Coronavirus

Apple Card Holders Can Postpone April Payments

Apple Card Holders Can Postpone April Payments

For the second consecutive month, Apple Inc. will allow its Apple Card users to defer April payments without interest or penalties to ease financial pressures of the COVID-19 pandemic.

Bloomberg reported that the credit card, backed by the Goldman Sachs Group Inc., had offered the same program for March payments.

The only requirement is that Apple Card users must opt into the program by messaging a support representative via the Wallet app on an Apple device.

“We understand that the COVID-19 situation poses unique challenges for everyone, and some customers may have difficulty making their monthly payments,” Apple wrote in an email to card customers. “If you previously enrolled in the Customer Assistance Program in March, you will need to enroll again.”

 

Last month, Apple said it would close all of its stores outside of Greater China until March 27 to safeguard against the global spread of the coronavirus, but a posting on the company’s website said stores are closed until further notice.

“We are committed to providing exceptional service to our customers,” the announcement said. “Our online stores are open at www.apple.com, or you can download the Apple Store app on the App Store. For service and support, customers can visit support.apple.com. I want to thank our extraordinary retail teams for their dedication to enriching our customers’ lives. We are all so grateful to you.”

The Apple Card was launched last summer. In November, Bloomberg that reported Goldman Sachs said they provided $10 billion in credit lines in just over a month for the Apple-branded credit card. 

 

Apple Card‌ customers had $736 million in loan balances at the end of September. It’s not clear how that compares with other credit cards, as Bloomberg said banks do not break out performance by individual cards.

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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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