What you need to know
- Several users are reporting that their Apple Card interest rate has changed.
- It seems the rate may have dropped from 12.49% to 10.99%.
- The move may be a response to the coronavirus pandemic.
A report suggests that several Apple Card users are seeing their interest rates dropping from 12.49% to 10.99%.
According to MacRumors:
Apple has also recently stated that Apple Cardholders will be able to defer their April payments without interest due to the coronavirus pandemic, having done the same thing in March. from that report:
Apple's Card support document, last updated April 1, 2020, still states the following:
We can also confirm that some users are seeing drops of 2% from other APR values as well, so it looks like these changes may be more widespread for some.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9