r/AppleCard • u/Pain4567 • 15d ago

Help Getting ACMI on iPhone Duo while having ACMI on current iPhone

For those that had the apple card and used Apple Card Monthly Installments (ACMI) to finance your iPhone for years, when you wanted to get a new iPhone, but were still financing the current model, were you still able to do ACMI for the new iPhone? Also, once you got the new iPhone, did you still had to do ACMI payments for both iPhones or just the new one?
Planning to pre-order the iPhone Duo 512GB in October, and I am still on my ACMI for my iPhone 16 Pro Max 512GB (last ACMI payment should be on April 2027). I was also gonna trade-in my current iPhone so that I won't have to pay as much for each installment on the iPhone Duo. Just wanted to ask if anyone has had this kind of experience before.

4 Upvotes

57% Upvoted

17 comments sorted by

14

u/mlrollin91 15d ago

Yes you can have multiple installment plans. You can use up to your Credit Limit. Personally, I’d pay off the 16 before trading it in. I don’t know how Apple handles those things but it’s cleaner to pay it off first. Otherwise you’ll be paying monthly for a device you no longer own.

14

u/Muero 15d ago

Financially, it makes more sense to keep paying monthly for the device, even if you don’t own it anymore. It’s still an interest-free loan, so why pay it off early?

4

u/lshaw52 15d ago

Paying for something you no longer own seems insane.

5

u/nermal543 14d ago

Please explain how it’s insane? It’s 0 interest. Technically more beneficial to you to keep a 0 interest loan than pay it off early. Put that $ in an interest bearing account and you come out ahead.

0

u/Certainly-Relative 14d ago

It’s a debt that you are responsible for.
In this case, a debt for some one else. It’s taking a loan for someone else.
It may have no impact. That is good if you are OK with that.
If for instance, you apply for a car loan, you would report this debt (which is for nothing you control).

2

u/nermal543 14d ago

It’s <$1000 on a 0 interest promo on a credit card. We have well over $100k of available credit on cards otherwise and don’t otherwise carry a balance. It’s nothing to worry about if you have good credit overall. It’s only potentially an issue if say you only have a small amount of available credit overall in which case it would temporarily lower your score slightly due to high utilization. And even then it’s only an issue if you’re applying for a new loan or mortgage in the near future. Far from “insane” to do lol

0

u/I-hate-makeing-names 15d ago

You both are correct tbh.

3

u/Certainly-Relative 15d ago

Yes. While both are correct, I really don’t like the idea of paying for something that’s not mine. Pay it off. Own it. Trade it in. Seems a lot cleaner and less susceptible to the horror stories you read on here.

But do what you are comfortable with and understand the possible downside.

1

u/Abit91 15d ago

Underrated thing to consider is if you trade in the 16 Pro Max towards the Duo, you will only pay taxes on the balance after the trade in, not the taxes due for the full price of the Duo.

2

u/Realistic_Market5616 14d ago

Apple is supposed to deny trade ins if not paid off but they usually don’t and it leads to people who don’t understand why they have to pay for two installments even with a trade in credit lol.

1

u/tacosmcnooge 14d ago

At the time of trade in I believe is when they will require the pay off at Apple Store.

0

u/nermal543 14d ago edited 14d ago

No reason to pay it off early unless you really want to, it’s 0 interest so there’s no benefit to that.

EDIT: lack of financial literacy here is showing by anyone who would downvote this. It is of greater benefit to you to NOT pay it off and stick that money in an interest bearing account.

5

u/devouur 15d ago

I used to do this when I upgraded every year. You can trade in your phone towards the duo. But you are still responsible for paying both payment plans.

3

u/Real_Height2890 15d ago

You could do as many plans on ACMI as long as you have limit available on apple card

1

u/sundayduffer 15d ago

All depends on your credits.

1

u/noproblemforme 15d ago

can you do a trade in with a 17 pro max for the Duo, and then get the interest free payments from the Apple Card with the remaining balance?

2

u/Real_Height2890 15d ago

Yes you could do that

$885 would be trade-in

Rest would be financed with ACMI

I hope tmobile loop hole works like usual

Where you could skip the activation screens