The discount, which comes in the form of a gift card that can be applied to the in-store iPhone purchase itself, comes just two weeks after the device's launch and beats Walmart's $79.99 pricing on the 16 GB model that has been available since launch.
iPhone 5c supplies have remained fairly strong throughout Apple's distribution channels, giving retailers some incentive to reduce pricing to help drive sales. That availability contrasts with significant shortages seen for Apple's flagship iPhone 5s, most acutely with the silver and gold models.
The $50 gift card offer on the iPhone 5c is valid through Monday, October 7.
Update: RadioShack will be offering a similar promotion starting tomorrow, with in-store iPhone 5c purchasers eligible for a $50 gift card they can apply to the purchase of their devices. The promotion will run through November 2. Customers can also take advantage of RadioShack's Trade & Save program to receive up to $250 in store credit for trading in their current iPhones.