Apple Pay Later Launches Across U.S. — Here's How To Use It

After a limited rollout in March, Apple Pay Later is now available to all U.S. users.

People in an Apple store with a wall showing the Apple logo.
(Image credit: Spencer Platt, Getty Images)

Apple’s payment service Apple Pay has officially rolled out Apple Pay Later to all U.S. users, following a limited launch to randomly selected users in March.

Apple Pay Later lets users split their eligible purchases of between $75 and $1,000 into four equal payments over six weeks – with no fees or interest.

How to get Apple Pay Later

To be eligible, you must be 18 years of age or older and a U.S. citizen or lawful resident with a valid, physical U.S. address that is not a P.O. box.

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You’ll need to set up two-factor authentication for your Apple ID and do an update to the latest version of iOS on your device. You may be asked to verify your identity with a driver’s license or state-issued photo ID.

To use Apple Pay Later, you must have an Apple Pay account that includes an eligible debit card. Apple Pay Later only accepts debit card payments.

You'll also need to temporarily lift any credit freeze on your credit report before applying for an Apple Pay Later loan.

Apple said it may do a soft credit check to evaluate your application but that this won’t impact your credit score.

Apple said there are a few reasons why Apple Financing could reject your application. These include being currently or recently past due on your debt obligation; having a recent bankruptcy; or having a low credit score. 

Apple said your application may be declined if, for example, your FICO score is less than 610 or Lift Premium score is lower than 580.

"Applicants who aren't approved for a loan may qualify in the future," Apple says on its website, adding that interested customers can submit a new application again after 30 days of receiving notice of a decline.

How to use Apple Pay Later

To use Apple Pay Later, select Apple Pay at checkout when shopping online or in apps, then tap the Pay Later tab to start an application for the purchase. You should know in seconds if you’re approved, Apple said.

If you’re approved, you’ll see your four new payments and their due dates along with any other upcoming Apple Pay Later payments on your schedule, so you can “have a good look at your commitments, before you commit,” Apple said.

You can use autopay to make payments or choose to pay manually — and yes, you can pay early on your Apple Pay Later commitments.

BNPL plans grow in popularity

Buy now, pay later loans are growing in popularity, and many online retailers provide them at the moment of sale, as Kiplinger previously reported. While these loans let you make numerous interest-free payments for a charge, it is a good idea to exercise some caution. Breaking up payments can make a big purchase seem cheaper, which can tempt you to overspend, so it's important to weigh all the costs.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.