Credit Cards » Credit Card Reviews » Apple Card Review 2024: More Than A Credit Card
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Apple Card Review 2024: More Than A Credit Card

The Apple Credit Card offers high daily cash back on Apple or its partners, as well as financing products at a 0% and even a savings account
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: January 1, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: January 1, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Apple Credit Card

Apple card

Rewards Plan

1% – 3% 3% cash back at Apple and select Apple pay partners, 2% on other Apple pay purchases, and 1% on all other purchases

Welcome Bonus

N/A N/A

Our Rating

4
4/5

0% Intro

N/A

Annual Fee

$0

APR

15.49% – 26.49% variable
Apple Credit Card

Apple card

Rewards Plan

1% – 3% 3% cash back at Apple and select Apple pay partners, 2% on other Apple pay purchases, and 1% on all other purchases

Welcome Bonus

N/A


N/A

Our Rating

4
4/5

PROS

CONS

APR

15.49% - 26.49% variable

Annual Fee

$0

0% Intro

N/A

Credit Requirements

Good - Excellent

The Apple Credit Card is a credit card offered by Apple in collaboration with Goldman Sachs. The card is designed to integrate seamlessly with Apple Pay and offers various features and benefits, including daily cashback rewards, savings account with high APY, interest-free financing options for specific Apple products, no annual fee, and an easy-to-use app interface.

The Apple Card offers additional features such as Apple Card Family, enabling account sharing with up to five people, and the ability to pay for Apple purchases over time with interest-free monthly installments. It boasts a user-friendly interface, allowing instant access to cash-back rewards, known as Daily Cash, with flexible redemption options.

Nevertheless, there are also some drawbacks, such as limited Apple Pay acceptance and the need to own an iPhone to use the card.  If you frequently use Apple Pay to make purchases and are looking for a credit card that integrates seamlessly with your Apple devices, the Apple Credit Card may be a good option for you.

However, if you are looking for a credit card with more traditional rewards programs or if you don't frequently use Apple Pay, you may want to consider other credit card options that better suit your needs.

What credit score is required to qualify for the Apple Card?

A credit score of 690-850 (Good - Excellent) is recommended.

What is the Apple Card Family feature?

Apple Card Family allows sharing one card account with up to five people, each earning their own Daily Cash through purchases.

Does the Apple Card have foreign transaction fees?

No, the Apple Card does not charge foreign transaction fees.

Can I share my Apple Card benefits with family members?

Yes, the Apple Card Family feature allows sharing benefits with up to five people.

What are the redemption options for Apple Card rewards?

Rewards, known as Daily Cash, can be redeemed for a statement credit, sent to Apple Cash, deposited into Apple Savings, or used for Apple Pay purchases.

Is there a bonus offer for new Apple Card users?

No, the Apple Card does not have a sign-up bonus.

How do I qualify for Apple Card without affecting my credit score?

You can check your approval odds without a hard credit pull, but accepting the offer will result in a hard pull.

Can I use the physical Apple Card at retailers that don't accept Apple Pay?

Yes, but cash back on purchases made with the physical card is limited to 1%.

Apple balance and daily cash
Apple balance and daily cash (Screenshot from Apple app)

In this Review

Estimating Your Rewards: A Practical Simulation

The following table presents a rewards simulation that demonstrates the benefits of using the Apple Credit Card. It estimates the potential rewards that can be earned by using the card to cover expenses across various categories.

Apple card

Spend Per Category
Apple Credit Card
$10,000 – U.S Supermarkets
$200
$3,000 – Apple Products (Including Partners)
$90
$3,000 – Restaurants
$60
$3,000 – Airline
$60
$2,000 – Hotels
$40
$4,000 – Gas
$80
Estimated Annual Cashback
$530

Pros and Cons

Like any credit card, the Apple Credit Card also has its share of advantages and disadvantages that potential users should be aware of before making a decision

Pros
Cons
Daily Cash Back
No Signup Bonus
Excellent For Apple & Partners
Limited Brands For Higher Cashback
0% APR On Apple Products
An iPhone Is a Must
High APY On Savings

Generally, with other credit cards, it takes time to receive the rewards on your purchases, but with an Apple credit card, you can receive the cashback on the same day, which can be used to pay off your balance, send it to friends and family through iMessage, or use it with Apple Pay for future purchases.

If you are an Apple fan, this card has you covered. Users can receive a 3% cash back at Apple and select Apple pay partners, 2% on other Apple pay purchases, and 1% on all other purchases.

You can earn  cashback with these partners: Uber and UberEATS, Panera Bread, Walgreens (in-store, on the app, or website), Ace Hardware, T-Mobile, Nike, Exxon and Mobil. However, while shopping with these partners you must use Apple Pay to get the benefit.

Apple Card customers in the US can now open a savings account and earn interest via an Apple savings account. The annual percentage yield (APY) offered is 4.15%, which is competitive compared to other savings accounts available in the market.

Apple has partnered with Goldman Sachs to manage the savings accounts, ensuring that account balances are protected by the Federal Deposit Insurance Corporation (FDIC).

Apple set up savings account option
Set up savings account option within Apple app (Screenshot from Apple app)

Customers who purchase certain products from Apple have the option of financing them at a 0% annual percentage rate (APR). Customers can purchase Apple products in instillments without paying interest as long as they make the required monthly payments.

The terms and products that qualify for financing are subject to credit approval, and they may vary by country or region.

Generally, most of the entry-level no-annual fee credit cards provide sign-up bonuses, such as $200 cashback after spending $500 or $1,000.

However, the Apple Card does not offer a sign-up bonus, which can be considered a significant disadvantage compared to other cards in the same category.

We typically think of purchasing an Apple product as a once-a-year event, if not less frequent. Products like AirPods, Apple Watches, iPhones, iPads, and MacBooks are not things we purchase every few months or even every year, but rather once every couple of years.

Also, unlike other cards that earn cashback for specific categories  – Apple card offer limited, specific brands, which may be less attractive, depending on your personal preferences.

Apple cash how to earn
Apple cash how to earn (Screenshot from Apple app)

The Apple Card can only be accessed through an iPhone, which may be inconvenient for individuals who are not iPhone users or those who own older iPhones that cannot be updated.

This limitation may prevent some potential users from being able to access the benefits of the Apple Card.

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Welcome Bonus:
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185,000 points 185,000 Marriott Bonvoy bonus points after you use your new Card to make $6,000 in purchases within the first 6 months of Card Membership

Amex Delta SkyMiles Platinum card

Rewards Plan:
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Welcome Bonus:
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Welcome Bonus:
80,000 points 80,000 Membership Rewards® points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership

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Is It The Apple Card Right For You?

So, if you're an Apple fan, yes, the Apple Credit Card may be a good fit for your Apple purchases. This card is designed for people who frequently make Apple purchases and want a credit card that offers cashback rewards on these purchases. Also it is a good fit for someone who plans on making a large purchase through Apple and wants interest free payments on their purchase. However, the rewards rate is less than other shopping cards, such as Amazon.

Because the Apple Credit Card integrates seamlessly with the iPhone and Apple Pay, it may also be a good fit for people who value simplicity and a streamlined user experience. Individuals who do not own an iPhone or make frequent Apple purchases may not find the Apple Credit Card to be as useful.

If you would like to compare Apple to other co-branded shopping cards, here's a quick overview:

Card
Rewards
Bonus
Annual Fee
best buy credit card
1-5% 5% back in rewards on shopping at BestBuy, 3% back in rewards on gas purchases, 2% back in rewards on dining, takeout and grocery purchases, 1% back in rewards on everyday purchases
10% first day 10% back in rewards on your first day of purchase
$0

target red card

1% – 5% 5% off at Target and target.com, 2% on dining and gas purchases and 1% everywhere else outside of Target
None None
$0

Citi-costco-anywhere-visa-credit-card review

1-4% 4% cash back on on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter, 3% cash back on restaurants and most travel purchases, 2% cash back at Costco and Costco.com, 1% cash back on all other purchases
None
$0 ($60 Costco membership fee required) $60 Costco membership fee required

amazon prime visa

1-5% 5% at Amazon.com, Amazon Fresh , Whole Foods Market and on Chase Travel purchases, 2% cash back on gas stations, restaurants and on local transit and commuting, 1% cash back on all other purchases
$100 $100
$0 ($139 Amazon Prime subscription required)

Capital One® Walmart Rewards® Card

1-5% 5% cash back at Walmart.com (including pickup and delivery), 2% cash back in Walmart stores and gas stations, at restaurants and on travel plus 1% cash back everywhere else Mastercard is accepted
5% 5% cash back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval
$95

macy amex card

2X – 5X spend $1,200 or more annually to get 5X points per dollar on purchases made at Macy's, 3X points if you spend $500 to $1199 and 2X points if you spend up to $500. Also, get 3X points at restaurants including delivery, 2X at gas stations & supermarkets and 1 point per $1 spent everywhere else
25% discount 25% discount on Macy's on the day you are approved and the following day, up to $100
$0

How To Get the Most Out of Your Apple Card?

Here are some tips that will help you to maximize the benefits of the Apple card:

The simplest way to maximize your cashback rewards is to use Apple Pay. In comparison to the 1% cashback you receive when using your physical card at stores that do not accept Apple Pay, you can earn 2% Daily Cash on purchases made with Apple Pay.

Okay, so Apple credit card have big names in cashback partnerships, like Nike and Uber, etc., and getting 3% cashback with these merchants is a good deal.

For example, let's say you're a frequent user of Uber and have an Apple Credit Card. By using your Apple Credit Card as the payment method for your Uber rides, you can earn 3% back in Daily Cash on each ride.

Apple daily cash cashback accumulation
Apple daily cash cashback accumulation (Screenshot from Apple app)

While there are many options for a savings account with high APY, Apple offers a convenient option to grow your money and offers some of the highest rates in the market for savings accounts. 

If you're looking to grow your money and considering this option is relevant only for Apple cardholders – it may be a good idea for you.

With the Apple Credit Card, you can access detailed transaction history and spending insights to track your purchases more effectively.

Keeping track of your expenses can help you identify areas where you're overspending and, ultimately, find ways to cut back. This allows you to stay within your budget and avoid any additional fees or charges

Apple card latest transactions
Apple card latest transactions (Screenshot from Apple app)

Adding authorised users to your Apple Card allows you to create an Apple Card Family, a feature not available on many other credit cards.

Furthermore, the Apple Card is one of the few credit cards that allows joint account owners. This feature is useful for couples or partners who want to co-own a credit card and build credit together.

How To Redeem Cash Back Rewards?

The beauty of Apple Card lies in its flexible and rewarding redemption options for your Daily Cash! Here's a breakdown of how you can make the most of your earned rewards:

Directly Use Daily Cash:

  • Apple Pay purchases: Use your Daily Cash automatically for all your Apple Pay purchases, anywhere it's accepted. This is the most seamless way to spend your rewards without manual intervention.
  • App Store, iTunes, Apple Music, Apple TV+: Enjoy up to 2% Daily Cash back on eligible purchases within these Apple ecosystems, adding a sweet cashback bonus to your transactions.

Additional Redemption Paths:

  • Statement Credit: Apply your Daily Cash directly to your Apple Card balance, effectively reducing your monthly bill. This offers immediate relief and simplifies your finances.
  • Apple Savings Account: If you have an Apple Savings account, you can route your Daily Cash directly into it, where it earns high-yield interest, boosting your savings growth.
  • Send to Others: Share your Daily Cash with friends and family through Apple Pay Cash. This adds a generous touch to your interactions and spreads the rewards.
Apple card redeem cash
Apple card redeem cash (Screenshot from Apple app)

How To Apply?

Here's how to apply for the Apple card on Apple website:

Step 1: Open the Wallet app on your iPhone. Tap the “+” sign in the upper-right corner of the screen. Select “Apple Card” from the list of options. After you click on Apply for Apple credit card you will have to click on continue after reading the information.

Step 2: After you click on the continue you can start with the first page of the application where you will enter your personal information.

This includes your name, date of birth, phone number, and full address. You will need to enter your social security number so that the company can check if you meet the required credit score and also your citizenship.

Step 3: After entering all of the above information and clicking Next, you will be directed to the next page, where you have to enter your income.

Finally, you arrive at the Apple Cards Terms and Conditions page, where you can view all of the information about this card, such as the fee. When you click agree, Apple will instantly tell you whether or not you are approved for the card.

FAQs

You can use the Find My app to lock your card and prevent unauthorized transactions. You can also request a new card through the Wallet app.

Yes, you can add an authorized user to your Apple Card through the Wallet app on your iPhone.

There is no limit to the amount of cashback you can earn with the Apple Card

The Apple Card has no annual fees, late fees, or foreign transaction fees.

The credit limit for the Apple Card varies based on creditworthiness and other factors.

You can apply for an Apple Card through the Wallet app on your iPhone or on Apple website. The application process is simple and straightforward.

Compare Apple Card

If you're a geek of both Amazon and Apple and not sure which card is better for your needs, we think we can help – there is a clear winner.

Apple Card vs Prime Visa: Which Is Better?

The Amex Gold Card may be more appealing if you dine out frequently and value premium travel perks than the Apple card.

Apple Card vs. Amex Gold: Where You Can Get More?

The Apple Card offers competitive cashback rewards on Apple purchases and services – but if you travel frequently, the Unlimited card wins.

Apple Card vs. Chase Freedom Unlimited: How They Compare?

The Costco card stands out with substantial cashback rewards on gas, dining, and Costco shopping. In which cases the Apple card may be better?

Costco Anywhere Visa Card by Citi vs Apple Card

The Apple Card offers high cashback on Apple products, while the Best Buy card wins when it comes to gas and BestBuy purchases. Let's compare.

My Best Buy Visa Card vs Apple Card: How They Compare?

Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Search
Best Cards Per Category
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Rewards Plan:
1X – 5X 5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
Welcome Bonus:
80,000 points 80,000 Membership Rewards® points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership

amex brilliant

Rewards Plan:
2X – 6X 6 Marriott Bonvoy points for each dollar of eligible purchases at hotels participating in the Marriott Bonvoy™ program, 3 points at Worldwide restaurants and on flights booked directly with airlines and 2 points on all other eligible purchases
Welcome Bonus:
185,000 points 185,000 Marriott Bonvoy bonus points after you use your new Card to make $6,000 in purchases within the first 6 months of Card Membership

Amex Delta SkyMiles Platinum card

Rewards Plan:
1X – 3X 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants worldwide including takeout and delivery in the U.S., and at U.S. supermarkets and 1X Miles on all other eligible purchases
Welcome Bonus:
90,000 miles 90,000 Bonus Miles after you spend $4,000 in purchases on your new Card in your first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

amex platinum

Rewards Plan:
1X – 5X 5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
Welcome Bonus:
80,000 points 80,000 Membership Rewards® points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership

amex brilliant

Rewards Plan:
2X – 6X 6 Marriott Bonvoy points for each dollar of eligible purchases at hotels participating in the Marriott Bonvoy™ program, 3 points at Worldwide restaurants and on flights booked directly with airlines and 2 points on all other eligible purchases
Welcome Bonus:
185,000 points 185,000 Marriott Bonvoy bonus points after you use your new Card to make $6,000 in purchases within the first 6 months of Card Membership

Amex Delta SkyMiles Platinum card

Rewards Plan:
Up to 3x miles 3 miles per $1 spent on United purchases immediately after earning your $125 annual United purchase credit, 2 miles on all other travel and select streaming services, 1 mile on all other purchases
Welcome Bonus:
70,000 miles 90,000 bonus miles after you spend $5,000 on purchases in the first 3 months your account is open
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.