What you need to know
- Apple's iPhone installment plan for Apple Card goes live today.
- You can get a new iPhone with Apple Card, and pay it back over 2 years with no interest.
- Right now Apple is running a 6% cashback offer on hardware which will also work with this deal.
Apple's new iPhone installment plan for Apple Card goes live today, which means you'll be able to purchase an iPhone and pay it off over 2 years with 0% interest.
As reported by TechCrunch, the new installment program is a slightly different way to buy an iPhone on financing. Apple announced the service during its October earnings call, where one of the cool features was the fact that the installment plan would work with the 3% cashback on offer with all purchases of Apple hardware made with Apple Card.
Right now, however, Apple is running a holiday deal that gets you double that, with 6% cashback on offer between now and December 31. So right now, you can not only purchase the iPhone on a 2 year, interest-free plan, you can also get 6% cashback!
This installment plan is different in a number of ways to Apple's iPhone Upgrade Program. The emphasis of the iPhone Upgrade Program is the new iPhone, which you get every year in exchange for renewing the two-year plan. Apple's iPhone Upgrade Program also comes with AppleCare+, so your device is protected with an extended warranty, and a couple of instances of accidental damage for the cost of a small excess fee. Of course, both of these privileges are baked into the price of iUP, so whilst you might not get an upgrade or AppleCare+ with Apple Card's finance option, you aren't paying for them either.
With Apple Card's boosted holiday cashback, this December will probably be the best time to take advantage of this deal. Head on over to Apple's website (opens in new tab) for a full rundown of all the information you need to get started.
Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple.
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