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Apple Card and Challenging High APRs

L

LawJolla

macrumors regular
Original poster
Sep 29, 2013
202
1,364
My rate is huge and I'm wondering why. (I checked for another rate thread but didn't find any).

I'm at 17.99%. Here's my credit/FICO score per Apple (840, see attached).

I don't want to accept the card if I can't fight about it later. Does anyone know how you can ask for an explanation?
 

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LawJolla said:
My rate is huge and I'm wondering why. (I checked for another rate thread but didn't find any).

I'm at 17.99%. Here's my credit/FICO score per Apple (840, see attached).

I don't want to accept the card if I can't fight about it later. Does anyone know how you can ask for an explanation?
Click to expand...
You can contact Goldman Sachs they do have a department for the Apple Card. Don't know a direct number calling Apple and asking for a transfer is probably best.
 
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Banglazed said:
My credit score is 800 but my got APR 19.99%. I’m curious, what credit limit did it offer you?
Click to expand...

Thanks for the response... that makes me even madder than my offer. :) $8500

If 800 is "good" enough for 20% interest, I don't know the point of credit cards.
 
LawJolla said:
Thanks for the response... that makes me even madder than my offer. :) $8500

If 800 is "good" enough for 20% interest, I don't know the point of credit cards.
Click to expand...

I got 17.99% and 15K limit, but I'm not concerned about the APR at all because I choose to pay off all my cards every month and carry no debt.
 
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Spytap said:
I got 17.99% and 15K limit, but I'm not concerned about the APR at all because I choose to pay off all my cards every month and carry no CC debt.
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And that's the point of this card is to pay all debits every month. It's very transparent on how to avoid any interest.
 
iApplereviews said:
And that's the point of this card is to pay all debits every month. It's very transparent on how to avoid any interest.
Click to expand...

No different from any card, really. Just more transparent in the timing and with fewer fees if you forget.
 
iApplereviews said:
I'm just laughing at the post on here of people afraid to make electronic payments on the card. Like wut
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You and I may be a little older. I know a number of my younger colleagues who are (justifiably) scared of debt due to high student loans and thus mainly use debit/venmo. I wouldn't be shocked if this is the first CC for a number of people (not necessarily saying that's the case for this thread, just some of the commentary I've seen.)
 
Spytap said:
You and I may be a little older. I know a number of my younger colleagues who are (justifiably) scared of debt due to high student loans and thus mainly use debit/venmo. I wouldn't be shocked if this is the first CC for a number of people (not necessarily saying that's the case for this thread, just some of the commentary I've seen.)
Click to expand...
I don't mean they are afraid of the debit or actually making payments I mean they are afraid of having their bank info on file or electric payments some are saying they want an option to mail checks. Which I find it weird they would have opted for a card like this.
 
Spytap said:
You and I may be a little older. I know a number of my younger colleagues who are (justifiably) scared of debt due to high student loans and thus mainly use debit/venmo. I wouldn't be shocked if this is the first CC for a number of people (not necessarily saying that's the case for this thread, just some of the commentary I've seen.)
Click to expand...

I was really, really spooked about using credit cards and didn't get one until I got out of college. I knew a lot of friends that got into trouble with frivolous spending and minimum credit card payments. It's kind of funny how I'm the exact opposite now and put every cent I can on my credit cards (never carrying a balance).
 
I contacted Goldman Sachs. I told them if an 840 credit score can't get their lowest rate, and they can't otherwise justify the higher rate, then their low rate is a fraudulent marketing gimmick. (For the "other issue" categories, I have $26k in available CC credit and owe $700).

They said they'd get back to me. We'll see.
 
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MisterSavage said:
I was really, really spooked about using credit cards and didn't get one until I got out of college. I knew a lot of friends that got into trouble with frivolous spending and minimum credit card payments. It's kind of funny how I'm the exact opposite now and put every cent I can on my credit cards (never carrying a balance).
Click to expand...
I've got a couple with a balance but Im not using those cards anymore and am paying them down. Haven't used credit really much at all in months. But I do plan on using the Apple Card Vs my debit and just doing weekly payments and not carrying a balance. Just using it for the transparency on spending and instant cash back. Oh ya and that nice physical card.
[doublepost=1565815330][/doublepost]
LawJolla said:
I contacted Goldman Sachs. I told them if an 840 credit score can't get their lowest rate, and they can't otherwise justify the higher rate, then their low rate is a fraudulent marketing gimmick. (For the "other issue" categories, I have $26k in available CC credit and owe $700).

They said they'd get back to me. We'll see.
Click to expand...
I don't know your details and not claiming to. But APR decisions are based on more than that number. You will have an extremely hard time proving false advertising/fraudulent marketing. If you only owe $700 on all your cards you don't seem to have much to worry about in terms of APR. If your not going to carry a balance or much of one why is APR so relevant to your decision?
 
iApplereviews said:
I've got a couple with a balance but Im not using those cards anymore and am paying them down. Haven't used credit really much at all in months. But I do plan on using the Apple Card Vs my debit and just doing weekly payments and not carrying a balance. Just using it for the transparency on spending and instant cash back. Oh ya and that nice physical card.
[doublepost=1565815330][/doublepost]
I don't know your details and not claiming to. But APR decisions are based on more than that number. You will have an extremely hard time proving false advertising/fraudulent marketing. If you only owe $700 on all your cards you don't seem to have much to worry about in terms of APR. If your not going to carry a balance or much of one why is APR so relevant to your decision?
Click to expand...

I'd assume that between the two of us only one went to law school. Let's leave legal suppositions like proof to those who are trained in such manners. I don't use words loosely.

Allow me to extend your non point further. If my APR was 300%, why should I care? Why would that be relevant? 2000%? I pay it off monthly, who cares. Right?

To answer your silly, Apple brown nosing question, because if I can't get 12.9% then no one can and it's a con. And I care that it's a con.
 
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LawJolla said:
I'd assume that between the two of us only one went to law school. Let's leave legal suppositions like proof to those who are trained in such manners. I don't use words loosely.

Allow me to extend your non point further. If my APR was 300%, why should I care? Why would that be relevant? 2000%? I pay it off monthly, who cares. Right?

To answer your silly, Apple brown nosing question, because if I can't get 12.9% then no one can and it's a con. And I care that it's a con.
Click to expand...

You sound like Mr. Perfect “if I can’t no one can”
 
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LawJolla said:
I contacted Goldman Sachs. I told them if an 840 credit score can't get their lowest rate, and they can't otherwise justify the higher rate, then their low rate is a fraudulent marketing gimmick. (For the "other issue" categories, I have $26k in available CC credit and owe $700).

They said they'd get back to me. We'll see.
Click to expand...
Hey just wanna let you know that even though you can’t get 12.99% people have. So good going on your “if I can’t get their lowest rate no one can” it was wrong!
 

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LawJolla said:
My rate is huge and I'm wondering why. (I checked for another rate thread but didn't find any).

I'm at 17.99%. Here's my credit/FICO score per Apple (840, see attached).

I don't want to accept the card if I can't fight about it later. Does anyone know how you can ask for an explanation?
Click to expand...

I am curious about credit scores and Apple Card interest rate ... my score was 850... and I have an APR of 16.99%. and a limit of 15K ... the APR seems high for that score... but, like many here have already said, I don't carry a balance, so it's not really an issue... I am curious, though... my score is 850, you can't get higher... so what does it take to score the 13.99% APR?
 
Spytap said:
"I was an ******* to a customer service agent and then bragged about it on a forum where I pretended to be a lawyer. I wonder if I'll get what I want?"
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LOL. I think OP had a heart attack from getting so worked up and thus no update. Sheesh! :eek:
 
I got 12.99%. I don’t carry a balance ever. Credit score was low 800s when I purchased a car in April. I’m guessing they are looking at various factors aside from just score?
 
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