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Apple Planning Apple Card Financing Options for Devices Other than iPhone

adampk17 said:
How about cards for spouses, Apple.....please?
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Agreed, it would probably tip me over from Amex to Apple if that happened.
Amex has a great +1 year warranty but it's also almost $500/yr for my wife and I which just seems wasteful. The metal card is something I've always enjoyed and if Apple has one too with no yearly then I may be tempted.
 
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moabal said:
Yes!! This is fantastic. I know some people are against credit. However, if you are responsible this makes complete sense. Seems like a natural extension to what Apple is already doing for iPhones.

Question, I know that the installment payments are added to the minimum payment. Is it possible to pay that installment payment with the full monthly statement balance at the same time? Not sure if anyone has experience with this.
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Yup, I do this every month. I have auto pay on for the full statement balance and I have two iPhones financed.
 
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YetAnotherAppleFan92 said:
Sounds good. How about bringing it to other countries as well?
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Yes, that will likely be the most important benefits for countries with very little to no cash back rebate on credit cards.

I have always thought Apple Card will be part of the tools to push up product prices. Seems that is not the case here, the grand plan for Apple is sometimes hard to follow without more data.
 
PhireWare said:
Yup, I do this every month. I have auto pay on for the full statement balance and I have two iPhones financed.
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So to clarify let’s say your two iPhone installments are $50 a month and last month you put $300 in discretionary spending. You are saying that putting auto pay with pay full statement would result in a $350 payment and not accidentally paying the whole phone?
 
moabal said:
So to clarify let’s say your two iPhone installments are $50 a month and last month you put $300 in discretionary spending. You are saying that putting auto pay with pay full statement would result in a $350 payment and not accidentally paying the whole phone?
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You would be correct. Also i could be wrong but when i last opened the card in the wallet - i can actually see the installment “tab” there you can down pay the balance in part or in full (last time i looked).

Its actually quite convenient. I also financed 2 devices over the holidays with the 6% promo and thus far i have $400ish in apple cash with performing typical daily purchases which can be used in paying for statement or apple products. 24m financing on watches or ipads could be a great thing if you dont want to put down the full amount up front.
 
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MacRumors said:


Apple may be planning to introduce interest-free Apple Card payment plans for devices other than the iPhone, Apple CEO Tim Cook said during today's earnings call covering the second fiscal quarter of 2020.

apple-card-titanium-and-app.jpg

In the Q&A portion of the call, Cook was asked about the potential for deferred payments or product bundles with the Apple Card, and he had this to say:Apple in December introduced a 24-month interest-free iPhone installment plan for Apple Card owners. The plan lets Apple Card users purchase a new iPhone with the Apple Card and pay for it over a 24-month period with zero interest, while also getting 3 percent Daily Cash back for the purchase.

Monthly iPhone payments are bundled into Apple Card's Monthly Installments, with each month's installment included in the minimum payment amount. Installments are not subject to interest unless there's an outstanding balance beyond the 24-month payment grace period.

Though Cook did not divulge much information, Apple could introduce similar payment plan options for other products such as iPads and Macs, which are particularly popular right now as people work and learn from their homes.

During the pandemic, Apple has also introduced an Apple Card Assistance Program that allows Apple Card holders to skip their March and April payments without incurring interest charges for that billing cycle.

Article Link: Apple Planning Apple Card Financing Options for Devices Other than iPhone
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I wish Apple would open up Apple Pay to other qualifying platforms. That would be huge for Apple and customers.
 
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This is awesome. I may use this option to buy a new iPad. Probably the Air 4 when it comes out.
 
moabal said:
Yes!! This is fantastic. I know some people are against credit. However, if you are responsible this makes complete sense. Seems like a natural extension to what Apple is already doing for iPhones.

Question, I know that the installment payments are added to the minimum payment. Is it possible to pay that installment payment with the full monthly statement balance at the same time? Not sure if anyone has experience with this.
Click to expand...

I’ll let you know. I bought the SE with my Apple Card, and I was planning on paying in full, but I’ll do the first month as a normal payment. 1) to see if you actually can pay in full and 2) to see if the entire balance shows on your credit report or if Apple basically adds the installments each month.
 
It would be nice to see Apple Card expand to other countries, but I doubt it anytime soon.
 
So is the only positive other than the barclaycard the %3 daily cash?
 
mattopotamus said:
I’ll let you know. I bought the SE with my Apple Card, and I was planning on paying in full, but I’ll do the first month as a normal payment. 1) to see if you actually can pay in full and 2) to see if the entire balance shows on your credit report or if Apple basically adds the installments each month.
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I did receive confirmation yesterday that my made up scenario was correct from the iMessage support from Goldman Sachs. However, I really need to see actual customer input. Appreciate the help.
 
moabal said:
Yes!! This is fantastic. I know some people are against credit. However, if you are responsible this makes complete sense. Seems like a natural extension to what Apple is already doing for iPhones.

Question, I know that the installment payments are added to the minimum payment. Is it possible to pay that installment payment with the full monthly statement balance at the same time? Not sure if anyone has experience with this.
Click to expand...
Its not fantastic.

For one thing it’s socially corrosive. If Apple knows that people cannot financially afford it’s product then the socially responsible thing to do is to realign it’s business to the realities of the human beings out there. That means lower priced products, smaller executives bonuses and lower dividends and no stock buybacks.

Secondly, once a major growth company reaches for financing as a weapon that’s a warning sign to shareholders that the party is coming to an end. I remember seeing this in the US auto sector and the satellite dish business. If you need to float Consumer debt to supporting your sales growth, it’s freaking over. That game only ends one way - an almighty crash.

Last but not least - common sense. A mobile phone is NOT an asset. It’s aconsumer electronics device with a short lifespan and its value depreciates fast - in any society that’s something everybody knows you should NOT buy on credit. Instead cut your coat according to your cloth. Buy what you can actally afford.

Shame on Apple. Shame.....
 
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skipping march and april is nice but what about may and possible june, i'm fortunate enough to have cash on hand to pay off so i don't incur interest for may, but pretty sure not everyone has the same privilege. out of my 3 other cards, BOA, TD, chase, apple/goldman is the only one not offering differ payment in may.
 
moabal said:
So to clarify let’s say your two iPhone installments are $50 a month and last month you put $300 in discretionary spending. You are saying that putting auto pay with pay full statement would result in a $350 payment and not accidentally paying the whole phone?
Click to expand...
Yes. The phone balances don’t even show up as part of the full card balance. I can pay off the card and get it to $0 and the phones won’t be paid off. There’s no way to pay off the card and phones balances in one transaction.
 
Osamede said:
Its not fantastic.

For one thing it’s socially corrosive. If Apple knows that people cannot financially afford it’s product then the socially responsible thing to do is to realign it’s business to the realities of the human beings out there. That means lower priced products, smaller executives bonuses and lower dividends and no stock buybacks.

Secondly, once a major growth company reaches for financing as a weapon that’s a warning sign to shareholders that the party is coming to an end. I remember seeing this in the US auto sector and the satellite dish business. If you need to float Consumer debt to supporting your sales growth, it’s freaking over. That game only ends one way - an almighty crash.

Last but not least - common sense. A mobile phone is NOT an asset. It’s aconsumer electronics device with a short lifespan and its value depreciates fast - in any society that’s something everybody knows you should NOT buy on credit. Instead cut your coat according to your cloth. Buy what you can actally afford.

Shame on Apple. Shame.....
Click to expand...

Unless it’s something you can afford in the first place and said credit is offered at 0%.
 
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Osamede said:
Its not fantastic.

For one thing it’s socially corrosive. If Apple knows that people cannot financially afford it’s product then the socially responsible thing to do is to realign it’s business to the realities of the human beings out there. That means lower priced products, smaller executives bonuses and lower dividends and no stock buybacks.

Secondly, once a major growth company reaches for financing as a weapon that’s a warning sign to shareholders that the party is coming to an end. I remember seeing this in the US auto sector and the satellite dish business. If you need to float Consumer debt to supporting your sales growth, it’s freaking over. That game only ends one way - an almighty crash.

Last but not least - common sense. A mobile phone is NOT an asset. It’s aconsumer electronics device with a short lifespan and its value depreciates fast - in any society that’s something everybody knows you should NOT buy on credit. Instead cut your coat according to your cloth. Buy what you can actally afford.

Shame on Apple. Shame.....
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"Socially corrosive." Lmao. You sound privileged.

If this program allows a child to have a computer or an iPad because their parents cannot buy the product immediately, then this alone is a great reason for the program.
 
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