Apple Card's Base APR Lowered to 10.99% for Some Cardholders

Following two interest rate cuts by the U.S. Federal Reserve in March, the Apple Card's base APR has now decreased from 12.49 percent to 10.99 percent for some cardholders, including MacRumors reader Zed and others on Reddit.

apple card lower apr
This is at least the third time that the Apple Card's APR range has been lowered since the credit card launched in August 2019.

Due to current affairs, Apple recently launched a customer assistance program that allows Apple Card holders to skip their March and April payments without incurring interest charges. To enroll in the program, read Apple's support document.

Key features of the Apple Card include color-coded spending summaries in the Wallet app, no fees beyond any applicable interest, and up to three percent daily cashback.

To apply for an ‌Apple Card‌, simply open the Wallet app on an iPhone running iOS 12.4 or later, tap the plus button in the top-right corner, and follow the on-screen steps. The process takes just a few minutes, and if approved, your digital ‌Apple Card‌ will be ready for purchases immediately. A physical titanium-based Apple Card is also available for use at retail stores that do not accept contactless payments.

Top Rated Comments

mattopotamus Avatar
9 months ago
Still sitting at 12.49, but credit card interest rates are irrelevant if you are using them right.
Score: 28 Votes (Like | Disagree)
cmaier Avatar
9 months ago


mine dropped to 10.99% as well. Would like it even more if they approved my CLI from $250?

Cool. Cool. Hey, just curious, what was the name of your first pet?
Score: 22 Votes (Like | Disagree)
jonblatho Avatar
9 months ago


11% ?!!!!
you’re telling me people takes loan with 11% interest rate ??
This is so dumb ! It’s literally a poverty trap !
Don’t buy stuff you can’t afford, loans are for house, cars and health issue, period.

If you pay the balance in full every month — in other words, if you live within your means — you are charged zero interest, you get some cash back, you’ll likely build or maintain good credit for when it comes time to buy something like a house or car, and you have a lifeline in case whatever’s in your checking account isn’t enough to cover an substantial emergency expense.
Score: 12 Votes (Like | Disagree)
bsolar Avatar
9 months ago


In times of 0% interest rates for your balance and a Federal funds rate of 0,25%. even 10,99% is a total Rip-off!

3-4% would be adequate depending on credit score. Steve would have never allowed this.

It's not entirely the case.

The reason credit card interest rates are so high is because they are in fact loans without collateral, meaning that if you don't pay back what the bank is due, the bank has no asset it can take to recoup the losses. This is different e.g. compared to a loan for a house or car, where if you stop paying the bank has the option to repossess them, resell them and get at least some money back.

This means the bank has a higher risk of not getting back the money from those who don't pay, which means the interest rate is high compared to more secure forms of loan.
Score: 9 Votes (Like | Disagree)
Rychiar Avatar
9 months ago
mine dropped to 15.99 from I think 17.99. I pay it off every month
Score: 8 Votes (Like | Disagree)
DoctorTech Avatar
9 months ago
Mine hasn't dropped that far but I just checked it and it has dropped by 2% since I got the card last August. I pay it off every month so I have never paid any interest on the card so far.
Score: 6 Votes (Like | Disagree)

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