Q: 2019 iPhone release - promotions or special financing or upgrade program w/ Apple Card ?

[4sallypat]

With the new 2019 iPhone being released in a month, does anyone have any confirmed info, rumors or leaks about special financing or promotions for those wanting to get a new iPhone ?

The reason I ask: Goldman Sachs Apple Credit card has just been released to the US masses and I for one would like to use the credit line to get that new upcoming iPhone next month.

In the past years, Apple has used Citizen's One Bank and Barclay's Apple reward card to offer either zero % financing or annual phone model upgrades.

My current work / business phone is so old (iPhone 7+) that I got years ago when Apple offered 0% financing thru Barclay's and have not upgraded since..

Would anyone love to get the newest iPhone from Apple with the same promotion like 0% financing using the Apple Card??

Or does any know if Apple will still continue to use Citizen's One bank for their upgrade program or Barclay's bank for their Apple Rewards ?

OTOH I don't want to get a new iPhone if I have to pay 17.9% interest each month on my Apple Card....

 

[nrvna76]

With the new 2019 iPhone being released in a month, does anyone have any confirmed info, rumors or leaks about special financing or promotions for those wanting to get a new iPhone ?

The reason I ask: Goldman Sachs Apple Credit card has just been released to the US masses and I for one would like to use the credit line to get that new upcoming iPhone next month.

In the past years, Apple has used Citizen's One Bank and Barclay's Apple reward card to offer either zero % financing or annual phone model upgrades.

My current work / business phone is so old (iPhone 7+) that I got years ago when Apple offered 0% financing thru Barclay's and have not upgraded since..

Would anyone love to get the newest iPhone from Apple with the same promotion like 0% financing using the Apple Card??

Or does any know if Apple will still continue to use Citizen's One bank for their upgrade program or Barclay's bank for their Apple Rewards ?

OTOH I don't want to get a new iPhone if I have to pay 17.9% interest each month on my Apple Card....

I will let you know if I do upgrade to the iPhone 11. I do not have an Apple Card, they would have to transfer current people to it as they upgrade their phones.

 

[AidenShaw]

With the new 2019 iPhone being released in a month, does anyone have any confirmed info, rumors or leaks about special financing or promotions for those wanting to get a new iPhone ?

The reason I ask: Goldman Sachs Apple Credit card has just been released to the US masses and I for one would like to use the credit line to get that new upcoming iPhone next month.

In the past years, Apple has used Citizen's One Bank and Barclay's Apple reward card to offer either zero % financing or annual phone model upgrades.

My current work / business phone is so old (iPhone 7+) that I got years ago when Apple offered 0% financing thru Barclay's and have not upgraded since..

Would anyone love to get the newest iPhone from Apple with the same promotion like 0% financing using the Apple Card??

Or does any know if Apple will still continue to use Citizen's One bank for their upgrade program or Barclay's bank for their Apple Rewards ?

OTOH I don't want to get a new iPhone if I have to pay 17.9% interest each month on my Apple Card....

If you can't simply pay upfront in cash - you should consult a financial advisor. You're holding it wrong - or maybe you don't need the latest Iphone.

Borrowing money to buy the latest shiny thing from Apple is a sign of bad judgement.

 

[nrvna76]

If you can't simply pay upfront in cash - you should consult a financial advisor. You're holding it wrong - or maybe you don't need the latest Iphone.

Borrowing money to buy the latest shiny thing from Apple is a sign of bad judgement.

The iPhone upgrade program or 0% financing options are not a sign of bad judgement.

If you don’t want to use those option, not a problem at all, doesn’t mean nobody should ever use them.

 

[4sallypat]

If you can't simply pay upfront in cash - you should consult a financial advisor. You're holding it wrong - or maybe you don't need the latest Iphone.

Borrowing money to buy the latest shiny thing from Apple is a sign of bad judgement.

Uh no - bad judgement is risking your money.

On a car, whenever I finance a car with 0% - I am at a better position fiscal wise because why pay for a car where my money is tied up and won't be giving me a return ?

Why put up the full amount on a seriously depreciating item and risk losing a huge chunk of money should it get totalled or stolen (even after the insurance pays out a low blue book)?

I can certainly pay for the phone upfront in cash or credit but why?
When there is a way to use someone else's money to pay for it over time - why not ?

 

[brinary001]

With the new 2019 iPhone being released in a month, does anyone have any confirmed info, rumors or leaks about special financing or promotions for those wanting to get a new iPhone ?

The reason I ask: Goldman Sachs Apple Credit card has just been released to the US masses and I for one would like to use the credit line to get that new upcoming iPhone next month.

In the past years, Apple has used Citizen's One Bank and Barclay's Apple reward card to offer either zero % financing or annual phone model upgrades.

My current work / business phone is so old (iPhone 7+) that I got years ago when Apple offered 0% financing thru Barclay's and have not upgraded since..

Would anyone love to get the newest iPhone from Apple with the same promotion like 0% financing using the Apple Card??

Or does any know if Apple will still continue to use Citizen's One bank for their upgrade program or Barclay's bank for their Apple Rewards ?

OTOH I don't want to get a new iPhone if I have to pay 17.9% interest each month on my Apple Card....

I imagine Apple will do something to promote the new phones as well as the card by offering the same 0% financing as the Citizens One program. But they'll almost certainly keep the other financing options around for those who still want a new iPhone but not get locked into Apple's walled garden.

I have a XS Max so idk yet if I'll upgrade to this year's phones, but if I do I'll use the card to buy it. Unless they didn't offer a financing option while using it, but my guess is they will still use Citizens One and just tweak the Apple Pay data handling service to whitelist the monthly lease cost as being 3% cash back since they'll know it's for an iPhone.
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If you can't simply pay upfront in cash - you should consult a financial advisor. You're holding it wrong - or maybe you don't need the latest Iphone.

Borrowing money to buy the latest shiny thing from Apple is a sign of bad judgement.

But your prejudgment of OP's financial situation is the worst kind of judgment, even more so than bad judgment. For all you know, they're doing just fine but maybe doesn't want a thousand dollars withdrawn all at once from their bank account? I certainly have a thousand dollars right now in my bank account, but that doesn't mean I just want it all to vanish in one fell swoop... If I have the cash and can disperse it monthly at ~$50/mo rather than $1100 all at once, then why NOT go with the lesser blow of the two?

 

[AidenShaw]

I certainly have a thousand dollars right now in my bank account, but that doesn't mean I just want it all to vanish in one fell swoop...

I think that you are inadvertently supporting my point - if $1K for a shiny toy would empty your bank account, then perhaps you should reconsider whether you need a new $1K toy.

Put the $50/month into savings or your 401(k).

If you're a multi-millionaire, and can play games with 0% financing to keep your cash where it can get a nice yield - then by all means let Apple help you increase your millions.

 

[brinary001]

I think that you are inadvertently supporting my point - if $1K for a shiny toy would empty your bank account, then perhaps you should reconsider whether you need a new $1K toy.

Put the $50/month into savings or your 401(k).

View attachment 854779

I never said it would "empty" my bank account... It would just be an unwelcome blow to it lol. I am fortunate enough to say that I could lose a thousand dollars tomorrow and, while it's not like it wouldn't be any skin off my back, life would carry on just fine. That was my point. I do have the cash to buy it outright, but I just can't see the point in doing that if it's literally the exact same cost to just pay it off in small chunks a month at a time.

And I do pay into my 401(k) along with a generous matching program by my employer. It IS possible to be both financially responsible and spoil yourself at the same time

 

[AidenShaw]

And I do pay into my 401(k) along with a generous matching program by my employer. It IS possible to be both financially responsible and spoil yourself at the same time

Congratulations on your financial planning. You're one of the millionaires who should be using 0% offers to plan cash flow.

Sadly, however, too many people who are living on the edge take these 0% offers to buy into the "latest shiny toy" promotion when they shouldn't.

I read a recent article which defined "living on the edge" as not having 6 months take home pay in your savings account (or other liquid vehicle).

 

[4sallypat]

I never said it would "empty" my bank account... It would just be an unwelcome blow to it lol. I am fortunate enough to say that I could lose a thousand dollars tomorrow and, while it's not like it wouldn't be any skin off my back, life would carry on just fine. That was my point. I do have the cash to buy it outright, but I just can't see the point in doing that if it's literally the exact same cost to just pay it off in small chunks a month at a time.

And I do pay into my 401(k) along with a generous matching program by my employer. It IS possible to be both financially responsible and spoil yourself at the same time

I am glad someone is in the same position....

Agreed @brinary001 - it's better to use someone else's money at 0% cost to you and pay over time.
I miss my Barclay's Apple Rewards Visa that I was able to get an iPhone for 0% and paid off in 24 months plus AppleCare and $50 Apple gift card.

Hoping Apple does something like this for the new iPhone 11....

BTW: I am about 5 years from public sector retirement (CALPERS) and since I also have a 403b along with my state pension, I will be making more money than I am working. So I too can spoil myself after I retire!

 

[brinary001]

I am glad someone is in the same position....

Agreed @brinary001 - it's better to use someone else's money at 0% cost to you and pay over time.
I miss my Barclay's Apple Rewards Visa that I was able to get an iPhone for 0% and paid off in 24 months plus AppleCare and $50 Apple gift card.

Hoping Apple does something like this for the new iPhone 11....

BTW: I am about 5 years from public sector retirement (CALPERS) and since I also have a 403b along with my state pension, I will be making more money than I am working. So I too can spoil myself after I retire!

Nice! That's the way to do it, my friend. I'm only 24 so I've got a looooooooong way to go before retirement
But don't worry, I am investing steadily in my 401(k) which my company matches 150%, I have a personal investment account with Edward Jones, and I work in tech, so not only do I make good money now, it's literally the least amount I'll ever make which is pretty cool!

Also, forgive my Midwest ignorance haha but what is CALPERS?

 

[brinary001]

Congratulations on your financial planning. You're one of the millionaires who should be using 0% offers to plan cash flow.

Sadly, however, too many people who are living on the edge take these 0% offers to buy into the "latest shiny toy" promotion when they shouldn't.

I read a recent article which defined "living on the edge" as not having 6 months take home pay in your savings account (or other liquid vehicle).

Oh for sure you shouldn't do something like that if it you're riding the edge that closely. I've heard that too, but it always changes. I've heard two months take home pay, three months, six months, etc. I certainly have enough I could survive many weeks without a job. Plus I am fortunate to have a loving and supportive family who, if times ever did get tough for me, would welcome me back home with open arms (as is also the case for them with me).

I get what you're saying about fiscal responsibility. But I also don't think we should go through life only thinking about anticipating the bad things like rainy days, or our end days after we retire, and so on. You only get one life so make sure to live it well, because we could be gone tomorrow, and if I am gone tomorrow I would rather have lived my life with as many of the people and things I love as possible! But most likely, and I certainly hope, I will not be gone tomorrow. So that's why I still have retirement plan

 

[rc135tx]

I think that you are inadvertently supporting my point - if $1K for a shiny toy would empty your bank account, then perhaps you should reconsider whether you need a new $1K toy.

Put the $50/month into savings or your 401(k).

View attachment 854779

If you're a multi-millionaire, and can play games with 0% financing to keep your cash where it can get a nice yield - then by all means let Apple help you increase your millions.

Actually your point is you think you can make financial decisions for others while knowing nothing about them or their circumstances.

 

[4sallypat]

....
Also, forgive my Midwest ignorance haha but what is CALPERS?

CALPERS is the state of California public employee retirement system.
It's a pension program in CA for police, firefighters, public works, city, county, etc...

Since I just hit 55 years of age, I get that big bump in my pension (2% @ 55) and qualify for early retirement.
But my financial advisor advised against retiring early because I won't be able to draw from Social Security until 62 and my 403b until 60.....

 

[brinary001]

Since I just hit 55 years of age, I get that big bump in my pension (2% @ 55) and qualify for early retirement.
But my financial advisor advised against retiring early because I won't be able to draw from Social Security until 62 and my 403b until 60.....

I must be way too young still because I don't understand any of that except the social security at 62 haha