Tim Cook, Apple CEO has announced that the Apple Card will have a new feature that allows users to get brand-new iPhones and pay for it over the course of 24 months with zero interest.
During the Q4 2019 earnings call, Cook mentioned that the iPhone installment plans should become available to Apple Card users this year. Though there’s no specific date mentioned, we’ll just have to assume that it will roll out in the holiday season.
The iPhone purchase will still get the 3 percent cashback as per the promotion that Apple products get higher-tier rewards.
Reception for the Apple Card is largely well-received, with the Goldman Sachs CEO David Solomon claiming that it was their ‘most successful’ card launch yet. Cook says that Apple is thrilled with the results and how it’s quickly gaining popularity in the U.S.
Apple Card is currently available only in the US, with plans to launch to Europe, Canada and other parts of the globe.