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

[gugy]

If Apple can extend this to all products, that will be very enticing to get the card. Maybe start offering on products above $500.
I will definitely need to purchase any of the Pro products....

 

[neoelectronaut]

Wait, I thought that was the point of the Apple upgrade program...you pay the phone off over 24 months with the option to upgrade sooner if you decide to do so, did that come with interest?

 

[BF1M]

Great idea!

 

[CLS9]

I hope they eventually include all Apple products (including refurbs) with this kind of payment plan. Then I can get rid of my Barclay card.

 

[kevink2]

Isn’t this what I’m already doing essentially? Paying the installment every month via Apple Card.

Well, if you buy a phone through, say, Verizon for 24 months the end result is the same. No interest. Except that, if you buy with the Apple Card you aren't tied to Verizon. So can change carrier easily.
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Wait, I thought that was the point of the Apple upgrade program...you pay the phone off over 24 months with the option to upgrade sooner if you decide to do so, did that come with interest?

The fine print for that is probably different.

 

[Chrome262]

whoooho 30 bucks back lol

 

[kevink2]

I so hate debt that this isn't something appealing to me. I paid my car off a little over a year into a 5 year loan because I hate knowing I owe money. I even wanted to pay off my optometrist before they sent me my bill (I know how much I owe based on the insurance EOB).

But I persist in using my newest iPhone, the X. My backup phone is an even older iPhone.

 

[konqerror]

When is it coming to the UK? Come on Apple, make it happen.

When you guys leave the EU and up your credit card interchange rates.

 

[BuddyTronic]

Wow - this Banker trickery is good enough to even make me consider getting this card! That appears to be the only way to get a discount on a new iPhone. Pretty slick.

seriously - they are indeed doing some big stuff with this credit card.
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I so hate debt that this isn't something appealing to me. I paid my car off a little over a year into a 5 year loan because I hate knowing I owe money. I even wanted to pay off my optometrist before they sent me my bill (I know how much I owe based on the insurance EOB).

But I persist in using my newest iPhone, the X. My backup phone is an even older iPhone.

Pay off your credit card statement on time! No debt.

 

[jlocker]

I think that Apple should extended it to the Mac line also. You could buy a Mac for $2400 and you only have to pay $100 dollars a month and you own the computer interest free in 2 years. People spend more money on food or entertainment monthly. And you have a great computer to use for many years.

Or you wanted a new Mac Pro Tower it would only cost you $250 a month. You could do $250 a month work on it and the Mac Pro would end up free.

 

[waquzy]

When you guys leave the EU and up your credit card interchange rates.

Ouch!!! That hurts.

lol, not really.

 

[npmacuser5]

Not unless your Apple card came with 0% interest.

It already comes with free interest....pay it off every month!👏

 

[gsmornot]

Why limit this to iPhone. Apple should make all Apple purchases interest free with a term of some kind. Shorter or longer based on the purchase price bracket it falls into. 6 months for accessories up to AirPods, 24 months for iPhone and MACs less that $2k. 30-36 for MACs more than $2k. Something like that. And cash back, why not.

 

[ActionableMango]

I'd rather buy it with a card that extends the warranty by a year....worked out well for me in the past with iPhone 6 repair (Discover).

You better switch cards for next time, because Discover no longer has that benefit.

 

[waquzy]

Why limit this to iPhone. Apple should make all Apple purchases interest free with a term of some kind. Shorter or longer based on the purchase price bracket it falls into. 6 months for accessories up to AirPods, 24 months for iPhone and MACs less that $2k. 30-36 for MACs more than $2k. Something like that. And cash back, why not.

Yep, I agree, this makes sense. Scrap the idea for accessories though as I’m sure most people can afford them outright. We definitely need the 24-36 months interest free on Macs and MacBooks!

 

[gsmornot]

I so hate debt that this isn't something appealing to me. I paid my car off a little over a year into a 5 year loan because I hate knowing I owe money. I even wanted to pay off my optometrist before they sent me my bill (I know how much I owe based on the insurance EOB).

But I persist in using my newest iPhone, the X. My backup phone is an even older iPhone.

Interest free and you can pay it over time. If you’re focused on money you know its better than paying all at once. The money you spent could have been growing in an investment over that period of time. Take advantage of the no interest from time to time. I do it with things that I could have paid cash for from the start just so I don’t lay out the money all at once, I use it for other things for a while.
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Yep, I agree, this makes sense. Scrap the idea for accessories though as I’m sure most people can afford them outright. We definitely need the 24-36 months interest free on Macs and MacBooks!

After posting I thought about the lower end as it does not apply to me but it could be applied at a higher level to something like the watch.

 

[jlocker]

I love my Apple Card, it helps me keep control of my spending and i can look at my phone and see if I am spending to much this week.

 

[npmacuser5]

Another nice Apple Card benefit.👏

 

[B4U]

So, unlike the Citizen One iPhone upgrade program, this is not a new loan and a hard pull on the credit report?

 

[ApplelD]

So this is paying the iPhone off over 24 months at 0% interest though it'll not involve Citizens One or Barclaycard anymore... is the "Apple iPhone Payments" identical to this except no Citizens One? Because they have not mentioned being able to upgrade every year like this or whether you're also getting Applecare+ added on too as part of the financing? If it had either of those it would be more like the iPhone Upgrade Program... another thing I hope they allow with this would be letting you pay off the entire remaining amount you owe at any time rather than them forcing you to pay it off over 24 months with no exceptions or else... If anything this feels like the "Apple iPhone Payments" option simply dumping Citizens One and moving to the Wallet App...

I wonder if Apple will allow this for SIM-FREE iPhones so that you're not required to have an account with one of the big 4 phone service companies to qualify... that way people who use Prepaid phone companies like Cricket Wireless or Boost Mobile join unlike the iPhone Upgrade Program or Apple iPhone Payments require

 

[DotCom2]

So this is paying the iPhone off over 24 months at 0% interest though it'll not involve Citizens One or Barclaycard anymore... is the "Apple iPhone Payments" identical to this except no Citizens One? Because they have not mentioned being able to upgrade every year like this or whether you're also getting Applecare+ added on too as part of the financing? If it had either of those it would be more like the iPhone Upgrade Program... another thing I hope they allow with this would be letting you pay off the entire remaining amount you owe at any time rather than them forcing you to pay it off over 24 months with no exceptions or else... If anything this feels like the "Apple iPhone Payments" option simply dumping Citizens One and moving to the Wallet App...

I wonder if Apple will allow this for SIM-FREE iPhones so that you're not required to have an account with one of the big 4 phone service companies to qualify... that way people who use Prepaid phone companies like Cricket Wireless or Boost Mobile join unlike the iPhone Upgrade Program or Apple iPhone Payments require

Very good questions that I would like an answer to as well.

 

[gugy]

I so hate debt that this isn't something appealing to me. I paid my car off a little over a year into a 5 year loan because I hate knowing I owe money. I even wanted to pay off my optometrist before they sent me my bill (I know how much I owe based on the insurance EOB).

But I persist in using my newest iPhone, the X. My backup phone is an even older iPhone.

If you pay your bills on time and take advantage of 0% interest. It's a win-win. You can invest your money. It takes discipline. I get your feeling of hating to owe money but if you play it right, it is advantageous to you.

 

[jarman92]

Isn’t this what I’m already doing essentially? Paying the installment every month via Apple Card.

Yes, but they're taking out the middleman and their heinous website.

 

[techfreak23]

So how does this work with a credit limit? Is it using your actual credit limit to finance the device or is it a separate program that we Apple Cardholders will have access to...? 🤔

 

[Rogifan]

Hey Apple let me do this for my iPad Apple Watch and AirPods.