Apple customers who want to upgrade to the iPhone 7 or iPhone 7 Plus models can trade-in their old Apple smartphones to get credit which can be used to buy a new phone.

The iPhone 7 costs a minimum of $649 USD depending on the variant and storage capacity. The good news is that older iPhone models can be traded-in for up to $650 USD credit. Old phone valuation varies depending on the condition and model.

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All four major carriers in the United States (Verizon, AT&T, T-Mobile, and Sprint) are now accepting iPhone 7 and iPhone 7 Plus pre-orders. For a free iPhone 7, the old phone to be traded in has to be an iPhone 6, iPhone 6 Plus, iPhone 6s or iPhone 6s Plus and worth $650 USD. Another condition is that the customer also has to be locked into a two-year contract.

According to Tech Times, Verizon requires customers who purchase an iPhone 7 via its online store to agree to monthly installment payments. The customer would also need to agree to trade-in his/her qualifying smartphone and send it to the carrier. If the phone qualifies, Verizon will start to credit the customer's wireless account in around two or three months over the next 24 months.

AT&T, on the other hand, requires customers to buy an iPhone 7 via its Next program with a $50 USD per month minimum plan along with the qualifying phone trade-in. AT&T would credit the wireless account over the next 24 months, and good standing is required to receive the full $650 USD credit.

The iPhone 7 and iPhone 7 Plus models are the first water-resistant iOS smartphones with improved battery and camera features.