Other Apple card and trade in question?

[mrbjr]

Just throwing this out ; I have just traded my wife’s 8Plus for an XR, trade in value is $300. They are charging my card for the total price, so they gave me 3%. Now the question is once they receive my trade in do they deduct the percentage from the trade in value , remember I have already received the full cash back.

 

[teeshot44]

From Apple's FAQ's
What happens to Daily Cash when you return a purchase
If you return a purchase made with Apple Card, you are refunded the purchase price. The Daily Cash you received when you made the purchase is charged back to your Apple Card.

My pure speculation is that the same would apply in your case and the Daily Cash you received for the trade in portion would be charged back to your card. Other merchant's and cards handle things in a similar manner.

 

[mrbjr]

I think you are correct and feel stupid that I didn’t check out the faq myself.
Thank you for your polite response.

 

[Shadowbech]

Just throwing this out ; I have just traded my wife’s 8Plus for an XR, trade in value is $300. They are charging my card for the total price, so they gave me 3%. Now the question is once they receive my trade in do they deduct the percentage from the trade in value , remember I have already received the full cash back.

If you return something and get a refund back, Apple will charge that daily cash amount to your card so you'll have to pay those back. So with that being said, So if your trade in value was $300, and credited back the $300, then that 3% (which is $9 bucks) will be charged to your apple card.

 

[esf215]

Wishful thinking but it would be nice if Apple didn't do a charge back for trade ins when using the Apple Card again wishful thinking

 

[Shadowbech]

Wishful thinking but it would be nice if Apple didn't do a charge back for trade ins when using the apple care again wishful thinking

Well Saturday, I purchased the Apple Watch 5 for in-store pick up, didn't choose the trade in on line. I went picked up the watch and later that same day, I took my Apple Watch 4 and traded in and they put the trade in value on my debit card, which I then towards that balance that I used on my Apple Card

 

[kupkakez]

When I got my Pro on Friday I just traded in my device right there and bought my Pro outright, I was charged $629ish for my unlocked 64gb pro instead of the $999.

I thought I read an article maybe on imore that if you did the trade in after that the trade in would show up as a credit on your Apple card and not a refund and therefore you would have gotten daily cash back on the total unlocked price. Could be wrong.

 

[Shadowbech]

When I got my Pro on Friday I just traded in my device right there and bought my Pro outright, I was charged $629ish for my unlocked 64gb pro instead of the $999.

I thought I read an article maybe on imore that if you did the trade in after that the trade in would show up as a credit on your Apple card and not a refund and therefore you would have gotten daily cash back on the total unlocked price. Could be wrong.

Hmm that might be true, not sure. I checked my checking account for the trade in value and shows as a "Return Apple Store" But of course I paid the Apple Watch with a credit card and got the trade in value on my Debit card.

I did it that way because I want to make sure that the product I ordered are defect-free. Once I go through and there is no defect then I take my old one to the apple store and do a giveback trade in and have it on debit card.

 

[izzle22]

If you return something and get a refund back, Apple will charge that daily cash amount to your card so you'll have to pay those back. So with that being said, So if your trade in value was $300, and credited back the $300, then that 3% (which is $9 bucks) will be charged to your apple card.

This is not correct. The 3% ($9.00) will not be charged to your Apple card. It will be taken away from your Apple cash. If you have $30.00 in Apple cash now you will have $21.00.

 

[esf215]

here is that article that kupkakez was talking about. But I will find out when I send my trade in back

You can earn Daily Cash for the full price of iPhone 11, even with trade in

If you are preordering iPhone 11 or iPhone 11 Pro, have a phone to trade-in, and plan to pay with Apple Card, you can make out with a little more Daily Cash than you may have thought.

www.imore.com

 

[izzle22]

here is that article that kupkakez was talking about. But I will find out when I send my trade in back

You can earn Daily Cash for the full price of iPhone 11, even with trade in

If you are preordering iPhone 11 or iPhone 11 Pro, have a phone to trade-in, and plan to pay with Apple Card, you can make out with a little more Daily Cash than you may have thought.

www.imore.com

Wow! This will be nice if true. I am currently waiting on my trade-in refund so I will find out next week if this is the case.

 

[mrbjr]

Just got my first trade in complete and the refund had the amount reduced to reflect the actual charge.

 

[izzle22]

Just got my first trade in complete and the refund had the amount reduced to reflect the actual charge.

So the apple cash balance was reduced by 3% of the trade-in amount/credit?

 

[mrbjr]

So the apple cash balance was reduced by 3% of the trade-in amount/credit?

Yes!

 

[izzle22]

Yes!

Ok. That's what I was thinking would happen. The article was too good to be true.

How long did your trade-in process take from beginning to when you just received your credit? Mine is currently in the inspection stage. Hoping to get my credit on Monday.

 

[mrbjr]

Ok. That's what I was thinking would happen. The article was too good to be true.

How long did your trade-in process take from beginning to when you just received your credit? Mine is currently in the inspection stage. Hoping to get my credit on Monday.

Actual time was 5 business days to being credited to my account.

 

[esf215]

Actual time was 5 business days to being credited to my account.

Five business day from the time that they received it or from the time the inspections was done? They received mine on Wednesday and its still being inspected

 

[mrbjr]

Five business day from the time that they received it or from the time the inspections was done? They received mine on Wednesday and its still being inspected

In my case it was 5 business days ( it arrived at Elk Grove,Ca) on Saturday, got an email that it was inspected on Thursday.... Late Friday evening received my credit on the wallet app.

 

[esf215]

So the apple cash balance was reduced by 3% of the trade-in amount/credit?

My Apple Cash card was not reduced. I got my refund this morning and they just charge the adjusted amount to my Apple Card. My Apple Cash card balance did not change. I knew it was wishful thinking. Next time I will try and take it to the apple store for a trade in and have them put the money back on my debit card. lol

 

[izzle22]

My Apple Cash card was not reduced. I got my refund this morning and they just charge the adjusted amount to my Apple Card. My Apple Cash card balance did not change. I knew it was wishful thinking. Next time I will try and take it to the apple store for a trade in and have them put the money back on my debit card. lol

I’m confused. your Apple cash you earned for the full amount of the phone was not reduced by 3% of the trade in credit? That’s a good thing right?

Im waiting on my credit now so I’m very curious to how this works.

 

[esf215]

I’m confused. your Apple cash you earned for the full amount of the phone was not reduced by 3% of the trade in credit? That’s a good thing right?

Im waiting on my credit now so I’m very curious to how this works.

Correct, but what they did instead was charge the 3% to my Apple Card. That usually how most cash back card work, but I was just hoping apple would let it slide for their purchases

 

[izzle22]

Correct, but what they did instead was charge the 3% to my Apple Card. That usually how most cash back card work, but I was just hoping apple would let it slide for their purchases

Ahhhh. So you got your credit for your trade minus the 3%? Got it. So my trade in credit is supposed to be $400. It will be $388 instead?

 

[esf215]

Ahhhh. So you got your credit for your trade minus the 3%? Got it. So my trade in credit is supposed to be $400. It will be $388 instead?

Basically yes

 

[izzle22]

Basically yes

Thank you for the clarification and info!!

 

[esf215]

Thank you for the clarification and info!!

I did reach out to the author of that article and he said the same thing happen to him after being told something different by apple and Goldman Sachs. He is reaching out to them again and going to update that article when they respond