Apple Credit Card Review (2023): Pros, Cons, and Benefits

Wondering if the new Apple credit card is worth signing up for? Here’s a comprehensive breakdown of what to expect, including pros, cons, and benefits.


Apple’s new credit card, the Apple Card, is now available to consumers in the United States. The Apple Card is a cash-back credit card that offers 3% cash back on purchases from Apple and participating partners, 2% cash back on Apple Pay purchases, and 1% on all other purchases.

There are no annual fees, foreign exchange fees, or late fees associated with the card. Cardholders can access their account information, view transaction history, and make payments through the Wallet app on their iPhones.

In this blog post, we’ll take a look at the pros and cons of the Apple Card and whether or not it’s right for you.


Quick Facts

  • It won’t take long to register and you can begin using Apple Pay immediately.
  • Earn 3% back on any purchase from Apple, regardless if you shop at an Apple Store, apple.com, the App Store, or iTunes.
  • Earn 2% in Cashback every time you purchase with Apple Pay. That applies to all product categories, with no restrictions.
  • Apple Card provides you with 1% off all other purchases in the form of Daily Cash refunds.
  • Every time you buy something, you’ll receive Daily Cash. It’s actual cash that can be used in whatever way you desire, directly from your iPhone.
  • The Apple Card carries no charges whatsoever – no yearly cost, no extra fees for cash withdrawals, exceeding the limit, or being late on payments. Absolutely zero fees.
Is Apple Card really worth it
Is Apple Card really worth it

WHY SHOULD YOU APPLY FOR APPLE CREDIT CARD?

Let’s start by taking a look at the pros associated with signing up for the Apple Card.

State-of-the-art security features

When it comes to credit cards, there are a lot of options out there. So why should you choose the Apple Credit Card? One reason is the state-of-the-art security features. With this card, you can be sure that your personal information is safe and secure.

No Annual Fees

There are plenty of reasons to consider applying for the Apple Credit Card. For starters, there are no annual fees associated with the card, which means you can keep using it year after year without having to worry about renewing your membership or paying any additional fees.

Other metal credit card charges hefty annual fees.

Excellent rewards

The Apple Card also has excellent rewards. You get three percent cash back on purchases made from Apple, two percent cash back on purchases made using Apple Pay, and one percent cash back on all other purchases.

3% cashback: The Apple Credit Card is one of the best cash back card on the market for rewards. You get 3% cash back on all Apple Pay purchases, as well as Uber and Uber Eats purchases.

You also get 3% cash back at Walgreens and Duane Reade stores. And if you use Apple Pay to pay for your T-Mobile service, you’ll get 3% cash back on that too. Plus, you’ll get 3% cash back on Nike purchases made through Apple Pay.

And finally, you’ll get 3% cash back at Exxon and Mobil gas stations when you card with apple pay. So if you’re looking for a credit card with great rewards, the Apple Credit Card is the way to go.

2% Cashback: When it comes to everyday purchases, Apple Card will give you 2% cash back on all purchases made via apple pay. That means that if you’re shopping in-store or online, as long as you check out with your phone, you’ll get the rewards.

1% cashback: The Apple Credit Card also offers 1% cash back on all other purchases. That means that if you’re not using Apple Pay, you’ll still get a small reward for your spending.

Instant approval and use

The Apple Credit Card stands out from other credit cards due to its fast approval process; you can immediately begin using the card without having to wait for a physical one to arrive in the post.

Regarding earning and redeeming your rewards, they are posted daily and can be used almost immediately. As opposed to other cards that offer rewards, you don’t have to wait until the end of your billing cycle.

So if you’re looking for a great credit card with no annual fee, instant approval, and great rewards, then the Apple Credit Card is the best choice for you.

0% intro APR on purchases

Have you ever been interested in purchasing an Apple product, but been put off by the high price tag? Well, the Apple Credit Card could be a great option for you. With Apple Card Monthly Installments (ACMI), you can get your hands on the latest iPhone, iPad, or Macbook and pay it off over time with 0% APR.

That means no interest charges – which can add up if you’re not careful! And because ACMI is only available for purchases made in-store or through the Apple Store app, you know you’re getting a quality product. So why not check out the Apple Credit Card today? You might be surprised at how affordable those must-have Apple products can be.

Accepted Everywhere

There are plenty of good reasons to use an Apple Credit Card. For starters, it’s accepted by a huge number of retailers – over 70% of them. That includes all the big names like Target, McDonald’s, CVS, and Best Buy. So wherever you shop, chances are you can use your Apple Card. And if you travel overseas, you’ll be pleased to know that there are no foreign transaction fees.

That’s because the Apple Card is part of the Mastercard network, which is accepted all over the world. So whether you’re at home or abroad, you can use your Apple Credit Card with confidence.

No penalty rate or late fee.

Apple has a fantastic credit card for people who wish to build their credit rating. There is no penalty rate or additional fee for late payment, which is a great benefit for those who may miss a payment. Nevertheless, it’s important to remember that past due or defaulted payments can still cause extra interest to be added to the balance.

It is advisable to pay the full amount due and on time as late payments may still have a detrimental effect on your credit scores. All things considered, the Apple credit card is an excellent choice for individuals who desire to enhance their credit ratings and bypass high-interest costs and fees.

You can share your account with family

In April 2021, Apple Card Family was introduced, granting individuals the chance to share a single card account with up to five different people. It is possible to assign a co-owner who will be equally liable for settling the dues and also permitted users (known as “participants”).

Credit reports from all three significant credit bureaus are issued for both co-owners and participants aged 18 or above who have given their consent for credit reporting.

Members of an Apple Card Family can receive Daily Cash from their purchases and keep all the rewards they get. You may form a family unit on your Apple Card account in the Wallet app by including other people. After they’re included, you can determine if they will be a joint owner or just an active member.

If you’re setting up an Apple Card Family for the first time, you’ll need to be the primary cardholder. The primary cardholder is the only person who can manage the account, including adding and removing members, changing spending limits, and deciding who gets Daily Cash.

If you’re not the primary cardholder but would like to be, you can ask the current primary cardholder to transfer ownership to you.

The promise of data privacy

Apple Card users get the assurance of knowing their data is protected. Apple uses strong encryption to store and transmit your account information, so you can be sure that it’s secure. Plus, they don’t share any of your data with marketing companies or third-party advertisers.

All purchases made with an Apple Credit Card are also anonymous. That means merchants don’t get access to any of your personal information, so you can shop with peace of mind.

No Forex Charges

Another great perk of the Apple Credit Card is that there are no foreign transaction fees. If you’re planning a trip abroad, this can save you a lot of money on purchases made in another currency.

Plus, the card also supports contactless payments using Apple Pay and other mobile wallets, making it easier to make secure payments wherever you go.

Now that you know the pros of using the Apple Credit Card, it’s time to check out the cons.


Why You Might Want to Avoid the Apple Card

The Apple Credit Card has a few drawbacks that you should consider before signing up.

You spend a lot of money on everyday items in specific categories.

If you’re a big fan of Apple products, you might be tempted to sign up for the Apple Card. After all, it gives you 3% cash back on every purchase apple card with apple pay. But there are a few things you should know before you do.

First of all, the Apple Card only gives you 1% cash back on purchases made outside of Apple. So if you’re spending a lot of money on everyday items in specific categories, you might be better off with a different credit card.

The Blue Cash Preferred® Card from American Express gives cardholders 6% cash back on spending at U.S. supermarkets, up to a yearly cap of $6,000 (then 1%); 6% cash back on chosen U.S. streaming services; 3% cash back for U.S. gas stations and transit expenditures (including taxis, ride shares, parking fees, tolls, and trains or buses); and 1% cash back on all other acquisitions.

The Capital One SavorOne Cash Rewards Credit Card gives 3% money-back on eating out, groceries and amusement, including streaming services, with 1% money-back on everything else.

So if you’re looking for a credit card that will give you the most bang for your buck, you might want to skip the Apple Card and go with one of these other options instead.

High Regular APR

The Apple Card is a great option for those who frequently make purchases from Apple or who often pay for their devices in full. However, the card’s high regular APR can be a drawback for those who need to carry a balance or who regularly make other kinds of purchases.

If you’re looking for a card with a lengthy 0% intro APR offer on all purchases, you would be better off with another option. However, if you are looking for a way to earn rewards on Apple products and services, the Apple Card is worth considering.

Not all accept the Apple pay

The Apple Card is created by Apple and issued by Goldman Sachs. It’s designed to be used with Apple Pay, which is the company’s mobile payment system.

While Apple Pay is accepted at most major retailers, there are some notable exceptions, including Walmart and Costco. In addition, smaller merchants such as food trucks, mom-and-pop stores, and bodegas may not accept Apple Pay.

However, the Apple Card can also be used as a physical card or virtual card number stored securely in your Wallet app , which is run on the Mastercard network. This means that you can use the Apple Card anywhere that Mastercard is accepted.

No Sign-up Bonus

Unfortunately, the Apple Card does not provide a sign-up incentive, which is a real letdown for those wanting to score some complimentary travels. Fortunately, the Bank of America Travel Rewards credit card has an outstanding sign-up reward that can give you a free trip. This card with no yearly charge yields 1.5 points per dollar in all purchases and offers an exceptional sign-up bonus.

If you’re ready to spend the yearly charge of $95, you’ll be able to get additional perks in frequent spending areas such as voyaging and eating out with the Chase Sapphire Preferred Card. Furthermore, there’s a fantastic introductory offer included with this card. Points become more valuable when redeemed for trips through the Chase gateway with this card, and you can also move your points to multiple airline and hotel reward schemes.

So if you’re looking for a credit card with a sign-up bonus that can help you earn some free travel, you might want to avoid the Apple Card and go for one of these other cards instead.

If you are an Android user

The Apple Card is a clear attempt by Apple to lure its users deeper into its ecosystem. And while there are some benefits to using the Apple Card, if you’re an Android user, you might want to think twice before signing up.

One of the biggest drawbacks is that to use Apple Pay, you must have an iPhone model that supports it (iPhone 6 or apple device).

So if you’re committed to a different mobile wallet, such as Samsung Pay or Google Pay, the Citi® Double Cash Card might be a better choice.

If you don’t want to commit to using Apple only, then the Citi® Double Cash Card may be a better option for you as it will give you 2% cash back on all purchases – 1% when you purchase and 1% when you settle. What’s more, it is compatible with any digital wallet.

Before You Can Redeem Your Rewards, Set Up Apple Cash

One of the main things to be aware of is that you need to set up an Apple Cash account to redeem your Daily Cash rewards. This isn’t necessarily a bad thing, but it’s something you should be aware of before you apply for the card.

Setting up an Apple Cash account is easy to do through the Wallet app, but it’s something you’ll need to take into consideration when deciding whether or not the Apple Card is right for you.


Alternative to apple credit card

The Apple Card is a great option if you’re heavily invested in the Apple ecosystem and want to earn rewards on your purchases. However, there are other cards out there that might be a better fit for your needs.

Let’s check out some of them:

Wells Fargo Active Cash® Card

Wells Fargo Active CashSM Card
Wells Fargo Active CashSM Card

When looking at Apple Card vs. Wells Fargo Active Cash® Card, the latter is ideal for those in search of a no-annual-fee credit card with a consistent rate. With Wells Fargo, you can gain unrestricted 2% cash rewards on all purchases and get an advantageous welcome bonus of $200 cash rewards after spending $1,000 within the initial three months.

Your earnings can be used to cover past purchases, act as a credit for a qualifying Wells Fargo account, buy gift cards, or be withdrawn as cash from an ATM using an associated Wells Fargo ATM or debit card.

There’s no annual fee with Wells Fargo Active Cash®, so it’s worth considering if you’re looking for an easy way to get the most out of your spending.

Chase Freedom Flex

Chase-Freedom-Flex-Credit-Card
Chase Freedom Flex Credit-Card

The Apple Card and the Chase Freedom Flex are both great cash-back credit cards with unique reward structures. The Apple card gives 3% cash back on everything you buy at apple, 2% cash back on all other purchases made through Apple Pay, and 1% cash back on all other purchases.

The Chase Freedom Flex℠ card offers a 5% cash rebate on up to $1,500 in changing categories each quarter (activation necessary), 5% on trips bought through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other buys.

If you’re looking for a card with no annual fee and a generous rewards structure, the Chase Freedom Flex℠ is the better choice. However, if you’re looking for a card that will give you extra cash back on all your Apple purchases, then the Apple Card is the better choice for you.


Other Card Benefits

Free Financing On Select Apple Products:

Apple Card provides a great way to make apple purchases without interest for up to 12 months. Plus, when you use the Apple Card to make eligible apple purchases, you will earn 3% cash back on those purchases. That’s why many consumers have taken advantage of this offer and used the Apple Card in their apple-related shopping experiences.

Made of Metal

The Apple Card stands out from other credit cards with its sleek titanium construction. This metal material makes it durable and lightweight, making it a great choice for those who are looking to avoid bulky plastic cards. Plus, this unique design is also scratch-resistant and will last longer than other cards on the market.

Mastercard Network

The Apple Card is backed by the Mastercard Network, a trusted name in the credit card industry. With this backing, you can be sure that your apple purchases will be protected with ID theft protection and access to priceless experiences. Plus, with a 24-hour hotline to report lost or stolen cards and get replacements quickly, you can trust that your apple purchases will always be protected.


How to redeem Cashback

Redeeming cash rewards from your Apple Card is simple and convenient. To do so, just open the Wallet app on your iPhone, iPad, Apple Watch, or Macbook, and tap your Apple Cash Card. You’ll see how much Daily Cash you have available to spend. Then just choose the redemption option that best suits your needs.

Most of the time, redeeming cash rewards as a statement credit against your Apple Card balance is the simplest option. Just make a purchase in-store, online, or in-app and your rewards will be credited immediately to your account.

You can also transfer cash rewards to a linked bank account or send money to friends and family through Messages. And of course, rewards can be redeemed from any Apple device—including your iPhone, iPad, Apple Watch, and Macbook.

So there’s no need to miss out on special deals or benefits because you don’t have an Apple Cash Card. Just use it to easily and conveniently redeem your cash rewards wherever and whenever you want.


How to Maximize Your Apple Card Cash Rewards

Whenever possible, make using your apple card for any purchases from Apple or at partner merchants for 3% Daily Cash.

When shopping anywhere else, use Apple Pay to get 2% cashback. To maximize your rewards, even more, consider using a different card at merchants that don’t accept Apple Pay yet.

With just a little bit of extra effort, you can easily earn the most rewards with your Apple card to use!


Customer Experience

The Apple Card is one of the most customer-friendly credit cards on the market. It scored first place in J.D. Power’s 2021 Credit Card Satisfaction Survey for Midsize credit card issuer, based on benefits and services, communication, credit card terms, interaction, key moments, and rewards.

The card is designed to make spending and managing your account as seamless and easy as possible with the Wallet app. You can view purchases by category or merchant, create summaries of weekly and monthly spending, set payment reminders, and more.


Our Verdict: Is Apple Card really worth it?

So, is the Apple Card worth signing up for? If you frequently use Apple Pay and want a fee-free card with cash-back options, then it could be a great choice.

Otherwise, there are likely other cards that will offer you better reward rates on your spending. Keep in mind that the Apple Card does have some benefits – like no annual fees and helpful tips for paying off balances – so weigh those against the potential rewards before making a decision.

Hope this apple credit card review was helpful! Good luck with whatever you decide.


Is Apple Card a good card to have?

Apple Credit Card Review (2023): Pros, Cons, and Benefits

So, is the Apple Card worth signing up for? If you frequently use Apple Pay and want a fee-free card with cash-back options, then it could be a great choice. Otherwise, there are likely other cards that will offer you better reward rates on your spending. Keep in mind that the Apple Card does have some benefits – like no annual fees and helpful tips for paying off balances – so weigh those against the potential rewards before making a decision.

Editor's Rating:
3.7

Pros

  • State-of-the-art security features.
  • Management tools to help you get out of debt and spend less.
  • No annual fees.
  • This titanium card has no numbers, making it unique.
  • The promise of data privacy

Cons

  • A measly 1% cash back on App Store or Apple Pay outside purchases.
  • You must have Apple hardware and use Apple Pay.
  • No welcome bonus.
  • A physical card must be requested to use the service.

Is there a downside to Apple Card?

There are a few downsides to the Apple Card. Primarily, it offers lower rates than other flat-rate cash-back cards on the market, and you can’t get the elevated rates simply by using the physical card.

Additionally, since the card is linked exclusively to Apple Pay, there may be less adoption among consumers, which could limit its reach.

Is Apple Card a good way to build credit?

Apple Card users can use the card responsibly to help build credit over time. To improve your credit score with the Apple Card, focus on making regular, on-time payments and keeping your

Does Apple Card Cover Car Rental Insurance?

The Apple Card is a great way to earn cash back on your everyday purchases, but it doesn’t come with all the bells and whistles of some other cards. For example, the Apple Card doesn’t offer a rental car insurance benefit.

So, if you’re planning to rent a car, you’ll need to make sure you have another form of insurance in place. you can still use your Apple Card to book and pay for your rental car.

And if you have any questions about using your card for a rental car, you can always reach out to Apple’s customer service team for assistance.balance low.

What credit score is needed for an Apple Card?

Apple Card uses a FICO Score of 9. FICO Score 9 ranges from 300 to 850, with scores above 670 considered good. Your credit score affects the interest rate you are offered on a credit card and the terms of your card.

A higher credit score usually means a lower interest rate and more favorable terms.

Why would someone get an Apple Card?

The Apple Card comes with a bevy of benefits for users, including no annual fees, 3% Daily Cashback on apple purchases and select partner merchants, and 2% cash back when using apple pay.

Additionally, the card is designed to make spending and managing your account as seamless and easy as possible with the Wallet app. You can view purchases by category or merchant, create summaries of weekly and monthly spending, set payment reminders, and more.

Overall, the Apple Card is a great option for users who frequently use Apple Pay and want a fee-free card with cash-back options.

Is it hard to get approved for Apple Card?

The answer to this question is not straightforward, as approval for the Apple Card is based on several factors, including your credit score. However, FICO Score 9, which is the score used by the Apple Card, ranges from 300 to 850, with scores above 670 considered good. So, if you have a good credit score, you’re likely to be approved for the card.

Can I get Apple Card with a 620 credit score?

With a credit score of 620, you may not be approved for the Apple Card. The card issuer, Goldman Sachs, uses a FICO Score of 9 when determining eligibility, and that score ranges from 300 to 850. A score above 670 is considered good, so if your credit score is below that, you may not be approved for the card.

What are the relevant APRs for Apple Card?

Apple Card’s APRs are pretty straightforward. If you qualify for the lowest APR (13.99%), that’s the rate you’ll get. However, if your creditworthiness isn’t as strong, you could end up with an APR as high as 24.99%. It’s important to note that rates are subject to change, so it’s always a good idea to check before you apply.

Also, if you miss a payment or make a late payment, you’ll be charged additional interest on your balance. So, it’s definitely in your best interest to stay on top of your payments.

Overall, Apple Card’s APRs are competitive with other cards on the market. So, if you’re looking for a new credit card, Apple Card is worth considering.

Should You Apply for the Apple Card?

The Apple Card comes with a bevy of benefits for users, including no annual fees, 3% Daily Cashback on apple purchases and select partner merchants, and 2% cash back when using apple pay.

Additionally, the card is designed to make spending and managing your account as seamless and easy as possible with the Wallet app. You can view purchases by category or merchant, create summaries of weekly and monthly spending, set payment reminders, and more.

Overall, the Apple Card is a great option for users who frequently use Apple Pay and want a fee-free card with cash-back options. If you have a good credit score, you’re likely to be approved for the card.

Is it possible to get pre-approved for the Apple Credit Card online?

Yes, it is possible to get pre-approved for the Apple Credit Card online. All you need to do is visit the Apple website and follow the instructions for applying for the card.

You will need to provide some basic information such as your name, address, income level, and other details. Once you submit your application, Apple will review it and contact you if they determine that you are eligible for pre-approval. After accepting the offer, you will be given a credit limit and terms of use that must be agreed upon before using the card.

The entire process can usually be completed within minutes. However, it is important to remember that this does not guarantee approval; your application may still be declined if Apple finds that you do not meet its criteria.

Does Apple Card have a foreign transaction fee?

The Apple Card does not have a foreign transaction fee, which is great news for those who travel abroad. This makes it an attractive option for people who need to make foreign transactions with their cards. With the Apple Card, you can make purchases in any currency and receive 1% Daily Cashback when you do so.

Additionally, you will benefit from Mastercard’s international acceptance and its Zero Liability protection policy that ensures your card is against fraud or unauthorized use.

You will also get access to exclusive offers and discounts on Apple services, products, and partners.

All this makes the Apple Card an ideal choice for frequent travelers looking for a convenient and secure way to make payments worldwide.

How do I pay for my Apple Card online?

One of the most common questions people have is how to pay their Apple Card bill online. The process is pretty simple.

All you need to do is go to card.apple.com and click on the Payments tab in the sidebar. Then, at the bottom of the page, you can either enter a payment amount or choose a suggested amount. If you’ve already made a payment or have one scheduled, you may need to click Pay Now.

Or, if you want to pay more than what is currently owed, you can click Pay More. And finally, if your account is set up for installments and you want to pay off your balance early, you can click Pay Installments Early.

That’s all there is to it! So next time you’re wondering how to pay your Apple Card bill, just remember these simple steps and you’ll be all set.

Does Apple Card automatically increase credit limit?

Apple Card doesn’t automatically increase your credit limit as some other issuers do. However, you can request an increase on your Apple Card at any time. Goldman Sachs, the issuer of Apple Card, will then review your request and make a decision based on your creditworthiness.

If you’re approved for an increase, you’ll typically see the new credit limit reflected in your Apple Wallet within a few days. Keep in mind that requesting a credit limit increase may result in a hard inquiry on your credit report.

Therefore, it’s important to be strategic about when you request an increase. If you have any questions about how to request an increase on your Apple Card, you can always reach out to Goldman Sachs for assistance.

What are apple card monthly installments?

If you’re thinking about buying a new iPhone, you may be wondering about Apple Card Monthly Installments (ACMI). ACMI is a 0% APR payment option available only in the U.S. that allows you to spread your payments for certain Apple products over two years.

With ACMI, you’ll pay for your new iPhone in 24 monthly installments, interest-free. So if you’re looking for a way to finance your new iPhone purchase without paying any interest, ACMI may be a good option for you.

Keep in mind, however, that you’ll need to make sure you have good credit to qualify for ACMI. If you’re not sure whether or not you’ll qualify, you can always check with Apple before making your purchase.

When does the Apple Card report to credit bureaus?

One of the benefits of the Apple Card is that it reports to the credit bureaus monthly. This means that your payment history and credit utilization will be updated regularly, which can help you to build or maintain a good credit score.

The Apple Card reports to all three of the major credit bureaus: Experian, TransUnion, and Equifax. Within days after the end of your monthly billing period, your account information will be updated on your credit report.

This can provide you with peace of mind knowing that your credit score is being accurately updated.

Does applying for an apple card hurt your credit?

Applying for the Apple Card doesn’t hurt your credit score, but if you’re approved and accept the offer, a hard inquiry is made on your credit report. This could hurt your credit score, but it’s generally not a significant one.

The inquiries stay on your report for two years, but their impact on your score diminishes over time. So, if you’re considering applying for an Apple Card, it’s not going to hurt your credit score.

But, if you’re approved and accept the offer, keep in mind that it could have a small negative impact on your score.

How can I get an Apple Card if I don’t have my SSN?

Apple Card is one of the most exclusive credit cards on the market. In order to get one, you must have a social security number – which can be a problem for immigrants or people without an SSN.

However, there are a few ways to get around this. First, you can apply for an Individual Taxpayer Identification Number (ITIN). This is a special number that the IRS issues to people who are not eligible for an SSN. You can also apply for a green card, which will give you an SSN.

Finally, there are a few banks that offer credit cards without an SSN. If you’re an apple card without ssn, there are still options available to you. Talk to your financial institution about what they require and see what options are available to you. With a little bit of research, you should be able to find a credit card that meets your needs.

About Author

Dhiraj Jha
Dhiraj Jha
As a personal finance and credit cards expert, I provide valuable insights and advice on budgeting, saving, investing, and debt management. I am also an expert on credit card rewards programs and help readers make informed decisions about which cards are right for them. My goal is to help people improve their financial literacy and make better financial choices.

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