Apple activates iPhone Upgrade Program pre-approval process for iPhone 12

Following the unveiling of iPhone 12, Apple on Tuesday initiated the loan pre-approval process for new and existing members of the iPhone Upgrade Program who plan to purchase the device on launch day.

As with previous flagship iPhone debuts, this year's start to pre-approvals arrives just hours after the handset was announced at a special virtual event.

Pre-approvals allow members of the iPhone Upgrade Program to place pre-orders on Friday alongside what is expected to be a glut of early adopters. The process saves precious minutes that could mean the difference between a launch day unit or delayed delivery.

Program members can apply for pre-approval through the Apple Store app for iOS. The app serves as an online portal to Apple's storefront and has been updated with information regarding the iPhone 12 and iPhone 12 Pro. Those models go up for sale on Oct. 16. An identical pre-approval procedure is expected for iPhone 12 mini and iPhone 12 Pro Max when pre-orders for those devices go live on Nov. 6.

Tapping on the "Get "Ready" link on the app's main page, or dedicated iPhone 12 page, invokes a pop-up informing users of pre-order availability. Moving through a subsequent pricing and configuration page takes buyers to various payment options, including iPhone Upgrade Program.

Users can also check program eligibility via a new option in the For You section of the Apple Store app.

Members have until 9:00 p.m. Pacific on Oct. 15 to get pre-approved, and can only be pre-approved once per phone number. Pricing is set at $39.50 per month for the iPhone 12 and $49.91 a month for iPhone 12 Pro, with AppleCare+ included.

Apple's iPhone 12 and iPhone 12 Pro will be up for pre-order on Friday, Oct. 16 at 5 a.m. Pacific. Orders are due to arrive on Oct. 23.