According to a report from MacRumors, and based on Apple Card customers posting the discovery on Reddit this week, the base annual percentage rate, or APR, has dropped from 12.49% to 10.99 percent. This is in light of the United States Federal Reserve slashing interest rates a couple of times in March. And while the base APR is changing for some cardholders, the alteration might not be present for all customers.
Tutorial: How to apply for Apple Card
Other than the base APR, nothing else is changing for Apple Card customers. At least, not at the moment. But we have seen Apple and Goldman Sachs, the bank Apple teamed up with to launch the credit card, recently confirm that due to the global coronavirus pandemic, cardholders can skip their March and April monthly payments without incurring any interest charges.
If you have an Apple Card, have you noticed any significant APR drops for you in the recent months? Are you now at a 10.99% APR? Let us know how your experience has been with Apple’s credit card so far down in the comments below.