Apple to offer Apple Card payment plans for products other than iPhone

Posted:
in General Discussion edited April 2020
Apple will soon let customers make purchases via payment plans on their Apple Card, similar to a program that already exists for the iPhone.

Apple Card offers payment plan options for new iPhones, and soon other products
Apple Card offers payment plan options for new iPhones, and soon other products


During Apple's second quarter earnings call on Thursday, CEO Tim Cook announced that customers will one day soon be able to make purchases of products using a payment plan on their Apple Card. This benefit already exists for iPhone and, according to Cook, is set to expand to other devices in Apple's lineup.

"Well, as you know, we launched the payment plan earlier on Apple Card for iPhone," Cook said. "We're working on doing that for other products as well and you'll see something on that shortly."

The initiative would expand upon other purchasing programs like trade-in and the iPhone Upgrade Program.

The Apple Card Monthly Installments program still lets you take advantage of the 3% cash back On Apple purchases. The 24-month installment plan is interest free, and incurs no other charges. This type of payment plan would certainly increase a customer's ability to buy new devices more frequently.
pslice

Comments

  • Reply 1 of 14
    B-Mc-CB-Mc-C Posts: 29member
    This will be such a great way to juice sales and drive Apple Card adoption. Add in the 6% cash back (Apple’s own COVID stimulus, per se) we saw during the holiday season last year and they may get through these difficult times unscathed.
    psliceJWSCwatto_cobra
  • Reply 2 of 14
    apple ][apple ][ Posts: 9,233member
    Wow, that's great!

    I see some additional devices in my future. Interest free, 24 months? That sounds real nice, and I'm definitely going to take advantage of that offer. It makes zero economic sense not to.

    Expanding it from just the iPhone is awesome news!
    pslicewatto_cobra
  • Reply 3 of 14
    Great news (and about time!)
    edited April 2020 pslicewatto_cobra
  • Reply 4 of 14
    macguimacgui Posts: 2,062member
    AI said:
    The Apple Card Monthly Installments program still lets you take advantage of the 3% cash back On Apple purchases. The 24-month installment plan is interest free, and incurs no other charges.

    I did not know that. I would have thought that you had to make a choice between interest free or 3% discount. That's pleasant news.

    AI said:
    This type of payment plan would certainly increase a customer's ability to buy new devices more frequently.

    Good ol' Apple looking out for us! LOL

    apple ][ said:
    I see some additional devices in my future It makes zero economic sense not to.

    This. It's time for me to consider a new laptop as well as a phone. How will Apple/G-S handle payments for buying two or three different devices at different times? Just increase the monthly payment as a new item is purchased and decrease it as each item is paid off? You could pay off one device early, if that was all you had on a plan. But it might not be possible to pay off only one if you have two or three going. I look forward to reading the rules and regs when this starts.

    pslicewatto_cobra
  • Reply 5 of 14
    Phobos7Phobos7 Posts: 55member
    I’d do it.
    pslicewatto_cobra
  • Reply 6 of 14
    Rayz2016Rayz2016 Posts: 6,957member
    macgui said:
    AI said:
    The Apple Card Monthly Installments program still lets you take advantage of the 3% cash back On Apple purchases. The 24-month installment plan is interest free, and incurs no other charges.

    I did not know that. I would have thought that you had to make a choice between interest free or 3% discount. That's pleasant news.

    AI said:
    This type of payment plan would certainly increase a customer's ability to buy new devices more frequently.

    Good ol' Apple looking out for us! LOL

    apple ][ said:
    I see some additional devices in my future It makes zero economic sense not to.

    This. It's time for me to consider a new laptop as well as a phone. How will Apple/G-S handle payments for buying two or three different devices at different times? Just increase the monthly payment as a new item is purchased and decrease it as each item is paid off? You could pay off one device early, if that was all you had on a plan. But it might not be possible to pay off only one if you have two or three going. I look forward to reading the rules and regs when this starts.

    I imagine each device payment will be a separate payment per month. 
    watto_cobra
  • Reply 7 of 14
    Rayz2016Rayz2016 Posts: 6,957member
    Will they include AppleCare?

    watto_cobra
  • Reply 8 of 14
    I was waiting for this, makes good sense.
    watto_cobra
  • Reply 9 of 14
    beowulfschmidtbeowulfschmidt Posts: 1,493member
    So I'm guessing this is just Apple removing the middle man that is Citizens One?  Or maybe substituting Goldman Sachs for the middle man?  My current iPhone Citizens One loan payment is being paid by my Apple Card, and I still get the three percent.
  • Reply 10 of 14
    hmlongcohmlongco Posts: 320member
    macgui said:
    How will Apple/G-S handle payments for buying two or three different devices at different times? Just increase the monthly payment as a new item is purchased and decrease it as each item is paid off? 
    Nope. Each device is on its own payment plan. I bought my iPhone, my wife's iPhone, and my son's iPhone all on Apple's payment plans. (Mine is actually on the upgrade program.)
    watto_cobra
  • Reply 11 of 14
    xander04xander04 Posts: 5member
    This will be great. Just need Apple to bring the Card to the UK. It’s been a long wait !

    watto_cobra
  • Reply 12 of 14
    AI_liasAI_lias Posts: 410member
    Would be nice if they extended the installments to refurbished devices.
    watto_cobra
  • Reply 13 of 14
    StrangeDaysStrangeDays Posts: 11,764member
    apple ][ said:
    Wow, that's great!

    I see some additional devices in my future. Interest free, 24 months? That sounds real nice, and I'm definitely going to take advantage of that offer. It makes zero economic sense not to.
    I made use of the Barclay financing when I bought my iMac last year. Besides interest-free, they gave me $125 in Apple iTunes/Music/iCloud gift cards, should last me quite a while. 
    edited May 2020 watto_cobra
  • Reply 14 of 14
    stevenozstevenoz Posts: 272member
    So... is Apple Card... Visa? MasterCard? Most stores I deal with only take AmEx, Visa, MC.

    Do I use it only for purchases from Apple... and those that take Apple Pay?

    edited May 2020
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