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Apr 12, 2001
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During today's earnings call for the fourth quarter of 2019, Apple CEO Tim Cook announced a new feature that's coming to Apple Card later this year -- fee free iPhone payments.

Customers will be able to purchase a new iPhone using Apple Card and pay for it over 24 months with no interest. Customers will continue to get three percent cash back for the purchase as well.

apple-card-titanium-and-app-800x398.jpg

There's no specific word on when the iPhone payment plan will be available, but Cook did say that it's coming this year, so it could perhaps be introduced ahead of the holiday season.

Cook said that Apple has been "thrilled" with the reception to Apple Card since its August launch. He said that Apple believes it was the "most successful launch of a credit card in the United States ever."

Article Link: Apple Card Owners Will be Able to Purchase an iPhone and Pay Over 24 Months With No Interest Starting Later This Year
 

26139

Suspended
Dec 27, 2003
4,315
377
Interesting. I was thinking about using my Apple Card to "buy" an iPhone financed over 24 months and just pay it off monthly, this looks like the equivalent minus the middle man.
So really no different...right?
 

newyorksole

macrumors 603
Apr 2, 2008
5,124
6,429
New York.
Isn’t this what I’m already doing essentially? Paying the installment every month via Apple Card.

Yeah but with this new option you won’t have to deal with Citizens Bank. This also might not be the same as the iPhone Upgrade Program where you have an annual upgrade. iUP also does a hard credit check, this new option likely doesn’t need to.
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Interesting. I was thinking about using my Apple Card to "buy" an iPhone financed over 24 months and just pay it off monthly, this looks like the equivalent minus the middle man.
So really no different...right?

What do you mean pay it off monthly? If you carry a balance, you pay interest. If you “pay it off” you’re not paying for it monthly.

Just trying to figure out exactly what you mean. This new option means no interest. If you do it your way without this new method you’d be paying interest.
 

AppleFan91

macrumors 68000
Sep 11, 2012
1,798
3,783
Indy, US
I’d be here for it if it still gave me the option to upgrade annuity. Especially since this wouldn’t have a hard inquiry on my report. But that annual upgrade loss makes it a no for me
 

konqerror

macrumors 68020
Dec 31, 2013
2,298
3,701
Isn’t this what I’m already doing essentially? Paying the installment every month via Apple Card.
Yeah but with this new option you won’t have to deal with Citizens Bank.

It does sound like they're moving to Goldman Sachs from Citizen's Bank. Makes sense that Apple would include this with the Apple Card deal, and because GS already does personal loans (Marcus).
 

Mr. Dee

macrumors 603
Dec 4, 2003
5,990
12,833
Jamaica
I am looking to upgrade in 2021, so, I will likely take advantage of this financing. I bought my iPhone X full retail pricing, but it was bit of a shock to the system.
 

turbineseaplane

macrumors Pentium
Mar 19, 2008
15,085
32,422
This will be perfect to roll out before the next round of iPhone price hikes..

"Sure it starts at $1499 and goes up to $2499 - BUT! Zero interest if you use the Apple Card!"
[automerge]1572474137[/automerge]
I am looking to upgrade in 2021, so, I will likely take advantage of this financing. I bought my iPhone X full retail pricing, but it was bit of a shock to the system.

It's still the same shock to the system, just delivered in monthly micro shocks
 

turbineseaplane

macrumors Pentium
Mar 19, 2008
15,085
32,422
Interesting. I was thinking about using my Apple Card to "buy" an iPhone financed over 24 months and just pay it off monthly, this looks like the equivalent minus the middle man.
So really no different...right?

giphy.gif


Excellent response from @newyorksole though..

What do you mean pay it off monthly? If you carry a balance, you pay interest. If you “pay it off” you’re not paying for it monthly.
 

trip1ex

macrumors 68030
Jan 10, 2008
2,963
1,516
apple knows how to get people to buy stuff. this definitely makes it more difficult to resist.
 
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