Apple Card Will Offer Special Financing Plans on Certain Purchases

Apple Card terms specify that iPhone holders can't jailbreak their phone

Apple Card Will Offer Special Financing Plans on Certain Purchases

Later this month, Apple is expected to launch Apple Card for all iPhone users.

The Apple Card has already drawn praise for being very consumer friendly, and users will reportedly be able to make large purchases and then pay for them over time without interest payments being added.

The Apple Card is the most highly anticipated credit card in recent memory, an exclusive collaboration between the tech giant Apple and the financial services company Goldman Sachs.

The document also details on how interest rates are determined, how daily balances are collected, when interest begins to accrue, how minimum payments are calculated and when payments should be made to avoid interest.

According to Bloomberg, the rewards program related to the Apple-branded Barclays card has been dropped.

In a move that is certain to raise eyebrows, Apple and Goldman Sachs have categorized cryptocurrency in the "Cash Advance and Cash Equivalents" category.

This is a benefit Apple didn't mentioned when it unveiled its credit card in the spring.

Earlier in March, Apple introduced the Apple Card, built into the Wallet app on iPhone, to offer users a familiar experience with Apple Pay and the ability to manage their card on their devices. Users would also get 3% cash back on Apple products, 2% on Apple Cash transactions, and 1% on all other transactions.

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