Apple Card payment deferment program extended through June

AppleInsider

In light of the ongoing coronavirus pandemic, Apple Card customers can now defer their payments through June without any penalties.

Credit: Apple

The Customer Assistance Program first allowed Apple Card customers to defer their payments in the month of March. Since then, Apple and Goldman Sachs have extended the program through April and May as well.

Cardholders should now be receiving emails that the program applies to payments deferred through the end of June in the midst of continuing economic uncertainty due to coronavirus. Although penalties and additional interest charges will be waved, balances will still accrue interest.

To enroll in the program, customers must explicitly opt-in by contacting a support representative through the Wallet app on an iPhone.

It isn't clear if the program will be extended once again come July, but Apple CEO Tim Cook has hinted that Apple and Goldman Sachs will continue to allow deferments throughout the duration of the current global health crisis.

Appleish

I timed some purchases well. I have about four grand on my card, from right when they started this. I was going to pay it off right away, but they started this program. Keeping the cash earning interest while I wait for their generosity to wane.

[Deleted User]

Appleish said:

I timed some purchases well. I have about four grand on my card, from right when they started this. I was going to pay it off right away, but they started this program. Keeping the cash earning interest while I wait for their generosity to wane.

For March and April there was no interest accrued on the card balance but in May and June the balance accrues interest. I would think it is hard to beat the interest payment for the card in the market but I could be totally wrong. 

beowulfschmidt

Thank the gods I don't need to take advantage of this.  Helpful for those who do, though. I can't help but wonder how GS feels about not collecting interest for those first two months though. I wonder if Apple paid it, or if they strong armed GS into just accepting it.

Not that I'll ever know for sure.