No Late Fee Credit Cards – What is the gotcha?

What happens if you pay Apple Card late?

We’ll never charge you a late fee if you miss a payment deadline, but you’re still responsible for the interest applied to your balance on the date that the payment was due, and you may accrue more interest.

Does the Apple Card have a grace period?

Yes, the Apple Card has a grace period of at least 28 days, lasting from the end of each billing cycle until the payment due date. If cardholders pay their Apple Card statement balance in full every month, Marcus by Goldman Sachs will not charge any interest.

Can I get an extension on my Apple Card payment?

Apple Card customers can submit an enrollment request either online or via the Wallet app by asking an Apple Card Specialist. You’ll receive an email confirmation within the next few days after your enrollment is confirmed. At this point, according to Apple’s email, no further action is needed.

How long do pending charges stay on Apple Card?

A charge can be pending on your account for up to five days. There are several factors that affect how long a pending charge will appear on your credit card. These include when you made the transaction and how long it takes the merchant to process it. Card pre-authorizations may also show on your account for longer.

Do pending charges affect credit score?

No, pending transactions count against your available credit but since they have not posted to your balance yet, it won’t affect utilization.

What happens if a pending transaction expired?

Usually transactions post before the pending transaction expires. However, the merchant may not claim the funds before the hold is released. If this is the case, it’s important to remember your available balance no longer reflects this transaction and will be reduced again when the transaction posts to your account.

How long do Pending transactions expire?

Most pending transactions clear in a day or two, but some may take up to a week. At 5 days you may want to contact your bank or the merchant if you don’t know why it would still be pending.

Why do pending charges disappear?

That’s because a pending transaction on a credit card will simply limit your available credit balance. A pending transaction on your debit card, however, will limit access to the actual funds in your account for as long as it takes the transaction to disappear.