Best Buy Offering Free iPhone 5’s On Friday

iPhone 5 Free at Best Buy

Best Buy on Friday will be offering customers the chance to upgrade their smartphone to a “free” iPhone 5.

The company is once again allowing customers to trade in their old iPhone 4 or iPhone 4S in exchange for at least $150 in credit. That amount of money along with Best Buy’s current $50 instant rebate is enough for a free Apple iPhone 5 with 16GB.

If your version of the iPhone 4 or iPhone 4S is worth more than $150, Best Buy will supplement the rest of your trade-in value with a Best Buy gift card.

To qualify, you must be eligible for a free upgrade or a new account. You must also cover the cost of taxes and carrier fees.

The free iPhone 5 offer is good for AT&T, Sprint Wireless, and Verizon Wireless model. Sorry, Cricket and T-Mobile customers: You are out of luck, and so are you US Wireless users.

Best Buy has already gone through one day of iPhone 5 trade-in promotions, and it was such a big success that they plan to keep this new round running for nine days.

Remember to back up all your contacts, photos, videos, and other Apple iPhone 4 or iPhone 4S apps before the trade-in. Best Buy employees can also help you transfer data between your devices.

With Apple expected to announce the Apple iPhone 5S in the coming months, this promotion means customers will give up their chance to buy a discounted iPhone 5S with an upgrade, but it also means a big upgrade for the cheap cost of a new contract fee. For comparison purposes, I paid $36 when I upgraded my AT&T Wireless smartphone to the Galaxy S3 last year.

Will you be heading to Best Buy to receive your free iPhone 5, or will you wait for Apple to release the iPhone 5S and then pay for the new smartphone out of pocket?