When paying with Apple Card installments, what happens to the available credit on my card? I chose monthly installments to buy an Apple Pencil and an iPad, but my card looks as if I’ve paid for the items in full.

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When paying with Apple Card installments, what happens to the available credit on my card? I chose monthly installments to buy an Apple Pencil and an iPad, but my card looks as if I’ve paid for the items in full.

When paying with Apple Card installments, what happens to the available credit on my card? I chose monthly installments to buy an Apple Pencil and an iPad, but my card looks as if I’ve paid for the items in full. If I’m paying in installments, shouldn’t just the amount it says I’ll be charged be charged on my card (i.e $100 due today) instead of the entire balance?

Posted on Oct 9, 2022 1:00 PM

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Answer 1

PanPan0318 Author

Level 1

4 points

Oct 9, 2022 1:16 PM in response to FoxFifth

I see. Then what is the benefit of paying in installments if the amount is already taken from my available balance AND I’m still paying in installments? The only reason why I chose the installments to begin with is because I thought I would pay the items off through the monthly payments while still having my balance available to me. If my balance is reduced and I still have payments, I should have simply paid in full to begin with.

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Answer 2

Oct 9, 2022 2:08 PM in response to PanPan0318

The benefit of Monthly Installments is that it is interest-free. If you use your available credit for something that isn't through Monthly Installments and don't pay in full when the first payment is due, you are charged interest (at. pretty high rate) for the balance. See: How to avoid or lower Apple Card interest charges - Apple Support

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Answer 3

Oct 9, 2022 1:06 PM in response to PanPan0318

The total amount of the purchase (i.e., the price of the items you bought) is what you owe, no matter whether you are paying with interest-free monthly installments or making payments for purchases where interest is charged. Your Available Balance is reduced by the full amount of the purchase in either case.

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When paying with Apple Card installments, what happens to the available credit on my card? I chose monthly installments to buy an Apple Pencil and an iPad, but my card looks as if I’ve paid for the items in full.

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