iPhone Upgrade Program - How does it work? + Tips to get ready for the big day : apple

iPhone Upgrade Program – How does it work? + Tips to get ready for the big day : apple

Hey r/Apple!

We are 2-3 days from pre-order day. This thread will serve as discussion for the Upgrade program as lots of people tend to post about it before and during the preorder period.

Any questions that could be asked here will be removed and users will be directed to this thread.

The iPhone Upgrade Program will be referred as “iUP” henceforth.

Here are some FAQs that could be useful for new and existing iUP customers:

Please note: I barely have information on China’s version of the iUP and often omit mentioning it on this FAQ. If you know more about it, please let me know to edit the post

What is the iUP?

The iUP is a program offered by Apple that allows you to finance (with 0% interest) your new toy. Think of it as financing through your carrier, but in this case, you are financing via a bank directly through Apple. The program allows you to upgrade your iPhone every 12 payments and it has AppleCare+ (not to be confused with regular AppleCare) included in the monthly payments.

Where is the iUP available?

The iUP is available in the United States of America, the United Kingdom and China.

When you said “financing via a bank”, who am I dealing with here?”

The bank Apple uses for the IUP is Citizens One (US). Barclays in the UK. I’m not sure which bank Apple uses in China.

Any perks for Apple Card users?

If you pay the monthly payments with your Apple Card, you will receive 3% cashback

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Can I trade in my iPhone towards iUP credit?

No. Read this post for more information

How much are the current iPhones on iUP?

Here is a table for the prices of the current iPhones:

(US Price)

iPhone 12 Mini iPhone 12 iPhone 12 Pro iPhone 12 Pro Max
$35.33/month (64GB) $39.50/month (64GB) $49.91/month (128GB) $54.08/month (128GB)
$37.41/month (128GB) $41.58/month (128GB) $54.08/month (256GB) $58.25/month (256GB)
$41.58/month (256GB) $45.75/month (256GB) $62.41/month (512GB) $66.58/month (512GB)

(UK Price)

iPhone 12 Mini iPhone 12 iPhone 12 Pro iPhone 12 Pro Max
£38.95/month (64GB) £43.95/month (64GB) £56.45/month (128GB) £61.45/month (128GB)
£41.45/month (128GB) £46.45/month (128GB) £61.45/month (256GB) £66.45/month (256GB)
£46.45/month (256GB) £51.45/month (256GB) £71.45/month (512GB) £76.45/month (512GB)

Here is also the full retail price of the iPhones for reference:

iPhone 12 Mini iPhone 12 iPhone 12 Pro iPhone 12 Pro Max
$699/£729 (64GB) $799/£799
$749/£779 (128GB) $879/£849 (128GB) $999/£1049(128GB) $1099/£1099 (128GB)
$849/£879 (256GB) $979/£1099 (256GB) $1199/£1199 (256GB) $1199/£1199 (256GB)
N/A (512GB) $1299/£1299 (512GB) $1399/£1399 (512GB)

All prices include AppleCare+. AppleCare+ with Theft and Protection available for an extra cost (available when ‘building’ your order)

Do I need to be in a specific carrier to use the iUP?

Yes. On the US, you will need to be on one of the big 4 carriers, in a postpaid program. UK users don’t need to specify their carriers.

How do I join the iUP?

On the USA, you can join the iUP via Apple’s Apple Store app, Apple’s website and/or going to an Apple Store. UK users need to go to the Apple Store to sign up for the program.

On the Apple Store app, the process roughly looks like this (old video, but similar process)

On Apple’s website, the process roughly looks like this (old video, but similar process)

On the Apple Store, make sure to bring your Credit Card/Debit Card, and you should know your phone account’s information like the phone number and the PIN if applicable

Does the iUP offer theft/loss protection?

In itself, no. They do have an option that will allow you to bundle AppleCare+ with Theft and Loss protection with the monthly payments. Read the linked page for more information and how much is the deductible if you lose your device.

Some carriers do offer protection for devices that aren’t bought/financed from/through them. T-Mobile, AT&T, Sprint, and Verizon all offer “Bring Your Own Device” protection plans if you are interested.

You might want to call Apple (1‑800‑MY‑APPLE / 1-800-692-7753) to make sure that if you are able to return the replacement device when upgrading if you end up losing your device.

Anything else I should know?

Yes, couple of tips:

  1. Go get pre-approved (US only) for the program right now so you can pre-order the phone right away on Friday morning (5AM Cupertino/8AM New York). You have to use the Apple Store app on iOS to apply.

  2. Existing users: Check your upgrade eligibility on this site

  3. When you sign up for the program, a credit inquiry is added to your credit report. When you upgrade through the program, there will be no inquiry unless Citizen Bank deems it necessary

(YMMV, some users, like myself, got an inquiry added to their report. In my case, it was an Equifax hard inquiry)

4. On the iUP, you will get an unlocked iPhone. You are more than welcome to switch to any carrier if so you wish (the initial activation must be with the big 4 carriers on USA).

5. If your credit is frozen, you might want to unfreeze it a couple of days before to ensure that there is no problem.

6. You will need to pay taxes upfront if you have Apple send you the device to your home. Otherwise, you can have the taxes bundled into the loan itself (as noted by the ToS) if you pick up the iPhone at the Apple Store: https://imgur.com/McT9xkR

7. Here is some information about China’s iUP

8. If you are upgrading, Apple will send you a box (with labels and everything) for you to send your phone back

Useful Links:

IUP UK Website

IUP US Website

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