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Card is at set amount when starting out say $1000.00. You used card for several purchases. The total is $300. You made payments at the minimum, say $20/mo. You paid $60 on account so. To get your card back to the original 1000.00. How much would I have to pay?
iPad, iPadOS 17
You need to remember that the people here are not "Apple". This is not official Apple Support. (And most of us are also seniors but we do not necessarily think that means we are incapable of doing complicated things). We are simply users of Apple products like yourself who want to try to help others about Apple's products. If you have a problem finding the power button on your iPhone, we're the people who can help you. You have asked us to do a financial management task for you that is not a technical question about Apple products. Anybody with a credit card from any issuer could have payment questions. We don't even have enough information to try to do the calculations for you since it involves knowing the interest rates (which only you can find out for your account). We do not want to know anything about your accounts -- it would get removed if you even posted it. Everything posted here is visible to the entire world.
I suggest you contact the support number for your Apple Card. Here's an article that has that information About Apple Card payment assistance - Apple Support
Hold on... Let me find a pencil and piece of paper. Is this going to be on the test? ;-)
I have no Idea what the interest rate is. Where would I find this? For now, I have stopped using the card. I have added the bills that I was paying from checking to the card. I want to know what my new monthly payment would be. So I can just pay one single payment instead of all these little ones. I'm looking for an estimate at this point in the game. I want to have an idea of how much I would have to pay. Not sure if I will continue paying my bills this way or not. Just trying things out.
No I don't. I'm a Senior, living on a fixed income. Can't afford such luxuries like that. If you can't figure this out either....then I was right; Apple needs to re-think and re-design their statements so that it's easy for people to understand. Thank you for your time. Bye
It’s easy to calculate a payoff amount, if that’s what you want. How much do you owe and over how many months do you want to pay it off. No payoff is guaranteed because the Apple Card, like all credit cards, have a variable interest rate that roughly tracks the prime rate as determined by the Federal Reserve Bank. But if you just provide you amount amount currently due and how many months you want to pay it off, I can calculate that for you.
What is the interest rate? How is the interest compound, daily or what? Will you make any additional charges or have you stopped using the card?
How much can you pay?
This is getting (had already gotten in the starting post) well beyond the scope of this forum. The financial backers for Apple Card offer a variable percentage rate so it is a number you would have to know from your statements and account information.
I was only half-joking about this being "on the test" because I remember doing this kind of calculation in grade school. Calculations get complicated when you are dealing with compounding interest. So again I was half-joking when I said I would need a pencil, and indeed several sheets of paper.
Do you have a financial advisor?
Thank you for the 411.
Zero out balance to bring back to starting amount
