Reviews

Apple Card Review: Maximizing Rewards for Apple Enthusiasts

Ideal for Apple fans, offering 2-3% back on purchases, with no fees.

Rickie C. Keys, Ph.D., MPH

22 Mar 2024 — 2 min read

Features

Annual Fee: $0, ensuring cost-effectiveness for users.
Rewards Rate: Earn 3% cash back at Apple and select merchants, 2% on purchases using Apple Pay, and 1% with the physical card.
Intro Offer: None, focusing instead on everyday value.
Regular APR: 19.24%-29.49% Variable APR, offering competitive rates.

Benefits

High Apple Pay Rewards Rate: 2% cash back on general purchases when using Apple Pay and 3% at specific partners, including Apple.
Instant Rewards Access: Daily Cash rewards are available the day after purchase, adding immediate value.
No Fees: No late fees, annual fees, or foreign transaction fees, reducing overall costs.
Family Sharing: Apple Card Family allows sharing with up to five people, helping to build credit together.

Drawbacks

Lower Cash-Back Rate with Physical Card: You must use Apple Pay to earn elevated rates. Otherwise, you're stuck with a lackluster 1% cash back using the physical card.
Limited 3% Daily Cash Categories: The merchants earning 3% back may not align with your everyday spending, potentially making other cash-back cards more beneficial.
Few Upfront Incentives: The Apple Card lacks a significant sign-up bonus, which many other cash-back cards offer, and it doesn't feature a 0% introductory APR offer for non-Apple purchases.

Product Summary

While not revolutionizing the credit card industry, the Apple Card presents a compelling offer for Apple loyalists and frequent users of Apple Pay. With no annual fee, it provides an efficient way to earn rewards on everyday purchases, especially when buying Apple products or using Apple Pay, which rewards users with 2% cash back. The card's design and integration into the Apple ecosystem make it a practical choice for those heavily invested in Apple services and products. Although it lacks a traditional sign-up bonus, the unique benefits like immediate access to cash rewards, the ability to share the card with family members, and financing options for Apple purchases offer a different value. For those who can frequently use Apple Pay and are regular customers at Apple or its partner merchants, the Apple Card is a financially savvy option that aligns well with their spending habits.

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