Apple Card billing discrepancy

etsuko916 wrote:

I assume there is no pending transactions.

No need to assume there are no pending transactions, it is clearly listed as seen here. And as Chattanoogan explained, you can have a pending charge on April 30 that will show on that statement, but won't be finalized or payable until May due to the previously explained reasons. This does not affect the Grace period you have to pay it without incurring an interest charge.

You can see Pending charges in the list of Transactions in the Wallet app. Usually a pending transaction will be processed in 1-3 days. In rare circumstances a business may not finalize the transaction on their end until after that. This is common when you pay for a meal at a restaurant and they give you the receipt where you can add a tip. The pending charge is the meal charge, but the business will manually add the tip amount before the transaction is finalized.

The person you talked to was correct that the total includes the pending charge as it is expected to be finalized with that total, but it will not let you pay for any pending transactions because they can be adjusted or even cancelled by the business.

Suggest you review in detail the AppleCard’s terms and conditions.

How charges a posted and payments and interest calculated are all explicitly explained.

Pay particular attention to “Grace Period.”

There is nothing “shady” going on.

https://www.goldmansachs.com/terms-and-conditions/Apple-Card-Customer-Agreement.pdf

Re: “… All the transactions occurred in April should be in apple wallet April statement …”

Not necessarily an accurate statement.

Some transactions listed in your Wallet from late-March might have been posted to your 30 April Statement …

… Similarly other transactions listed from late April, might not be posted until your 31 May Statement.

GS is not “cheating” … they don’t need to … much like casinos, they make plenty of money by simply following the rules.

In addition to the specific T&C, this is also a good resource on how CCard calculations generally work:

https://www.consumerfinance.gov/consumer-tools/credit-cards/

You’re welcome. I hope you can relax and enjoy the rest of your weekend!

They are not pending any longer, but when the statement closed on the end of the month, the pending charges had not been processes yet. You would be able to identify which ones were pending by getting the exact discrepancy you saw and it will be equal to the last few transactions at the end of the month that were pending when that billing period closed.

Anyways, you need to do whatever makes you comfortable and I am not here to convince you to use the service if you do not want to. I have used the Apple Card for many years now and use Bankitivity software to reconcile the account. I don't bother matching the monthly statements, but do reconcile every transaction with what I pay and there has never been any discrepancy and have never had any interest charge.

Statement balance is what must be paid by the due date (last day of month) to avoid interest charges. Account balance is what the total amount owned on the account. The discrepancy is the difference between the two balances, and is the result of any installment plans, pending charges and charges for the current month (if no interest has been charged in prior two months).

Lets see if there is an explanation for the discrepancy.

Do you have any Apple Card Monthly Installments active?

In March and April did you pay the account balance or the statement balance?