Verizon to offer $200 iPhone credit to recent smartphone buyers

Verizon Wireless (NYSE:VZ) will offer a $200 credit to customers who recently bought a smartphone but now want to switch to an Apple (NASDAQ:AAPL) iPhone 4--though the deal comes with caveats.

Verizon Wireless will begin selling the Apple iPhone starting next month.To placate smartphone subscribers bitten by buyer's remorse, Verizon said it will give a $200 Visa debit card to customers who bought a phone between Nov. 26 and Jan. 10--the day before the carrier announced its deal with Apple. However, customers will have to pay full retail price for the iPhone 4. Verizon announced the offer in its iPhone FAQ page, which was first highlighted by the blog Boy Genius Report.

"Current Verizon customers who purchased and activated new smartphones, feature phones or certified pre-owned phones between 11/26/2010 and 01/10/2011 are eligible to receive up to a $200 Visa debit card when they purchase an iPhone 4 at full retail price by 02/28/2011 and return their existing phone," the FAQ states "Note: This offer is only available on consumer accounts with five lines or less, who are purchasing iPhone 4 through Verizon Wireless retail stores, telesales, or through"

Verizon's full retail price for the iPhone 4 is $649.99 for the 16 GB model and $749.99 for the 32 GB version.

Shortly after the original iPhone went on sale in 2007, Apple cut the price of the phone by $200. In response to customer outcry, Apple sent customers a $100 store credit to those who did not use another rebate or discount. AT&T Mobility (NYSE:T) backtracked on iPhone pricing in 2009, offering the iPhone 3GS at new-customer prices to customers who had the iPhone 3G. 

For more:
- see this Verizon iPhone FAQ
- see this BGR post

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