Apple Card is a credit card launched in 2019 by Apple and is issued by Goldman Sachs and Mastercard is providing them with a global payments network. It was designed primarily to be used with Apple Pay on Apple devices. In an attempt to get more users to sign-up for an Apple Card and also boost sales for Apple products, the company is planning to introduce a new feature.
According to Bloomberg, Apple Card users will be able to split the cost of Apple products over several months, with no extra fees, similar to the 24-month, interest-free iPhone installment plan that was launched in December.
The same source says a 12-month interest-free plan will apply to iPads and their keyboards, Macs and the XDR Display monitor, and the Apple Pencil. AirPods, Apple TVs, and HomePods, on the other hand, could be purchased in a six-month interest-free plan.
Installment payments will be managed through the Wallet app’s Apple Card section, and any charges will be included in the monthly bill for the Apple Card. Also, the education discounts Apple offers may be applied to the service.
Apple users can apply for an Apple Card through the Wallet app, and once approved it can be used straight away wherever Apple Pay is accepted. A physical titanium card is also sent to successful applicants that can be used everywhere. Apple Cardholders get a 3% cashback with security and privacy features that are tied to the user’s iPhone.