I’m currently a student who’s unemployed, but since I help my parents’ small business on the side, they transfer me some bonuses. Would these bonuses be considered “income” for eligibility information purposes? Additionally, I have a personal credit card with a good credit score. Even if I don’t have an “income,” I still make my credit card payments. Would this still affect my eligibility if I entered 0 for income? Does it matter?
You have a few other options as well when buying the phone through Apple:
iPhone Payments - this is a 24 month, 0% APR financing agreement through Citizens One bank. This is just like the iPhone Upgrade Program, only without the 12 month upgrade eligibility, and AppleCare+ is not included in the monthly cost (but can be purchased separately as either a monthly or annual subscription).
Apple Card Monthly Installments - sounds like you’re already aware of this option. It’s also 24 months at 0% APR, and you also get 3% cash back just like any other transactions at Apple. If you already had the card, then I’d say this would be a better option since you just have to apply for the card itself, and don’t have to apply separately for the installments. If you don’t already have one, it still may not hurt to apply, as it will not run a credit check unless you are approved and accept the card.
AT&T Financing - this is a 36 month 0% APR offer, and would be billed through AT&T. However I know you don’t want to be committed to them, and this would mean that the phone is locked to AT&T until paid off. However, if you have an eligible unlimited 5G data plan, and were also planning to trade in your old iPhone (assuming it’s within a few years old), then they have a great promotion which would give you up to $1000 in trade-in credit in the form of credits on your monthly bill over the duration of the financing term.
Also note that all of these options will require that the new phone be activated with AT&T, but only the AT&T financing option would mean the phone is locked to them. Otherwise, your phone will be unlocked even if it’s initially activated with AT&T.
You have a few other options as well when buying the phone through Apple:
iPhone Payments - this is a 24 month, 0% APR financing agreement through Citizens One bank. This is just like the iPhone Upgrade Program, only without the 12 month upgrade eligibility, and AppleCare+ is not included in the monthly cost (but can be purchased separately as either a monthly or annual subscription).
Apple Card Monthly Installments - sounds like you’re already aware of this option. It’s also 24 months at 0% APR, and you also get 3% cash back just like any other transactions at Apple. If you already had the card, then I’d say this would be a better option since you just have to apply for the card itself, and don’t have to apply separately for the installments. If you don’t already have one, it still may not hurt to apply, as it will not run a credit check unless you are approved and accept the card.
AT&T Financing - this is a 36 month 0% APR offer, and would be billed through AT&T. However I know you don’t want to be committed to them, and this would mean that the phone is locked to AT&T until paid off. However, if you have an eligible unlimited 5G data plan, and were also planning to trade in your old iPhone (assuming it’s within a few years old), then they have a great promotion which would give you up to $1000 in trade-in credit in the form of credits on your monthly bill over the duration of the financing term.
Also note that all of these options will require that the new phone be activated with AT&T, but only the AT&T financing option would mean the phone is locked to them. Otherwise, your phone will be unlocked even if it’s initially activated with AT&T.
You will be asked for your income and also how much you pay for monthly rent, if applicable. I hesitate to give financial advice, but if it were me, I’d say that since you are receiving money for providing a service (helping with the business), that should count as income.
Also, do you have AT&T, Verizon, T-Mobile or Boost Mobile? Activation on one of these carriers is required for the iPhone Upgrade Program.
Do your parents have a business account with Apple for their small business? It’s free to sign up. I bring this up because depending on the circumstances, there are additional financing/leasing options available through the business team. See Business - Apple to learn more.
sounds good then! we are with att on a family plan. my current phone is paid off and i just want to find options to finance a new phone myself with my credit/debit card without committing to Att. i know that the apple card is an option but not sure if i want to go that route.
we do not have a business account with apple
Apple Upgrade Program - eligibility and other
