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March 16, 2020

Apple allows card users to defer March payment due to coronavirus

Tech giant Apple has said that card users can skip March payment without incurring interest charges in the wake of coronavirus (Covid-19) outbreak.

Recently, the iPhone maker informed its cardholders about a programme launched to temporarily eliminate interest payments.

The email read: “We understand that the rapidly-evolving COVID-19 situation poses unique challenges for everyone and some customers may have difficulty making their monthly payments.

“Apple Card is committed to helping you lead a healthier financial life. Should you need assistance, please click here to be connected to Apple Card Support via Messages and enroll in our Customer Assistance Program, which will allow you to skip your March payment without incurring interest chargers.”

The tech giant, which has also decided to shutter all of its retail stores outside of China through March 27, did not openly state any eligibility requirements. Hence, it is assumed that all Apple card customers are eligible.

The Covid-19 pandemic has so far killed more than 6,500 and infected more than 169,000 people around the world.

Apple launched the credit card in the US in August last year in alliance with Goldman Sachs.

The product leverages machine learning and Apple Maps to label transactions with merchant names and locations.

The interest rate charged on the card by Apple ranges from 12.99% to 23.99%, depending on the customer’s creditworthiness.

Recently, Mastercard closed its office located in the Brazilian city of Sao Paulo and an annex office in New York after one of its employees tested positive for coronavirus.

In the first week of this month, the World Health Organization (WHO) advised consumers to switch to contactless payments as banknotes may be aiding the spread of the deadly coronavirus.

Visit our Covid-19 microsite for the latest coronavirus news, analysis and updates

Follow the latest updates of the coronavirus (Covid-19) outbreak on our timeline.

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