New Apple Card installment plans could make buying Apple gadgets easier
Apple already offers an installment payment plan for the iPhone, but it could extend similar plans to all kinds of other Apple hardware in the near future – as long as you make your purchases through the Apple Card.
According to sources speaking to Bloomberg, the plans would be interest-free, giving you more time to pay off your latest Apple gadget purchases without penalizing you with interest repayments along the way.
Apparently the plan is to give customers 12 months to pay on more expensive items like Macs and iPads, while cheaper gadgets such as AirPods and the HomePod would be paid off over six months.
None of this is official until it's confirmed by Apple of course, but it seems a smart move – not only would it give people more flexibility when it comes to buying Apple hardware, it would also be likely to generate more interest in the Apple Card.
The details obtained by Bloomberg suggest the scheme could be unveiled within the next few weeks, with payments made through the Wallet app. We might get an announcement at the virtual WWDC 2020 event happening on June 22.
It shouldn't take Apple too long to implement the new plans either – customers can already buy an iPhone over 24 months, interest-free, using an Apple Card. For now though, that deal is only available in the US.
Apple hasn't commented officially on the rumors, as you would expect, though CEO Tim Cook has previously hinted that more installment plans could be introduced in the future.
As well as being a way to drive up sales of Apple goods and Apple finance plans, the various payment options might help gadget buyers through the current global pandemic – which continues to affect most areas of life, including the tech industry.