Apple Monthly Payments Explained

Apple's monthly payment option allows you to purchase an iPhone or other Apple device with no interest or fees for 24 months.

You can choose from three payment options: 0% APR for 24 months, 10% APR for 24 months, or 14.99% APR for 24 months.

This means you can spread the cost of your new device over two years, making it more affordable and manageable.

The 0% APR option is available for purchases over $500, and you'll need to pay off the full amount within the 24-month period to avoid interest charges.

If you want to pay extra on your Apple Card Monthly Installments, you need to pay your entire Apple Card balance first, then choose Pay Early to make an additional payment towards your installment balance.

To make a payment, you can use the Wallet app on your iPhone. Tap Apple Card, then tap the More button and select Monthly Installments. If you have multiple installments, you'll see the balance for all of them.

You can choose to pay early on any of your installment plans, but your extra payment will be applied to the outstanding balance of your oldest installment plan.

If you don't pay a monthly installment, you won't be charged a fee or interest. However, to keep your Apple Card account in good standing, it's essential to pay your monthly installments on time as part of your Apple Card minimum payment due every month.

To pay early, follow these steps: Open the Wallet app and tap Apple Card.Tap the More button, then tap Monthly Installments.Tap Pay Early, then tap Continue.Choose an amount to pay, then tap Pay Now or Pay Later and follow the instructions on your screen.

You can use Apple Card Monthly Installments to buy more than one device, and each new device will have its own installment plan. The amount you finance for each device is subtracted from your available Apple Card credit.

To view your Apple Card Monthly Installment payment history, you can follow these simple steps. Open the Wallet app on your iPhone and tap Apple Card.

Tap the More button, then tap Monthly Installments. This will bring up a list of your monthly installment payments.

If you have multiple Apple Card Monthly Installments, tap the device you want to view monthly installments for. This will allow you to see the payment history for that specific device.

To access your payment history, you don't need to sign in or authenticate, making it quick and easy to review your payments.

You can buy a new iPhone, iPad, Mac, Apple Vision Pro, or other eligible Apple products with Apple Card Monthly Installments, which are interest-free and low monthly payments.

The total amount you finance increases if you buy an AppleCare+ plan, but decreases by the amount you get for your old device if you use Apple's Trade In program.

Each installment is included in your Apple Card minimum payment and is due every month for the duration of the installment plan, which varies by device.

For example, iPhones and Apple Watches can be purchased over a 24-month period, while Macs and iPads can be paid over 12 months, and AirPods and Apple TV can be split over six months.

You can pay extra on your Apple Card Monthly Installments, but you need to first pay your entire Apple Card balance, then choose Pay Early to make an additional payment towards your installment balance.

To pay extra, open the Wallet app, tap Apple Card, then tap the More button and tap Monthly Installments; choose Pay Early, then tap Continue and follow the instructions on your screen.

Apple Card Monthly Installments are billed to your Apple Card statement on the last day of the month, and your first monthly installment is billed at the end of the same month that your device ships or you pick it up at the Apple Store.

Here's a breakdown of the installment periods for different Apple products:

The amount you finance for each device is subtracted from your available Apple Card credit, and the number of devices you can buy with Apple Card Monthly Installments is only limited by your available credit.

Apple has partnered with third-party providers to offer Buy Now, Pay Later (BNPL) services in the US, allowing users to redeem rewards using Discover credit cards and apply for loans through Affirm.

Monzo Bank is the first UK bank to enable its Flex customers to choose monthly payment options when making online purchases with Apple Pay.

ANZ in Australia, HSBC in the UK, CaixaBank in Spain, and Citi Synchrony, along with issuers partnered with Fiserv in the US, are preparing to roll out similar services.

Customers using iOS 18 and iPadOS 18 can now choose to pay in full or spread the cost over multiple months directly at the point of purchase with Apple Pay.

This new feature gives Monzo Flex customers greater flexibility and control over their spending, enhancing the convenience of using Apple Pay for online and in-app purchases.