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 charges on your balance. And you're never charged fees of any kind with Apple Card.* Even if you miss a payment, you won't be charged a late fee or be subject to a new high-interest penalty rate. You will continue to accrue interest on your balance at your regular interest rate.

Interest can increase your outstanding balance and impact your credit score. As a result, it can also impact your ability to apply for loans and receive favorable loan rates.

Interest charge estimates are based on the selected payment, taking into account the balance remaining from your previous month, plus new purchases this month at the time you view your account balance.

*Variable APRs range from 12.99% to 23.99% based on creditworthiness. Rates as of August 2, 2019.

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 will appear on your monthly statement.

How to avoid interest charges

When you go to make a payment in the Wallet app, Apple Card automatically estimates the amount you need to pay to lower or avoid interest charges. Just choose a payment amount and see the estimated interest.2

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

To lower or avoid paying interest on your Apple Card balance, you can either pay your maximum payment or pay your monthly balance plus any balance and interest charges that carry over from previous months.


monthly balance payment screen for Apple Card

Pay your monthly balance

If you pay off your monthly balance each month by the due date, you don't accrue interest.

Your monthly balance includes all purchases from the previous calendar month, except for pending transactions. It also includes the remaining balance and associated interest charges from previous months.

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.

All payments are due by 8:59 p.m. PST on the payment due date. The time shown in the image might not reflect your timezone.

maximum payment screen for Apple Card

 

Make the Maximum Payment

The Maximum Payment includes all new spending made in the current month, except for pending transactions. If you've accrued interest charges, these will also be included. If you pay the maximum, it can help you lower or avoid accruing interest.

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.

All payments are due by 8:59 p.m. PST on the payment due date. The time shown in the image might not reflect your timezone.

payment screen for Apple Card

If you pay less than your monthly balance

If you pay less than your monthly balance, Apple Card automatically estimates the interest you will be charged if you don't pay your monthly balance in full by the end of the billing period. And the wheel turns yellow or 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.

All payments are due by 8:59 p.m. PST on the payment due date. The time shown in the image might not reflect your timezone.2

minimum payment screen for Apple Card

 

How to pay the minimum amount due

The Minimum Payment is the lowest amount you can pay to keep your account current.

To pay the minimum amount due:

  1. Open Wallet on your iPhone, tap Apple Card, then tap the Pay button.
  2. Slide the wheel counterclockwise until it turns red and you see an exclamation point.

Your payment amount shows in the center with your estimated interest charge below. If you already paid your minimum amount due, you won't see an exclamation point when you slide the wheel counterclockwise.

To pay less than your minimum amount due, tap Show Keypad. Enter an amount and tap Pay Now or Pay Later, then follow the instructions on your screen.

All payments are due by 8:59 p.m. PST on the payment due date. The time shown in the image might not reflect your timezone.2

  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.

 

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