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Apple Card and Goldman Sachs Allows Customers to Defer Payments for April Amid COVID-19

By Aditya Raghunath – Apr 2, 2020 at 12:34PM

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Apple Card customers can now defer payments without any interest charge for the second consecutive month.

According to a Bloomberg report, technology giant Apple Inc. (AAPL 3.08%) and leading investment bank Goldman Sachs (GS 2.08%) have agreed to defer payments for Apple Card customers in the month of April. Apple Card customers will not be charged any interest on the delayed payments.

The two companies are looking to ease any financial burden on the customers who continue to grapple with the impact of the COVID-19 pandemic. Apple and Goldman had offered to defer customer payments for March as well. Card users need to connect with a customer support representative via the app's messaging feature and opt to defer the payment.

A girl holding a credit card

Image Source: Getty Images.

Bloomberg cited an email sent by Apple to its customers that states, "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."

Several other top banks including American Express, Bank of America, Barclays,and Capital One among others have encouraged customers to reach out in case they are experiencing financial difficulties.

The Apple Card was launched back in August 2019 in partnership with Goldman Sachs. It is integrated with the iPhone and can be accessed by the Wallet App. It has several benefits including daily cashback and interest-free monthly payments.

Aditya Raghunath has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has a disclosure policy.

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Stocks Mentioned

Apple Inc. Stock Quote
Apple Inc.
$142.45 (3.08%) $4.25
The Goldman Sachs Group, Inc. Stock Quote
The Goldman Sachs Group, Inc.
$299.15 (2.08%) $6.10
American Express Company Stock Quote
American Express Company
$140.02 (3.79%) $5.11
Bank of America Corporation Stock Quote
Bank of America Corporation
$31.09 (2.95%) $0.89
Capital One Financial Corporation Stock Quote
Capital One Financial Corporation
$95.57 (3.69%) $3.40
Barclays PLC Stock Quote
Barclays PLC
$6.61 (3.28%) $0.21

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