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IIRC, the installment each month hits your card like any other charge. So maybe if you let it become part of your revolving balance at that point, you'll pay i
by rootusrootus 2y ago
IIRC, the installment each month hits your card like any other charge. So maybe if you let it become part of your revolving balance at that point, you'll pay interest.
It's been a while since I bought an Apple device that way, but I do think that's how it showed up. I always pay my card off each month so I never got to find out if the installment would be subject to interest if I didn't immediately pay it.
- lcnPylGDnU4H9OF 2y ago> So maybe if you let it become part of your revolving balance at that point, you'll pay interest. Another interpretation is that the credit card balance is charged interest but the monthly payments, which are paid using the card, do not have interest applied. Which sounds accurate and not necessarily misleading, though there's an argument to be made given they market the card so heavily. I think the confusion stems from the situation of making monthly payments with a credit line that also expects monthly payments.
- rootusrootus 2y ago> making monthly payments with a credit line that also expects monthly payments I agree, that is very likely where the confusion comes from. It would probably be better if they kept the billing separate even when it's on the same statement. I hate to jump directly to assuming nefarious greedy corporation, but obscuring the monthly installment by paying it with the credit card does strike me as a deliberate choice. I guess CFPB agrees.
- ezfe 2y agoRight, it shows up as an installment plan when you checkout and each month a charge is put on your card to pay on the next statement cycle.