Full Review of Apple Credit Card
- Offers competitive-to-high cash rewards rate
Reading: Apple Credit Card Review
- Has no fees
- well integrates with Apple Pay
- Offers the ability to pay for Apple purchases in installments
- Rewards rate is depleted if you do n’t use Apple Pay
- Requires an iPhone for manipulation
- Requires Apple Cash to redeem rewards
- Earn 1%–3% Cash Rebates on Purchases: The Apple Card rewards you with cash back, or “Daily Cash,” as Apple calls it, on every purchase. The amount of cash you can earn depends on what you buy and how you pay (i.e., the physical card or Apple Pay). Overall, the three tiers of cash rewards are comparable to what you can find with other cash back credit cards. Daily Cash rebates on Apple purchases are available upfront and are immediately deposited to your Apple card to use as you please.
- Has No Fees: Many card companies are cutting back on fees, but the Apple Card comes with absolutely none. Not regular ones, like annual fees. Not punitive ones, like for late payments or going over your credit limit. Not special-event ones, like for foreign transactions or currency exchanges.
- Easily Integrates with Apple Pay: The Apple Card is designed to be used with the Apple Pay mobile payment app. The card lives inside the Wallet app on your mobile device and you can sign in to use it with Apple Pay for purchases online or in-store. That makes it a highly convenient card option if you’re already using Apple Pay for purchases.
- Offers the ability to pay for Apple purchases in installments: Another feature available allows most Apple purchases to be paid in installments over time with no interest. Cardholders can simply select Apple Card Monthly Installments when they shop in Apple Stores, on Apple.com, or on the Apple Store App and get low monthly payments with zero interest.
- Rewards Rate Is Low if You Don’t Use Apple Pay: Not every merchant accepts Apple Pay yet. That doesn’t mean you can’t use your Apple Card to spend money at those merchants, but it does mean you earn cash back at the lowest tier—1% Daily Cash on your purchases.
- Requires an iPhone for Use: If you don’t have an up-to-date iPhone, you won’t be able to use the Apple Card. Specifically, you have to have an iPhone running iOS 15.1.1 or later for it to work. That’s limiting for people who are Android users or have an older iPhone that can’t be updated.
- You Need to Set up Apple Cash to Redeem Rewards: Apple gives you multiple ways to redeem the Daily Cash rewards you earn. The caveat is that if you want to redeem for anything other than statement credit, you’ll need an Apple Cash Card account. It’s not difficult to set this up through the Wallet app, but it’s an extra step that’s worth noting.
This Card is Best For
Seeks to maximize cash back earnings across spending categories
Cash Back Strategist
Resists or refuses an annual fee on principle or due to cost
annual Fee Averse
Affinity creates desire for rewards and perks with particular brand
Apple Card is designed foremost and foremost for iPhone users who already use apple Pay as their prefer digital wallet app. In terms of cash back likely, it ‘s most rewarding for a ) people who are into all things Apple, from devices to downloads, and bel ) consumers people who regularly make purchases from their fluid device. And of course, Apple makes it a easy as possible to manage your report through the app so you do n’t have to chase down wallpaper statements or try to remember where you spent money .
beyond that, you may like this batting order if you ‘re looking for cash back rewards with no annual fee and no alien transaction fee .
Rewards Earning Details
Cardmembers earn day by day Cash rewards every time they spend. There are three tiers of rewards you can earn :
- 3% Daily Cash: Applies to purchases made at Apple stores, Apple.com, the App Store, and iTunes. Members also earn 3% Daily Cash when they use their card with Apple Pay at Walgreens, Panera Bread, Exxon Mobile, Nike, and in T-Mobile stores.
- 2% Daily Cash: Applies to all Apple Pay purchases, across every spending category.
- 1% Daily Cash: Applies to any purchases made outside of Apple Pay.
Each clock time you earn daily Cash, it ‘s credited to your Apple Cash Card in the Wallet app. There are no limits on the amount of Daily Cash you can earn and no restrictions on where you can earn cash rewards. But as you can see, you ‘ll get the most rewards prize from purchases when you shop at Apple or using Apple Pay .
Rewards Redemption Details
once day by day Cash is credited to your Apple Cash Card, it ‘s yours to do with more or less as you please. For model, you could :
- Make purchases in-store, online, or in-app
- Make a payment toward your Apple Card balance
- Transfer cash rewards to a linked bank account
- Send money to friends and family through Messages
Rewards can be redeemed from any Apple device, including your iPhone, iPad, Apple Watch, or Macbook. To see how a lot cash you have to redeem, you just open the Wallet app and tap your Apple Cash Card. You can check how much daily Cash you ‘ve accumulated at a glance .
Remember, though, without the Apple Cash Card, you can only redeem cash rewards as a affirmation credit against your Apple Card balance .
How to Maximize Your Rewards
Maximizing rewards with the Apple Card is all about strategic outgo. First, you ‘ll want to use the card to pay for any Apple purchases you plan to make, including things like recurring subscription services. This will get you that juicy 3 % daily Cash rewards rate .
future, you can continue earning 3 % day by day Cash by using your menu at that short list of partner merchants mentioned above. If you spend $ 20 a day on flatulence from Exxon Mobile or items from Walgreens, for model, that ‘s $ 219 a year you could pocket .
Using your menu with Apple Pay everywhere else is the third base way to maximize rewards, scoring you that cash back at the 2 % rate .
What you might want to consider, however, is skipping using this tease at merchants or websites that do n’t accept Apple Pay. For exercise, if you regularly buy groceries from a epicure grocery store in your neighborhood that does n’t take mobile payments you might be better off with a wag that pays 2 % or 3 % back at supermarkets rather .
Apple Credit Card ‘s Outstanding Benefits
- Get weekly and monthly spending summaries
- Use Maps to pinpoint your spending by geographic location
- Easily filter purchases by category or merchant
- Use interest calculator and smart payments features to help figure monthly payments
- Due date reminders
- Real-time fraud protection
- Customer service chat assistance
This circuit board scored first position in J.D. Power ‘s 2021 Credit Card Satisfaction Survey for Midsize Issuers. The study highlighted the card’s benefits and services, communication, recognition card terms, interaction, key moments, and rewards .
In terms of cardholder experience, this poster is designed to make spending and managing your score as seamless and easy as potential. You just open the Wallet app and rap to navigate through the diverse screens .
You can view your purchases by class or merchant to see where you ‘re spending the bulk of your budget each calendar month. You can besides create easy-to-read summaries of hebdomadally and monthly spending. Payments are always ascribable on the last day of the calendar month and Apple automatically sends payment reminders so you do n’t miss your due date .
Apple Card incorporates respective security features, including real-time fraud protection. This card comes with the like security protections as Apple Pay, including a alone device number that ‘s locked in your Secure Element, Face ID, and Touch ID access, and tokenization of your transactions. The physical Apple Card, which you ‘ll need to pay at locations that do n’t accept Apple Pay, does n’t have your card numbers or CVV number printed on it for add security. If you lose your poster or it ‘s stolen, you can cursorily freeze it through the Wallet app .
Fees to Watch out For
” Fees do n’t help you. So we do n’t have them, ” the Apple site boasts. And indeed, there are no annual fees, recently requital fees, or alien transaction fees. But of path, your unpaid balance will continue to accrue interest at the regular annual share rate ( APR ), which is a variable rate ranging from 11.24 % to 21.24 % .
true, it ‘s early days for the Apple Card. Apple made some tweaks shortly after the tease ‘s debut and may continue to do so .
As of now, getting the Apple Card makes the most sense for you if you already use Apple Pay frequently for purchases and you like the idea of a fee-free calling card that offers cash-back options. You ‘ll get the best rewards pace when you spend on Apple Purchases or at the choose handful of spouse merchants that earn 3 % back. The 2 % cash back reward rate you can get on Apple Pay purchases is properly, but there are cards that can offer better cash rewards, careless of which mobile payment app you use .
On the other hand, you wo n’t pay an annual fee and the poster can guide you on how to pay off balances to minimize interest charges, both of which could save you money.
however, the Apple Card may not be the best option if you ‘re looking for a way to earn travel miles or points via flights, hotel stays, or car rentals. It doesn ’ t have any specific affiliations with travel-industry vendors ( at least, not even ). so if you ’ re a frequent flyer/traveler, you may be better off with another card, despite Apple Card ‘s miss of currency substitution or foreign transaction fees .
overall, the biggest limitation for this card may be Apple Pay adoption. While it ’ s the largest mobile-payment chopine, with the list of merchants that accept it drawn-out and growing, it ‘s still not an option everywhere. If that ’ s the case, you can use the forcible Apple Card, but then you alone get 1 % in cash back, which is reasonably standard nowadays .
Having another cash back wag to use as bet on up can help you avoid missing out on opportunities to earn maximal rewards .