Apple Card owners can get iPhone in installments with zero interest

Apple rarely gives customers much of a price break on a brand new iPhone. But you can get up to 6% cash back if you buy the handset from Apple between now and the end of the year. And Apple will let you finance the phone over a 24-month period with zero interest. 

The catch: You must buy the phone from Apple Stores, on or on the Apple Store app, and use the company’s Apple Card credit card. In fact, the 6% holiday savings applies to all purchases of Apple products from the company made with the card before year-end.

Apple launched its first credit card, a Mastercard, this summer in partnership with issuer Goldman Sachs. There are no fees for foreign transactions, going over your limit, cash advances or late payments. From the outset, Apple rewarded customers with 3% cash back on Apple purchases, 2% back when you use the card with the Apple Pay payments system (on an iPhone, Apple Watch or Mac), and 1% back when you use the physical card. 

Thus, the temporary holiday promotion doubles the company’s usual cash back reward on the iPhone and other Apple products.

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Absent a trade-in and purchased outright, a new iPhone 11 bought directly from Apple starts at $699, and the iPhone 11 Pro starts at $999. So you could shave $41.99 and $59.94 off those prices, respectively, using the card under the promotion.

The interest rate on the Apple Card is broad – between 12.99% and 23.99% and based on Goldman’s determination of your creditworthiness. Those rates are more or less in line with other credit cards. 

You will need an iPhone with up-to-date iOS software to get the card. You can manage installments and track purchases on your account through the Apple Wallet app on the iPhone. 

The monthly iPhone installment is automatically added to your minimum Apple Card payment so you have just one single payment to make. 

If you have an Apple Card, there’s no additional application required. If not, you can apply from the Apple Wallet app on the phone.

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