Apple Card's 24-Month Interest-Free iPhone Installment Plan Available Starting Today

Apple Card's interest-free monthly installment plan for the iPhone is launching in the United States today, as noted by TechCrunch.

iphone apple card monthly installments
The plan allows customers to purchase a new ‌iPhone‌ with ‌the Apple Card‌ and pay for it over 24 months with no interest. Customers will continue to get 3% Daily Cash back for the iPhone purchase as well, or an increased 6% Daily Cash until December 31 as part of a holiday promotion announced today.

When paying for an iPhone with Apple Card Monthly Installments, each month's installment is included in your minimum payment amount. And unlike other purchases with the Apple Card, the installments are not subject to interest unless there is an outstanding balance beyond the 24-month grace period.

Apple Card Monthly Installments are available for purchases made at Apple Stores, Apple.com, and through the Apple Store app.

Apple already offered iPhone financing through its iPhone Upgrade Program, but the Apple Card plan has a few advantages, including cash back, managing payments in the Wallet app, and no late fees.

Apple has shared more details in a support document.

Top Rated Comments

CheesePuff Avatar
15 months ago


This is pretty dumb. There’s no diff between the myriad of options that were already available. You get cash back w iUP if you use Apple Card already.
Was really hoping this option would have been available for unlocked & SIM-free: now THAT would have been great. Alas, still no real way to get financing on that option (beside Barclay).

This does support unlocked


I am still confused on one thing. If you are someone who automatically has the full balance paid monthly on the due date, will the full balance of the phone be included in that amount or only the monthly installment?

They're kept separate, and the balance of the phone does not affect your overall card balance
Score: 6 Votes (Like | Disagree)
terryzx Avatar
15 months ago


I could buy one with my barclay but have to pay interest. They won't give me an Apple Card because I have a barclay.

I have both cards so that must not be your reason
Score: 4 Votes (Like | Disagree)
ACE83 Avatar
15 months ago
I am still confused on one thing. If you are someone who automatically has the full balance paid monthly on the due date, will the full balance of the phone be included in that amount or only the monthly installment?
Score: 3 Votes (Like | Disagree)
seatton Avatar
15 months ago
Great. I can let my sugar daddy know!
Score: 3 Votes (Like | Disagree)
siger10k Avatar
15 months ago
If you need 24 months to pay off an iPhone, perhaps you should be buying a used iPhone 7 or 8 off of Swapa instead of getting the latest and greatest. 'Murica!

Score: 2 Votes (Like | Disagree)
neuropsychguy Avatar
15 months ago


If you need 24 months to pay off an iPhone, perhaps you should be buying a used iPhone 7 or 8 off of Swapa instead of getting the latest and greatest. 'Murica!

Or, you take time to pay it off because it's an interest-free loan. The money you spend on the phone can sit in an account getting a little interest (or gaining more value if it's in a mutual fund or ETF or CD or whatever you think will safely gain value).
Score: 2 Votes (Like | Disagree)

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