Apple Card monthly installments can not be paid off early individually..

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Level 1

15 points

Apple Card monthly installments can not be paid off early individually..

I have multiple Monthly installment plans on Apple Card. I wanted to pay one off early because it's the highest payment but I cannot do it !! Every early payment ONLY goes to OLDEST Balance of all you monthly Plans.. you cannot pay off a particular monthly plan!! Let's say you bought a MacBook Pro for $3000 on month plan for $250/mo.. later you bought an iPad Air $599 on Monthly Plan for $49/mo, now you pay $300/mo for both.. You decide to pay off the iPad to get rid of the $49 payment.. YOU CAN'T DO IT!!! If you try to pay off the iPad for $599 they apply the payment to your oldest Balance ( the Macbook Pro) and you will keep paying the $49/mo !!! Apple needs to Make this clear when using Monthly payment plans on Purchase or CHANGE THIS!! You can NEVER pay off an individual Monthly plan !!!!

Anyone else have a way to do this? It makes the pay early option useless on each plan !!

MacBook Pro (M3 Pro, 2023)

Posted on May 19, 2024 3:33 PM

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Answer 1

Jeff Donald

Level 8

44,472 points

May 19, 2024 5:48 PM in response to bimmerdude

Each installment plan is separate which is exactly what you agreed to. The plan follows a basic economic principle, FIFO, First In, First Out. First plan you agreed to will be first plan paid off. You may not like it, I get it, but it’s what you agreed to. Good luck with your complaint.

[Edited by Moderator]

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Answer 2

Jeff Donald

Level 8

44,472 points

May 19, 2024 4:25 PM in response to bimmerdude

Sorry for the confusion and I can certainly understand your frustration. The procedures for Apple Card Monthly Installments (ACMI) are covered in this Apple Support article,

How to view and pay Apple Card Monthly Installments - Apple Support

and also covered in the Terms and Conditions.

https://www.goldmansachs.com/terms-and-conditions/Apple-Card-Customer-Agreement.pdf

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Answer 3

bimmerdude Author

Level 1

15 points

May 19, 2024 4:57 PM in response to bimmerdude

Why do they bill the individual balances monthly until paid off and apply the monthly payment to individual balances but they cannot do this when making extra payments? They are keeping track of the balance on each Installment account.. The accounts are Zero interest.. this is the word that can't be written here.. I am contacting the Consume Protection agency in relation too this issue.. its weird and can't be exclaimed away with a SIRI search of Web links..

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Apple Card monthly installments can not be paid off early individually..

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