As is common with most credit cards, the Apple Card’s interest rate on delinquent balances has been rising steadily as the Federal Reserve continues to raise its benchmark overnight rate to curb inflation in the United States.


As of July 1, the Apple Card’s variable APRs now range from 12.49% to 23.49%, depending on creditworthiness, compared to 11.74% to 22.74% previously. This is consistent with the 0.75 percentage point hike in the Fed’s overnight funds rate in June.

Interest rates on the Apple Card sat at just 10.99% to 21.99% for much of 2020 and 2021 as the Fed cut rates in response to the COVID-19 pandemic.

Corresponding The Wall Street JournalThe Fed is expected to announce another 0.75 percentage point hike in its federal funds rate later today, meaning the Apple Card’s APR is likely to see a further increase to between 13.24% and 24.24% depending on creditworthiness . This would be Apple Card’s highest interest rate spread since 2019.

All in all, if you have an overdue balance on your Apple Card, be aware that interest charges have increased and you will incur additional costs.

Apple Card remains limited to the United States.

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