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Apple Launches iPhone Credit Program

As Steve Jobs announced last week after dropping the price of the 8 GB iPhone by $200, Apple has unveiled details of how early iPhone buyers can receive $100 in Apple Store credit. The credits are by way of apology for dropping the iPhone price so much—and so quickly—after the product went on sale in late June. Although early adopters of any new technology always pay a premium, Apple responded to customer complaints and announced to $100 credit program to soften the blow.

Customers who bought an iPhone before August 22 can apply for $100 in Apple Store credit online. Users simply enter their phone number and iPhone serial number to receive an SMS message with an access code to redeem their $100 credit. Users then enter their phone number and access code to activate the electronic store credit.

The $100 credit may be redeemed either in Apple’s retail stores or the Apple Online Store.

The credit program is set to run through November 30, 2007. Eligible iPhone owners must activate their phone with AT&T before submitting their claim for store credit.

Some iPhones aren’t eligible for the credit, including phones that were returned to Apple or AT&ampT, and phones which were issued with a gift card or other rebate offer, and phones registered to customers with addresses outside the United States. Apple says it is offering alternative accommodations to corporations and educational institutions that purchased iPhones.