Apple Purchases

[ccpat]

I'm sure there's a thread "somewhere" in the community on this but I can't find it. I'm an Apple Fanatic so I'm curious how do most of you make large Apple purchases and pay over time.  I was using Apple Barclaycard but they recently reduced my limit to 1200 (bc of my overall util - 43%).  No biggie since most have said Barclay isn't the best to have anyway.  I'm not able to get the Apple Card yet... Need to get scores up a bit. 

Other than Barclay and Apple Card, what are other ways to make a large Apple purchase and pay over time?

[Anonymous]

Carrier financing

0%/low interest promo APR cards, NFCU Platinum should be a easy one

I usually buy stuff outright, no financing. Don't like increasing monthly debts/obligations.

[cashorcharge]

If you're looking to stay within the Apple ecosystem, other than the 2 routes you mentioned with regards to dealing with Apple...I have never seen an alternative.  They don't use 3rd parties like AffirmPay or anything like that.  

[ccpat]

Yes I was.  Thanks.  I guess I'll have to resort to a Best Buy or Amazon structure that has 6 month/no interest plans.  

[cashorcharge]

I was guessing you were not getting a phone, ipad or watch.

If you were....depending on your carrier...most offer a payment plan for 24 months with no interest...but it's only limited to those 3 items they typically sell.  Mac's and such are not sold by Telecom Carriers.

[longtimelurker]

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@cashorcharge wrote:

I was guessing you were not getting a phone, ipad or watch.

If you were....depending on your carrier...most offer a payment plan for 24 months with no interest...but it's only limited to those 3 items they typically sell.  Mac's and such are not sold by Telecom Carriers.

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Seems like that should be an opportunity!  Especially when a new iPhone comes along, you would think there would be some True Believers going to the carrier who would be interested in a "package" (perhaps over-priced!) that combined the iPhone with a new Mac and some (definitely overpriced) accessories.

[TGG_1976]

Not sure if you have an Amex Platinum or Gold, but they both offer Pay over Time features. I would not use them since APR is pretty high. But you could run the purchase through those cards and then pay down the amount through Amex. But again, not the best solution from a "smart" financial standpoint. I did get an offer for the Apple Card but personally don't think it's worth it. Technology deprecates so quick in value (Apple products slightly slower than other brands), so by the time you done paying your financed amount, you are almost ready to upgrade again. I'd say, safe up and pay full if you can.

[adelphi_sky]

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@TGG_1976 wrote:

Not sure if you have an Amex Platinum or Gold, but they both offer Pay over Time features. I would not use them since APR is pretty high. But you could run the purchase through those cards and then pay down the amount through Amex. But again, not the best solution from a "smart" financial standpoint. I did get an offer for the Apple Card but personally don't think it's worth it. Technology deprecates so quick in value (Apple products slightly slower than other brands), so by the time you done paying your financed amount, you are almost ready to upgrade again. I'd say, safe up and pay full if you can.

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Then wouldn't a lease program work in this scenario? If the OP is an Apple fan, there's no doubt they will always get an upgrade. Just like wireless carriers now offer monthly payment plans for phones. Seems to me if a person will always get a laptop, watch or phone when the old one dies, a 3-4 year lease program would be beneficial.

[Anonymous]

I noticed there's a prequalify for the Apple Card. No doing to the credit. I have a 670 fico Equifax and was approved for a whopping $250. With an outrageous 21% APR. Yikes. This will be a back up if I leave my wallet at home, since it works on Apple Pay.  Can't wait to see a CLI.