Apple expands Apple Card's interest-free financing to iPad, Mac, AirPods & more

Sarah Perez

Last year, Apple introduced interest-free financing for new iPhone purchases when you pay with an Apple Card. Today, it's expanding interest-free Apple Card monthly installments to a range of Apple products, including Mac and iPad, Apple TV, HomePod and AirPods, plus select accessories and related products. However, the financing options available will vary by product and device -- and none offer a term as long as the 24-month interest-free option that's offered for iPhone purchases made using Apple Card.

Instead, Apple says that Apple TV, HomePod and AirPods can be financed over six months with no interest.

Meanwhile, other products like Mac, iPad and related products and accessories can be paid for over 12 months without interest.

This latter group includes Mac and related products and accessories like the Pro Display XDR, Pro Stand, VESA Mount Adapter Kit for iMac Pro, Apple Afterburner Card and Leather Sleeves for MacBook Air and MacBook Pro.

Meanwhile, in addition to the iPad, you can also finance iPad accessories like the Magic Keyboard for iPad Pro, Apple Pencil, Smart Keyboard Folio for iPad Pro, Smart Keyboard for iPad and iPad Air, Smart Folios, and Covers for iPad Pro and iPad.

All Apple products purchased with Apple Card will also receive the 3% cash back in the form of Apple Card's Daily Cash, as before. This cash can be used with Apple Pay, sent to family and friends via iMessage or put toward your Apple Card bill.

Apple had already offered interest-free financing for its iPhone through the iPhone Upgrade Program before its launch of Apple Card interest-free financing last year. But the earlier program required a 24-month installment loan from Citizens One and could still include other fees — like those on late payments, for example. Apple Card's financing program for iPhone and now this wider range of Apple devices promises zero fees in addition to the interest-free financing and cash back, which ultimately makes it a better deal for customers.

The expansion also brings Apple closer to what some hope will be the company's end goal: offering Apple devices and optional add-on services, like Apple Music or Apple TV+, as a packaged subscription. On that front, Apple has been said to be considering an Apple services bundle, with music, news and TV, but its music licensing deals may derail those plans and would make a full bundle of devices and services difficult to launch. In the meantime, being able to finance other Apple devices, interest-free, is a good first step.

Apple's iPhone sales have largely held steady so far in the face of the coronavirus pandemic, but the full economic impacts on Apple's hardware business related to the crisis may have yet to be seen. The new interest-free financing offer is an acknowledgment that, for some customers, access to Apple's devices may have gotten out of reach.

Bloomberg had previously reported on Apple's plans to expand its monthly installment program.

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