Best Buy Chops iPhone Price For Reward Members

$99 Apple iPhone that Wal-Mart smartphone

According to Best Buy, Reward Zone members can save up to $100 on an Apple iPhone 3G if they buy it from Best Buy Mobile stores through Feb. 28.

Premier Silver members—members that spend $2,500 or more at Best Buy within the calendar year—will receive a $100 discount, which will slash the price of an 8-GB iPhone 3G to just less than $100 and about $200 for the 16-GB model. Standard Reward Zone members can take $50 off either an 8-GB or 16-GB model, which retail for $199 and $299, respectively.

The discount is available to Reward Zone members who started on or before Feb. 21. The discounted iPhones are limited to one per customer and require a two-year service account with AT&T, the iPhone's exclusive carrier.

Best Buy also offers refurbished iPhones for a $50 discount, while late last year AT&T started offering refurbished iPhone 3Gs through its Web site for a deep discount.