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Apple will soon allow customers to make purchases through payment plans on their Apple Card, similar to a program that already exists for the iPhone.
During Apple’s second quarter earnings call on Thursday, the CEO Tim Cook announced that customers will soon be able to make product purchases using a payment plan on their Apple Card. This advantage already exists for iPhone and, according to Cook, should expand to other devices in Apple’s lineup.
“Well, as you know, we launched the payment plan earlier on Apple Card for iPhone,” Cook said. “We’re working on doing that for other products as well and you’ll see something about that shortly.”
The Apple Card Monthly Installment Plan still lets you take advantage of the 3% cash back On Apple purchases. The 24-month installment plan is interest-free and incurs no other fees. This type of payment plan would definitely increase a customer’s ability to purchase new devices more frequently.