The new U.K.-based scheme is fairly straightforward. If you want to trade in your phone (it will only accept Galaxy S and Galaxy Z models at this time) without buying a new handset, you can do it through this portal. Samsung will then gift you store credit that lasts for up to five years and be used to buy anything Samsung sells.

You can buy the Z Flip 7 at Samsung, Amazon, and Best Buy (or just about any place that sells phones) for $1,099.99. The base version only comes with 256GB of storage, but if you pick up this phone at Amazon, you can get a $200 gift card at no extra cost, which is hard to argue with.