cancel
Showing results for 
Search instead for 
Did you mean: 

Apple to offer it's own BNPL

Get your FICO Score for free

No credit card required

NoMoreE46
Community Leader
Valued Contributor

Apple to offer it's own BNPL

Message 1 of 11
10 REPLIES 10
TheRedHat
Frequent Contributor

Re: Apple Card to offer it's own BNPL

"Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks."

 

Smiley Indifferent

 

Last Signature Update: 11/16/2022

Goal Cards:

FICO 8:
     
Message 2 of 11
C6
Regular Contributor

Re: Apple Card to offer it's own BNPL

Payments for Apple Pay Later must be made with a debit card.

 

This is just another useless service to indebt the uninformed.

Message 3 of 11
OmarGB9
Community Leader
Super Contributor

Re: Apple Card to offer it's own BNPL


@TheRedHat wrote:

"Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks."

 

Smiley Indifferent

 


Four payments over six weeks? So a payment roughly every 10 days? Not even at least every two weeks, which is when most people get paid. Smiley Indifferent


Last App: 9/22/2022
American Express Platinum Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 4 of 11
TheRedHat
Frequent Contributor

Re: Apple Card to offer it's own BNPL

Even more than that. If I were to charge something to a credit card on say the 10th and my statement cuts on the 1st of each month, then my payment to avoid interest on the charge wouldn't be due until around the 26th of the following month. Which would be 6 or 7 weeks later. So what exactly is the benefit of this?

Last Signature Update: 11/16/2022

Goal Cards:

FICO 8:
     
Message 5 of 11
Matt9543
Frequent Contributor

Re: Apple Card to offer it's own BNPL


@TheRedHat wrote:

"Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks."

 

Smiley Indifferent

 


Most likely it will be payment 1 due immediately, payment 2 due at the 2 week mark, payment 3 due at the 4 week mark, and then payment 4 due at the 6 week mark.


FICO Scores (current as of November 24, 2020): Equifax: 740 | Experian: 751 | TransUnion: 732
Message 6 of 11
Matt9543
Frequent Contributor

Re: Apple Card to offer it's own BNPL


@TheRedHat wrote:

Even more than that. If I were to charge something to a credit card on say the 10th and my statement cuts on the 1st of each month, then my payment to avoid interest on the charge wouldn't be due until around the 26th of the following month. Which would be 6 or 7 weeks later. So what exactly is the benefit of this?


This is not tied to the Apple Card. Apple Pay Later will be completely different than the Apple Card, and isn't even going to be through Goldman Sachs. Apple Pay Later will be offered by (I believe) Apple Financial Services LLC


FICO Scores (current as of November 24, 2020): Equifax: 740 | Experian: 751 | TransUnion: 732
Message 7 of 11
Anonymalous
Established Contributor

Re: Apple Card to offer it's own BNPL


@Matt9543 wrote:

@TheRedHat wrote:

"Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks."

 

Smiley Indifferent

 


Most likely it will be payment 1 due immediately, payment 2 due at the 2 week mark, payment 3 due at the 4 week mark, and then payment 4 due at the 6 week mark.


Confirmed in the article: "Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks. The first payment will be due when you make your purchase, and the remaining payments are due every two weeks after that."

Message 8 of 11
NoMoreE46
Community Leader
Valued Contributor

Re: Apple Card to offer it's own BNPL

Good catch on this offer being through a linked debit card @C6  and @Matt9543 .


I will edit my title to Apple to offer vs Apple Card to offer

 

 

Message 9 of 11
Itgem679
Contributor

Re: Apple Card to offer it's own BNPL


@Anonymalous wrote:

@Matt9543 wrote:

@TheRedHat wrote:

"Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks."

 

Smiley Indifferent

 


Most likely it will be payment 1 due immediately, payment 2 due at the 2 week mark, payment 3 due at the 4 week mark, and then payment 4 due at the 6 week mark.


Confirmed in the article: "Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks. The first payment will be due when you make your purchase, and the remaining payments are due every two weeks after that."


So it's really 3 payments over 6 weeks. 

Current scores (11/2022): Ex: 746 Eq: 720 Tu: 703
CLs: (As of 11/2022)
First Tech World Mastercard: $10k
AAdvantage: $2800
Wells Fargo Platinum: $4600
Discover It (blue): $4500
Discover It (red): $4500
~6 other cards with limits under $2000
Auth'd user on 1 Capital One card.
All balances stay under 5%.
Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.