Please ensure Javascript is enabled for purposes of website accessibility

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

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

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

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

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
326%
 
S&P 500 Returns
102%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 10/03/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.