How to avoid or lower Apple Card interest charges

Learn how to pay off your Apple Card bill to avoid or lower interest charges.

See the impact of interest charges

Apple Card1 makes it easy to see how much you need to pay to lower or avoid interest charges2 on your balance.

When you go to make a payment in the Wallet app, Apple Card automatically estimates the amount of interest you pay based on the payment amount you choose.

Interest charge estimates are based on the selected payment, taking into account your remaining balance from the previous month, plus new purchases this month at the time you view your account balance. Estimates don't include pending transactions, credits received from disputes on purchases made during the current month, or any other purchases or payments you might make before the end of the billing period. The actual interest charge each month appear on your monthly statement.

If you bought a new iPhone with Apple Card Monthly Installments, your purchase is interest-free.3

Watch the video to learn how to pay your Apple Card balance >

How to avoid interest charges

To avoid being charged interest, pay your monthly balance every month on or before the due date. You know you're paying enough if the payment wheel turns green or blue.

For example:

  • You open an Apple Card account in June. On July 1, you get your June statement that shows your June balance.
  • If you pay off your full June balance by July 31, you aren't charged interest on the June balance.
  • If you only pay a portion of the June balance by July 31:
    • You're charged interest only on the unpaid amount from July 1 through July 31. This amount carries over into August and you're charged interest on new purchases that you make in July from the date of each purchase. The total of these interest charges is included in your July balance, and you continue to be charged interest on the unpaid portion of your July balance.

How your payments affect interest charges

If you pay your full monthly balance by the end of every month, you aren't charged interest.

If you pay the prior month’s balance in full, then pay less than your full monthly balance by the end of the month, you're only charged interest on the unpaid portion up until the date you pay it off. To avoid seeing interest charges completely, pay your monthly balance in full by the due date for two consecutive months.

If you see interest charges on the payment wheel after you paid your monthly balance

If you paid the full monthly balance and still see interest charge estimates on the payment wheel, then you previously made a payment that was less than your full monthly balance. To stop additional interest from accruing, pay your monthly balance. The payment wheel shows the interest you're charged for the days before you paid your monthly balance. This interest is charged on your next monthly statement.

To make sure you always pay your monthly balance on time, you can set up Scheduled Payments.

 

Make the Maximum Payment

The maximum payment represents the total balance on your account at that time, minus any pending transactions. It includes all new transactions cleared in the current month. If you have accrued interest charges, these are also included. If you pay the maximum, it can help you stop additional interest charges.

To make the Maximum Payment, follow these steps:

  1. Open Wallet on your iPhone, tap Apple Card, then tap the Pay button.
  2. Slide the wheel all the way clockwise until it turns blue and you see a star .
  3. Then tap Pay Now to make your Maximum Payment.

If you have Apple Card Monthly Installments, the maximum payment includes the monthly installment due for that month. To pay off the Total Remaining balance for your Apple Card Monthly Installments, you can Pay Early.

* The payment due date shown in Wallet reflects your current timezone setting on iPhone.

Pay your monthly balance

If you pay off your monthly balance each month on or before the due date, you won’t accrue interest.

To pay your monthly balance:

  1. Open Wallet on your iPhone, tap Apple Card, then tap the Pay button.
  2. Your monthly balance is automatically selected and the wheel turns green with a checkmark .
  3. Tap Pay Now to pay your monthly balance immediately. Or you can tap Pay Later.

To set up automatic recurring payments to pay off your monthly balance:

  1. Open Wallet on your iPhone, tap Apple Card, then tap the more button .
  2. Then tap Scheduled Payments, tap Continue, select Pay My Bill, then tap Next.
  3. Choose when you want to make your payment each month, then verify with Face ID, Touch ID, or your passcode.

If you bought a new iPhone with Apple Card Monthly Installments, your monthy installment is included in your minimum payment due every month.

* The payment due date shown in Wallet reflects your current timezone setting on iPhone.

 

If you pay less than your monthly balance

If you choose to pay less than your monthly balance, Apple Card automatically estimates the interest you could be charged based on your selected payment amount. The payment wheel turns red and offers different payment suggestions to help you pay down your balance. Any remaining balance and associated interest charges carry over to the next month.

* The payment due date shown in Wallet reflects your current timezone setting on iPhone.

 

  1. Apple Card is issued by Goldman Sachs Bank USA, Salt Lake City Branch.
  2. Interest estimates are based on your posted account balance at the time of the estimate and do not include pending transactions or any other purchases you might make before the end of the billing period.
  3. Variable APRs range from 12.49% to 23.49% based on creditworthiness. Rates as of December 1, 2019.

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