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AT&T & Verizon join in on 'free' iPhone 7 deals offering up to $650 in credit [u]

Not content to let Sprint and T-Mobile steal their thunder, U.S. carriers AT&T and Verizon have launched their own promotions in which customers can potentially get a free iPhone 7 after trading in an older device. [Updated with second AT&T option]

The AT&T deal, ending Sept. 15, requires that people be porting a number to AT&T for the first time, and also be a DirecTV subscriber. There are also other limitations, among them that trading in an eligible iPhone will only net up to $650 in credit spread over the course of an AT&T Next plan.

While that amount is enough to cover a 32-gigabyte iPhone 7, people wanting a more expensive device —such as a 7 Plus —will have to pay the difference. The deal is unavailable in Connecticut, Rhode Island, or Florida's Miami-Dade county.

Verizon's offer spreads up to $650 credit across a 24-month period, during which people have to stay with the carrier to keep the savings. People must trade in an iPhone 6 or 6s in good condition to get full credit.

Preorders for the iPhone 7 began earlier on Friday. U.S. shipping times have already stretched out to 2 to 3 weeks in many cases.

Update: An AT&T spokesperson reached out to AppleInsider to note the existence of a second deal, similar to to the first but which doesn't require a DirecTV subscription or porting a phone number. Customers must simply trade in an iPhone 6 or 6s in "good working condition," and buy an iPhone 7 through AT&T Next. The older hardware must be owned outright.