Whether I go through Apple or T mobile.com it says I get a one time bill credit + 24 monthly bill credits
Going through Apple it’s not a bill credit, they just deduct the trade in value from the price of the phone.
Here is the breakdown from my order today through Apple:

If you order directly through T-Mobile, the EIP will be for the full retail price and you’ll get a one time bill credit for the base trade in value then monthly bill credits for the promo value.
Going through Apple, they instantly credit you so the EIP amount that is financed is lower.
T-Mobile also charges sales tax on the full retail value of the phone whereas Apple only charges sales tax on the amount of the phone after the trade in is deducted. This is probably because of the difference in the way they each handle trade ins.
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