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Apple held its quarterly earnings call on Wednesday — revenue and earnings are up a little, services are doing great, iPhone sales are on the decline — and as part of it, the company CEO Tim Cook gave an interesting update regarding Apple Card.
Users of Apple’s fancy credit card will be able to buy an iPhone with the card and pay it off through 24 monthly installments with zero interest and no fees. They’ll also get three percent cash back on that purchase, and be able to manage payments in the Wallet app.
Apple already offers iPhone financing through the iPhone Upgrade Program, also with 24-month financing and zero interest. It’s a little different as it includes AppleCare and lets customers get a new iPhone each year.
Cook didn’t give a specific date for this new option, but he said it is coming this year.
Apple’s chief also praised the Apple Card launch for being the “most successful launch of a credit card in the United States, ever.” The posh titanium card offers good cash back rewards, no annual fees, and an overwhelming urge to buy more Apple products and services.