with a two-year service contract, of course. If your desired 5S or 5C model isn't available, Best Buy will hand out a raincheck that you can apply when it's back in stock.

The deal is good for new customers to AT&T, Sprint, or Verizon and to subscribers eligible for an upgrade. Participating Best Buy Mobile specialty stores will start the 5C deal today. But the guaranteed $100 trade-in offer for both phones officially begins Sunday and will be available at all 1,400 Best Buy and Best Buy Mobile stores in the US.