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Apple discontinuing Apple Card financing for phones without carrier connection (9to5mac.com)

submitted 2 years ago by FiendishFork to c/apple_enthusiast

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[–] [email protected] 9 points 2 years ago (1 children)

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.

[–] CosmicRift 2 points 2 years ago

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