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Apple has started offering the $100 credit it promised to placate iPhone owners after the price cut fiasco of a little under two weeks ago.

To recap: On September 5th Apple reduced the price of the 8GB iPhone by $200 (a third of its $599 cost) to $399, while discontinuing the far less popular 4GB model. This left a sour taste in the mouths of many early adopters who shelled out $599 for the iPhone over the last couple of months.

The next day, Apple posted an open letter from CEO Steve Jobs, who, without quite apologizing, extended the $100 olive branch to soothe iPhone customers.

To be eligible for the rebate you must have bought your iPhone before August 22nd. Those who purchased their iPhones after that date but before the price cut are able to get the full $200 back.

Here's how it works:

You fill out a form on the Apple Web site, entering your iPhone phone number and serial number. When that's done, you'll receive an SMS message on your iPhone with an access code. Enter the access code to generate Apple's credit iPhone, which you can then print out.

Unlike a standard credit, Apple has placed some limitations on where and how theirs can be used. It can only be used at an Apple Store or the company's online store, for instance, and not at an Apple reseller or even AT&T.

You can buy iTunes Gifts Cards with the credit, but not iTunes electronic gift certificates, for some reason. Those who haven't activated their iPhones with AT&T aren't eligible, and if you sold or gave away your iPhone you're also out of luck.

Apple will stop offering the $100 credit on November 30th. So early iPhone adopters have until then to get some money back.

More iPhone News

 Piper Jaffray analyst Gene Munster says iPhone sales have tripled since the price cut. Apple is now selling about 27,000 iPhones a day, up from 9,000 per day the week before the price drop.

 Apple sold its millionth iPhone last week, only 74 days after the smartphone's launch. That's ahead of schedule.

 Some analysts are now predicting Apple will sell about 700,000 more iPhones before the end of the year than previously thought. That number is now up to an astounding 3 million units shipped. There are those who predict an even larger number.

 Tomorrow, Apple is holding an event in London, where it is expected to reveal what carriers will be offering the iPhone in some European markets. Some of the mobile operators said to be in the running include Orange in France, O2 in the UK, and Vodafone or T-Mobile in Germany.

 Many are expecting to Apple release another iPhone firmware update, version 1.1.1, soon. Supposed features include support for Apple's new iTunes WiFi Music Store, the addition of an international keyboard, and a new Home Button category under settings. This will likely give iPhone users the same double-click function as in the iPhone Touch: Tapping the Touch's Home button twice takes you to music.