This is the Ramsey Call of the Day, part of the Ramsey Network.

All right, Jade.

About 1,000 people have sent this news over to me, and so I feel like we have to talk about it before the week is over, and it's about Apple.

And you know, I'm a big Apple fanboy.

I used to work at the Apple store.

I look like just every Apple employee you've ever seen. And I'm a big fan of Apple, but I'm not a fan

of their latest program. Apple Pay Later. Oh no! It's here, folks. And it's more dangerous than I

could even explain, Jade. You know why?

Because no one has to sign up for it.

It's already built into your iPhone.

I hate this.

I hate it already, and I don't even fully know what it is yet, but I kind of do.

So, yeah, we decided to make this a surprise for Jade, because I'm a giant nerd,

so I'm just looking up this stuff all day long. Run down the facts for me, George. So on Tuesday, Apple launched Apple Pay later, and it allows users to split purchases into four

interest-free payments paid over six weeks with no additional fee.

Hate it!

So you buy something for $100.

Apple Pay, while you're checking out with Apple Pay, says, hey, why pay $100 now?

You can pay $25 now and pay the other $75 over the course of

six weeks. So you're paying $25 a week for $100 purchase. It's over six weeks. Okay. So there's no

interest or fees. You're not paying any more for the product. So people out there going, well,

George, Jade, what's wrong with this? What's wrong with it?

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