One Reason An Apple Card Might Be Worth It For You

In 2019, Apple released the Apple Card in the U.S., its first credit card in partnership with Goldman Sachs, which promised to make customers' lives much easier thanks to its deep integration with the Wallet app, seamless availability in Apple Pay, and a minimalist metal card. Even though Apple Card doesn't charge fees and always focuses on helping users pay less interest, it has never been as competitive as other options in the market, which offer better points per dollar spent, unique perks, and so on. However, one thing might make the Apple Card worth it for users: monthly installment financing for Apple products. With that, buying something like the MacBook Neo, or even an all-new iPad Pro with the M5 chip, is much more feasible, as customers can choose interest-free monthly payments.

According to Apple, whenever you're shopping at its physical or online store, you have the option at checkout to pay using Apple Card Monthly Installments. After that, all the information about how much you own, the installments you paid, and more, will be available in the Apple Wallet. Apple says that these monthly installments are automatically added to the Apple Card's minimum payment; in addition, all purchases on the Apple Store give customers 3% Daily Cash back up front.

Most Apple products and accessories can be paid with Apple Card Monthly Installments. For the iPhone, the company says that users must choose a carrier at checkout. The options available are AT&T, Boost Mobile, T-Mobile, and Verizon. The installments span 24 months, and users can change carriers at any time, meaning that even though they need to choose one when purchasing a new iPhone, they can always switch to a different one over the next two years.

For the iPad, Apple Watch, Apple Vision Pro, Mac, and Studio Display, Apple offers 12-month installments. The same is true for several accessories, such as Apple's iPad cover, iPhone case, Apple Pencil, Apple Vision Pro accessories, Apple Watch bands, and more.

Interestingly, if you buy Apple TV, AirPods, or Beats Flex, Apple only offers 6 months of installment plans. Still, with an Apple Card, it gets a lot easier to get your new Apple product, as you can pay monthly without interest instead of having to spend hundreds or sometimes thousands of dollars in a purchase at once.

Early this year, Apple announced that it's phasing out its partnership with Goldman Sachs and Chase will become the new issuer of Apple Card. While the transition might take up to 24 months to finish, the company says that features like 3 percent unlimited Daily Cash back on all purchases, Apple Card Family, the Savings account, and other features will remain part of the Apple Card benefits. Besides that, Mastercard will remain the payment network.

In a support page, Apple says existing Apple Card owners won't need to apply for a new card. While the company might offer a new card once the transition is completed, most of the benefits won't change. For example, the Apple Card will remain without fees, and the Apple Card Monthly installment will continue to be available for Apple products. The company also continues to commit to its privacy and security logic, meaning that customers have complete control over their data.

While the transition is still in progress, customers don't have much to do, but Apple says they should continue to use their Apple Card as always. At this moment, it's unclear whether the company might expand into other countries and regions, as Chase, unlike Goldman Sachs, has a more global presence.