Since many smartphones cost $200 with a two-year contract, AT&T positions this as a “50% off” deal, though the company mentions that a smartphone priced at $99.99 with a two-year contract would be free under this scenario. AT&T also says, “Some trade-in phones may have a value higher than $100. In this case, customers will receive the credit at the higher value.”
I confirmed with an AT&T rep that this deal is good for current AT&T subscribers at the end of their two-year contracts as well. So if you’re with AT&T already and you’re due for a new phone, you can trade in your current smartphone for $100 or more in credit and then start another two-year foray into the wild world of wireless.