Financing A New Mac? | CreditShout

Financing A New Mac?

By Dan Rafter / August 4, 2011
financing a new mac

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You're tired of the viruses that your Windows-based computer constantly attracts. You're sick of Microsoft programs crashing at the worse possible times.

You've made the decision, then, to upgrade to a new Apple computer. The MacPro and MacBook Air have both caught your eye. So has the iMac.

Problem is, these computers aren't cheap. The basic MacBook Pro computer starts at $2,499. More advanced models can run as much as $4,999. The MacBook Air notebook computer starts at a suggested retail price of $999.

In today's challenging economy, you can't scrape together such a large chunk of change.

Fortunately, you do have options. You can finance your new Mac.

You can do this is one of two ways: You can charge your Mac purchase to one of your existing credit cards. Or you can seek financing directly through Apple itself.

Apple Financing

Apple offers a special credit card -- the Barclaycard Financing Visa Card -- to its customers, including those purchasing Mac computers. This card, though, comes with a fairly high purchase interest rate of 22.99 percent.

There is some good news here, though. You won't have to pay any interest on your Mac purchase if you pay off your entire buy during a set time limit.

If your Mac purchase is less than $999, you can avoid interest on your purchase if you pay off your computer within six months. If your purchase is $999 or higher, you'll have 12 months to pay off your purchase without suffering interest.

Be careful, though. If you miss these cut-off dates, you'll be charged interest on your entire purchase, not just on your remaining credit-card balance.

You can also finance your Mac purchase with the Barclaycard with iTunes Rewards Visa Card.

This card also comes with high purchase interest rates, 16.99 percent of 22.99 percent, depending on your creditworthiness. But it also comes with a rewards program.

 You'll earn two iTunes points for every dollar that you charge at any Apple store, whether you're shopping at retail locations, online or by phone. You'll also earn one iTunes point for every dollar that you charge on other purchases.

This card will also reward you with 1,000 bonus points after you use it to make your second purchase. You'll also receive a $25 itTunes Gift Card when you generate 2,500 rewards points.

Both cards can work if you're committed to paying off your Mac purchase in a short period of time. But if you'll be carrying a balance each month on your card, those purchase interest rates can add up.

Your Own Cards

A better option for financing a new Mac computer might be to use your current non-Apple-affiliated credit cards. This assumes, though, that your current credit cards come with more lucrative rewards programs or lower purchase interest rates.

A Mac buy is a big one. If your card provides rewards for every purchase you make, buying a Mac computer can allow you to build your rewards points quickly. And if you have low purchase interest rates, you'll suffer less if your Mac purchase forces you to carry a balance for several months.

Discover cardholders can get 5% cash back on all Apple purchases through ShopDiscover.

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