That's just psychological. lol. It's like any other purchase, and it's preferable that excess payments go to other purchases first, because they're the ones that potentially incur interest. If they didn't, the only sane thing to do would be to put the card in a drawer until you paid off the 0% purchase, and that wouldn't be beneficial to anyone.
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iPhone 12 Pro Max Apple Card installment plan better?
- Thread starter lsh
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gosh I didn't even think of that..... I've always bought with the at$t next program or whatever they had before.... so if we didn't like the color or size of the phone it would have been a hassle to return and wait for the eligilibity to come back. this year I'm using Apple Card for the 3% cash back and military site to order.... so if one of us don't like the color or any other reason... as long as the store has one in stock.... exchanging will be "easy"!
Wow! So apple card doesn't separate out promo balances? I always pay my balance in full each month.... I'm too cheap to pay interest on any cards! lol! But I know with lowes, Home Depot, Best Buy and others.... you CAN pay off your promo balances first... but then.... with those cards you've been accruing the interest and if you don't pay it off... you get slapped with all the back interest charges... so maybe that's the difference?
I have to echo... WHY would you want to pay off the 0% portion if you are carrying a balance that is incurring interest? Pay the portion costing you money FIRST!
While I'll be using it the first time tomorrow, I'm sure it does. They all do. This is basically a supercharged BNPL feature (Buy Now, Pay Later). I have a couple of Citi cards that have begun to offer it for some purchases, though for much shorter terms. My Chase Amazon Visa offers it for some Amazon purchases. The Best Buy Visa offers it on some Best Buy purchases. The only approach that makes sense is for payments in excess of the required payments on the 0% installment purchases to go to non-installment purchases. Otherwise, no one would use the cards except to make 0% purchases, and the banks would lose out on transaction fees and the chance that yes, some people would lose discipline and eventually end up paying interest on non-0% purchases.
When you get your statement, the installment purchases will be broken out separately each month. You have to pay the required installments, and then to avoid interest, you should pay off everything else you bought that month in full. It's really not that complicated.
BTW, what makes the Apple card so great is you still get the 3% cashback on Apple store purchases. My other cards make you trade whatever cashback they offer for BNPL; it's one or the other. With the Apple card, it's both.
that’s me! I only use Home Depot, best buy and lowes for large puchases with 0% promos and then pay the off on time!
i use other cash back cards for all other purchases and pay them off monthly. It’s a “game” to chose the right card for the best/most cash back!!!!!
I haven’t used Apple Card for monthly payments cuz you can’t combine the military discount and 0% payments so I have to do apple purchases in full.