Apple Card APR changed from 23.99% to 12.99% in almost the same day of being approved

[MomoMango]

Hello,

I recently applied and got accepted for the Apple Card yesterday night. I received a $1,000 CL and a 23.99% APR. But this morning my APR dropped drastically.

Since I have a graveyard shift, my lunch break was around 1:30 am. So I used my Apple Card to buy lunch. About 40 minutes later; I decided to set up my auto pay. After I finished, I noticed that my APR dropped to 12.99%!

I have almost 4 months of credit history with Discover: CL of $1,500. I won’t get my scores until October or November. I have no late fees, or any baddies. I have only 1 inquiry by the Apple Card. My annual income is about $30,000

I want to know if this might be a glitch or something temporary. I don’t see how I could get their lowest APR since I just started earning credit not that long ago. 

[AverageJoesCredit]

Congrats You broke Apple. It was bound to hsppen with all these approvals. Wow, lunch at 1:40 am, nice

[CreditInspired]

Congrats on the approval and APR drop. 

I kept thinking something was wrong with Apple/GS rollout the first two days because there were people with 800 scores getting between 17.99-23.99% APR.

I sure hope that drop happens to a lot of those folks. 

Thanks for sharing. 

[MomoMango]

I hope the same happens to those with 800 scores. They deserve it way more than I do. 😢

[Anonymous]

They’re not going to go back and change APRs now for those of us who got the card last week but congrats on the drop, that’s a very nice APR even for people with excellent credit history when it comes to rewards cards!

[CreditInspired]

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@Anonymous wrote:

They’re not going to go back and change APRs now for those of us who got the card last week but congrats on the drop, that’s a very nice APR even for people with excellent credit history when it comes to rewards cards!

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IMO, it really should be a simple coding fix--something like this:

If scores are >790, change any APR to 12.99% (I used 790 since I was offered 12.99% at that score)

and so on, and so on.

Just my 2cents

[Anonymous]

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@CreditInspired wrote:

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@Anonymous wrote:

They’re not going to go back and change APRs now for those of us who got the card last week but congrats on the drop, that’s a very nice APR even for people with excellent credit history when it comes to rewards cards!

---

IMO, it really should be a simple coding fix--something like this:

If scores are >790, change any score to 12.99% (I used 790 since I was offered 12.99% at that score)

and so on, and so on.

Just my 2cents

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But why give up potential future revenue when we already accepted and started using our cards? If they do it, that would be amazing, but I don’t see it happening. 

[CreditInspired]

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@Anonymous wrote:

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@CreditInspired wrote:

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@Anonymous wrote:

They’re not going to go back and change APRs now for those of us who got the card last week but congrats on the drop, that’s a very nice APR even for people with excellent credit history when it comes to rewards cards!

---

IMO, it really should be a simple coding fix--something like this:

If scores are >790, change any score APR to 12.99% (I used 790 since I was offered 12.99% at that score)

and so on, and so on.

Just my 2cents

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But why give up potential future revenue when we already accepted and started using our cards? If they do it, that would be amazing, but I don’t see it happening. 

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True. But once the hype dies down, I sure hope all those with 790+ scores call in and complain about the discrepancy. I mean shouldn't it be equitable across the board? DARN!

[Anonymous]

I got the pre-offer email last night.  Just gave it a shot and it came back with 17.99% and $9000 SCL.  Do not agree was my answer.  My scores are all over 800.

$9000 doesn't impress me enough to go through with the hard inquiry.  I just got Chase a couple months back with a SL of $27000.  Along with that 2 AMEX w unlimited on Rose Gold and $30K on the BCE.  $30K with BofA. etc...

All which are in my apple Wallet and just as user friendly.

Maybe another time.

[Anonymous]

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@Anonymous wrote:

But why give up potential future revenue when we already accepted and started using our cards? If they do it, that would be amazing, but I don’t see it happening. 

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Companies sometimes do promotional reductions, but if you think about it, TD and Amex know I've never carried a balance at the ~20% they're charging me. Amex does know I will carry a balance at 0%. Why don't they consider lowering rates for people who don't carry a balance till they reach a level where they'll use them?