Apple to offer Apple Card payment plans for products other than iPhone

Apple Card offers payment plan options for new iPhones, and soon other products

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Apple will soon let customers make purchases via payment plans on their Apple Card, similar to a program that already exists for the iPhone.

During Apple's second quarter earnings call on Thursday, CEO Tim Cook announced that customers will one day soon be able to make purchases of products using a payment plan on their Apple Card. This benefit already exists for iPhone and, according to Cook, is set to expand to other devices in Apple's lineup.

"Well, as you know, we launched the payment plan earlier on Apple Card for iPhone," Cook said. "We're working on doing that for other products as well and you'll see something on that shortly."

The initiative would expand upon other purchasing programs like trade-in and the iPhone Upgrade Program.

The Apple Card Monthly Installments program still lets you take advantage of the 3% cash back On Apple purchases. The 24-month installment plan is interest free, and incurs no other charges. This type of payment plan would certainly increase a customer's ability to buy new devices more frequently.