@Itgem679 wrote:
@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."
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.
Nope 4 payments haha. Week 0 payment still counts.
No financing thing ever is done to make less money at some level, but I know why this was done ultimately as someone suggested it's not in the consumer's interest.
If I didn't have credit card rewards I'd be a lot more interested in this though, ultimately more money in my pocket for longer is a win financially, but I am not the demographic that they are targeting with this.
@OmarGB9 wrote:
@TheRedHat wrote:"Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks."
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.
Yeah seems very odd that it wouldn't be like 4 payments over 8 weeks. Weird terms.
// 
If it will be only possible to pay with debit card, what is the advantage of this BNPL?
No cashback, no points.
The Apple Pay universe is getting more and more complicated.
Apple Card also has the possibility to pay later (especially for Apple products).
For a new iPhone/Apple user it is really hard to understand the differences between all these financial systems.
@Centurion_Dreamer wrote:If it will be only possible to pay with debit card, what is the advantage of thisBNPLL?
Nocashbackk, no points.
The Apple Pay universe is getting more and more complicated.
Apple Card also has the possibility to pay later (especially for Apple products).
For a newiPhonee/Apple user it is really hard to understand the differences between all these financial systems.
I do not think that financially savy individuals such as MyFico'ers are the target demographic for this incentive. This is most likely geared toward those with poor credit who would like a vehicle with which to break down big purchases into easier to swallow chunks and otherwise would not have credit cards or even prime cards with CB rewards etc.
@TheRedHat wrote:"Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks."
If you have the Apple Card, wouldn't it be more beneficial to use the installment plan it offers?
@OniStringer wrote:
@TheRedHat wrote:"Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks."
If you have the Apple Card, wouldn't it be more beneficial to use the installment plan it offers?
@OniStringer - the article is in reference to individuals who do not have that CC option (or wish not to have the Apple CC). Simply a future feature of Apple Pay.
@FinStar wrote:
@OniStringer wrote:
@TheRedHat wrote:"Apple Pay Later will let you break the cost of purchases into four equal payments spread over six weeks."
If you have the Apple Card, wouldn't it be more beneficial to use the installment plan it offers?
@OniStringer - the article is in reference to individuals who do not have that CC option (or wish not to have the Apple CC). Simply a future feature of Apple Pay.
Ahhh okay. Disregard then. Does seem like a cool feature that they should have had a long time ago.
