Apple Card Monthly Installments: How the Interest-Free iPhone Financing Plan Works

by

Apple Card has a new Monthly Installments financing option that allows customers to purchase an iPhone with the Apple Card and pay for it over two years with no interest or fees in the United States.

Apple has shared a new support document explaining how the monthly installment plan works, which we've detailed below.

apple card monthly installments 1
When using Monthly Installments, the cost of your new iPhone is divided into 24, interest-free monthly installments. Each installment is included in your Apple Card minimum payment and is due every month for 24 months. Monthly Installments are billed to your Apple Card statement on the last day of the month.

You can use Apple Card Monthly Installments to buy more than one iPhone. The number of iPhones you can buy is only limited by your available credit.

For each iPhone purchased with the Apple Card, you will receive 3% Daily Cash. If the iPhone is purchased between December 10 and December 31, it is eligible for a doubled 6% Daily Cash as part of a holiday promotion.

AppleCare+ can be bundled with the iPhone as part of the monthly installments.

How to View and Pay Apple Card Monthly Installments

Paying for an Apple Card Monthly Installment is as simple as paying off your minimum payment or higher each month.

To see and manage your Apple Card Monthly Installments, update to iOS 13.2 or later. Then, open the Wallet app, tap on your Apple Card, tap the button with three-dots in the top-right corner, and tap Installments.

apple card monthly installments iphone 2
The installments screen shows the total amount paid off so far, the remaining balance, the due date and amount of your next monthly installment, and a history of your monthly payments. There is also a Pay Early option that can reduce the number of payments, but this requires paying off your entire Apple Card balance first.

If you tap Total Financed, you can review other details like a description of the iPhone you purchased and how much Daily Cash you received.

As a shortcut, when you purchase an iPhone with Apple Card Monthly Installments, you will receive a notification on the iPhone or iPad you use to manage your Apple Card that can be tapped to view installment details.

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

Apple already offered interest-free 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.

Tag: Apple Card Guide

Popular Stories

streaming black friday 2025

Black Friday Streaming Deals Include Big Savings on Disney+, Hulu, Apple TV, and More

Monday November 24, 2025 8:03 am PST by
We've been focusing on deals on physical products over the past few weeks, but Black Friday is also a great time of year to purchase a streaming membership. Some of the biggest services have great discounts for new and select returning members this week, including Disney+, Hulu, Paramount+, Peacock, and more. Note: MacRumors is an affiliate partner with some of these vendors. When you click a...
Read Full Article • 27 comments
iOS 26 on Three iPhones

iOS 27 Will Reportedly Have Two Key Upgrades

Sunday November 23, 2025 8:48 am PST by
iOS 27 will reportedly have two major elements: quality improvements and new AI features. In his Power On newsletter today, Bloomberg's Mark Gurman said that iOS 27 will be similar to Mac OS X Snow Leopard, in the sense that Apple is focused on improving "quality and underlying performance" over adding new features. Gurman said there is one exception to this rule, though, as he expects...
Read Full Article • 176 comments
iOS 26

iOS 26.2 Adds These New Features to Your iPhone

Thursday November 20, 2025 10:50 am PST by
iOS 26.2 is currently in beta testing. The upcoming update includes a handful of new features and changes on the iPhone, including a new Liquid Glass slider for the Lock Screen's clock, offline lyrics for Apple Music, and more. In a recent press release, Apple confirmed that iOS 26.2 will be released to all users in December, but it did not provide a specific release date. Keep reading...
Read Full Article • 27 comments
General Black Friday Deals 25 Red

Apple Black Friday Deals Available Now on AirPods, iPads, Accessories, and More

Friday November 21, 2025 8:48 am PST by
We're only a few days away from Black Friday, which will take place on Friday, November 28 in 2025. As always, this will be the best time of the year to shop for great deals, including popular Apple products like AirPods, iPad, Apple Watch, and more. In this article, the majority of the discounts will be found on Amazon. Note: MacRumors is an affiliate partner with some of these vendors. When...
Read Full Article • 4 comments
maxresdefault

The MacRumors Show: iPhone 18 Pro Looks Like a Huge Upgrade

Friday November 21, 2025 9:10 am PST by
On this week's episode of The MacRumors Show, we talk through all of the new features and improvements expected to come to next year's iPhone 18 Pro and iPhone 18 Pro Max models. Subscribe to The MacRumors Show YouTube channel for more videos Apple's next-generation iPhones are less than ten months away and we already have a good idea about what to expect based on corroborated leaks, rumors,...
Read Full Article • 49 comments
Apple Foldable Thumb

Foldable iPhone to Debut These Three Breakthrough Features

Tuesday November 25, 2025 7:09 am PST by
Apple's first foldable iPhone is expected to launch alongside the iPhone 18 Pro models in fall 2026, and it's shaping up to include three standout features that could set it apart from the competition. The book-style foldable will reportedly feature an industry-first 24-megapixel under-display camera built into the inner display, according to a recent JP Morgan equity research report. That...
Read Full Article • 118 comments
apple news banner

Apple News Loses CNN

Monday November 24, 2025 7:56 am PST by
American multinational news company CNN has abruptly pulled its content from Apple News, Semafor reports. CNN quietly removed its stories from Apple News over the weekend and there is no longer a feed from the network to subscribe to in the app. This effectively ends its distribution agreement with Apple while the two sides negotiate new terms. Discussions are apparently ongoing and CNN's...
Read Full Article • 135 comments
amazon black friday

Amazon Kicks Off Black Friday Sale With Major Discounts on Apple Accessories, TVs, and More

Sunday November 23, 2025 7:12 am PST by
Black Friday deals have begun, and Amazon is one of the best places you can find steep discounts on numerous products this week. We've already collected all of the best Apple-related deals you'll find at Amazon (and other retailers) in our Apple Black Friday Deals post, so below you'll find other discounts on devices like Anker accessories, Beats headphones, video games, TVs, and more. Note:...
Read Full Article • 2 comments
Apple Shopping Event 2025

Apple Announces 2025 Black Friday Event, Here's What You Can Get

Thursday November 20, 2025 6:28 am PST by
Apple's annual four-day Black Friday through Cyber Monday shopping event is returning on Friday, November 28 through Monday, December 1 in many countries, including the United States, Canada, Australia, New Zealand, France, Germany, Italy, Spain, the United Kingdom, Belgium, the Netherlands, Sweden, Thailand, and others. During the shopping event, customers can get an Apple gift card with...
Read Full Article • 41 comments

Top Rated Comments

26139 Avatar
26139
78 months ago

The information does not provide clarity for people who pay off their balance in full each month but just want to pay the minimum required for the phone itself.

Anyone have information on this? It seems like a lot of manual work in this case.

The information does not provide clarity for people who pay off their balance in full each month but just want to pay the minimum required for the phone itself.

Anyone have information on this? It seems like a lot of manual work in this case.
"When using Monthly Installments, the cost of your new iPhone is divided into 24, interest-free monthly installments. Each installment is included in your Apple Card minimum payment and is due every month for 24 months. Monthly Installments are billed to your Apple Card statement on the last day of the month."


Quite a sad state of a affairs when people are financing their iPhone purchase. Maybe I come from a different mentality, but how I look at it is, either you can afford it, or you cannot. The only exceptions to this rule for me is when it comes to acquiring a new property or vehicle.
ok boomer.

If it's interest free, what's the difference in paying it off monthly versus all at once?
Score: 5 Votes (Like | Disagree)
The_Grifter Avatar
The_Grifter
78 months ago

Quite a sad state of a affairs when people are financing their iPhone purchase. Maybe I come from a different mentality, but how I look at it is, either you can afford it, or you cannot. The only exceptions to this rule for me is when it comes to acquiring a new property or vehicle.
This isn't financing, though - not really. True, you're on the hook for the amount of the device, but with no interest charges or fees, it's not the same as traditional financing. It's a loan that doesn't act like a loan. And with the 3% back on it, you're actually making money buying the phone this way as opposed to buying it outright.
Score: 4 Votes (Like | Disagree)
moabal Avatar
moabal
78 months ago
The information does not provide clarity for people who pay off their balance in full each month but just want to pay the minimum required for the phone itself.

Anyone have information on this? It seems like a lot of manual work in this case.
Score: 3 Votes (Like | Disagree)
826317 Avatar
826317
78 months ago
Quite a sad state of a affairs when people are financing their iPhone purchase. Maybe I come from a different mentality, but how I look at it is, either you can afford it, or you cannot. The only exceptions to this rule for me is when it comes to acquiring a new property or vehicle.
Score: 3 Votes (Like | Disagree)
moabal Avatar
moabal
78 months ago

Anybody know if you can put the Sim free Unlocked iPhone on this plan?
It says "One Time" payment but then the link sends you to how you can make payments, soooo?
It does not look like that is the case. I thought this monthly installment was for people who do not have the option through the carrier. When I try to order a phone via ATT it is an option. However, for unlocked it’s not an option.

Pretty lame.
Score: 2 Votes (Like | Disagree)
jonblatho Avatar
jonblatho
78 months ago

ok boomer.

If it's interest free, what's the difference in paying it off monthly versus all at once?
Well, then they wouldn’t have anything to moralize The Youths over.

Apparently an easier/more realistic way of paying for expensive things depending on someone’s financial situation is yet another symptom of…something? I don’t know what, but it’s something bad. Revolving credit is bad and wrong.
Score: 2 Votes (Like | Disagree)
Read All Comments