Apple and Goldman Sachs Let Apple Card Holders Defer April Payments

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Apple and Goldman Sachs are allowing Apple Card users to defer their April payments without incurring interest, extending a similar program that was introduced in March, reports Bloomberg.


Apple Card users can opt in to the deferred payment program by messaging an Apple Card support representative through the Wallet app on an iPhone or iPad. Apple is informing Apple Card owners about the option through email.
We understand that the Covid-19 situation poses unique challenges for everyone and some customers may have difficulty making their monthly payments. Apple Card is committed to helping you lead a healthier financial life.

If you previously enrolled in the Customer Assistance Program in March, you will need to enroll again.
Apple Card balances will eventually need to be paid, but the deferred payments sans interest will provide some breathing room for people who have seen their incomes drop.

Update: Apple has shared a new support document with further details about its COVID-19 Customer Assistance Program for Apple Card.

Article Link: Apple and Goldman Sachs Let Apple Card Holders Defer April Payments
 
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triangletechie

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Apr 21, 2017
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I've noticed recently that when I make a payment, my available credit is updated immediately. It used to take a couple of days before the available credit was updated from a payment.
 

MacLawyer

macrumors demi-god
Aug 1, 2009
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Nice gesture! I save my Apple Card for Apple-related purchases. Zero balance right now while awaiting the new 13” MacBook Pro. :p
 

blake_licorice

macrumors newbie
Jun 26, 2018
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I just called Apple Card support, and the representative was unfamiliar with the April deferment option. I suppose I will wait for an automated option to roll out as was the case in March.
 

ArtOfWarfare

macrumors G3
Nov 26, 2007
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But will it hit their credit score? Great that there isn't building interest, but is their credit score being dragged through the mud for things they can't control?
Whether someone has an emergency fund set up or not is very much in their control. Everyone should have always been prepared to go 2-3 months without a job. We don't generally know when we'll find ourselves unemployed for a few months, but we know bad times always come eventually and we need to be ready for them.

Coronavirus may end up more than draining a reasonable 2-3 month emergency fund though... but it's too early for that to be normal.
 
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az431

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Whether someone has an emergency fund set up or not is very much in their control. Everyone should have always been prepared to go 2-3 months without a job. We don't generally know when we'll find ourselves unemployed for a few months, but we know bad times always come eventually and we need to be ready for them.

Coronavirus may end up more than draining a reasonable 2-3 month emergency fund though... but it's too early for that to be normal.

No, it's really not.
 

CalMin

macrumors 6502a
Nov 8, 2007
686
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will this effect my credit score though, i just got mine above 740+ don't want a misunderstanding to drag it down again
They would have to report you to the agencies for non-payment. If they are deferring the payment then there is no need to report it.
While it's correct that it won't show up as a non-payment strike, if you apply for new credit, the higher balance will show on your credit report - your balance will be reported each month regardless of this payment deferment option. That might affect a lenders willingness to extend new credit, and if the overall balance carried is very high relative to your income, then a high debt:income ratio will also be a factor.

In short, if you can pay each month then it's probably better to do that. If you're really struggling to make rent, pay bills, and put food on the table, then deferring your Apple Card payment is an option for you to get by during this difficult time.
 
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Jared Strike

macrumors regular
Aug 10, 2013
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Whether someone has an emergency fund set up or not is very much in their control. Everyone should have always been prepared to go 2-3 months without a job. We don't generally know when we'll find ourselves unemployed for a few months, but we know bad times always come eventually and we need to be ready for them.

Coronavirus may end up more than draining a reasonable 2-3 month emergency fund though... but it's too early for that to be normal.
Not everyone is fortunate to be able to save like that. Some of us live paycheck to paycheck.
 

az431

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Sep 13, 2008
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Portland, OR
My german ass might be showing but how is that gonna help? So you will have to pay basically double the next month? Where is that extra money suddenly supposed to come from
So your take on this is that people who can't make this month's payment should be forced to make it since it will be due someday anyway. And that will be better how?
- - Post merged: - -

Well, good deal. Fortunately/unfortunately I have already paid my bill in full for the month.
I think this is to help people who can't pay the bill. It's not an optional vacation from bills.
 
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PickUrPoison

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Sep 12, 2017
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While it's correct that it won't show up as a non-payment strike, if you apply for new credit, the higher balance will show on your credit report - your balance will be reported each month regardless of this payment deferment option. That might affect a lenders willingness to extend new credit, and if the overall balance carried is very high relative to your income, then a high debt:income ratio will also be a factor.

In short, if you can pay each month then it's probably better to do that. If you're really struggling to make rent, pay bills, and put food on the table, then deferring your Apple Card payment is an option for you to get by during this difficult time.
The payment amount is a very small amount with respect to the balance. The increase in balance caused by a missed payment is negligible.
 
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JosephAW

macrumors 68030
May 14, 2012
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I just paid mine off. :rolleyes:

I want to know how to change categories for my items. Sometimes it thinks gas is food.
 
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