During today’s fiscal Q4 2019 earnings call, Apple CEO Tim Cook announced a new feature coming soon for Apple Card users.
Customers will be able to buy a new iPhone using their Apple Card, paying for it in 24 monthly payments with no interest. Plus, they’ll continue to get the usual 3% cash back on the purchase.
Cook didn’t mention when the new Apple Card iPhone payment plan will become available, saying only it would be coming this year. That indicates the program could likely be introduced before the holiday shopping season begins in late November.
Cook says Apple has been “thrilled” with the Apple Card’s reception since its launch back in August, saying Apple believes it was the “most successful launch of a credit card in the United States ever.”
The Apple Card iPhone offer should contribute to even better sales than the iPhone 11 lineup is already seeing. In an interview with Reuters, Cook said that iPhone 11 sales are off to a “very, very good start” so far, and the company has seen improved sales in key markets like China
Apple is predicting strong holiday quarter sales offering guidance of between $85.5 billion to $89.5 billion. Cook said that the guidance is based on strong sales of services and wearables as well as promising early sales of the new 2019 iPhones.