As mentioned on Reddit, unlocked aka SIM-free iPhone models now qualify for Apple Card monthly rates, which enables customers to buy an iPhone with the Apple Card and pay for it in the US free of interest and fees for two years. Previously, the installment plan was limited to carrier-activated iPhones.
With monthly installments, the costs for your new iPhone are divided into 24 interest-free monthly installments. Each installment is included in your Apple Card Minimum Payment and is due every month for 24 months. Monthly rates are billed on the last day of the month on your Apple Card bill.
Apple already has interest-free iPhone financing through its iPhone upgrade program, but the Apple Card plan has a few perks, including managing payments in the Wallet app and no late fees. iPhone purchases through monthly Apple Card installments also qualify for instant 3% overnight money.
This is how you can view and pay the monthly installments of the Apple Card
Paying a monthly installment for the Apple Card is as easy as paying your minimum amount or higher each month.
To view and manage your monthly Apple Card payments, update to iOS 13.2 or later. Then open the Wallet app, tap your Apple Card, tap the three dot button in the top right corner and tap Install.
The Installment Payments screen shows the total amount paid so far, the remaining balance, the due date and the amount of your next monthly installment, as well as a history of your monthly payments. There is also an “Pay Early” option that can be used to reduce the number of payments. To do this, however, your entire Apple Card balance must first be paid off.
If you tap on Total Funded, you can see more details like a description of the iPhone you bought and how much daily money you received.
As a shortcut, if you buy an iPhone with monthly Apple Card rates, you will get a notification on the iPhone or iPad that will manage your Apple Card, which you can tap to view the rate details.
Monthly rates for the Apple Card are available for purchases made in Apple Stores, Apple.com, and the Apple Store app.