How does it work then. It appears you have to purchase the phone in full. What happens on the back end in the Apple Card settings itself?
The language in the footnotes do not seem promising. Not to dismiss what your are saying.
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Apple Card Monthly Installments: How the Interest-Free iPhone Financing Plan Works
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How does it work then. It appears you have to purchase the phone in full. What happens on the back end in the Apple Card settings itself?
The language in the footnotes do not seem promising. Not to dismiss what your are saying.
You do purchase the phone in full. When it's time to make a payment, as long as you pay 1/24th of the iPhone purchase price, plus whatever minimum payment is due on your other purchases, there will be no interest on your remaining iPhone balance.
Not until the end of the month in which you buy your phone. From Goldman Sachs:
"Your Apple Card Monthly Installments are billed to your Apple Card statement on the last day of the month. If you buy your iPhone with Apple Card Monthly nstallments in store, your first monthly payment is billed at the end of the month when you pick up your phone from the store. If you buy your iPhone with Apple Card Monthly Installments in the Apple Online Store or in the Apple Store app, the first monthly payment is billed at the end of the month in which your iPhone ships."
Does this mean then that, for now, you see no charges for the new phones you bought in your Apple Card history? Or, are you seeing the full purchase prices?
I guess I’m trying to understand what information you’re seeing, either during checkout or after, that is confirming for you that the new phones will be on installment plans.
How does their payment processing distinguish between someone who is paying for their SIM-free/unlocked iPhones with an Apple Card on the 24mo installment plan from those paying with an Apple Card all up-front? Because from how I understand you, it would seem that you’re saying that, when purchased on an iPhone with Apple Card, they’re saying any transaction for a SIM-free iPhone will be treated as an Apple Card Monthly Installment plan regardless if the purchaser wanted to actually pay in full.
If you want to use your Apple card to purchase a 512gb iphone 11 max pro for $1,500 on their monthly installment plan can you do that if yor credit limit is $1,000?
And a follow-up chat with Goldman Sachs confirms that this “promotion” (the Apple Card Monthly Installment plan) is not now, nor will it become, applicable to “Unlocked and SIM-free” phones:
Pretty stupid since you can get phones on installment from the carriers anyways. The only difference is slight cash back.
Hmmmmm something about this doesn't sound right though. Either it states it as a true installment plan or it doesn't. Dunno though. I sure hope you're right.
Carriers require a post-paid plan in order to finance a phone, and not all carriers offer financing. With all of their activation fees and plan charges, the total expense ends up being much higher. The Apple Card plan works with pre-paid, post-paid and any carrier, and there are zero charges from the carrier to activate your new phone. In addition, a minimum of $60 cash back per phone isn't "slight" to many people.
I know you keep saying this installment plan can be done with prepaid. However, other people on reddit are saying the opposite.
You bought two iPhones, whether they are financed at 0% APR or not is left to be seen.
I just got back from my local Apple Store. I went in to buy an iPhone XR Unlocked, Sim Free. I told the guy I wanted to put it on my Apple Card and take advantage of the 6% Daily Cash back and also the 0% Apple installment Plan. He gave me a look and said "Well I don't know if the Sim Free phones are available on that plan but lets ring it up and try. He said when you buy something the Apple Card will give you the option. Well it did not work! It would only let me do the "One Time Payment". So there ya go. If you were able to buy a Sim Free iPhone and put it on installments, you some how sneaked it in. All I know is that it did not work for me and the guy tried.
I tried to buy an IPhone 11pro with the Apple Card zero interest installment plan. I tried it yesterday for a few hours and went today into a store. After the First „Specialist“ didn’t know if it is working on a prepaid phone plan the second one told me that you can inlay for it with a postpaid contract with the 4 major Carriers. It is not mentioned anywhere on their web page, it only tells you how easy it is to use but neglects the fact that you need to have a postpaid phone plan as well. For me that whole thing is like click bait.
I agree. I certainly think it has to do with apple getting some sort of kick back from the carriers. Just like when the 11 pro released it wasn't available sim free, presumably because they wanted enough stock to satisfy the carriers first.
If Apple starts selling other Apple devices (Tablets, Computers, etc.) on installment with the Apple Card then it would probably be the case where SIM Free phones are as well. Only time will tell.
However, this program is pretty disingenuous based on how they introduced/marketed it. Almost everyone thought it would work with SIM Free iPhones out the door.
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I sure thought it meant that, I even told the wife that I may finally just go ahead and upgrade. Then the Fien print decided otherwise.
You get all the cash back up front.
"* 6% savings is earned as Daily Cash and is transferred to your Apple Cash card when transactions post to your Apple Card account."
When the purchase posts to your account, not when your payments post. And it's 6% of the total purchase, including sales tax.
Gotta love the pontification followed by the exceptions to suit your needs! Brilliant!
Up to this point, for the past 10 years I have paid in full for all of my iPhones. This is the first time I'm considering the 24 months payment plan due to the 6% cash back. But I don't want to be under a contract with AT&T.
My current Xs Max is fully paid off, so I am eligible for an upgrade with AT&T. If I get the 11 Pro Max at the Apple store on my Apple Card, and activate with AT&T (which deactivates the SIM on my old phone), then I get the 6% cash back and I can pay over 24 months interest free with NO 2yr AT&T CONTRACT, correct?
If that is correct ^ I may consider doing that. Another option is to buy through a family member who is an Apple employee and get 15% off, but I can't pay over 24 months and would have it as a regular charge. Making interest free payments for 24 months to AT&T doesn't make sense if I don't get the 6% cash back. But if I buy through the family member I'd have to pay it off as well as all my normal monthly expenses (4 figures a month) in order to remain interest free. 12.49% is still my second lowest interest rate card, but I haven't paid CC interest in years.
My current Xs Max is fully paid off, so I am eligible for an upgrade with AT&T. If I get the 11 Pro Max at the Apple store on my Apple Card, and activate with AT&T (which deactivates the SIM on my old phone), then I get the 6% cash back and I can pay over 24 months interest free with NO 2yr AT&T CONTRACT, correct?
If that is correct ^ I may consider doing that. Another option is to buy through a family member who is an Apple employee and get 15% off, but I can't pay over 24 months and would have it as a regular charge. Making interest free payments for 24 months to AT&T doesn't make sense if I don't get the 6% cash back. But if I buy through the family member I'd have to pay it off as well as all my normal monthly expenses (4 figures a month) in order to remain interest free. 12.49% is still my second lowest interest rate card, but I haven't paid CC interest in years.
