If you were hoping to use your Apple Card to finance a SIM-free iPhone, you’re going to have to look elsewhere.
Apple on Tuesday updated its U.S. Apple Card Monthly Installment plan to require those who use the feature to purchase an iPhone that is linked to AT&T, Verizon, or T-Mobile. With this change, the Apple Card Monthly Installment plan can no longer be used to purchase a SIM-free iPhone.
Given that all iPhones purchased through the Apple Card Monthly Installment plan are already unlocked, carrier switching is available at any point. With this change, at purchase, customers will need to have a plan with a supported carrier. Buying a SIM-free iPhone and linking it to a carrier will no longer be possible using installments.
Apple announced that these changes would take place in an updated support document back in June. Prior to this, Apple Card installments could be used to purchase an iPhone online with the option to connect to a carrier at a later date, which allowed customers to buy an iPhone and then link it to any carrier of their choosing.
Apple already required customers using Apple Card installments to choose one of the main three carriers when in stores, and now the online policy matches the in-store policy.
Through the Apple Card Monthly Installment plan, card holders could pay for their devices over a 24-month period with 0 percent APR and 3 percent Daily Cash back on payments.
Other changes to the monthly installment term policy include the Apple Watch, and customers will now be required to pay off the device over 12 months instead of 24 months. The same 12-month requirement now also applies to the Apple Watch, Macs, displays, and iPads, with the 24-month term limited to the iPhone.
Stay tuned for additional details as they become available.
Via MacRumors and support.apple.com