How to buy new Apple devices on interest-free monthly payment plans - MrLiambi's blog


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Tuesday, 21 June 2022

How to buy new Apple devices on interest-free monthly payment plans

Apple offers interest-free monthly payments for iPhone, iPad, AirPods, or Mac purchases made with an Apple Card, for those in the US. There are other options in other countries, such as an interest-free loan with Barclays in the UK, which also allows you to spread the cost of an Apple product over a certain number of months.

We're focusing on the Apple Card financing option here though, giving you a run down of the monthly installment plan below to help you work out if it's right for you.

How to finance your Apple device

Apple's "Monthly Installments" financing option divides the cost of your new iPhone, iPad, AirPods, or Mac into six, 12, or 24 interest-free monthly payments.

You can use Apple Card to buy more than one item, although the amount you can buy is limited by your available credit.

To make a purchase with Apple Card Monthly Installments:

Apple Card Monthly Installments are available for purchases made at Apple Stores,, and through the Apple Store app. Simply select the option to use your Apple Card as the payment option during checkout.

To see and manage your Apple Card Monthly Installments:

  1. Ensure you're running the latest version of iOS on your iPhone.
  2. Open the Wallet app.
  3. Select your Apple Card.
  4. Tap the button with three dots in the top-right corner.
  5. Select Installments to see your monthly installments summary.

The installments screen shows you the remaining balance, your due date, the amount of your next monthly installment, and a history of your monthly payments. There is also a Pay Early option, but you'll need to pay off your entire Apple Card balance first to use this feature. If you select Total Financed, you can review information like how much Daily Cash you received.

To learn more about how Apple Card works, including how to get started and find out your credit line, go here.

Which devices can you finance?

You can get financing for up to 24 months, depending on the Apple device.

  • New iPhone: 24 months
  • New MacBook or iMac: 12 months
  • New iPad or iPad Pro: 12 months
  • New AirPods or AirPods Pro: Six months
  • New HomePod: Six months
  • New Apple TV: Six months

Are there any fees or interest?

Apple said there are no hidden fees or interest included in your bill.

When will you be billed every month?

You'll see your monthly installments billed to your Apple Card statement on the last day of the month, every month. AppleCare+ can be bundled with your device as part of the monthly installments. Either way, you'll see the total amount added to your minimum due every month.

Are there any rewards for financing?

For every purchase with the Apple Card, you receive 3 per cent Daily Cash back.

Is this different from Apple's upgrade program?

Apple offers interest-free financing through its iPhone Upgrade Program, but with the Apple Card plan, you get a few additional perks, including cash back, the ability to manage payments in the Wallet app, and no late fees.

Apple also offers Apple Card users the option to trade in current Apple devices when attempting to finance. If their trade-in is accepted, they'll be eligible to pay less per month.

Who can use Apple Card Monthly Installments?

Financing is available to new and existing Apple Card customers in the US.

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