I haven't used the financing option on the Apple card yet but I plan to do that when new products come out later this year, but I want to know how the financing amount would be reported to CBs and how it would affect reported utilization.
I know from looking around that they charge the entire purchase amount to the card but do not show the entire amount as the outstanding balance. It is a little confusing to me how that would be reported.
GS reports the total of what you owe, including the unpaid portion of Apple Store items on payment plans as your balance to the credit bureaus. So yes, the entire Apple Store item does use up available Credit Limit.
On the monthly statement each payment plan is incremented with that month installment amount ( X payment of Y total payments due in that plan ) so that monthly installment amount is added to other new charges during that month as your new balance for the monthly payment. All these feed into the Payment Wheel to total up to the suggested payment to avoid interest charges. The focus on the statement is to let you know how much to pay to avoid interest; one of the top priorities of the Apple Card is to help you buy more Apple products.
If one carries a balance and has interest charges, that complicates the monthly payment amount.
