On Oct. 30, in a conference call regarding its latest financial results, CEO Tim Cook said that Apple would be implementing an Apple Card feature that will let you buy an iPhone on a no-fee, interest-free installment plan. This seems to be imminent. If you click the “Learn More” link in the Wallet app when paying your balance, you learn:
“If you are paying for your iPhone with Apple Card Monthly Installments, each month your installment is included in the minimum payment amount.
“Installments aren’t subject to interest like other purchases made with Apple Card. “If you pay more toward your installment balance, you may reduce the overall number of payments, but are still scheduled to pay your installment payment the following month. Paying the total balance will include the total amount you’ve spent with Apple Card, including your remaining iPhone balance.”
There’s no info on if you can transfer a current iPhone Upgrade Plan from Barclays, which does charge interest, to the Apple Card. Hopefully, this will be the case.
