‘Free’ iPhone 7 offers from AT&T, Verizon, and others are basically two-year contracts

Every wireless carrier knows millions of people are trying to buy the iPhone 7 right now — and every one of them is using it as an opportunity to draw in customers. That’s why AT&T, Verizon, T-Mobile, and Sprint are all offering the extremely eye-catching opportunity to pick up an iPhone 7 for free. It sounds too good to be true. And, of course, it is. So here’s what the deal is when it comes to these free offers.

The first thing to know is that all of these free iPhone 7 offers require you to trade in a relatively new phone. In most cases that’s either an iPhone 6 or 6S, although AT&T and Sprint will also accept the Galaxy S7. Those phones will also have to be in good shape — so no broken screens. In most cases, you’ll also have to pay...

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