With Apple Card rolling out to more users, we’ve learned additional details about things like cashback, approval odds, and more. Now, it seems that iPhone Upgrade Program payments fall into the 3% Apple Card cashback category, even though they aren’t billed through Apple.
As a quick refresher, you get 3% cashback on Apple Card purchases made through Apple. This includes things like the App Store and iTunes, Apple Music, hardware purchases, iCloud, and more. Apple Pay purchases from any retailer earn 2%, while everything else earns 1%.
Interestingly, it appears as if iPhone Upgrade Program monthly payments fall into that 3% category. Even though these loans are generally billed through Citizens One Bank, Apple Card counts the payments as an Apple purchase, and thus gives you 3% cashback.
Whether or not the iPhone Upgrade Program would count as an Apple purchase was one of the early questions we had about Apple Card. It’s nice to see that this is something Apple seemingly considered ahead of launch.
This means every time your monthly iPhone Upgrade Program payment is processed, you’ll get 3% cashback deposited onto your Apple Cash card. Apple Pay cashback is made available everyday through Apple Cash.
As Apple winds down its partnership with Barclaycard, there’s speculation that it might also soon offer special financing for Apple purchases through Apple Card. This would be a nice addition for Apple Card holders coming over from the long-running Barclaycard Apple rewards partnership.