https://wccftech.com/apple-pay-later-limited-to-up-to-1000/

The Apple Pay Later announcement was a sigh of relief for customers that wanted to purchase top-tier hardware but were unable to because of their ludicrous pricing levels. Unfortunately, there are some caveats that Apple has put in place for consumers, irrespective if you have a history of purchasing products belonging to the company’s lineup. Apparently, the service will only allow you to borrow a maximum of $1,000, and that too with some conditions.

Even if a customer has a terrific credit rating, a report from The Wall Street Journal claims that Apple still intends to limit the borrowed amount to $1,000. The Apple Pay Later feature is expected to arrive when iOS 16 is officially available for compatible devices this fall, and Apple will reportedly run background checks on people through their Apple ID and other sources to see if they are eligible for a specific borrowed amount.