Apple will add 0% interest Apple Card payment plans for iPad, Mac, AirPods and more

Apple to launch new monthly Apple Card payment plans, similar to the ones it introduced late 2019 for iPhone. In the last quarterly earnings call, Apple CEO Tim Cook teased that the program would soon be extended to other products.

According to Bloomberg, the new financing will allow customers to purchase products such as iPad, Mac, Apple Pencil, Pro Display XDR on their Apple Card in monthly installments, over 12 months at 0% interest. Apple will offer six-month interest-free plans for cheaper products like Apple TV, AirPods, and HomePod. That’s less than the 24 months of free financing the Apple Card offers for iPhone purchases.

Just like the iPhone program, the purchase is added to the transaction history of the Apple card. After the 0% interest period of 6 or 12 months has passed, the balance is added to the card and paid according to the standard interest rate of the user’s Apple card.

As funding requires an Apple Card, this naturally means that supply will be limited in the United States for the foreseeable future. Goldman Sachs has said it is interested in bringing Apple Card to more geographic markets, but nothing looks imminent at this time.

Apple has added monthly 0% financing payment plans to the iPhone as part of its strategy to improve iPhone sales; easier access to cheap financing means more people can afford to buy Apple products. The same logic also extends to other Apple hardware. Likewise, the plans may also increase adoptions of the Apple Card itself, which Apple makes money in the long run.

In the past, Apple has run 0% finance promotions in partnership with third parties like Barclaycard. But now that he has his own credit card, he’s gradually shifting all promotions to be Apple Card-based in the United States.

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