iphone 7

Photo via Apple

There's a catch, but not a big one.

It's only been a day since Apple debuted its all new smartphone, and you can already get an iPhone 7 for free. On the heels of Apple's introduction of the new iPhone 7, T-Mobile launched a deal that will allow its customers to score a free iPhone 7. 

Yes, there's a catch. The "free" iPhone 7 is in exchange for a 2-year contract with T-Mobile, and it's only available with the base storage of 32 GB. If you want an iPhone 7 Plus, the deal will set you back $120. You'll also have to give up your old iPhone 6 or newer in return. 

In exchange, you'll receive roughly $650 in store credits (depending on how new the device you're trading in is) that will be applied over the next 24 months. If you're eyeing a 128 GB or 256 GB model, you can still trade in your old device and receive the credits, but you'll have to pay more up front since it's a more expensive device. 

If that all sounds good to you, be sure to set your alarm for 12:01 a.m. on Friday, September 9. That's when the iPhone 7 first becomes available for pre-order on T-Mobile's website. 
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