Apple’s iPhones do not come cheap which is why buying it through a carrier on an installment plan can be rather appealing. However, if you’d rather not be tied to a carrier, Apple might have an alternative solution for you. During Apple’s earnings call, the company’s CEO Tim Cook announced that soon, Apple Card owners will be able to buy an iPhone via an installment plan.
This will be repaid over the course of 24-months where each month’s payments will be charged directly to the Apple Card. There will be zero interest on these installments which means that ultimately, you pay the same amount instead of paying more. The best part is that because you are using the Apple Card, you will also be able to get a 3% cash back on the purchase, so you might actually benefit from this.
That being said, there is no word on when this new program will be launched. Cook mentioned that it should be launching later this year so if you had your eye on the new iPhone, then you might want to wait until this program launches if you’re trying to better manage your finances. It should also be arriving in time for the holiday season which means that you’ll be able to buy the iPhone for someone as a gift, or maybe even a gift for yourself.