Last week, Apple introduced users to Apple Pay. divide the cost of one purchase into four equal payments over six weeks, without interest or fees. Apple Pay Later will be available wherever Apple Pay is accepted, i.e. in stores, as well as apps or websites.
Behind the loans we will find not a bank, as is usually the case, but Apple itself. In the effect, is a subsidiary of Apple Financing LLC, which will be involved in providing credit services to consumers.however, it seems that the American giant is not ready to lend very large sums.
You won’t be able to buy iPhone 13 Pro Max with Apple Pay anymore
The Wall Street Journal reports that Apple will set a maximum credit limit per transaction: $1,000. To prevent fraud, Apple uses your Apple ID information. Therefore, this limit must be fixed.and won’t be increased even if your credit score is good or you don’t have any payment history or issues with your Apple ID.
“ Pay-per-transaction plans will be capped at $1,000, and the amount consumers will be approved for will depend on their credit reports and scores. Those affected said that Apple will also consider its own information about millions of customers to prevent authentication and fraud. Applicants with a long-standing Apple ID and no signs of fraud are more likely to be approved. “.
this should be notedThis is why Apple won’t let consumers buy the iPhone 13 Pro MaxThe top model of the series. As a matter of fact, the smartphone was marketed at $1099 in America. Consumers who want to pay for their phone in installments will therefore have to settle for $999 with the 13 Pro model. We also know that the prices of the next iPhone 14 models may increase, thus automatically excluding all Pro models.
Source : wall street diary
