Apple Card COVID-19 assistance program extended into August

AppleInsider

Apple has, once again, extended its COVID-19 Customer Assistance Program for Apple Card for another month, with customers able to defer their payments due in August without any penalty.

The ongoing coronavirus pandemic and the slow return to normal is making it financially hard for some families, leading to some tough choices about bill payments. In a continuation of the established program by Apple and financial partner Goldman Sachs, Apple Card customers are able to avoid one outgoing cost for the month.

Apple Card users are now able to defer their August payment without incurring interest. To do so, they will need to talk to a financial representative to request entry into the scheme, or to extend any existing deferments.

The program continues a pattern of assistance Apple has offered from March until July, with August's addition making it a total of six months of deferment for some customers.

How to request entry into the COVID-19 Customer Assistance Program

1. On your iPhone, open the Wallet app.
   
2. Tap the "..." button
   
3. Tap Message
   
4. Type "I want to enroll in the Customer Assistance Program."
   
5. Tap the send button

The deferment program is one of a number of initiatives Apple has put in place to assist its customers with financial planning. Apple Card offers the ability to buy Apple products in installments, gives insights via the Wallet app on how a user may better use the card to avoid paying interest on their outstanding balance, and in June Apple launched a four-month "Path to Apple Card" credit coaching program.

GeorgeBMac

Oh boy!

In addition to the virus getting stronger each day -- plus the expected infection surge from reopening schools, Unemployment assistance is going away and Evictions are now allowed.   

Then add on top of that all those who have postponed their credit card payments, let their balances build and will soon have enormous balances to pay on  -- while for many, their jobs may be permanently gone.

We have built a giant sinkhole that could suck us all down into the depths.

On the flip side:   I made enough in the stock & bond markets from the virus to buy myself a new car -- and I'm just a small fry.  The billionaires are making more billions...  

The social inequalities will become far worse than the sad state that they've been in:  the rich will be getting even richer while the poor even poorer -- often without jobs, food to eat or a roof over their heads -- along with a mountain of unpaid bills.

The next president will have a mountain of problems that could make 2008 look like child's play.

...  We will see.   The economists (at least publicly) aren't even talking the coming tsunami that could wash over the poor and middle class.  Even the Fed has demurred with:  "It all depends...."

tgolden82

Winter is coming......

Appleish

GeorgeBMac said:

Oh boy!

In addition to the virus getting stronger each day -- plus the expected infection surge from reopening schools, Unemployment assistance is going away and Evictions are now allowed.   

Then add on top of that all those who have postponed their credit card payments, let their balances build and will soon have enormous balances to pay on  -- while for many, their jobs may be permanently gone.

We have built a giant sinkhole that could suck us all down into the depths.

On the flip side:   I made enough in the stock & bond markets from the virus to buy myself a new car -- and I'm just a small fry.  The billionaires are making more billions...  

The social inequalities will become far worse than the sad state that they've been in:  the rich will be getting even richer while the poor even poorer -- often without jobs, food to eat or a roof over their heads -- along with a mountain of unpaid bills.

The next president will have a mountain of problems that could make 2008 look like child's play.

...  We will see.   The economists (at least publicly) aren't even talking the coming tsunami that could wash over the poor and middle class.  Even the Fed has demurred with:  "It all depends...."

I've been glad to defer payments and invest the cash, but I know a lot of people who are on the edge of disaster. Hopefully Putin will no longer be pulling the strings after January.

mike1

Appleish said:

GeorgeBMac said:

Oh boy!

In addition to the virus getting stronger each day -- plus the expected infection surge from reopening schools, Unemployment assistance is going away and Evictions are now allowed.   

Then add on top of that all those who have postponed their credit card payments, let their balances build and will soon have enormous balances to pay on  -- while for many, their jobs may be permanently gone.

We have built a giant sinkhole that could suck us all down into the depths.

On the flip side:   I made enough in the stock & bond markets from the virus to buy myself a new car -- and I'm just a small fry.  The billionaires are making more billions...  

The social inequalities will become far worse than the sad state that they've been in:  the rich will be getting even richer while the poor even poorer -- often without jobs, food to eat or a roof over their heads -- along with a mountain of unpaid bills.

The next president will have a mountain of problems that could make 2008 look like child's play.

...  We will see.   The economists (at least publicly) aren't even talking the coming tsunami that could wash over the poor and middle class.  Even the Fed has demurred with:  "It all depends...."

I've been glad to defer payments and invest the cash, but I know a lot of people who are on the edge of disaster. Hopefully Putin will no longer be pulling the strings after January.

I think that deferring payments if you don't need to, even if they let you, is wrong. It is a good program that gives a break to those who need it most. It simply feels wrong for me take advantage when I am fortunate enough not to need it.

GeorgeBMac

mike1 said:

Appleish said:

GeorgeBMac said:

Oh boy!

In addition to the virus getting stronger each day -- plus the expected infection surge from reopening schools, Unemployment assistance is going away and Evictions are now allowed.   

Then add on top of that all those who have postponed their credit card payments, let their balances build and will soon have enormous balances to pay on  -- while for many, their jobs may be permanently gone.

We have built a giant sinkhole that could suck us all down into the depths.

On the flip side:   I made enough in the stock & bond markets from the virus to buy myself a new car -- and I'm just a small fry.  The billionaires are making more billions...  

The social inequalities will become far worse than the sad state that they've been in:  the rich will be getting even richer while the poor even poorer -- often without jobs, food to eat or a roof over their heads -- along with a mountain of unpaid bills.

The next president will have a mountain of problems that could make 2008 look like child's play.

...  We will see.   The economists (at least publicly) aren't even talking the coming tsunami that could wash over the poor and middle class.  Even the Fed has demurred with:  "It all depends...."

I've been glad to defer payments and invest the cash, but I know a lot of people who are on the edge of disaster. Hopefully Putin will no longer be pulling the strings after January.

I think that deferring payments if you don't need to, even if they let you, is wrong. It is a good program that gives a break to those who need it most. It simply feels wrong for me take advantage when I am fortunate enough not to need it.

I get what you mean by feeling "wrong".

But equally as important:   what would you do with what amounts to an interest free loan?
--   Cash is essentially worthless in this environment because it earns essentially nothing.   In fact, it loses money since real interest rates (interest minus inflation) are negative.

--   To spend it means you'll need to pay it back, which is like taking out a loan for a vacation.   Bad idea.

--   To invest it is like investing on margin (investing other people's money):   when you win, you win big.   when you lose, you lose big -- possible everything.

No, while I agree that it feels wrong, it also just simply doesn't sound like a good idea to me.