The Cupertino tech giant has announced that the Apple Card Monthly Installments will not support the purchase of SIM-free iPhones in the United States. Apple Card holders will require a carrier connection with AT&T, Verizon, or T-Mobile to buy an iPhone through Apple Card Monthly Installments.
To make it easy and more convenient for Apple Card holders, the company offers Monthly Installments payment option for the purchase of new eligible Apple products.
Users can opt for the Monthly Installments payment option at the time of purchase of a new device on Apple.com, the Apple Store app, or a retail store, which splits the cost of the device into 6, 12, or 24 monthly installments, depending on the product with no interest. Users can manage their installments in the Wallet App easily.
Starting August 15, Apple Card Monthly Installments to change financing terms for iPhone and Apple Watch
Currently, users can purchase a SIM-free iPhone through Apple Card Monthly Installments and choose to “Connect to any carrier later”. The relaxation enables users to select other carriers besides AT&T, T.Mobile, and Verizon like Google Fi or Mint Mobile.
However, the option to select a carrier later or buy a SIM-free iPhone will not be available starting August 15. Apple announced the changes to financing terms on the Apple Card support website.
Starting August 15, a carrier connection with AT&T, T-Mobile, or Verizon will be required at the time you make a purchase with Apple Card Monthly Installments.
Furthermore, the company will also reduce the number of installments for Apple Watch purchased through Apple Card Monthly Installments from 24 to 12 months in August.
Starting August 15, the installment term for new Apple Watch purchases will change from 24 months to 12 months.
The tech company has not provided an official reason for the changes.
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