Apple Card Review

Who is the Apple Card for?

The Apple Card is a great card for customers who are loyal to Apple products and want to enjoy greater flexibility in how they pay. The Apple Card works seamlessly with Apple Pay to help users monitor their monthly statements and pay with ease at thousands of merchants. With the option of contactless payments through Apple Pay or physical payments through the Apple Card, this card is ideal for customers looking to smooth out their shopping experience.

This card also offers an attractive cashback feature that rewards customers 3% daily cashback on Apple purchases, 2% daily cash back on purchases made on Apple Pay, and 1% daily cashback when using the Apple Card. 

Given that the Apple Card only works with Apple devices, owners of this card must have an Apple device to register for this card. People with Androids or other phones must consider other options.

No Fees

Do you want a card with no hidden fees? Well, the Apple Card boasts a $0 annual fee, no late fee, and no over-the-limit fee. As part of its goal to introduce greater transparency in the credit card industry, Apple makes it easy for cardholders to shop without having to worry about incurring any pesky fees. In addition, the $0 late fee doesn’t penalize cardholders for missing a payment on time. While one’s APR may go up, cardholders don’t need to overstress themselves about incurring late penalties. Lastly, Apple doesn’t charge a fee if cardmembers spend more than their credit limit on their balances. With all of this in mind, the lack of fees makes the Apple Card a strong card to keep in mind.

Rewards
Unlike many other credit card rewards programs that use points or miles to reward cardholders, the Apple Card uses a daily cash back feature that rewards users every day on their purchases. After spending cash through Apple Pay or the Apple Card, cardholders receive a percentage of their purchases as cash back into their accounts at the end of the day. So, cardholders can enjoy the benefits of Apple’s rewards program immediately instead of having to wait for the end of the month.

As part of its cash back rewards program, Apple offers 3% cash back on Apple purchases. For avid Apple product enthusiasts looking to try the new iMac desktop, a 3% cash back feature on their purchases will prove extremely useful in helping them save money. In addition, Apple gives 2% cash back on purchases made through Apple Pay and 1% cash back on purchases made with the physical Apple Card. As a result, cardholders may find it more beneficial to use Apple Pay instead of the Apple Card at accepting merchants.

Finally, Apple has partnered with Uber, UberEats, T-Mobile, Nike, Duane Reade, and Walgreens to offer 3% cash back at these merchants. Now, cardholders can enjoy great cash back rewards at the places they shop often. 

Benefits

The main benefit of the Apple Card is the flexibility it provides with paying virtually and physically. At select merchants, cardholders can use contactless payment through Apple Pay to quickly pay for an item. For online stores that don’t accept Apple Pay yet, the Wallet App will generate a virtual card number for consumers to use. Lastly, the Apple Card is run through Mastercard, so it can be used all over the world. The widespread acceptance and seamless Apple device integration makes the Apple Card an especially useful card for Apple owners to use.

At any time, cardholders can view their Apple Wallet on their iOS devices to view their purchase history. Apple breaks down the expenses into different categories, such as Entertainment, Food & Drinks, and Shopping. This feature makes it easier for cardholders to analyze their shopping patterns and adjust them if needed. The Apple Wallet will also show the location of all the purchases, making it easier for cardholders to identify unauthorized payments.

As part of the Wallet App, cardholders can see when their next monthly installment is due and the remaining balance on the card. When cardholders make their payments, Apple also calculates the interest consumers will incur based on the amount they choose to pay. This feature is great for saving costs because it helps cardholders calculate the payment plan that would cost them the least after interest.

For cardholders looking to buy a new iPhone, Apple offers an interest-free monthly installment plan to pay off the purchase. Furthermore, cardholders can even trade in their current iPhone to receive even smaller monthly payments. This monthly installment plan is helpful for cardholders looking to upgrade devices without having to face a large cost upfront.

Services and Protections

Given the integration of the Apple Card with iOS devices, Apple makes it even easier for cardholders to reach out to Apple Support through text message. Cardholders have 24/7 access to support and can update their addresses or other personal information through text message.

For every purchase, Apple also requires either Face ID or Touch ID to authorize the purchase. This security protocol is used to ensure that if an iPhone gets stolen, no purchases can be made from the device.

The Apple Card also doesn’t come with a credit card number, so cardholders don’t have to worry about losing their credit card information to theft when paying at restaurants and stores. Even if you do lose your Apple card, Apple makes it easy to freeze the account and order a new Apple Card – all in the Wallet App.

Cautions

It is definitely worth mentioning that the Apple Card does not support balance transfer payments. This means that cardholders can’t transfer funds from other bank accounts to help pay off the Apple Card balance. Apple wants customers to only pay through the Wallet App and won’t accept other payment methods as a result.

The Apple Card is also not compatible with Android or other non-Apple devices. Therefore, cardholders without Apple devices will not be able to use the Apple Card, since registration occurs through the Wallet App on iOS devices.

And while this card does offer a good cash back rewards feature on Apple purchases, it doesn’t come with as many benefits as other credit cards. For example, cardholders don’t have free access to view their credit score.

Conclusion

The Apple Card is a great option for loyal Apple customers to earn cash back rewards on Apple purchases and enjoy greater mobility between virtual and physical payment methods. Through Apple Pay and the Apple Card, cardholders can make purchases at merchants all across the world. While the Apple Card doesn’t come with a signup bonus or introductory offers, it offers a good rewards program that gives between 1% - 3% cash back on purchases. Cardholders will also enjoy the ability to monitor monthly balances, view when the next payment is due, and calculate the cheapest payment plans all on the Wallet App. In short, if you are an Apple customer looking to streamline the payment process in online and physical stores, the Apple Card is a great card to consider.