Hi
So I'm thinking of buying a Macbook for uni and while I have the money right now to buy it outright I'd prefer to do it over a period
I was wondering if anyone has had any experience using Apple interest free? Ie what are the fees, hidden costs and catches. I will probly try make payments of $300-400 a month. Is it usually possible to pay these loans off before term ends?
Thanks
I have read it but reading it, it looks like I have to apply for a mastercard go card and reading reviews for that people seem to be complaining about hidden fees
I am pretty sure Apple uses Gem Visa which is latitude finance.
The interest free term is 18 months on a MacBook.
And it’s a credit card so you just have to pay it off before the 18 months.
Gem does charge a $99 annual fee though which will be charged in your second month.
It’s a credit card so you can make payments as often as you want. The most important thing is when the interest free term ends and whether money is owing.
Is it just the annual fee that's extra? Do I just cancel after I pay it off
When something is free, you are the product
While a good adage, depends. Here, it's (probably) more than made up by the increased Apple sales that this encourages. They lose money on people like OP, make money on people who can't really afford Apple products but buy anyway.
A bit like the interest-free period on credit cards.
To Latitude he is the product.
Interest free purchase in exchange for a card holder/customer
I have the Apple specific Credit line card. Only flat $4.95 monthly account service fees when you have a balance. No annual fees.
That's great to hear. Can you make repayments of as high as you want?
Yes, your bill will show minimum that you need to pay so that you won't incur/or pay the entire interest free balance at the end of the term but more than welcome to pay more.
That's great to hear. Can you make repayments of as high as you want?
Yes. You can pay it off earlier and as high as you want.
My 2017 iMac has been almost paid off and I am planning to get a MacBook this year.
Apple interest free experience
I can confirm that I have no interest in Apple. :)
I am free of interest in Apple products.
Did you read the terms on their website? There are no hidden fees, they are all disclosed in the terms and conditions on the Apple website.