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Interest charged for unsuccessful payment and unpaid portion from last month's statement

I have never had this issue before but with apple credit card, I was surprised at these issues


1) I made a payment on 29th of the Oct but transaction from my bank did not go through (email received on 11/2 about this) and I paid it on Nov 2nd through making a phone call to the customer center. When I called them, they said they do not charge late fee/interests but they did. I had enough money in my account but they said it was my first transaction for the apple card and it was more than $2000 so that might be the reason why the transaction did not go through.


2) In November, I paid whatever left on my account (October balance or card balance) with the pull-down menu on a apple card website before the due date. However, I paid $40 less than I actually spent (of course I did not notice when I paid). SO, they charged me interest from the previous cycle. Since I used this CC only for the past 3 months, I calculated how much I spent and and paid from the first month, and I realized I paid $40 less than what I spent in Nov and they charged me this $40 and its interest on current cycle. I am pretty sure I picked one of the balance amount from the pull-down menu.


When I opened the account, the promotion said no late? fee with this CC. Although I did not pay on time as a result, unsuccessful payment was because of system issue and I did not get the instant response from my chase bank.


I called them and I am still waiting for their reply to see if they can dispute my interests. I never had this issue with any other CC. Now I am thinking of cancelling this card.


Is there anyone who has a same issue as me?

iPhone 8, iOS 16

Posted on Dec 18, 2024 10:23 PM

Reply
3 replies

Dec 19, 2024 4:16 AM in response to f910eb

All credit cards charge interest. Apple Card has no late fees, which are separate from interest. If your bank didn’t pay the credit card even though funds were available in your account, your issue is with the bank for not honoring your payment. Ask you bank to pay your interest. It’s certainly not wrong for Goldman to charge interest, but it is wrong for your bank to cause you to miss a payment an incure interest charges.


When you failed to make the October minimum payment interest in charged on the unpaid October balance and on the November balance until paid in full.


Any credit card will have an issue with missed payment. You owe the credit card the interest and dispute it with your bank that caused you to miss the payment. Sorry, but I can’t see where Goldman Sachs (Apple Card) did anything wrong or not by the terms and conditions you agreed to.

Dec 19, 2024 5:21 PM in response to Jeff Donald

As you suggested, I have messaged to Chase bank for this event and see if they can pay me back for the interest. However, I sill did not get #2 issues, why they put some other numbers for payment and I paid less for the next month and I need to pay for the interest. Do ppl check how much they spent on a statement and see if there is a difference for the pull-down menu amount and actual amount spent in the statement? Don't you simply believe what the pull-down menu amount?

Dec 20, 2024 4:46 AM in response to f910eb

You account is going to be difficult to manage because you don’t have an iPhone and the built in tools to assist in managing your account.


Using the limited online tools, you must pay the statement balance in full each month to avoid interest charges. The payment must be made by the last day of every month by 11:59 Eastern Time. If you miss. You will owe interest.

Interest charged for unsuccessful payment and unpaid portion from last month's statement

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