There is no doubt that Apple has made a splash with their iPhone and iPad options. However, many people cannot afford to purchase any one of these items without special financing, which is where the Apple Barclaycard Financing Visa Card comes in.
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Credit cards are often given a bad rap, especially because of their high interest rates and penalty fees. However, the Barclaycard Financing Visa Card for Apple offers you the opportunity to pay off your debt without 0% interest, if you pay within a specified period of time.
Apple Barclaycard Financing Visa Card Overview
The Barclaycard Financing Visa allows you to apply for their credit card and receive your results instantly. It is not a rewards card, however, and there are no special benefits for shopping at Apple with the exception of the special financing options.
In this case, if you spend less than $999 on an Apple purchase, you will receive 0% APR for 6 months, giving you time to pay off your debt. If you spend more than $999, you will receive 0% APR for 12 months.
After the time period has expired and you haven’t paid off your debt, the interest will accrue on your debt from the original date of purchase for the original purchase price, not for what is left on your card. This is something you need to seriously consider before accepting this finance offer.
Although this card was designed specifically for this offer, you can use your Barclaycard anywhere Visa is accepted.
Apple Barclaycard Financing Visa Card Terms
The terms of this card are very important because, as you will see, the interest rate is rather high. Despite this, the Barclaycard is not a bad credit credit card.
The terms include:
- 22.99% variable APR for purchases and balance transfers
- 25.24% variable APR for cash advances
- 30.24% variable penalty APR – this applies if you make a late payment or go over your credit card limit on any Barclaycard that you own
- No annual fee
- $10 or 4% transaction fees, whichever is greater, for balance transfers and cash advances
Apple Barclaycard Financing Visa Card Bottom Line
While the financing offer might be tempting, this is not a good credit card to use for everyday purchases, the interest rate is far too high for someone who has good or better credit. In addition, the penalty APR will not be lifted even if you get your card current.
If you want to purchase an Apple product and are confident that you can pay it off before the special terms are up, this might be a great card to consider.
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