Sprint and T-Mobile today both announced aggressive plans to go after trade-ins of your used mobile phone and to hopefully gain a new customer. One of these two is a bit more aggressive than the other. Let's start the discussion by dissecting Sprint's offering first.
Sprint's Trade in Program
Sprint announced that it will meet or beat all the MAJOR U.S. carrier buyback pricing offers i.e. from Verizon, AT&T, and T-Mobile. This offer is currently only available for all new lines of service. Current customers need not feel entirely left out, as they can get an instant in-store credit, or up to $300 for eligible devices to be used towards a new phone purchase or an account credit. Up to three phones can be traded in per line at any time, and five total for the calendar year. According to Sprint, their buyback program put $100 million back into customers pockets last year.
T-Mobile Trade in Program
T-Mobile guarantees they'll offer the best trade-in value for your used mobile phone. Like Sprint, their offer only applies when compared to the other major carriers, i.e. Sprint, AT&T, and Verizon. To make good on their promise, T-Mobile said they'll track the market every day to ensure they offer the best deals. If after trading in your phone you do find a better offer, T-Mobile will beat that price, give you the difference back, plus give you an additional $50! To cash in on this offer, you must report to T-Mobile within seven days of making your trade in either via online or by a phone call and let them where and by how much you found a better deal.