I’ve only had the Apple Card for every bit of 2 weeks. I ALWAYS pay my full balance as soon as the transactions stop pending. So, in other words, I’m always at a $0 balance. I don’t understand why they just raised my apr, and the customer service agents don’t know why.
I received the following explanation in the email telling me that my monthly statement is available.
My interest rate is different than yours (it varies by person). I pay my balance in full shortly after I receive the monthly statement (before the due date), so I never pay any interest and the rate that they charge doesn't affect me.
Your APR has changed
The Prime Rate has increased and as a result, the variable interest rate on Apple Card has increased. You can view your APR in the Wallet app or card.apple.com.
What is apple doing? Raising apr on Apple Card to 25.74% with no explanation.
