racheln723
Level 1 (4 points)
iPhone

Q: Citizens Loan

I just preordered the new iPhone 7 and selected the monthly payments. I didn't realize that this payment plan is in fact a loan. I have two questions:

  1. Can I pay off in lump sums if I so choose?
  2. Can I pay off part of the "loan" with an Apple gift card?

 

Thank you for your help!

Posted on Sep 9, 2016 10:50 AM

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racheln723

Q: Citizens Loan

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  • by deggie,

    deggie deggie Sep 9, 2016 10:57 AM in response to racheln723
    Level 9 (54,471 points)
    Sep 9, 2016 10:57 AM in response to racheln723

    Yes and I believe No. But you need to contact the online Apple Store directly for a definite answer on the second question.

  • by KiltedTim,

    KiltedTim KiltedTim Sep 9, 2016 11:18 AM in response to racheln723
    Level 9 (55,083 points)
    iPhone
    Sep 9, 2016 11:18 AM in response to racheln723

    1. Read the terms of the loan.

    2. No. You are not receiving the financing from Apple. The bank won't accept gift cards as payment.

  • by anilsudhakaran,

    anilsudhakaran anilsudhakaran Sep 9, 2016 11:47 AM in response to racheln723
    Level 4 (1,518 points)
    Sep 9, 2016 11:47 AM in response to racheln723

    There is no way to pay off the loan, in lump sums, online. You probably need to call them I think. Apple could not have chosen a more pathetic bank to partner with. Also you will regret your decision to buy using the iPhone upgrade program, when it's time to upgrade next year. The entire upgrade process is pathetic to say the least. I hope the person who came up with that plan loses their job today.