Best Buy to Reward Gamers with $100 Trade-in Credit for PlayStation 3 and Xbox 360

Best Buy has a new promotion that will give customers $100 credit for their trade-ins of the PlayStation 3 or Xbox 360.

The credit will come in the form of a Best Buy gift card and is valid from now until Nov. 23, the day after the Xbox One launches, reported Polygon. The deal began on the 13th.

"Not all products are eligible for trade-in. Includes working Xbox 360 and PlayStation 3 only. Not available in all locations. Trade-in value may vary. Condition, documentation and accessories may affect value. Device must power on to be considered working. Devices that are cracked, have a broken factory seal or have water damage are not considered working for purposes of this offer," the terms and conditions read.

For Black Friday, Best Buy will be slashing the prices of the last-generation consoles and offering big savings on bundle packages.

A PS3 bundle with, The Last of Us and Batman: Arkham Origins will go for $199.99, which would normally go for $367.97. Featured games will only be $34.99, down from $59.99 on some of the newest releases.

Best Buy will also be offering gamers a two-year discount membership, called Unlocked Epic Gaming Package, for $120. This will allow frequent buyers of games a 20 percent discount every time a new game is purchased.

The package became available on Nov. 10, and further bonuses include points doubling for every dollar received on a trade in and purchase. The points can be used for anything in the store, and those signed up will receive 50 percent off a new strategy guide, and a coupon that lets the gamer buy two used games and get one free.

The only restriction is that the customer may only buy three new copies of any one specific game.