https://9to5mac.com/2023/06/15/apple-card-financing-sim-free-iphones/
Apple is making a major change to its Apple Card Monthly Installment purchase option for iPhone buyers. Starting in August,...
That's fine, I'll just buy used phones instead again. I will never go back to using big carriers who want me to pay twice as much as a MVNO.
You can still buy unlocked phones, you just can’t finance them with Apple Card monthly installments.
Couldn’t do it to myself, there is a reason MVNOS are cheaper they get deprioritised access to the network and the big one they collect all your data for selling.
The explanation from Apple does not give “why” they are removing financing for carrier unlocked phones.
Is this pushback from the major carriers?
Is GS trying to reduce their liability by offloading financing to major carriers?
So many questions unanswered.
It really is strange and upsetting they didn’t explain this move. I’m on a friend and family plan and it’s way easier to just buy the phone on my own and do a sim transfer than to call my account holder friend and make him take time out of his day to setup my phone
I feel like it has to be some sort of contract renegotiation between Apple and the carriers, doesn’t make a lot of sense for Apple to just do this independently.
I remember there were some articles about how the Apple Card has been kind of a mess for GS and maybe even a money loser on their end.
Most likely is GS trying to cut down on credit card lending, like all banks are now, and this is an easy way for them to do it without saying that they are. Of course they won’t come out and say that, which is probably why there’s no explanation or big announcement for this
People say GS, but I feel like financing iPhones only makes up a tiny part of Apple Card lending.
This is a pretty shitty move on Apple’s part. It’s sort of ridiculous that you can’t finance Apple’s flagship product on Apple’s card, the way you’d want. Carrier or no carrier. I don’t finance generally but I guess there’s no incentive to use the Apple card for those that want to finance. I think this is a bid to help out carriers with declining profits, but they seem to be shooting themselves in the foot here.
More likely it’s GS trying to cut down on their risky investments given the current economic situation. These unsecured 0% internet loans are very risky for banks and have absolutely no reward, and since banks are tightening up their credit card lending this is a good way to cut that down without lowering credit limits or denying applications. Lower sales in this case is exactly what they want - the number of people skipping the 15 because of this is low enough that the decreased risk is worth it for Apple and GS
https://support.apple.com/en-us/HT211204
Apple Watch financing is also going from 24 -> 12 months which I can see GS pushing for this change. It allows them re coup the money they lent out quicker.
The carrier restriction is such an odd move though. Presumably this would be some deal between Apple and the big three and Apple gets a cut for only having those carriers as options?
On the flip side does not bother me personally too much. I'm on a 4 year (or break) cycle and I still have 2 more years to go for now. Would not consider a big three ever. The savings from picking a MVNO in the US are plenty.
I use Xfinity mobile but it’s frustrating that if you don’t use the big 3 you can’t use the 0% financing now. Also most of the “deals” are for the big 3. Lately I’ve been buying from Xfinity mobile directly because of this.
I had been planning on just getting directly from Apple because the carrier deals just aren’t really worth it because they make it difficult to leave that carrier. I’d rather have a phone financed with Apple and be able to move between any carrier I want.
Yeah, I've always bought unlocked iPhones direct from Apple. I've always felt like that was the correct way to buy a phone, and the financing part was a carrot on a stick to get you to agree to being locked into a specific carrier. Has Apple always done their own financing, or is it a newer thing recently? I'm still rocking the 8 so I haven't looked into phones for a while now (since 2017 I think). It could be the carriers were upset at Apple for basically taking away their carrot. Why would anyone choose to be locked if they could get the same deal with an unlocked phone instead?
I’m not sure about before Apple Card, but one of the bigger draws of Apple Card is financing Apple products with zero interest. Just seems ridiculous that you can’t finance an iPhone using Apples own credit card unless you have service with one of the big 3 carriers. I was also thinking it has to be carriers getting upset people use their Apple Card’s to buy unlocked and bring it to their network avoiding BS fees they charge.
How do you like xfinity mobile? I just switched to it from tmobile. It’s working well so far for me.
I switched from tmobile as well about 3 years ago. I’ve had a pretty great experience with them overall. Coverage is as good or better than tmobile in my experience, and I’m paying a lot less. International service has also been great. $10/day for unlimited calls, texts, and a fair amount of data.
I have no complaints.
I like it. I’ve had it for like 2 years or so. Just switched to the unlimited plan and for me can’t beat the price and good coverage. One issue is Xfinity mobile support if you need it is very bad.
I have been dealing with my iPhone 8 waiting for USB C iPhone. 15 looks like it may be a great upgrade and assumed having Apple Card would allow me to finance without having to be a part of one of the big carriers.
I'm happy with the mini form factor and don't want a heavy phone. I don't use it gaming, so it doesn't have to be the latest and greatest. I was waiting for usb-c but I'm afraid the mini will never return. So, I might just stick with this until it works no more.
I’m curious whether or not “carrier connection” includes prepaid mobile plans or if it’s shorthand for “contract-only”.
I assume you just have to activate with that carrier. Do the big 3 even have prepaid plans?
Yeah, AT&T has a fairly sweet prepaid plan. Unlimited data, talk, text, no throttling, and only $50 a month if you use autopay.
TIL, that sounds pretty good and I assume it would qualify, if you are activating on att it shouldn’t matter what kind of plan. I recently moved to Visible which is owned by Verizon but unfortunately I don’t think that counts.