topic Re: Apple Financing in Credit Cards

Apple Financing

mohammadmoghimi — Tue, 09 Sep 2014 22:28:51 GMT

Hi,

I'm a little bit confused about the apple financing barclay card. Is it a credit card? Do they give 0 apr after each purchase? Or is it just like other credit cards with a like 1 year with 0 apr?

Re: Apple Financing

taxi818 — Tue, 09 Sep 2014 22:35:10 GMT

ok. listen. people here call it the apple financing card.

But it is called the Barclays financing Visa. in fact.

It is a regular credit card.

But Imo. The easiest of the barclay cards to get. because all you need to say. is i want a Imac air. and boom. you are approved. LOL.

but seriously. . ive seen people with 620 tu fico get approved. no rewards. no points. simple finance of zero procent if you buy apple products. length of time depends how much you charge. but you can use anywhere. so no big deal. same apr no matter what your score. 26.99 percent if you carry balance and don't buy at apple. there you go in a nutshell.

Re: Apple Financing

mohammadmoghimi — Tue, 09 Sep 2014 22:40:34 GMT

Like everytime I buy apple product, I get 1-2 year payments without interest, right? or is it just when you open this card?

Re: Apple Financing

taxi818 — Tue, 09 Sep 2014 22:44:29 GMT

Ok. I will give you facts. It's on 1st purchase only. Within certain time frame. Here we go.
Special financing offer available.
New cardmembers get special financing on any purchase made at Apple within 30 days of account opening.1
No interest if paid in full within the 6, 12, 18 month periods shown below.2
6 months
on purchases less than $499
or 12 months
on purchases $499 - $1998
or 18 months
on purchases $1999 and over
Apply now Financing Monthly payment required.

Interest will be charged to your account from the transaction date at the purchase APR if the purchase balance is not paid in full by the end of the promotional period or if you make a late payment. The purchase APR will be 22.99% or 26.99% variable, based on your creditworthiness. The minimum monthly payment may not result in your Apple purchase(s) being paid in full by the financing offer expiration date. Additional payment(s) may be required to avoid deferred interest charges.

Re: Apple Financing

AvadaKedavra — Tue, 09 Sep 2014 22:45:07 GMT

@mohammadmoghimi wrote:
Like everytime I buy apple product, I get 1-2 year payments without interest, right? or is it just when you open this card?

It's just when you open the card.

Re: Apple Financing

taxi818 — Tue, 09 Sep 2014 22:47:45 GMT

1 time only. Sorry. And if you are late. Even once. Boom. All interest must be paid. Or if you don't pay all is allowed time frame. Boom. Must pay. This is card to be very afraid of. Or watch it like a hawk. And don't blink. Other wise. The interest man is coming to your door.

Re: Apple Financing

mohammadmoghimi — Tue, 09 Sep 2014 22:49:22 GMT

It sounds like a terrible card then. Like Slate from Chase is much better.

What do people do when they finish the payments? Can they change the card to some other barclay card? or just close it?

Re: Apple Financing

destine2grow — Tue, 09 Sep 2014 22:51:19 GMT

From my understanding you can get special offers on other apple products when. You purchase them later, not just in the first purchase.

Re: Apple Financing

taxi818 — Tue, 09 Sep 2014 22:53:36 GMT

Sorry. You can PC Card. But at least you will have relationship with Barclays. Maybe for that lovely 8 percent. Ring master card. Out standing that one. But I will not say this is worst card out there. Great to start relationship. Just buy small items. Like iPhone. Or iMac pro.

Re: Apple Financing

taxi818 — Tue, 09 Sep 2014 22:56:36 GMT

You can't is what I meant to say. You can't PC it. You should never close a card. Because of util and aaa. But you can wait for them to close or buy a donut once in a while. And pay in full.

Re: Apple Financing

negg — Tue, 09 Sep 2014 23:00:42 GMT

Might be one of the best BT cards out there. 1% fee, 0% apr for 15 months.

Re: Apple Financing

B335is — Tue, 09 Sep 2014 23:01:13 GMT

I'm surprised this product is still around. Why not just put the Apple product on a Bill Me Later acct?

IF I had the Apple Financing Visa or card or whatever it's called, I would close it. Simply because Barclays is one of the more difficult lenders when it comes to 2 or 3 cards and the US Airways card is too churnable to let Apple take up one of those slots

Re: Apple Financing

taxi818 — Tue, 09 Sep 2014 23:03:18 GMT

True. My next goal. Get rid of smart connect. Hello bill me later. Or pay pal credit.

Re: Apple Financing

AvadaKedavra — Tue, 09 Sep 2014 23:07:00 GMT

@taxi818 wrote:
You can't is what I meant to say. You can't PC it. You should never close a card. Because of util and aaa. But you can wait for them to close or buy a donut once in a while. And pay in full.

I'd say this is half true. AAoA isn't affected since accounts report for 10 Years after closing. Utilization however can be affected if you have limited credit available in which case you may want to move the limit to another card.

I had a Barclay Rewards MC during my rebuilding phase. After a year the card had aboslutely no use to me and I wanted to close it. I called the Barclays backdoor number and had the limit transferred over from that card to my Ring card and closed my Rewards card. My AAoA and Utilization was not affected. The CR will show that the card was closed by customer's request and since it was at least a year old, there won't be any red flags.

I'd say if you're looking to at least get in with Barclays and benefit from this card with an Apple purchase, go for it. Use it for a year, build a strong relationship with Barclays and if after a year they won't PC it, apply for another one of their cards and if you aboslutely feel the need to close this one, transfer the CL.

People often hate on Barclays but I've never had any issues with them and I've had two cards. My experience with customer service has actually been almost AMEX level and nothing shady has ever happened with any of my accounts.

Re: Apple Financing

taxi818 — Tue, 09 Sep 2014 23:05:42 GMT

Much better response. I agree completely.

Re: Apple Financing

Anonymous — Tue, 09 Sep 2014 23:08:27 GMT

"Might be one of the best BT cards out there. 1% fee, 0% apr for 15 months."

What are you smoking? The apple card is a 4% BT fee with a $10 fee min.

Re: Apple Financing

JoMellow — Wed, 10 Sep 2014 02:18:31 GMT

As a side note: it is possible to PC the card (however its a rare occurrence from what I've seen and read). They allowed me to PC from the Apple to the Rewards and then allowed me to move the cl to SM and close the Rewards card. With that said, its not really the best card out there for anything other than an Apple purchase (as was previously mentioned)

Re: Apple Financing

taxi818 — Wed, 10 Sep 2014 03:05:57 GMT

Wow. Good to know. If you did it. How long did you have before you pced it?

Re: Apple Financing

Anonymous — Wed, 10 Sep 2014 03:12:06 GMT

@Anonymous wrote:
"Might be one of the best BT cards out there. 1% fee, 0% apr for 15 months."

What are you smoking? The apple card is a 4% BT fee with a $10 fee min.

Lmao!

Also 22.99% interest on BT if I'm not mistaken.

Re: Apple Financing

TRC_WA — Wed, 10 Sep 2014 04:52:41 GMT

@AvadaKedavra wrote:

I'd say if you're looking to at least get in with Barclays and benefit from this card with an Apple purchase, go for it. Use it for a year, build a strong relationship with Barclays and if after a year they won't PC it, apply for another one of their cards and if you aboslutely feel the need to close this one, transfer the CL.

People often hate on Barclays but I've never had any issues with them and I've had two cards. My experience with customer service has actually been almost AMEX level and nothing shady has ever happened with any of my accounts.

I got the Barclay Apple card last year and used it for every month... $200-$500 and PIF. At 6 months I got an auto CLI from $1200 to $2200.

Well, my 12th statement cuts in a couple days. Balance is $0 having just paid off a $560 shopping spree from the past month. I'm expecting another auto CLI.

I may have the "worst" of the Barclay cards, but I'm in the door with them. When I feel the need to app for their better cards (like Sallie Mae) I don't see myself getting denied.

(I'm waiting till 2015 to app... Barclay likes to pull TU and ALL of the new accounts I opened in 2013 pulled TU, hence the reason my TU score is the lowest. Once these INQs age past 1 year my TU score should rebound and I'll be ready to app on 1/1/15)

BTW, regarding the balance transfers, I just got some transfer checks in the mail... 3.99% APR till 5/2015 with 4% fee... $10 minimum. Don't have a need for a BT though... I got this card to buy an iPhone at 0% and to get myself in the door with Barclays... and I've succeeded at both.