Apple Card’s Deferred Payment Program Limited to Six Months of Enrollment in 2020

Apple Card's Deferred Payment Program Limited to Six Months of Enrollment in 2020

Looking at the financial troubles that people are facing due to the COVID-19 pandemic, Apple and its financial partner for Apple Card, Goldman Sachs, had introduced the COVID-19 Customer Assistance Program in March. This program allowed users of Apple Card to skip their monthly payment for March, without incurring interest charges. People who wanted to enroll in this program had to opt for it manually.

 

Apple and Goldman Sachs extended the Customer Assistance Program for April, May, June, July, and August, allowing the users of Apple Card to skip their monthly payment for six consecutive months, offering huge relief to those who are going through financial troubles. However, users of Apple Card who intended to use the Customer Assistance Program even after the month of March had to re-enroll into the program every month.

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Today, Goldman Sachs has suggested that the company is planning to offer the customers of Apple Card to enroll in the Customer Assistance Program six times in 2020, according to a new report from MacRumors. Goldman Sachs says that this step is “consistent with current regulatory guidelines” in the United States. So, for customers of Apple Card, who have been enrolling in the Customer Assistance Program since March, August will be the sixth and the last month that they can enroll in the program.

According to the report, customers can change their enrollment status for the month of August at any time before 31st August. This way, they can save their sixth enrollment into the program for a later month in 2020. If they opt-out of the Customer Assistance Program before 31st August, their next payment would be at the end of the month. Commenting on the issue, Goldman Sachs said “We know this is a difficult time for many and our thoughts are with you.”

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Author: Uwem Usen

I'm a passionate technological blogger. The administrator of Mumutechnology (technology solution blog), prolific speaker at both local and international forums. My mission is to provide a technological solutions to the world.

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