This may already be documented somewhere else, but if not, I wanted to share.
I recently purchased a new iPhone with my Apple Card and opted to try the installment plan out of curiosity. Within a few days of the iPhone purchase, I happened to also receive a $400 refund to my Apple Card from a non-related transaction. At the time of the refund, my card balance was close to $0 and I was surprised to see that the refund was automatically applied to the installment plan as an early payment. I’m not concerned about it, but wanted to share the experience as an interesting and unexpected (to me) outcome of receiving a refund while having an active installment plan and an overall card balance less than the refund amount. I was planning on requesting the account “credit” be sent to my bank account (which I have done several times in the past), but that wasn’t an option due to the automatically generated early payment.
I recently purchased a new iPhone with my Apple Card and opted to try the installment plan out of curiosity. Within a few days of the iPhone purchase, I happened to also receive a $400 refund to my Apple Card from a non-related transaction. At the time of the refund, my card balance was close to $0 and I was surprised to see that the refund was automatically applied to the installment plan as an early payment. I’m not concerned about it, but wanted to share the experience as an interesting and unexpected (to me) outcome of receiving a refund while having an active installment plan and an overall card balance less than the refund amount. I was planning on requesting the account “credit” be sent to my bank account (which I have done several times in the past), but that wasn’t an option due to the automatically generated early payment.