Today, Apple is launching its new zero-interest iPhone financing plan for Apple Card holders. According to the TechCrunch, the new purchase method will be rolled out across Apple retail stores today along with the Apple Store app on iOS and Apple.com. Let's dive in to see some more details on Apple's new iPhone financing plan and how it aims to be a suitable option for users.
Apple's New iPhone Financing Plan offers Zero Percent Interest for Apple Card Users for 24 Months
As mentioned earlier, Apple will roll out its new iPhone financing plan today for Apple Card users. If you're an owner of one, you can buy a new iPhone and payback with zero percent interest over the next 24 months. The new iPhone financing plan was announced at Apple's last quarterly earnings call and now it is being rolled out for users.
The new method replaces the previous Apple Store financing plan implemented through Barclays which was made redundant with the Apple Card's arrival in August. You can manage the Installment Plan through the Apple Card interface in the Wallet app on your iPhone. The zero-interest is definitely something that all users will benefit from.
As for the monthly repayments, they will be simply added to the Apple Card balance's minimum payment. This will allow users to know the amount they are due each month. In addition to this, Apple Card has also launched a 6 percent cashback as part of the holiday promotion on Apple products. The promotion is available right now and runs through December 31st.
Apart from this, the existing iPhone Upgrade Program will be offered as well for users who do not own an Apple Card. Possibly in the future, Apple will add more products to the installment plan.
There will be more to the story, so be sure to stick around. That's all for now, folks. What are your thoughts on the new iPhone Financing Plan? Sound off in the comments, we would love to hear it from you.
News Source: TechCrunch
About the author: Ali Salman is a technology reporter for Wccftech mobile section with a specialized focus on Apple and the intellectual property that drives mobile innovation. He has cultivated a unique expertise in analyzing and deconstructing complex technology patents, translating dense legal and technical documents into clear, insightful reports on future products.
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