Apple will reportedly offer Apple Card users monthly payment plans for iPad, Mac

Apple already offers installment payment plan for iPhones, with cashback included. Now, the company supposedly plans to expand this offering to iPad, Mac, or other Apple accessory purchases. The payments will be managed through the iPhone Wallet app's Apple Card section, and, as with other credit cards, it'll be added to your monthly Apple Card bills.

The company will reportedly offer a 12-month, interest-free plan for the iPad, Mac, Apple Pencil, iPad keyboard, and Mac XDR Display monitor, or a six-month, interest-free option for AirPods, HomePod, and Apple TV. Apple hasn't confirmed the news, but we'll be monitoring the story for any updates.

Source: Bloomberg, Via: The Verge

Apple Card users can still defer June payments without interest if they're affected by COVID-19

Apple is extending its COVID-19 Customer Assistance Program for the Apple Card by another month. For customers who are enrolled in the program, they can defer their June payments without incurring any interest. This the third month that Apple and Goldman Sachs have allowed deferrals because of the COVID-19 pandemic. In an email sent to Apple Card users, the company said, "we understand that the COVID-19 situation poses unique challenges for everyone and some customers may have difficulty making their monthly payments."

You need to be enrolled in the program to avail of this deferral, as well as still being negatively impacted by the pandemic. You can get more information about how to be part of the program through this link.

Source: 9to5Mac

Apple Card members can skip April payments

In order to comisserate with customers in these uncertain times,  Apple Card members  have the option of skipping their April payments. The company introduced its Customer Assistance Program last month to help customers who are currently facing financial difficulties. The Assistance Program allowed users to skip payments in March with no penalties, it is offering the same for April according to Bloomberg.

“We understand that the Covid-19 situation poses unique challenges for everyone and some customers may have difficulty making their monthly payments,” Apple said in an email to Apple Card owners. “If you previously enrolled in the Customer Assistance Program in March, you will need to enroll again.”

Apple gets into credit cards

In the world of post-iPhone revenue, Apple has to think about how it can keep its revenue stream going—both from new and old customers. How do you make them stay? One new approach they’re doing is by launching a new branded credit card, aptly called Apple Card. It’s both a digital card that lives in your Apple Pay app and a physical titanium and laser-etched card, which can be used in stores where Apple Pay isn’t available. The tech company is backed by Mastercard and Goldman Sachs to bring this card to life. Apple is saying it’s a simpler credit card without fees and rewards for its customers who use Apple Pay. But of course, there’s more to that we’re sure we’ll hear more about in the coming months. And yes, while there are no penalties for missed payments, you will accumulate interest on top of your existing balance.

While Apple believes users will opt for the digital version of Apple Card, the physical one is unique in the sense that there are no other markings outside of the user’s name. Apple’s reasoning is if the card gets stolen, there is no way for the thief to use it. The card number is unique for each device and it’s stored in the iPhone security chip, Security Element. You’ll get a dynamic security code every time you make a purchase and you will need to authenticate this biometrically. Apple promises that they don’t track what you’ve bought with that information stored in the device and not on the cloud. The Apple Card is coming to the US first. There isn’t any word yet if it’ll be crossing the border. But we’re assuming Apple wants to see how it pans out at home first.

Source: The Verge + CNBC + CNET