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.

Popular Stories

New Things Your iPhone Can Do in iOS 18

20 New Things Your iPhone Can Do in iOS 18.2

Monday December 16, 2024 8:55 am PST by
Apple released iOS 18.2 in the second week of December, bringing the second round of Apple Intelligence features to iPhone 15 Pro and iPhone 16 models. This update brings several major advancements to Apple's AI integration, including completely new image generation tools and a range of Visual Intelligence-based enhancements. Apple has added a handful of new non-AI related feature controls as...
iphone 16 apple intelligence

Apple Drops Plans for iPhone Hardware Subscription Service

Wednesday December 18, 2024 11:39 am PST by
Apple is no longer planning to launch a hardware subscription service that would let customers "subscribe" to get a new iPhone each year, reports Bloomberg's Mark Gurman. Gurman first shared rumors about Apple's work on a hardware subscription service back in 2022, and at the time, he said that Apple wanted to develop a simple system that would allow customers to pay a monthly fee to gain...
iPhone 17 Pro Dual Tone Feature 1

iPhone 17 Pro Rumored to Stick With 'Triangular' Camera Design

Wednesday December 18, 2024 2:36 am PST by
Contrary to recent reports, the iPhone 17 Pro will not feature a horizontal camera layout, according to the leaker known as "Instant Digital." In a new post on Weibo, the leaker said that a source has confirmed that while the appearance of the back of the iPhone 17 Pro has indeed changed, the layout of the three cameras is "still triangular," rather than the "horizontal bar spread on the...
elevation lab airtag battery

Your AirTag's Battery Will Last for Up to 10 Years With Elevation Lab's New TimeCapsule Enclosure

Wednesday December 18, 2024 10:05 am PST by
Elevation Lab today announced the launch of TimeCapsule, an innovative and simple solution for increasing the battery life of Apple's AirTag. Priced at $20, TimeCapsule is an AirTag enclosure that houses two AA batteries that offer 14x more battery capacity than the CR2032 battery that the AirTag runs on. It works by attaching the AirTag's upper housing to the built-in custom contact in the...
apple tv 4k yellow bg feature

New Apple TV Rumored to Launch Next Year With These Features

Tuesday December 17, 2024 9:02 am PST by
The current Apple TV 4K was released more than two years ago, so the streaming device is becoming due for a hardware upgrade soon. Fortunately, it was recently rumored that a new Apple TV will launch at some point next year. Below, we recap rumors about the next-generation Apple TV. Bloomberg's Mark Gurman last week reported that Apple has been working on its own combined Wi-Fi and...
blackmagic vision pro

Blackmagic Debuts $30K 3D Camera for Capturing Video for Vision Pro

Monday December 16, 2024 4:17 pm PST by
Blackmagic today announced that its URSA Cine Immersive camera is now available for pre-order, with deliveries set to start late in the first quarter of 2025. Blackmagic says that this is the world's first commercial camera system designed to capture 3D content for the Vision Pro. The URSA Cine Immersive camera was first introduced in June, but it has not been available for purchase until...
mac pro creativity

Apple Launched the Controversial 'Trashcan' Mac Pro 11 Years Ago Today

Thursday December 19, 2024 7:00 pm PST by
Apple launched the controversial "trashcan" Mac Pro eleven years ago today, introducing one of its most criticized designs that persisted through a period of widespread discontentment with the Mac lineup. The redesign took the Mac Pro in an entirely new direction, spearheaded by a polished aluminum cylindrical design that became unofficially dubbed the "trashcan" in the Mac community. All of ...
iPhone 17 Slim Feature

'iPhone 17 Air' With 'Major' Design Changes and 19-Inch MacBook Detailed in New Report

Sunday December 15, 2024 9:47 am PST by
Apple is planning a series of "major design" and "format changes" for iPhones over the next few years, according to The Wall Street Journal's Aaron Tilley and Yang Jie. The paywalled report published today corroborated the widely-rumored "iPhone 17 Air" with an "ultrathin" design that is thinner than current iPhone models. The report did not mention a specific measurement, but previous...

Top Rated Comments

mattopotamus Avatar
62 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
62 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
62 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
62 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
62 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
62 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)