During today's earnings call for the fourth quarter of 2019, Apple CEO Tim Cook announced a new feature that's coming to Apple Card later this year -- fee free iPhone payments.
Customers will be able to purchase a new iPhone using Apple Card and pay for it over 24 months with no interest. Customers will continue to get three percent cash back for the purchase as well.
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There's no specific word on when the iPhone payment plan will be available, but Cook did say that it's coming this year, so it could perhaps be introduced ahead of the holiday season.
Cook said that Apple has been "thrilled" with the reception to Apple Card since its August launch. He said that Apple believes it was the "most successful launch of a credit card in the United States ever."
Top Rated Comments
Not unless your Apple card came with 0% interest.Isn’t this what I’m already doing essentially? Paying the installment every month via Apple Card.
Yeah but with this new option you won’t have to deal with Citizens Bank. This also might not be the same as the iPhone Upgrade Program where you have an annual upgrade. iUP also does a hard credit check, this new option likely doesn’t need to.Isn’t this what I’m already doing essentially? Paying the installment every month via Apple Card.
What do you mean pay it off monthly? If you carry a balance, you pay interest. If you “pay it off” you’re not paying for it monthly.Interesting. I was thinking about using my Apple Card to "buy" an iPhone financed over 24 months and just pay it off monthly, this looks like the equivalent minus the middle man.
So really no different...right?
Just trying to figure out exactly what you mean. This new option means no interest. If you do it your way without this new method you’d be paying interest.