Apple Reintroduces Financing Options in the United Kingdom

Discussion in 'Mac Blog Discussion' started by MacRumors, May 18, 2018.

  1. MacRumors macrumors bot

    MacRumors

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    Apple has resumed offering financing options in the United Kingdom after eliminating the option earlier this year. Apple has a new financing page on its UK website, outlining its Barclays financing plan.

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    While the financing page specifically focuses on the Barclays financing options, when checking out, customers can choose installment payments through Barclays or PayPal Credit.

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    To use the Barclays financing option, customers in the UK must make a purchase over £399. There is no interest for the first 12 months, with purchases split into reasonable monthly payments. PayPal Credit is available for purchases over £99, but there is no interest free option.

    It is not clear why Apple temporarily stopped offering financing in the United Kingdom, but full financing is now available once again. The company made the same change to financing in Canada in June of 2017, but has not yet reimplemented the financing options in that country.

    Article Link: Apple Reintroduces Financing Options in the United Kingdom
     
  2. ncmrnc macrumors newbie

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    May 14, 2018
    #2
    Yay!
    Now more people can be in debt. :) :rolleyes:
    .
    Seriously, if one is being considered for credit, that in itself puts them way ahead of the general population. Use the privilege wisely and don't go splurging on shiny toys on Day 1.
     
  3. GadgetBen macrumors 6502a

    GadgetBen

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    #3
    Barclays cherry pick only the highest scoring credit applicants.

    Shame on you Apple.
     
  4. keysofanxiety macrumors G3

    keysofanxiety

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    #4
    If they picked anybody with weak credit scores then you’d be just as quickly accusing Apple for getting people into debt with seemingly small payments but ones they can’t afford.

    “Ugh Apple only care about money. Shame on them for just wanting cash regardless if people can pay it or not.”

    Yeah, great credit score doesn’t mean you can pay something and poor credit score doesn’t mean you’re broke. But if you’re looking to finance a purchase like this then I don’t see why it’s so shameful as you described.
     
  5. JUiCEJamie macrumors 6502a

    JUiCEJamie

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    #5
    Personally, I think it’s because people in the United Kingdom are bums and they never pay their bills!
     
  6. PickUrPoison macrumors 68030

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    Sunnyvale, CA
    #6
    It’s hard to cover a lot of bad debts when the financing is at a 0% interest rate, so the requirements are no doubt rather stringent for the Barclay’s financing.

    PayPal credit, with their 14.9% interest rate, will finance those with lower scores who don’t qualify for Barclays.

    You will find this to be a common occurrence as you begin to utilize credit. The lower the risk of you defaulting, as evidenced by a higher credit score, the lower the interest rate you will be offered.

    If you pay late or skip out on debts, you may pay 30%+ interest, or more—and many times you won’t qualify at all, at any rate.

    Pay your bills on time for a few years and you’ll qualify for the lowest rates when you seek financing for the purchase of a car or home. Lenders look at your past track record to determine whether your likely to repay future loans.
     
  7. btrach144 macrumors 65816

    btrach144

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    #7
    Now the UK can live in debt like a majority of Americans!
     
  8. Futurix macrumors 6502

    Futurix

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    #8
    Don’t worry - we already do!
     
  9. iGeek2014 macrumors 68020

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    === Nowheresville ===
    #9
    Apparently we’re sending £350 Million a week to the European Union so we can’t afford our own bills...

    Oh... wait /s ;-)
     
  10. DRShissler macrumors newbie

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  11. saymangel macrumors newbie

    saymangel

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    #11
    That’s nice, I’d really like my line back in Canada though
     
  12. entropyfl macrumors regular

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    Oct 12, 2009
    #12
    Great news! Apple products are too expensive for them not to offer it. Now for the new MacBook Pro to be announced! 0% makes sense even if you have the cash in the bank
     
  13. tombombadil66 macrumors newbie

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    #13
    Ironically, people who have never been in debt tend to have sone of the lowest credit scores.
     
  14. Nalmond92 macrumors regular

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    UK
    #14
    Not ironic at all. You wouldn’t lend someone large sums of money with no proof that they have made good on their debts in the past. The finance company is still taking a gamble
     
  15. Ad13 macrumors regular

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    Sep 23, 2015
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    Manchester
    #15
    You mean they select the customers who are most likely to repay in full! I don’t blame them for being selective. Would you really give money away to people who you can pretty much guarantee to pay late, or not at all?
     
  16. lec0rsaire macrumors 65816

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    Feb 23, 2017
    #16
    Only makes sense for those who qualify for the Barclays option. Paying 14.9% for electronics is pretty stupid. If you can’t pay in full, save until you can unless you like throwing money away.
     
  17. 400 macrumors 6502

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    Wales
    #17
    T+C saying terms are offered between 18 May and 12 July inclusive, or have I missed something? Short term testing the water?
     
  18. apolloa, May 19, 2018
    Last edited: May 19, 2018

    apolloa macrumors G4

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    #18
    Get a credit card, get an overdraft, get a mortgage and you’ll get a higher credit score, more so if you use your overdraft and credit card allowances but pay them off month by month but don’t clear the total amount!
    If you have zero debt and no credit card or overdraft or never used them or had a loan for anything, your credit rating will be much lower.
    Stupid but there you go...

    I think 0% for 12 months is fantastic, but places like John Lewis also offer similar. That’s better then what a carrier will offer you on an iPhone contract!
    And that’s surprising for the scum of the earth banks and financial institutions... After all why should they care what they do? They aren’t taking any risks because if they go bust the British tax payer will just bale them out... again and again and again....
     
  19. davidb8 macrumors regular

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    Sep 30, 2013
    #19
    BS. I've put Barclays finance through for some of the scruffiest scrubbers you've ever seen
     
  20. jimthing, May 19, 2018
    Last edited: May 19, 2018

    jimthing macrumors 65816

    jimthing

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    #20
    So the 0% is seemingly only until 12 July?
    020D871A-16D6-4BEB-BFE3-070331B9E6C3.jpeg
    Sucky if so, as if Barclays match the 15% PayPal rate after that date, as looks likely, most sensible users shouldn't touch it with a barge pole, given unsecured loans can gotten for half that rate.
     

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  21. GaryMumford macrumors regular

    GaryMumford

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    UK
    #21
    Thanks. But I pay my bills. I have no credit. I paid off my mortgage early.
     
  22. Kebabselector, May 19, 2018
    Last edited: May 19, 2018

    Kebabselector macrumors 68030

    Kebabselector

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    Birmingham, UK
    #22
    It's fairly normal for them to offer it this way. The last time I had 0% from Barclays/Apple it was a short term offer (had to bag the 2012 Mac Mini that came up in the refurb store!).

    I did get turned down the last year when trying to get an Apple Watch2 (and other bits to push it over the £399) - might have been too low value an item as I have a very good credit history and rating - in the end I used some of my savings as my own 0% finance and just topped up my account for 12 months.

    I'm tempted to get a decent iMac* at some point so might use it for that, but I think John Lewis offer 0% (or low) credit on Apple purchases over a certain amount.

    *unless a Mac Mini turns up.
     
  23. Glockworkorange macrumors 65816

    Glockworkorange

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    Chicago, Illinois
    #23
    That’s because they have no credit/loan history.
    --- Post Merged, May 19, 2018 ---
    I don’t understand this. Are you saying they should offer 0% interest for people with low credit scores? Lol. If you run your business that way, you’re not going to be in business very long.

    Also, see, Housing Crisis, U.S.
    --- Post Merged, May 19, 2018 ---
    SUPER for you.
     
  24. Falhófnir macrumors 68030

    Falhófnir

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    Aug 19, 2017
    #24
    Finance plans like this should really only be available on macs to small businesses/ the self employed for business use. General consumers should instead go and talk to their bank manager about a loan, or better yet save up the money first. Not impressed with Apple encouraging consumers to take on debt to buy their products.
     
  25. FelixDerKater Contributor

    FelixDerKater

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