Apple ends its partnership with Barclays credit card before launching new devices
According to reports, Apple Inc. ended its long-term credit card partnership with Barclays Plc on Tuesday, a move designed to focus attention on Apple’s own Apple card product financing plan.
Apple told retail employees in a memo that starting from Tuesday, customers will no longer have the option to apply for a credit card in retail stores or through Apple’s official website, but existing cardholders can continue to use the card as a normal credit card.
The financing agreement between Barclaycard and Visa allows customers to purchase Apple products without interest. The length of time for interest-free purchases depends on how much money they spend. For example, if a user spends less than US$499 when buying an Apple product, they will get 6 months of interest-free payment time. If they spend more than $999, they will get 18 months of interest-free payment.
Barclays representatives did not immediately comment, and Apple did not immediately respond to a request for comment.
In August 2019, Apple chose Goldman Sachs Group Inc. as its banking partner to launch Apple Card in the United States, after which the partnership between Apple and Barclays began to weaken. In the same month, Apple and Barclays terminated the reward program. The plan stipulates that users can get 3 points for every $1 when purchasing Apple products, and they can also receive gift card bonuses.
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