It's not that simple. Zero percent yes but the fact is this loan program requires an inquiry on your credit. Someone in the market for a home or who just didn't want one is a valid reason to pay in full or use carrier financing. And it requires a new inquiry every year who wants new inquiries every year for a phone.
Only the first credit inquiry is a hard inquiry, any resulting inquiry based on the IUP program is a soft inquiry. A soft inquiry is similar to you getting a credit report or a lender you currently do business with extending another loan. Also, if you are in the market for a home the inquiries all count as one if done within a 45 day period usually.
If you can get Zero percent interest it's a no brainer. Use someone else's money to buy something. Put yours into something that will pay you during the time of the loan.
The credit reports were designed to stop someone from signing you up for 6 or 7 credit cards and charging away without your knowledge (though they don't tell you if that happens, which is what they were supposed to do). ...or you just not paying your own. Overall, they are just selling your signature. It's just 'bills of exchange' and doesn't carry any real value without your signature. Food for thought!
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I agree. You shouldn't hurt your credit to buy a phone especially if you're paying for it anyways. The only good way to buy an iPhone is to purchase it full price. Then sell it locally for cash when you want to upgrade. Selling my 6S mostly paid for my 7.
Why would you pay out of pocket full price when you can get Zero percent financing. Use someone else's money to buy your stuff and put yours in something that will give you a good or decent return.
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In addition to what others have said about iup eg credit or just not wanting to join how about how Apple treated first year people no thanks. And for me anyway it's not about waiting for stock it's about the iup customers all up in arms over people getting phones using any valid method. This iup program is highly overrated for what it is. Now yes if Apple charges a bit more for the program and guaranteed an earlier pre order period I'm sure they would see a huge spike in use of the program.
I'm pretty sure that was what the program was supposed to be, though horribly implemented. Too many people involved getting 60mil stock bonuses and cash outs. Videos hanging out with top artists and hanging with other execs. Making sure things are functioning seems to be problem reaction based at Apple for the moment, with lots of top tier payouts. A router with a 2.0 usb hub, seriously outdated computers. No actual graphics presence for a technology company other than the phones. ...Anyway.
I had thought when I seen the initial announcement of IUP that it was a genius idea. You buy a phone on this date and you get what ever phone you want on the anniversary of that date. That was the beginning of the true Apple eco-system. It's been used so far in only a couple weeks to be taken advantage of without paying for it, and other things. As I stated above, they should have been able to replace any phone at the exact same date one year later. Then open it up to walk in customers for new phones. If they ever, EVER say, "we guarantee our IUP customers a new phone on launch", which is what I expected, and kind of what they implied, the program would really take off.
Disclaimer: Still using my 3+ year old iPhone 5s.