The COVID-19 outbreak is expected to have a toll on the global economy. In order to ease the financial burden, Apple and Goldman Sachs are allowing Apple Card users to defer April payments.
Apple Card users can skip April payment without having to incur interest. Thats not all, the deferred payments will not end up affecting your credit score. Last month, Goldman Sachs had offered a similar program that was accessible via the Wallet App.
The company says that Apple Card users who have deferred their payment in March can once again opt to defer payment without having to pay the interest. That being said, the users need to once again enroll themselves in the Customer Assistance Program by heading over to Support Portal.
Apple’s email to customers says “We understand that the COVID-19 situation poses unique challenges for everyone and some customers may have difficulty making their monthly payments. If you previously enrolled in the Customer Assistance Program in March, you will need to enroll again.”
Please note that Apple is not waiving off the payment on your Apple Card. The balance needs to be paid eventually. However, the moratorium will give you some breather and help get finances in place. This is especially true for business owners and professionals who have seen a drop in their income due to the COVID-19 pandemic.
Many in tech industries and financial institutions have come up with a program to help those impacted by a coronavirus. In the U.S. Trump administration has announced that they will be waiving off student loan waiver due to coronavirus. Meanwhile, banks in the UK are deferring mortgage and loan payment by as many as three months.[via Bloomberg]