Get up to $1,100 trade-in credit when you preorder the Galaxy Z Fold 7 at AT&T

Samsung just unveiled the Galaxy Z Fold 7 phone, and when you preorder at AT&T, you can get a significant amount cut off the price with an eligible trade-in. Here's what to know.

The Galaxy Z Fold 7 is one of the latest folding smartphones from Samsung, offering a thinner, lighter build, an 8-inch AMOLED display, and internal storage options up to 1TB. It just launched on Wednesday during Samsung Unpacked. If you're looking to upgrade your current smartphone, right now at AT&T, when you preorder the Galaxy Z Fold 7, you can get up to $1,100 trade-in credit for your device, dropping the price of the premium phone down to $800.

Also: I tried Samsung's $2,000 Galaxy Z Fold 7 - it made my foldable phone look outdated

So what's the catch? I've scrubbed through the terms of AT&T's ...