Motorola has announced a new financing program to help people purchase the company’s devices. “Motorola Money” is a line of credit specifically for the purchase of Motorola products. It’s a great deal too, with ZERO interest and ZERO down as long as you pay it off within 6, 12, or 18 months!
Maybe this move has something to do with reports that Motorola’s flagship, the Moto X, has had disappointing sales. Maybe Motorola (itself owned by Google) just wants to generate a little goodwill and market share. Either way, it’s a good time to get ahold of a new Motorola Smartphone. The Moto X, and just about all of Motorola’s newer DROID phones are getting updated to Android 4.4 KitKat.
Of course, you’ll need to be approved as with any line of credit. The financing is done through Comenity Capital bank. You won’t pay any interest as long as you make your payments on time, but you’ll get hit with a steep 28.99% APR if you’re late. Pricey smartphones and anything else over $549 will give you the full 18 month period to pay. Less expensive Motorola products will fall under the 12 and 6 month time-frames.
Motorola Money can be found online here. Motorola released a FAQ to answer your further questions. It follows below:
Who provides the Motorola Credit? We’re not a bank, we’re a tech company. As such, we leave the money stuff to people who
know it best. We’ve entrusted Comenity Capital Bank to provide the lending for the credit
How do I apply for a Motorola Credit account? If you are over the age of 18, you may apply online at comenity.net/motorola
How do I know if my application has been approved? Once you complete and submit your application:
Your application may be approved instantly, and you will receive immediate notification. In
many cases, new accounts are available for immediate use.
If your application is not able to be approved instantly, you will receive a response by mail
within 7-10 business days.
What is the APR of the Motorola Credit Account? The standard variable APR is 28.99%, based on the Prime Rate.
Can I request a specific amount for my credit limit increase? If you would like to request a specific credit limit increase, please call the Customer Care
team at 1-855-334-3613 (TDD/TTY: 1-888-819-1918).
How do I decrease my credit limit? If you would like to request a lower credit limit, please call the Customer Care team at 1-
855-334-3613 (TDD/TTY: 1-888-819-1918) for help.
How do I close my account? If you need to cancel your account at any time, please call the Customer Care team at 1-
855-334-3613 (TDD/TTY: 1-888-819-1918).
What do I do if any of my account information is lost or stolen? Keeping your account secure is important to us. If your account information is ever lost or
stolen, please call the Customer Care team at 1-855-334-3613 (TDD/TTY: 1-888-819-1918)
What if I need a transaction that is older than the transactions available
online? If you need a transaction that is not viewable online, please call the Customer Care team at
1-855-334-3613 (TDD/TTY: 1-888-819-1918). We will be happy to help.
I think my account is being used fraudulently. What should I do? Helping you protect your privacy and the security of your account is important to us.
Please call the Customer Care team at 1-855-334-3613 (TDD/TTY: 1-888-819-1918)
immediately to discuss your account.