Apple announced earlier today that’s it’s adding another benefit to the Apple Card starting this week, which is aimed to appeal to iPhone users. During its earnings call, Apple revealed a new program for Apple Card users that will allow them to buy or upgrade to a new iPhone much easier.
Thanks to the new program, Apple Card owners will receive interest-free, 24-month financing on iPhone purchases. The new perk can be combined with the three percent cashback Apple Card users are getting on purchases from the company’s stores.
The same offer is available through the iPhone Upgrade Program, so if you don’t have an Apple Card, that’s where you should look if you want to buy a new iPhone without having to pay for it upfront.
The third option for Apple fans who just want to upgrade to a new iPhone is to take advantage of the company’s trade-in program, which will allow them to pay a lot less for a brand new model. And it looks like this is one of the options that many customers are taking advantage of, as CFO Luca Maestri said on the call. The number of iPhone trade-ins is more than five times higher than last year.
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The move is most likely another important step that brings Apple closer to the launch of the so-called “iPhone subscription,” which has been speculated for many years now. Tim Cook’s most recent comments certainly confirm Apple is considering such a service:
We’re cognizant that there are lots of users out there that want a sort of a recurring payment like that and the receipt of new products on some sort of standard kind of basis, and we’re committed to make that easier to do than perhaps it is today.
Although an “Apple Prime” doesn’t exist yet, Tim Cook’s statements suggest that if enough people are willing to pay every month for the privilege of having the latest iPhone, such a subscription service will eventually be made available.