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Apple Card's 24-Month Interest-Free iPhone Installment Plan Available Starting Today

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macrumors bot
Original poster
Apr 12, 2001
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Apple Card's interest-free monthly installment plan for the iPhone is launching in the United States today, as noted by TechCrunch.


The plan allows customers to purchase a new ?iPhone? with ?the Apple Card? and pay for it over 24 months with no interest. Customers will continue to get 3% Daily Cash back for the iPhone purchase as well, or an increased 6% Daily Cash until December 31 as part of a holiday promotion announced today.

When paying for an iPhone with Apple Card Monthly Installments, each month's installment is included in your minimum payment amount. And unlike other purchases with the Apple Card, the installments are not subject to interest unless there is an outstanding balance beyond the 24-month grace period.

Apple Card Monthly Installments are available for purchases made at Apple Stores, Apple.com, and through the Apple Store app.

Apple already offered iPhone financing through its iPhone Upgrade Program, but the Apple Card plan has a few advantages, including cash back, managing payments in the Wallet app, and no late fees.

Apple has shared more details in a support document.

Article Link: Apple Card's 24-Month Interest-Free iPhone Installment Plan Available Starting Today
 
Last edited:

manhattanmania

macrumors 6502
Jul 9, 2007
250
63
This is pretty dumb. There’s no diff between the myriad of options that were already available. You get cash back w iUP if you use Apple Card already.
Was really hoping this option would have been available for unlocked & SIM-free: now THAT would have been great. Alas, still no real way to get financing on that option (beside Barclay).
 
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smoking monkey

macrumors 68000
Mar 5, 2008
1,537
552
I HUNGER
It's a clever way to get you to sign up for a card. How much does it cost a year? If it's free then why not get one and buy an iphone that way. If you've got a mortgage they will help you save money.
 
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ghostface147

macrumors 68040
May 28, 2008
3,434
3,241
Do you get up upgrade after a year? Probably not. I haven't seen any literature saying yes.
 
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CheesePuff

macrumors 65816
Sep 3, 2008
1,177
917
Southwest Florida, USA
This is pretty dumb. There’s no diff between the myriad of options that were already available. You get cash back w iUP if you use Apple Card already.
Was really hoping this option would have been available for unlocked & SIM-free: now THAT would have been great. Alas, still no real way to get financing on that option (beside Barclay).

This does support unlocked
[automerge]1575988743[/automerge]
I am still confused on one thing. If you are someone who automatically has the full balance paid monthly on the due date, will the full balance of the phone be included in that amount or only the monthly installment?

They're kept separate, and the balance of the phone does not affect your overall card balance
 
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Drogba11

macrumors regular
Jan 29, 2018
242
558
I wonder if they let you pay it all off before the end of the year to get the 6% cash back on total cost of the phone. Anyways I pay my IPU with my Apple card and already get the 3% cash back and the option to upgrade after 12 months which I think is a lot better than this.
 
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Mlrollin91

macrumors G5
Nov 20, 2008
13,724
9,320
Ventura County
I don’t like the fact that it comes out of your usable credit limit. That means, every month, you’re revolving credit will have a higher balance, thus, affecting your score. The iPhone upgrade program does not count as revolving credit, nor does it even show up on my credit report. I had the initial hard inquiry 5 years ago, but since then it has never appeared. This seems like a way to hurt your credit in the long-term.
 
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JosephAW

macrumors 68040
May 14, 2012
3,578
4,205
I could buy one with my barclay but have to pay interest. They won't give me an Apple Card because I have a barclay.
 
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fmcshan

Editor
Apr 8, 2019
223
749
This is neat, however, I prefer the iPhone upgrade program because I can get a new iPhone each year (that includes AppleCare+) for a fixed rate. The 3% Daily Cash also applies to this.
 
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Rogifan

macrumors Core
Nov 14, 2011
22,259
27,962
So will this eventually replace citizens one (if you have an Apple card)?
 
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moabal

macrumors 6502
Jun 22, 2010
488
1,752
I am still confused on one thing. If you are someone who automatically has the full balance paid monthly on the due date, will the full balance of the phone be included in that amount or only the monthly installment?

I would like to know that too. I would pay my card off in full minus the phone if possible.
 
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MoreRumors?

macrumors 6502a
Feb 28, 2018
894
674
Apple is really upping the incentives to get more sales on iPhone before end of the year and increase in new applicants for the Apple card as well. It's a good time to take advantage of these incentives.
 
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4sallypat

macrumors 68000
Sep 16, 2016
1,601
1,298
So Calif
I have both cards so that must not be your reason
same here -
I have both Barclays Apple Reward card which hasn't been used at all and the Apple Card I use everyday...

Any advantages using the Apple Rewards Visa versus Apple Card MC ???
 
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Johnny Steps

macrumors 6502a
Jun 29, 2011
505
315
This is a great option for the flexibility it offers. You don’t have to drop a lump sum of money on it. This is, of course, assuming you are properly using a credit card the way it’s supposed to be used and not how the banks hope you do!
 
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