Introducing the Apple Credit Card? Finally!

December 20, 2012 No Comments »
Introducing the Apple Credit Card? Finally!

First there was the Google credit card, and now there’s an Apple credit card?

Not so fast folks – this is more of a “what if” scenario. And one credit card comparison company had some fun with the idea in a recent infographic.

Their infographic is essentially a play on Apple’s many product launches, and if you didn’t know any better, you could easily fall for it hook, line, and sinker.

Oh, and you’d probably be scurrying to sign up for an Apple credit card in the process.

The iCard from Apple

iCard

So if this magical credit card actually existed, CreditCardCompare.com.au would envision it looking like the above.

And of course it would be called the “iCard” because Apple loves putting the letter “I” in front of everything they create and sell.

Additionally, the Apple credit card would be the “most amazing credit card yet.” Why? Because everything Apple does is always the best ever, most spectacularly amazing innovative, fill in the blank.

The Aussies got playful with the whole thing, going on to say that the iCard would fit perfectly in your Passbook for iPhone.

passbook

And that you could swipe and pay using your iPhone, or even tell Siri to pay your bills for you.

Oh, and if you happened to lose your iCard, you could locate it with the “Find My iCard” app, similar to the very real “Find My iPhone” app that is actually available to iPhone owners.

Spend $100, Get Tree Planted in Amazon

It gets even more ridiculous.

The infographic notes that for every $100 spent on Apple products using the Apple credit card, the green company will plant a tree on your behalf in the Amazon jungle.

apple financing

You can also take advantage of AppleCare+ for your iCard in case anything goes awry, similar to the warranty in place for Apple computers.

Finally, the mythical iCard comes with a $100 welcome bonus. You get $100 off your next purchase at an Apple Store or iTunes.

Speaking of numbers, Apple is super generous by offering a low, low credit card APR of 10% for purchases and 0% APR for balance transfers for a full 24 months.

Oh, and they wouldn’t dream of charging you an annual fee…

Ah, if only this were a reality, eh?

The Reality of Apple Financing

apple financing

While this was all fun and games, Apple actually is in the financing game, as has been for years.

If you visit their website, you’ll find a tab related to “Apple Financial Services,” which allows consumers to finance their Apple purchases.

After all, their computers don’t come cheap, so sometimes people need a little helping hand.

Apple currently offers the “Barclays Financing Visa Card” with the help of Barclays bank, and it’s very real.

Their approach is pretty simple. The more you spend, the longer you get 0% APR. but after the introductory APR period ends, it shoots up to a much higher 22.99%, which is variable and tied to the Prime Rate.

So no, Apple doesn’t offer rock bottom APR. It’s not egregious, but it’s not cheap either.

That said, you could finance your Apple purchase with a standard credit card instead, perhaps one that offers a longer intro-APR period and a lower APR once it ends.

Lastly, check out some of these old school Apple credit cards, which imply that Apple has been at the credit card game for decades.

apple_credit_card

(photo: Credit Card Graphics Comparison)

citiAppleCreditCard

(photo: RetroMacCast)

apple_credit

(photo: Ebay)

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