If you’ve been hoping to buy a new Mac or iPad but the price tag has been holding you back, you’re in luck. On Monday, Apple announced the expansion of its Apple Card Monthly Installments financing program, making it available on purchases of all new Macs, iPads, Apple TVs, AirPods and over a dozen other products sold in the Apple Store.
The program allows Apple Card holders to spread out the cost of many new Apple purchases over a period of 6 to 12 months, depending on the product, at a 0% interest rate. The monthly payments are managed from the Wallet app on the card holder’s iPhone.
Macs and iPads bought with the Apple Card from the Apple Store now qualify for up to 12 months of 0% interest financing, as do purchases of the Pro Display XDR monitor, the Pro Stand, the VESA Mount Adapter Kit for iMac Pro, the Apple Afterburner Card and leather sleeves for either the MacBook Air or MacBook Pro.
Several iPad accessories are also eligible for 12 months of 0% interest financing, including the Magic Keyboard for iPad Pro, the Apple Pencil, the Smart Keyboard Folio for iPad Pro, the Smart Keyboard for iPad and iPad Air, and Smart Folios and Covers for the iPad Pro and iPad.
While payments on new Apple TVs, HomePods and AirPods can also be spread out, those products come with a shorter 6-month period of 0% interest financing when purchased with the Apple Card at the Apple Store. But even then, you can get a new set of AirPods Pro — which CNN Underscored recently named its best overall true wireless earbuds — for just $41.50 a month plus sales tax over six months.
The Apple Card also regularly earns 3% cash back on everything you buy from Apple, and that still applies even if you finance the purchase. Even better, you’ll earn 3% cash back on the entire purchase immediately even if you choose to spread out the payments over time.
The new financing option makes the high price tag on a number of Apple products significantly more palatable. For example, the latest fourth-generation iPad Pro is one of the zippiest tablets we’ve ever tested, but can cost as much at $999.99 for the 12.9-inch model before adding any accessories. But if you take advantage of the new Apple Card 12-month financing option, you can get it for less than $84 a month plus sales tax, making it a much more attractive deal.
Or while the combined price tag of a Mac Pro with a Pro XDR Display and a VESA Mount Adapter kit is normally a bit eye-watering at over $11,000, by using the Apple Card 12-month installment plan, you can instead pay a much more reasonable $933 per month plus taxes, and still be able to use the gear at the same time you’re paying for it.
The Apple Card Monthly Installments program was originally launched last year on the company’s iPhones. It provides 0% interest financing for up to 24 months on new iPhones purchased with the Apple Card at the Apple Store.
While the Apple Card isn’t one of the best overall credit cards when it comes to everyday spending, its 3% return at Apple is solid, and now with the addition of a 0% interest financing option, it’s likely the best choice when making eligible purchases at the Apple Store.
Looking for a new credit card? Read CNN Underscored’s guide to the best credit cards of 2020.