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Apple Card's 24-Month Interest-Free iPhone Installment Plan Available Starting Today
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If you need 24 months to pay off an iPhone, perhaps you should be buying a used iPhone 7 or 8 off of Swapa instead of getting the latest and greatest. 'Murica!
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I have a Barclay card and they approved me for an Apple Card.
Or, you take time to pay it off because it's an interest-free loan. The money you spend on the phone can sit in an account getting a little interest (or gaining more value if it's in a mutual fund or ETF or CD or whatever you think will safely gain value).
CRITCAL QUESTION - if you don't pay off the entire balance by month 24, does the interest hit, retroactive back for the entire amount? Many "24 months no interest" cards get you like that. You can have $1 left to pay at month 25 and all of a sudden, you get hit with 2 years of 25% interest on a $1500 purchase.
Here is a link to the details to the card. It is not clear if you can pay the full balance plus the monthly payment for the phone without paying for the entire phone.
https://support.apple.com/en-us/HT210644
https://support.apple.com/en-us/HT210644
Adding an extra $50 per month over 24 months is not going to hurt your credit.
it will be unlocked unless you choose at&t. i got mine with t-mobile through apple's upgrade program and it works fine with my overseas sim.
they've been rumoring this here for a couple of weeks... return it and get 6& cashback while you're at it
For those asking how the payments will work if you pay your balance in full each month I’m assuming it will be similar to the Chase Amazon card.
Example: If you purchase a $2400 laptop on Amazon with a 24 month/$100 month and still use the card for other purchases totaling say $500 your statement would look as follows; “Pay $600 to avoid interest”
Example: If you purchase a $2400 laptop on Amazon with a 24 month/$100 month and still use the card for other purchases totaling say $500 your statement would look as follows; “Pay $600 to avoid interest”
I hope they will eventually extend this option to other Apple products such as Mac or up to a certain amount like $200 for varied financing options 6/12/24 months.
This will lead to the end of Barclays Apple Reward card.
This will lead to the end of Barclays Apple Reward card.
Not worth the effort to me to set up a new phone and I already took the credit hit. I also want to upgrade to next years phone for 5G and wifi 6 support which does not seem possible this way.they've been rumoring this here for a couple of weeks... return it and get 6& cashback while you're at it
No. You will need to be apart of the Apple Upgrade program through citizens bank or through your service provider AT7T next or Verizon Jump.
i know that there is a difference, but in my case i found that the only difference was the lack of a simcard inside the phone at the time of purchase. but yes, if you need the unlocked and sim free phone - it won't work. but that's always been the case for all of these programs.
hm, that's a good point, you probably wouldn't be able to do upgrade every year this way...
From the looks of things, only the monthly installment. It only bills you that month's installment. It might even be impossible to pay off the phone in one month, even if you wanted to.
It's a depreciating asset. And lets be honest, most people who finance iPhones aren't using their extra money each month to fund a 401(k) or IRA.