Apple Cardholders have a new incentive to upgrade to a new iPhone starting today – 24 months with zero interest.
If any cardholder purchases an iPhone anytime between today and Dec. 31, they will get 6 percent back, rather than the standard 3 percent.
Apple announced the incentive plan during its October earnings call. The 6 percent deal goes towards any Apple purchase at an Apple Store, on Apple.com or with the Apple Store app.
You can find out more about the new Apple Card installment plan on Apple’s website.
As reported this morning by Tech Crunch, Apple customers already have an interest-free option with the iPhone Upgrade Program (this will continue for non-Apple Cardholders). However, Citizens One which provides a 24-month installment loan can still charge fees.
Tech Crunch’s Sarah Perez wrote that today’s incentive plan launch “lays the groundwork for what could grow to become a larger subscription offering.” She said Apple could create other subscription bundles with iPhone purchases customers would want, such as Apple TV+, Apple Music or Apple Arcade to name a few.