Apple Card Monthly Installments: How the interest-free iPhone financing plan works

Apple's flagship iPhone 11 Pro Max 512GB Midnight Green model retails for $1,449.
Apple’s current flagship, the iPhone 11 Pro Max 512GB in Midnight Green

Apple Card Monthly Installments are the new, easy way to buy an iPhone and pay over time, with interest-free, low monthly payments.

Joe Rossignol for MacRumors:

Apple Card has a new Monthly Installments financing option that allows customers to purchase an iPhone with the Apple Card and pay for it over two years with no interest or fees in the United States.

When using Monthly Installments, the cost of your new iPhone is divided into 24, interest-free monthly installments. Each installment is included in your Apple Card minimum payment and is due every month for 24 months. Monthly Installments are billed to your Apple Card statement on the last day of the month.

You can use Apple Card Monthly Installments to buy more than one iPhone. The number of iPhones you can buy is only limited by your available credit.

For each iPhone purchased with the Apple Card, you will receive 3% Daily Cash. If the iPhone is purchased between December 10 and December 31, it is eligible for a doubled 6% Daily Cash as part of a holiday promotion.

AppleCare+ can be bundled with the iPhone as part of the monthly installments.

MacDailyNews Note: For more info, check out Apple’s support document: How to view and pay Apple Card Monthly Installments.

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