Two things to know about using your Goldman Sachs Apple Card to buy Apple merchandise using 0% installment plans People, in general, love the Apple card but here are two idiosyncrasies that come with a card offered by a company with no credit card experience”

(1) For those who use their Apple Card to buy Apple merchandise using zero interest rate installment plants — think ahead.

If you, like me, routinely use your Apple Card to buy Apple merchandise for its 3% rebate and 0% interest rate installment payment plans and you believe you can pay off a particular installment arrangement if you need to in order to transfer ownership — it’s not that simple.

For this example, imagine that you have an iPhone 12 Mini (bought on the 0% rate installment plan) that you can either trade in for a new iPhone 13 Mini (no Mini’s for the iPhone 14 line) or sell to a friend for the trade-in value. You use AT&T. Your friend uses another phone service provider. In order to sell the phone to your friend you have to pay off the two remaining payments.

Here is what the Apple Card requires that you do:
(1) First pay your last statement in full first;

(2) Pay off any charges you’ve made since your last full statement;

(3) Pay off any installment plans that were entered into before the installment plan you care about; and

(4) Only then can you pay off the installment payments for the installment plan you care about.

(2) If you turn in your trade-in during the permitted 14-day period but Not at the same time as you receive your new iPhone, the installment plan you entered into using the Apple Card is not changed when you hand over your trade-in. You receive an Apple Card credit instead. That may or may not be what you want or expect.

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