Apple Card full review
If you are the kind of person who wants an easier way to handle your payments using your Apple devices, check out this card!
What do I need to know about the Apple card?
The much-hyped new product from computer giant Apple Inc., the Apple Card, went on sale in August 2019.
Although Apple’s press release exuberantly says it is a “new sort of credit card,” it is actually a Mastercard with Goldman Sachs as the issuing bank.
Nevertheless, it does provide a slightly novel approach to earning cash rewards, paying back a portion of purchases in cash rewards every day; a somewhat novel user experience, functioning as both a mobile payment instrument and a physical card; some financial planning features; and a welcome lack of hidden fees.
Due to its synergies with the Apple ecosystem, the Apple Card is distinctive.
To get the most out of it, you’ll need an iPhone or Apple Watch, but as long as you use Apple Pay when you shop, its rewards rates are on par with the best cash-back credit cards.
So, keep reading and learn more about how good is this card and if it fits you properly
How do the Apple Card works?
With its initial entry into the credit card industry, Apple produced a product that had a number of compelling features.
To begin with, if you have an iPhone, you can quickly apply for the card through the Wallet app, and if approved, you can use the card anywhere that allows mobile wallet payments.
Your spirit guide is Siri. Your house, car, and office are all equipped with Apple products (which, coincidentally, is where you hang out on weekends).
You already have a strong habit of waving your phone over the point-of-sale device at checkout for all other transactions, so receiving 3% cash back on your multiple Apple purchases would be a huge benefit
It has some good qualities, but there are a few bumps you should be aware of. You must use the actual titanium card to make a purchase if the location doesn’t accept Apple Pay and you wish to use your Apple card account.
And unlike most credit cards, you have to request the real card if you’re authorized; it won’t be sent to you immediately.
This can be a good or a bad thing if you are the kind of person who uses more of the virtual version of your card or doesn’t
Additionally, just 1% cash back will be available on all purchases made with the actual card.
How much money can you save using the Apple card?
In order to analyze the Apple Card, we must make certain generalizations about customer behavior. When using Apple Pay, which is accepted at practically all merchants, the card receives 2% of the cost.
For the purposes of our calculations, we’ll assume that this fictitious household spends $32,072 annually on a credit card, with $16,036 of that amount coming through Apple Pay.
We project that our example household spends $1,169 yearly on Apple items and in the App Store, adding up to $35.07 in cash back, based on news stories and adjusted for inflation.
The remaining $14,867 that may easily be charged to a credit card would earn $148.67 back, bringing the total amount spent through Apple Pay to $16,036.
Accordingly, the card would receive $504.46 in cash rewards overall each year.
Apple card benefits
When using Apple Card with Apple Pay, you can receive 3% Daily Cash back on purchases made at Apple as well as at a few other retailers including Nike, Uber, Walgreens, and more.
Receive 2% Daily Cash back each time you pay with an Apple Watch or an iPhone.
Mobile expense tracking
Your Apple card makes it simple to track your spending on a daily basis or over the course of several months because it is designed to interact with Apple Pay and your iPhone.
The app allows you to view all of your receipts and provides a visual breakdown of your expenditure by color and category. Even better, you can get a breakdown of your spending by week, month, or year.
Payment suggestions for you
Apple offers smart payment recommendations that can help you pay less interest over time in addition to letting you set up payment reminders on your phone.
While many card issuers are reducing their fees, the Apple Card has none at all. not common ones, such yearly fees.
Not ones that are harsh, as for making late payments or exceeding your credit limit. not ones for special occasions like international exchanges or transactions.
How to apply for the Apple card?
If you go interested in the perks that Apple Card has to offer, take a look at our article on how to apply for the Apple card