A new offer for Apple Card holders is expected to roll out in coming weeks. As per reports, the company is preparing to offer Apple Card holders monthly installment plans to be able to purchase their products, interest-free.
According to Bloomberg, Apple will be offering a 12-month interest-free installment plan for bigger, more expensive products like iPads, Macs, the Apple Pencil, and the Mac XDR Display monitor. Other smaller items like AirPods, Apple TV and HomePod can be purchased with a 6-month, interest-free plan.
Currently, Apple Card users can buy an iPhone in 24-monthly installments, using a payment plan without interest. However, in the coming weeks, Apple will offer more of their products to be purchased under this plan.
Under the current plan offered, the purchase made with the Apple Card is managed through the Wallet App and the purchase can be made at Apple retail stores or via the Apple Store app. Since the current iPhone offer gives Apple Card holders 3% cash back, it is possible that products bought with the same offer could result in the same benefit.
Deferred payments extended due to the COVID-19 pandemic
In March, Apple and Goldman Sachs, issued a leniency policy for the card owners, which is still in effect for June 2020. This policy allows Apple Card users to skip their payments without any interest charges or penalties in the United States. With the current situation around the lockdown and curfews around the United States, users can still skip their Apple Card payments without any penalty. Apple Card users must enroll themselves in Apple’s Customer Assistance Program to avail his offer.
With the millions of dollars Apple has donated to the COVID-19 fund and all the efforts they are making to flatten the curve of transmission, this new offer is a great initiative made by Apple. So that in times of uncertainty, their customers can still buy their products in a way that is easier for them to afford.
With the premium pricing of Apple products, this offer will certainly make it easier for people to purchase them, If they get approved for the Apple Card in the first place.