Apple Planning Apple Card Financing Options for Devices Other than iPhone

Apple may be planning to introduce interest-free Apple Card payment plans for devices other than the iPhone, Apple CEO Tim Cook said during today's earnings call covering the second fiscal quarter of 2020.

apple card titanium and app
In the Q&A portion of the call, Cook was asked about the potential for deferred payments or product bundles with the ‌Apple Card‌, and he had this to say:

As you know, we launched the payment plan earlier on Apple Card for iPhone. We're working on that for other products and you'll see something on that shortly.

Apple in December introduced a 24-month interest-free ‌iPhone‌ installment plan for ‌Apple Card‌ owners. The plan lets ‌Apple Card‌ users purchase a new ‌iPhone‌ with the ‌Apple Card‌ and pay for it over a 24-month period with zero interest, while also getting 3 percent Daily Cash back for the purchase.

Monthly ‌iPhone‌ payments are bundled into ‌Apple Card‌'s Monthly Installments, with each month's installment included in the minimum payment amount. Installments are not subject to interest unless there's an outstanding balance beyond the 24-month payment grace period.

Though Cook did not divulge much information, Apple could introduce similar payment plan options for other products such as iPads and Macs, which are particularly popular right now as people work and learn from their homes.

During the pandemic, Apple has also introduced an ‌Apple Card‌ Assistance Program that allows ‌Apple Card‌ holders to skip their March and April payments without incurring interest charges for that billing cycle.

Top Rated Comments

UltimateSyn Avatar
52 months ago
Great idea! Here come the holier-than-thou anti-credit posters.
Score: 19 Votes (Like | Disagree)
AppleTO Avatar
52 months ago
Sounds good. How about bringing it to other countries as well?
Score: 15 Votes (Like | Disagree)
moabal Avatar
52 months ago
Yes!! This is fantastic. I know some people are against credit. However, if you are responsible this makes complete sense. Seems like a natural extension to what Apple is already doing for iPhones.

Question, I know that the installment payments are added to the minimum payment. Is it possible to pay that installment payment with the full monthly statement balance at the same time? Not sure if anyone has experience with this.
Score: 11 Votes (Like | Disagree)
adampk17 Avatar
52 months ago
How about cards for spouses, Apple.....please?
Score: 11 Votes (Like | Disagree)
vipergts2207 Avatar
52 months ago

Great idea! Here come the holier-than-thou anti-credit posters.
Hey, credit cards are great if you don't pay interest and rack up the points.
Score: 10 Votes (Like | Disagree)
newyorksole Avatar
52 months ago
Very good idea. It’s really a win win for Apple to do this. No interest for 24 months AND you get cashback? Hard to pass up if you’re the type to finance things.
Score: 8 Votes (Like | Disagree)

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