Snippet: Apple Card Monthly Installments ☇

Shared on December 12, 2019

Apple has a new option for buying an iPhone with the Apple Card, where the purchase price is split into 24 interest-free payments, treated separate from your general purchases:

Apple Card Monthly Installments are the new, easy way to buy an iPhone and pay over time, with interest-free, low monthly payments. And you get 3% Daily Cash all up front when your iPhone ships or when you buy a new iPhone at an Apple store.

You can use Apple Card Monthly Installments to buy more than one iPhone. Each new iPhone you buy has its own Apple Card Monthly Installments plan. The amount you finance for each iPhone is subtracted from your available Apple Card credit. The number of devices you can buy with Apple Card Monthly Installments is only limited by your available credit.

It’s a great idea as it may allow people to upgrade and not take the hit immediately (there are pros and cons to both), and avoids financing through a carrier. However, the fine print on the main marketing page states:

Available to qualified customers and requires 0% APR, 24-month installment loan with Citizens One or Apple Card Monthly Installments and iPhone activation with AT&T, Sprint, T-Mobile, or Verizon.

Like the iPhone Upgrade Program, it appears that you have to have postpaid service with one of the big four carriers to be eligible, which seems somewhat counterintuitive. Offer this purchasing option for the SIM-free version, you cowards!

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