Apple Card interest rates rise as Fed battles inflation.

Apple Card

Apple Card interest rates on overdue balances continue to rise as the Federal Reserve raises interest rates overnight in an effort to slow inflation in the United States.

As of July 1, the Apple Card's variable APR now ranges from 12.49% to 23.49% based on creditworthiness, up from 11.74% to 22.74%.

That's consistent with the Fed's 0.75 percentage point hike in its overnight rate in June.

Apple Card interest rates ranged from 10.99% to 21.99% for most of 2020 and 2021 as the Fed lowered rates in response to the COVID-19 pandemic.

Apple Card's APR range is likely to increase from 13.24% to 24.24% based on creditworthiness. This will be the highest interest rate range for the Apple Card since 2019.

if you carry an excess balance on your Apple Card, be aware that interest charges will increase and you will incur additional costs.