1. joe_m_p's Avatar
    Can I go into an Apple store and purchase an iPhone under their 24 month installment plan regardless of my upgrade status with my carrier (Verizon)?

    Also, can I just have them debit my bank account each month or am I signing up for a credit account?
    10-08-2015 12:38 PM
  2. Aaron Starr's Avatar
    I went into a Apple store recently to get more info on the Upgrade Program and here's what i was told:

    Pretty much You'll be financing a phone thru a bank that Apple has a agreement with. You'll get approve based off your credit. After that monthly payments will be automatically withdrawn from a credit card. not debit card. a debit card can not be used to purchase a device using the upgrade program. Monthly payments range from $21-$31 depending on the device and size you choose (i was asking for the 6s plus)

    The phone will not be tied to a Next or installment plan on your carrier. It will pretty much be like you bringing your own phone to the carrier or buying one at full retail price. which is what you doing in the end.

    So long story short you will be able to get the device regardless of a upgrade or not. But you can't use a debit card.
    10-08-2015 01:11 PM
  3. joe_m_p's Avatar
    Thanks so much! I tried looking for that info everywhere but couldn't find it. Thanks again.
    10-08-2015 01:13 PM
  4. Just_Me_D's Avatar
    I went into a Apple store recently to get more info on the Upgrade Program and here's what i was told:

    Pretty much You'll be financing a phone thru a bank that Apple has a agreement with. You'll get approve based off your credit. After that monthly payments will be automatically withdrawn from a credit card. not debit card. a debit card can not be used to purchase a device using the upgrade program. Monthly payments range from $21-$31 depending on the device and size you choose (i was asking for the 6s plus)

    The phone will not be tied to a Next or installment plan on your carrier. It will pretty much be like you bringing your own phone to the carrier or buying one at full retail price. which is what you doing in the end.

    So long story short you will be able to get the device regardless of a upgrade or not. But you can't use a debit card.
    This information will be quite helpful to a good deal of people. Thank you for sharing your experience with us...
    10-08-2015 01:23 PM
  5. jayk82's Avatar
    How about if you are on a business plan with a carrier? Would it still be as simple as putting your old sim in the new phone??


    Sent from my  iPad Air 2 using Tapatalk
    10-08-2015 01:33 PM
  6. pjs37's Avatar
    They need to access your phone account stuff through the carrier services so as long as you are the account holder I don't think it would be an issue but I don't know for sure.
    10-08-2015 03:34 PM
  7. jayk82's Avatar
    Being that I'm in a business account, I'm not the account holder. I was thinking it would be too simple to just show up, get approved, pop in my SIM card & go.


    Sent from my  iPad Air 2 using Tapatalk
    10-08-2015 03:46 PM
  8. Rob Phillips's Avatar
    Since we are on the subject, the upgrade plan also works if you are switching carriers and breaking a contract with your existing carrier in the process. I was with Sprint and effectively switched to Verizon when I picked up our new phones on launch day. Just received a nice hefty bill from Sprint but it worked like a charm. The Apple Store couldn't have cared less what my contract status was when they ported over my numbers.
    jayk82 likes this.
    10-08-2015 03:58 PM
  9. rbonnerjr's Avatar
    I went into a Apple store recently to get more info on the Upgrade Program and here's what i was told:

    Pretty much You'll be financing a phone thru a bank that Apple has a agreement with. You'll get approve based off your credit. After that monthly payments will be automatically withdrawn from a credit card. not debit card. a debit card can not be used to purchase a device using the upgrade program. Monthly payments range from $21-$31 depending on the device and size you choose (i was asking for the 6s plus)

    The phone will not be tied to a Next or installment plan on your carrier. It will pretty much be like you bringing your own phone to the carrier or buying one at full retail price. which is what you doing in the end.

    So long story short you will be able to get the device regardless of a upgrade or not. But you can't use a debit card.
    Thanks!!!!!
    10-09-2015 08:19 PM
  10. Rob Phillips's Avatar
    I went into a Apple store recently to get more info on the Upgrade Program and here's what i was told:

    Pretty much You'll be financing a phone thru a bank that Apple has a agreement with. You'll get approve based off your credit. After that monthly payments will be automatically withdrawn from a credit card. not debit card. a debit card can not be used to purchase a device using the upgrade program. Monthly payments range from $21-$31 depending on the device and size you choose (i was asking for the 6s plus)

    The phone will not be tied to a Next or installment plan on your carrier. It will pretty much be like you bringing your own phone to the carrier or buying one at full retail price. which is what you doing in the end.

    So long story short you will be able to get the device regardless of a upgrade or not. But you can't use a debit card.
    Monthly payments can definitely exceed $31 a month. A 128GB 6s Plus is just short of $45 a month. Also, you can go online with Citizens and have future payments taken from a debit card or bank account of you wish. Only the initial purchase and payment need be with a credit card.


    Sent from my iPhone 6s Plus using Tapatalk
    fadedlogic likes this.
    10-09-2015 09:11 PM
  11. anon(9655636)'s Avatar
    Just some friendly advice. There are actually two different types of installment plans available through Apple, both of which are financed through Citizens One Loan, and both of which are only available for the iPhone 6S and 6S Plus.

    The first 24-month installment plan is the Apple Upgrade Program. You agree to a credit check and, if approved, you pay the first month's installment payment, sales tax, and a stamp fee on the phone with a credit card. Stamp fee is like $0.50 for every $100 you spend. All subsequent payments are then automatically deducted from the credit card used at the time of phone purchase for future monthly payments. There is 0% interest on the loan. The Apple Upgrade Program automatically includes Apple Care+. There is no opting out. They tack on another $129.00 for it and include it in the financing. Also the credit card you use to purchase the phone must have at least three months of your monthly installment amount available at the time of purchase. So if your monthly installment is $40, you would need $120 of available credit on your credit card. You have to use the same credit card for everything. There is also no pre-payment penalty, in the event you decide to pay the phone off and keep it, instead of upgrading to a new phone the following year after 12 months of payments.

    Example: (out the door)
    IPhone 6S Plus 64 GB $849.00

    First month's payment $40.75 (this includes the Apple Care+)
    Applicable sales tax for your state on full retail price of phone
    Stamp fee (roughly $5.00)

    Subsequent monthly payments would be $40.75.

    The second installment plan is similar to the Apple Upgrade Program, but you have the option of adding Apple Care+ or declining it. You essentially are just straight financing through this plan for a 24-month period. At the end of 24 months the phone is yours. You can't use this plan to upgrade to a new phone each year.

    Check with your carrier. On Verizon, there is neither an upgrade fee or an activation fee if you opt for either of the two installment plans above. There is the usual 14-day return period on both plans.

    I hope this additional information helps, along with the other great information that has already been provided.
    10-10-2015 06:45 AM
  12. C6TX6's Avatar
    This was my experience. On the day preorders were available I noticed on apple.com that availability for my device (Verizon 6s+ space grey 128GB) was quite limited. The store in Atlantic City had them. Actually after I reserved mine they did not show availability for another so I must have snagged the last one!

    The requirements are on the website. State issued ID (DL), passport, etc. And a major credit card. They will do a credit check and it will show a hard pull on your credit just as if you were buying a car, applying for a credit card, etc. So do be prepared for that. I did hear stories that early arrivers were getting declined despite having excellent (FICO 750+) scores. This turned out to be an issue with the bank not having enough resources to process all these applications at once and was fixed later. (I did not have any issues at 12:30PM) but I feel sorry for those that got turned away. My backup plan (since I drove nearly 200 miles!) was to either buy at full price with a CC OR use Edge since I have eligible lines. But the Apple Upgrade program works better for me since I prefer to get a new phone every year and not worry about paying off devices and selling them on Swappa, etc.

    In any case I DID have to provide them with my Verizon passcode and four last of my SSN. The credit check requires full SSN obviously. And there's a lot of clicking "I agree" buttons on their little portable point of sale terminals too. The whole process takes maybe five minutes. It was in and out for me because I walked out with a sealed phone. The number I used was on my Note 5 that I had with me and I noticed when I left the store it had an activation message on it meaning its SIM was no longer active. One thing I did notice when I finally did open the box (back in my car at the Caesar's garage) is when I turned on the phone I got the dreaded invalid sim card on the device! I thought Nooooo! I did not want to go back to the Apple store (although the line was ridiculously short for opening day!). I had my 5S with me which is on ATT so I popped its sim in and it worked. Had connectivity immediately, activated and entered itunes info and was good to go. I switched back the original SIM card the phone came with and it came up immediately with VZW, full LTE, etc. Weird, have no idea what was going on.

    My CC also showed a hold for $120 and change. It went away after a day. Then another hold which became a charge showed up a few days later. This is the first monthly installment plus the sales tax. The sales tax at Atlantic City is 7% where back home it's 6%. So in theory this cost me 1% more plus me driving with tolls, etc. A trip to the boardwalk and taking the day off is worth it! Plus I have a desired phone on release day! Supply on these is tight!

    So unlike carrier financing plans where they make you pay sales tax up front, this one requires no cash payment or credit card payment up front. The original hold I suppose it just to make sure your card is good. It's an unsecured loan, the phone is unlocked and I'm pretty sure (unlike carrier EIPs) if defaulted on the IMEI isn't blacklisted, etc. The balance would just go to collections like any other unpaid debt. I do like how they deduct it from the card automatically so I get some points on it. I'm just glad it isn't like the old days of buying a car where you would be sent a payment book and have to write a check every month! LOL

    So after having this phone over the weekend and my wife was playing with it (she had a 6+ and switched to a 6), she decided she wanted to go the same route I did but get the rose gold instead. I hit istocknow.com/live and was watching it like a hawk. Score on Monday (28th), Apple store at Tyson's Corner, VA. Much closer drive. I did the reservation and noticed that you can only reserve it that day! I picked a late time (8:30-9:00) and we headed out after dinner. Got there a few min early and there was a pretty good line, perhaps 40 people. Checked in with a reservation, walked out with the phone in about 10 min. Tax was a bit cheaper than NJ, everything else the same.

    Interestingly enough hers worked right out of the box, no sim swapping needed. In minutes were were up online and driving home with Monday Night Football playing courtesy of Verizon NFL pass. I wish that did not count against our monthly data caps but that's another topic altogether!

    Now, next year when iphone 7 preorders open I guess we'll do the same with reserving and bring our phones in to the store. From what I'm told they will check your device, make sure no personal info is on it, shows normal wear and tear (cracks, dents, etc. may require an AppleCare incident to resolve) and they trade it in, pay off the installment loan and a new one is opened to start the process all over again. Since I haven't experienced this first hand and don't have a time machine to try it now, it may be different but it's probably a safe bet that's how it will go down.

    I can't imagine them scrapping it altogether but you never know.

    And it looks like the carriers are starting to respond to this program now. As if they had a choice. I'm surprised that VZW has actually responded to this before ATT! Of course VZW's Edge isn't as attractive to early out people as it used to be as buyouts require the full balance. ATT would let you pay off less and give them the device back for an upgrade. Still not as attractive as Apple Upgrade Program. Two years of Applecare is cheaper than most carrier insurance programs. Verizon's $11/mo. plan covers lost/stolen devices as well. It's really whatever works for you. I've never bought it in the past. But after spending $329 plus tax to get a 6+ replaced that was filled with oil, I think having AC+ makes sense!

    Now when upgrading every year you are in fact losing half the AC+ that was bought. Or do they apply that to the new device you're upgrading to (if no claims are made?). These are questions I don't have answers to. But TBH, I really don't care, it's "the cost of doing business" as they say and a plan that lets me have a new phone every year, on release day, without camping out and other nonsense, works for me. I just have that payment of ~ $45/month for the convenience.
    10-10-2015 08:12 AM
  13. Rob Phillips's Avatar
    Now when upgrading every year you are in fact losing half the AC+ that was bought. Or do they apply that to the new device you're upgrading to (if no claims are made?). These are questions I don't have answers to. But TBH, I really don't care, it's "the cost of doing business" as they say and a plan that lets me have a new phone every year, on release day, without camping out and other nonsense, works for me. I just have that payment of ~ $45/month for the convenience.
    The $129 price of AppleCare+ is amortized over the 24 month payment plan, so if you trade your phone in after a year you've essentially only paid in about $65.

    Also, once I received my first statements from Citizens One and knew my account numbers, I was very easily able to set up an online account with them and change my payment info to my checking account versus the credit card that I used to get the phones.
    Last edited by DevilishBanker; 10-10-2015 at 10:16 AM.
    10-10-2015 09:55 AM
  14. C6TX6's Avatar
    Never thought about creating a management account.
    Would come in handy if I needed to switch CC, etc.
    I prefer to keep it on my AMEX. Anything to help with those points.
    Those points paid for my SS Apple Watch!
    10-10-2015 05:42 PM
  15. WildCatStud333's Avatar
    I'm going to take advantage of this program as soon as my local Apple Store gets some in stock
    10-10-2015 07:09 PM
  16. oldmanjenkins's Avatar
    Does anyone know if they are still having approval issues? I've been reading hit or miss still within the last week or so online.
    10-21-2015 10:45 AM
  17. Collins521's Avatar
    I didn't have any issues with my 6s when I got it or when I returned it last week and got the 6s Plus

    FYI, if you happen to return a device that was on the Upgrade Program within the 14 days, you will be ran again like a new customer so there is a potential of it declining you after it approved you the first time if your credit was at a low enough score that it's questionable for the bank.

    When talking with the Apple rep he said he only saw issues with people having the extra fraud protection on their credit cards that caused the Upgrade Program to be denied
    10-21-2015 11:29 AM
  18. Rob Phillips's Avatar
    Does anyone know if they are still having approval issues? I've been reading hit or miss still within the last week or so online.
    Hello! It's always going to be hit or miss as some people are less creditworthy than others. From what I've read, the approval issues for creditworthy applicants that took place on launch day were due to system overloads. I think those issues have been resolved by now. Even on launch day there were people who were able to get approved a few minutes after they had been initially declined. Nonetheless it's nerve racking. I was approved with no issue on launch day but my parents, who have stellar credit, were declined a half hour later.
    10-21-2015 11:47 AM
  19. oldmanjenkins's Avatar
    Hello! It's always going to be hit or miss as some people are less creditworthy than others. From what I've read, the approval issues for creditworthy applicants that took place on launch day were due to system overloads. I think those issues have been resolved by now. Even on launch day there were people who were able to get approved a few minutes after they had been initially declined. Nonetheless it's nerve racking. I was approved with no issue on launch day but my parents, who have stellar credit, were declined a half hour later.
    Hello. It worked well for me. Was out of there in 25 minutes
    10-21-2015 07:23 PM
  20. metacuate's Avatar

    The requirements are on the website. State issued ID (DL), passport, etc. And a major credit card. They will do a credit check and it will show a hard pull on your credit just as if you were buying a car, applying for a credit card, etc. So do be prepared for that. I did hear stories that early arrivers were getting declined despite having excellent (FICO 750+) scores .
    I had a soft pull, not hard pull, and only on Experian, from Citizens. A soft pull does not affect credit, whereas a hard pull would. Who told you a hard pull? Even the Apple Store stated it was a soft pull. I opened a tmo account the same day, and tmo showed up as a Hard pull. I returned my phone and exchanged it for a different color, they reran my credit, and it showed as another soft pull, only on Experian again.
    ladyc0524 likes this.
    10-22-2015 03:02 AM
  21. metacuate's Avatar
    Just some friendly advice. There are actually two different types of installment plans available through Apple, both of which are financed through Citizens One Loan, and both of which are only available for the iPhone 6S and 6S Plus.

    The first 24-month installment plan is the Apple Upgrade Program. You agree to a credit check and, if approved, you pay the first month's installment payment, sales tax, and a stamp fee on the phone with a credit card. Stamp fee is like $0.50 for every $100 you spend.

    Example: (out the door)
    IPhone 6S Plus 64 GB $849.00

    First month's payment $40.75 (this includes the Apple Care+)
    Applicable sales tax for your state on full retail price of phone
    Stamp fee (roughly $5.00)

    Subsequent monthly payments would be $40.75.
    No stamp fee on my receipt here in Indiana, only tax, AC+ and device.
    10-22-2015 03:05 AM
  22. joe_m_p's Avatar
    So glad I didn't go this route only because I didn't want a hard inquiry on my credit report. I ended up paying off one of my Edge Agreements (about $100) with Verizon and picked up a 64 GB Space Gray 6s. After using a Nexus 6 (same size as 6 Plus except with a 6" screen) I don't mind having a smaller phone.
    10-23-2015 02:33 PM
  23. Collins521's Avatar
    I've had it twice on my credit due to the return and it's not a hard pull, only a soft.
    10-24-2015 11:12 AM
  24. C6TX6's Avatar
    I had a soft pull, not hard pull, and only on Experian, from Citizens. A soft pull does not affect credit, whereas a hard pull would. Who told you a hard pull? Even the Apple Store stated it was a soft pull. I opened a tmo account the same day, and tmo showed up as a Hard pull. I returned my phone and exchanged it for a different color, they reran my credit, and it showed as another soft pull, only on Experian again.
    You are correct. I get alerted within 24 hours if there are any hard pulls and there were none for both phones purchased. Back in April when we tried TMO (big mistake!) that showed as a hard pull. Ridiculous as all we were doing was getting service (I bought the S6 Edge and paid up front). And (of course) I was one of the ones that received a letter from Experian about the breach that affected millions that applied for TMO service in the past two years. I will be signing up for the two years of ID theft protection on them, however.
    10-24-2015 04:21 PM
  25. metacuate's Avatar
    So glad I didn't go this route only because I didn't want a hard inquiry on my credit report. I ended up paying off one of my Edge Agreements (about $100) with Verizon and picked up a 64 GB Space Gray 6s. After using a Nexus 6 (same size as 6 Plus except with a 6" screen) I don't mind having a smaller phone.
    There's no hard pull.
    10-25-2015 01:46 AM
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