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.
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.
Pay in full is the way to go anyway
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.
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
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.
People say GS, but I feel like financing iPhones only makes up a tiny part of Apple Card lending.
