The Barclaycard Financing Visa® doesn't have a lot of perks, but it can help you pay for an Apple product that might otherwise be out of your price range.

In its former iteration as the Barclaycard Visa with Apple Rewards, cardholders could receive rewards on certain purchases. But that was before Goldman Sachs released their new Apple Card in August of this year, amid considerable fanfare.

Comprise Offers Of Interest Postponement

Following that, a new brand identity and terminology were introduced for the Barclays offering. With the exception of deferred interest deals, the Barclaycard Financing Visa® no longer gives rewards. (Those who already possessed a Barclaycard Visa with Apple Rewards were not affected by the switch; the new policy only applied to new accounts.)

You may be tempted to take advantage of those deals if you are a die-hard Apple lover. Assuming you pay off the balance in full within the promotional period, the card will cost you nothing to carry despite Apple's high prices for laptops, phones, and other electronic items. If not, these deals risk backfiring.

The Apple Credit Card

however the Barclaycard Financing Visa® works in a different way. The Apple Card, like the Barclaycard Financing Visa®, allows you to make interest-free payments on Apple purchases, but it also lets you rack up rewards.

Interest can be postponed but never cancelled.

You can use the Barclaycard Financing Visa® to pay for a pricey Apple laptop, but the introductory APR isn't actually 0%.

Within the first 30 days after account opening, the card offers "special financing on purchases made at Apple," with the amount of financing being proportional to the amount spent on a qualifying purchase:

If the total is less than $499, you have six months to make the payment with zero interest added.

If your total is between $499 and less than $999, you have 12 months to settle the balance with no interest charged.

A zero percent interest payment plan is available for 18 months on balances exceeding $999.

The annual percentage rate (APR) is very high and continues to rise

You shouldn't keep a balance from month to month even if you pay off your item in full each month. The Barclaycard Financing Visa® has a high ongoing interest rate, which is typical for retail credit cards. The continuing Annual Percentage Rate (APR) was 13.99% - 26.99% Variable when new applications were no longer being accepted.

If you have a debt at the end of the introductory 0% APR period, you will only be charged interest on the amount that remains on your balance. While NerdWallet advises paying your account in full and on time each month to avoid interest charges, a lower-interest card can be useful if you carry a debt from month to month.

See the small print for any exceptions.

There are a few guidelines to follow while using a Barclaycard Financing Visa®:

In order to qualify for the deferred interest options detailed above, Apple purchases must be made within the first 30 days of opening an account and must be purchased at Apple.com, an Apple retail store, or by calling 1-800-MY-APPLE. Apple devices purchased from Walmart, for example, are ineligible.

Unfortunately, iTunes purchases are not eligible for the 0% interest plans. If you were hoping to buy the complete discography of Judas Priest and pay it off over the course of six months with no interest accruing, "you've got another thing comin'."

Minimal ancillary benefits

Apple fans may be dissatisfied to hear they will have little, if any, special access to Apple items or events. There will be no preorders. Events hosted by Apple don't require tickets in advance. No discounts or bonuses available, only delayed payment plans.

A "$0 fraud liability" is advertised for the Barclaycard Financing Visa®, however this feature has become expected in the industry. These days, it's unusual to come across a credit card that doesn't provide some minimum security measures.

It's not a card you want to pull out every day.

When your MacBook freezes, you see an infinitely spinning pinwheel icon. The same financial impact would result from using the Barclaycard Financing Visa® as your primary credit card. It would be difficult to break free of a card that offers no perks and no rewards. The metaphorical wheels must be spinning.

There isn't much of a reason to use the card beyond making it easier to pay for a brand new Apple computer, and even then, there are cards with better terms and rewards available.