Any new Apple product design and launch always gets the spotlight. Ordinarily, it can be overwhelming for any company to enter the credit card landscape. What’s impressive is that Apple managed to create a viable product with solid features that has been able to win over the credit card market.
Apple is famous for its diverse and interconnected ecosystem and it’s the same interconnectivity of the Apple Card that appeals to users. Apple calls it the reinvention of the modern-day credit card. For instance, if you’ve got an iPhone, you use the Apple Card in a matter of minutes to buy items.
As long as the vendor approves the card, you can get your mobile-based wallet payments accepted across the United States. What’s more is that Apple Credit Card holders can earn 3% on everything they buy from Apple. You can also earn 2% back on every purchase made using Apple Pay. Additionally, for every purchase you make using Apple Card, you earn 1% back.
In this review of the Apple Credit Card, you’ll learn about who made the Apple Credit Card and what makes it a perfect fit for users in the United States:
Apple Card Issuer
Goldman Sachs is the Apple Card issuer and continues to rank on top for credit card satisfaction. As the primary issuer of Apple Card, Goldman Sachs is performing extremely well and focusing on building long-term customer relationships.
Essential Features of Apple Credit Card
Titanium Construction of the Physical Card
Apple’s titanium-built sleek metal physical card is unique in its own right in the credit card marketplace.
Apple Product Financing without Interest
People can buy and finance apple products without paying any interest. Eligible purchases also help users earn 3% cash back.
Apple Account Sharing
It allows users to combine their credit card lines through co-owned accounts. It means you can combine your credit line by creating a co-owned account. Users can add over 4 participants to use their Apple Credit Card account.
Since Apple Card works on the Mastercard network, it features attractive perks like impeccable Mastercard user experience, 24/7 customer service, and ID theft protection.
Apple Credit Card Rates and Fees
Apple charges a $0 annual fee and doesn’t charge any fee on foreign transactions. APR is variable and can range from 15.24% to 26.24%.
Pros and Cons of Apple Credit Card
What Users Like
- No annual fees
- Spending and debt management tools
- Innovative security
- Heightened data privacy
- Unique titanium card
- Makes users eligible to buy Apple products in monthly installments without any interest
- Get cash earnings on the same day of purchase
- Check purchases through a geographical location or color-highlighted spending categories
What Users May Not Like
- It doesn’t offer a welcome bonus
- Users have to request a physical card
- Low cash back of 1% on all purchases outside Apply Pay
- Users need Apply Pay and Apple-supported hardware devices
How Apple Card Stands Out
The sign-up process to get Apple Card is straightforward, and you can cover the cost using Apple Pay. Many people get the Apple Card to get 3% back on every purchase they make on Apple Store, Apple App Store, iTunes, or apple.com.
Also, there are no limits on 2% back on every purchase using Apple Pay. For every item you buy, you can receive daily cash-back. It is up to the people how they want to spend this money using iPhone or iPad. Cardholders also don’t have to worry about having to pay annual fees, late fees, or exchange fees.
In fact, Apple Card gives users direct access to their cash-back earnings on the same day of their purchase. You can pair your Apple Card with a third-party app to help you make the most out of the credit card.
Are there Drawbacks to Using Apple Credit Card?
All physical card payments are eligible for 1% cash-back rather than 2% or 3%. The cash earnings based on the card’s structure are attractive, but they fall flat in a highly competitive credit card market where companies offer cards based on extensive rewards. Most folks would lean towards a credit card that is compatible across the U.S. and offers more diverse rewards like loyalty programs etc.
Apple Credit Card Rewards
The earning rewards on Apple Card are easy-to-understand for users and render rewards from 1% to 3% in cash-back. You can receive 3% cash-back on items you buy from Apple or their partners. Users can get 2% back of their earnings when they buy any product using Apple Pay.
1% Cash Back
If you make purchases with your physical titanium Apple Card, you can receive 1% in cash-back.
2% Cash Back
If you make purchases using Apply Pay, you can receive 2% in cash-back
3% Cash Back
If you make purchases at Apple or Walgreens, you can earn 3% in cash-back.
If you want to access Apple Card rewards, you will have to set up a dedicated Apple Cash account, which works as “Daily Cash.” In this Apple Cash account, you can receive all your Apple Card earnings and use your balance to buy more products.
You can continue the cycle of buying more products using Apple Pay and earn 2% cash-back. It makes the entire process to buy items using Apple Pay fun and exciting. You can also redeem and transfer funds through a text message to a friend or family member with an Apple Cash account.
You can also use the card to make other card payments. So, what happens if a user doesn’t set up their Apple Cash account? Well, their daily rewards would get accumulated and only apply to their Apple Card balance. In bonus categories, Apple Cardholders can also earn potential rewards.
What Makes Apple Credit Card So Appealing?
Apple is part of everyday life for most people living in the United States. You can leverage a 3% cash-back reward on a wide range of categories. For instance, you can use Apple Pay to buy Uber and Uber Eats items. Similarly, you can make Duane Reade and Walgreens purchases through Apple Pay.
3% Cash Back Reward
The 3% cash-back reward is arguably the most attractive feature of the Apple Card. Users can get 3% cash back on all purchases at the Apple store. Say you spend $100 at a merchant – now you can expect $3 cash back through Daily Cash. You can apply this amount as a credit balance or transfer it to your bank account. You can also earn a 3% cash-back reward on buying Nike products using Apple Pay.
Recently, getting the reward of 3% cash back has become the priority for many Apple buyers. And you don’t even have to be an Apple brand loyalist to see how it can make point-of-sale transactions easier. Apple Card also comes across as attractive to the young generation since it doesn’t propel them to wait until the next billing cycle like other reward-based credit cards.
Instant gratification and user satisfaction take a new meaning when you use Apple Card to travel across different U.S. cities and states using Apple Pay. Apply Card is also ideal for people who often forget to bring their cards and can use Apple Pay to buy items with more convenience.
Apple Card Family
You can use your Apple Card with your family members through a shared co-owned account. Initially, multiple users couldn’t access the Apple Card. But the roll out of “Apple Card Family” has expanded the ability of family members to use one account to buy items from vendors and merchants.
You also review the account activity of co-owners or account participants. It also makes credit reporting easier for users. Each Apple Card family member can receive Daily Cash via purchases. Remember that earned rewards get transferred to the main cardholder. In any case, it is a new type of user arrangement that continues to get more and more famous over time.
Why You Would Want to Get an Apple Credit Card in 2023
There are many perks and reasons to get Apple Card. Mostly, it’s the zero annual fees on Apple Card with cash back that attracts the most users. While Apple Card works on selected merchants and vendors, if you live in the States, you’re most likely to make the most out of Apple Credit Card.
You can use the titanium version of the Apple Card at any merchant that accepts Mastercard. Users have access to a long list of retailers and merchants to use their titanium Apple Cards and get a 1% cash-back reward. But if you want to earn 2% or 3% rewards, you’ll have to use Apply Pay. Whether you want to use Apple Pay or a titanium Apple Card at a merchant or a retailer comes down to your preference and the reward you want to get.
As long as you’re creditworthy, you can tap into the best attributes of Apple Card. While Apple Card wants to make its name in the credit card marketplace, many other credit card companies offer more diverse and compatible credit cards with solid rewards programs.
Apple Credit Card was rolled out with the association of Goldman Sachs across the Mastercard network. In this Apple Credit Card review, we focused on the essential perks and how it makes spending and debt management easier for users and reward shoppers with 1-3% cash back on the same day.
The highlight of the Apple Credit Card is that it doesn’t charge an annual fee and offers elevated rewards to users across all purchases at selected vendors. The Apple Credit Card features attractive rewards and is ideal for users who regularly use Apply Pay to make purchases.