Apple calls this a rebate? You get $100 to spend on Apple stuff. This means that the credit is really only a rebate of about $30. Plus who knows, maybe you'll buy other over-priced Apple stuff.

According to Jobs; statement, customers who bought an iPhone from either Apple or AT&T Inc. will be eligible for $100 credit they can use at either Apple's retail or online store.

Apple's Jobs apologizes over iPhone price cut - MarketWatch

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Tags: apple, iphone, rebate, ripoff