Apple Card Disaster Relief Program eases financial burden in times of crisis

Apple is now offering a disaster relief program for the Apple Card, which halts interest and delays one payment to those who apply.

The emails likely get sent out Apple Card cardholders whose address matches an area that has been affected by a natural disaster. Disasters would likely include flooding, earthquakes, wild fires, hurricanes, and more.

Houston has recently experienced flooding due to tropical storm Imelda. Following the inclement weather and resultant flooding, a MacRumors reader received an email invitation to apply for the Apple Card Disaster Relief Program.

The email details the benefits of the program, most notably a two-month interest-free period and the ability to skip payments for the first month that a person enrolls.

No interest for two months, starting with the month you enroll. After two months, your standard purchase APR will apply.
You can skip the payment due in the month you enroll.
If your account is in good standing, you will remain current while enrolled.
If your account is past due, your account will not go further delinquent while enrolled. However, your account will remain paste due until you make all of your past due payments and your ability to make new purchases may continue to be restricted.

According to the email, those who may wish to apply for the Apple Card Disaster Relief Program should contact an Apple Card specialist after receiving the email.

20 Comments

cogitodexter 13 Years · 196 comments

About 5 years ago

I'm in the UK and I've never heard of anything like this before - and I don't know if this is something that is offered by other providers in the US, but regardless, this seems like a fantastic commitment to the needs and welfare of the customer and more than likely to prompt good customer loyalty. Definitely a 'one good turn' sort of thing. I'm very impressed.

fluffhead 8 Years · 55 comments

cogitodexter said:

I'm in the UK and I've never heard of anything like this before - and I don't know if this is something that is offered by other providers in the US, but regardless, this seems like a fantastic commitment to the needs and welfare of the customer and more than likely to prompt good customer loyalty. Definitely a 'one good turn' sort of thing. I'm very impressed.

This is pretty common from a financial services platform. Many banks (regional and national) offer things like waiving atm fees, no overdraft fees, delaying any type of line of credit payment (credit card, mortgage, etc.) Good that Goldman Sachs made that happen.

razorpit 17 Years · 1793 comments

While a nice gesture I believe just about every major card out there offers something similar. What they don’t tell you is the interest collected from everyone else will more than make up for whoever is enrolled in this program.

gatorguy 13 Years · 24630 comments

cogitodexter said:

I'm in the UK and I've never heard of anything like this before - and I don't know if this is something that is offered by other providers in the US, but regardless, this seems like a fantastic commitment to the needs and welfare of the customer and more than likely to prompt good customer loyalty. Definitely a 'one good turn' sort of thing. I'm very impressed.

Yes it's very common as we in Florida know. What's not as well known is how the programs work, so folks need to read the fine print.

Payments are delayed but not forgiven. If you were slated to make a $200 payment in Sept. and get a 60 day reprieve then in November your payment won't be the standard $200 but $600, immediately due and payable.

My daughter got burned by this two years ago when her mortgage company said they "sympathized" with those impacted by a recent hurricane. All she had to do was let them know she wanted to accept their offer of a three month grace while she got her finances back in order. Huge mistake. The lender (Wells Fargo) then required her to sign new mortgage documents with revised terms, be put on a special default payment plan where if one payment was late in the future, even by a day, she acknowledged default and the house going into immediate foreclosure. With more than 10 years left and who knows what might happen even by accident it makes it a serious obligation.

Lenders are not your friend, and understanding goes only so far as profit. Business is business. Anyone who decides to take advantage of these "grace periods" needs to be aware of the details.

Rayz2016 8 Years · 6957 comments

cogitodexter said:

I'm in the UK and I've never heard of anything like this before

We don't usually have the infrastructure-destroying disasters they see in other parts of the world.