Apple Kicks Off New Credit Program

| News

Apple rolled out a new credit and financing program ahead of the holiday buying season. The new program includes a Barclaycard Visa card and up to 12 months same-as-cash financing.

The financing program includes two types of Visa cards. The Barclaycard Financing Visa card offers 12 months same-as-cash for the first Apple purchase over US$900, or six months 0% financing for the first Apple purchase less than $900.

The Barclaycard with iTunes Rewards earns users two iTunes points for every dollar spent at an Apple retail store or the Apple online store, or one point for all other purchases. Users also get a $25 iTunes gift card when they reach 2,500 points, and an additional 1,000 points with their second purchase.

Apple's timing for the launch of the new Barclaycard financing program coincides with the holiday buying season, and the iTunes Rewards card could help increase customer loyalty at the iTunes Store. Both will likely draw more potential customers into Apple's stores during the holiday season.

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This is actually a worse deal than what was previously available. When I bought my Nehalem Mac Pro I got 12 months 0 percent AND the iTunes points. They sent me $50 in iTunes gift cards immediately, even before I had made a single payment. Guess they figured out the error of their ways and split the deal into two cards. Bummer!

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