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Circuit City is allowing customers to trade in their HD DVD players and apply the original sales price toward the purchase of new Blu-ray players.

As first reported by Gizmodo earlier today (and confirmed at a Washington-area Circuit City this afternoon by High-Def Digest), the unpublicized offer is giving in-the-know customers a second chance at making the jump to high-def.

The offer only applies to players sold in the last 90 days, but that should give those who received HD DVD players for the holidays enough time to trade in their gifts for the winning next generation format. You must return the player in the original box with all of its accessories in order to qualify. Considering the price differences between the two player formats, there will likely be additional costs in making the exchange.

Note that this offer only applies to players and not to HD DVD discs.