For the past week or so, major retailers have been slashing prices of the iPhone 4 and iPhone 4S ahead of the release of the next-generation iPhone. Sprint is offering even better deals than before by giving out a $100 American Express Reward Card with the purchase of the 16GB iPhone 4S and a two-year contract. Priced at $149, the $100 dollar gift card makes buying this iPhone only $50.

Just last week Sprint cut the price of Apple’s iPhone 4S to $149, which is $50 off, and also started waiving the $36 activation fee. Other retail stores, like Best Buy and Target, quickly followed suit and lowered their prices as well. Apple then instructed its own retail stores to match the discounted prices of major retailers, with as low as $49 for the iPhone 4 and $149 for the iPhone 4S.

To match this latest discount, Business Insider has confirmed that Apple will offer store credit for the same amount. At this point it’s unclear if Apple will continue to offer store credit after Sprint’s sale comes to and end, but it’s likely that Apple’s price matching will be done at the same time.

If you’re hoping to take advantage of Sprint’s promotions, make sure you’re aware of the stipulations. For instance, the gift card bonus is online only and expires on August 26th, which doesn’t leave very much time to spend it.

Source: Sprint via Business Insider and Apple Insider
Image Credit: Sprint

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