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PSA: Apple Email Asks Users Who Signed Up for Apple Card Invite to Provide Correct Apple ID, Even if They Did Already

hedgeclipper2 said:
Meh, doesn't matter to me, I PIF every month.
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I understand, just looking at their algorithms. If one qualifies for a $40k credit line, that typically means great credit, which should equate to the best percentage rate which is a huge 5% lower at 12.99%.
 
Got the messed up Apple ID e-mail at 3:22PM PST Tuesday, come on apppppple
 
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rmg007 said:
I understand, just looking at their algorithms. If one qualifies for a $40k credit line, that typically means great credit, which should equate to the best percentage rate which is a huge 5% lower at 12.99%.
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I think you're looking at those wrong though. A credit card is NOT A LINE OF CREDIT. "Line of credit" is a specific term for a specific form of credit provided on an asset (or set of assets). they tend to have much lower interest rates as they are generally backed by a bank or credit union, rather than credit payment processor.

Credit cards are fantastic tools for payment, but they should not ever be considered a loan or line of credit. if you have to rely on a credit card for borrowing money, than you have other issues that need to be resolved. 12.9% for a credit card is extremely low. even 17.9% is fairly low. A lot of Credit Cards ar in the 19-24% interest rate areas.

Just a friendly reminder that a credit card is not a loan and should not be treated like a loan. it is also not a line of credit.
https://www.creditkarma.com/advice/i/what-is-line-of-credit/
 
LordVic said:
I think you're looking at those wrong though. A credit card is NOT A LINE OF CREDIT. "Line of credit" is a specific term for a specific form of credit provided on an asset (or set of assets). they tend to have much lower interest rates as they are generally backed by a bank or credit union, rather than credit payment processor.

Credit cards are fantastic tools for payment, but they should not ever be considered a loan or line of credit. if you have to rely on a credit card for borrowing money, than you have other issues that need to be resolved. 12.9% for a credit card is extremely low. even 17.9% is fairly low. A lot of Credit Cards ar in the 19-24% interest rate areas.

Just a friendly reminder that a credit card is not a loan and should not be treated like a loan. it is also not a line of credit.
https://www.creditkarma.com/advice/i/what-is-line-of-credit/
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My terminology may have been off, but the point remains the same. Generally, those with higher credit limits have lower interest rates. Since I have seen someone receive an Apple Card with a 12.99% interest rate and a credit limit of $20,000, I was surprised someone else received an interest rate of 17.99% and a credit limit of $40,000.
 
rmg007 said:
My terminology may have been off, but the point remains the same. Generally, those with higher credit limits have lower interest rates. Since I have seen someone receive an Apple Card with a 12.99% interest rate and a credit limit of $20,000, I was surprised someone else received an interest rate of 17.99% and a credit limit of $40,000.
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Wonder what they're basing it off. 12.99% is a fantastic credit card rate. but then again, I've rejected my credit card companies attempt to bump my limit up. so it's still at a ridiculously high 26%... for $5k ... I never cary a balance however. if I do any large spending that I need to borrow for, I use my banks line of credit itself at 5%.
 
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