Apple Card Review

The minimal fees make this a good, low-cost addition to your Apple Wallet, and that’s the only place you should keep it. When making purchases outside of Apple or without Apple Pay, you’re better off with one of the many no-annual-fee cards that pay 1.5% or 2% cash back on all purchases and have a variety of benefits.

For example, there’s no promotional purchase APR, which other cash-back cards often offer. If you can pay the full price of a new Macbook within your billing statement, great—that’s more than $30 in Daily Cash for one purchase. But if you’re paying it off over time, this isn’t the card for that. 

• Exceptional rewards for Apple and partner-merchant purchases: In addition to the top earning rate on Apple purchases, the company has announced a couple of non-Apple purchases that get the 3% Daily Cash rate. So far, these include Uber, Uber Eats, Walgreens, and in-store purchases at T-Mobile (starting Sept. 20). 
• Great rewards rate on Apple Pay purchases: Seventy-four of the top 100 retailers in the U.S. accept Apple Pay and continues to add partners. The company also says 65% of all retail locations in the country support the contactless transaction format, so if you shop at any of those places, you have a good opportunity to rake in rewards. The card’s rewards rate on Apple Pay purchases is on par with and sometimes better than the best flat-rate rewards cards on the market.
• Financial-management tools: Apple brings its signature design standards to a product that lacks visual excitement—credit card statements. The interactive features offer a new way to understand credit card interest and how your payment behaviors affect it.
• Low end of APR range is among the best: If you can qualify for it, the Apple Card APR is one of the lowest out there, especially when it comes to rewards cards. The high end of the range is relatively low, too, but you still don’t want to get caught paying that rate.

• Only worth it for Apple users: The card’s value comes from Apple Pay, which you can’t use without an Apple device.
• Sub-par rewards rate on non-Apple and non-Apple Pay purchases: The physical Apple Card may look cool, but there’s no reason to carry it with you if you’re open to having more than one credit card. Cards like the Capital One Quicksilver or Chase Freedom Unlimited offer a better rewards rate on all purchases.
• Few benefits: As a financial tool, this card offers little beyond the rewards on Apple purchases and Apple Pay. If you’re looking for a sign-up bonus or features like a free credit score or rental car insurance, this isn’t the card for you.

The Apple Card offers what it calls Daily Cash, its own version of cash-back rewards. Cardholders earn 3% Daily Cash on Apple purchases, 2% on purchases made with Apple Pay, and 1% on purchases made at merchants that don’t accept Apple Pay. (The physical card, like many cards going for a high-end look, is made of metal—in this case, titanium.)

Apple has also announced a few partner merchants where cardholders can get 3% Daily Cash when using Apple Pay, including Uber, Uber Eats, Walgreens, and T-Mobile (in-store purchases only, starting Sept. 20). 

Apple Card does not limit the amount of Daily Cash you can earn, and Daily Cash does not expire. If you have unredeemed Daily Cash if and when you close the account, Goldman Sachs will either credit it to your account, send it to you electronically, or mail you a check.

Daily Cash automatically accrues on your Apple Cash card, which you can then use on anything that you pay for with Apple Pay. Users without an Apple Cash account can redeem Daily Cash as a statement credit. 

Use the Apple Card for purchases directly with Apple, including music and apps, and with partner merchants where you can also earn 3% Daily Cash. Keep in mind that if you buy Apple products through another retailer, even one authorized to sell Apple products, the 3% rate doesn’t apply. Other than that, use it at retailers that accept Apple Pay, unless you have a rewards card that earns a higher rate at that type of vendor. For example, if you have a card that gives you more than 2 points per $1 spent on entertainment, even if the movie theater you go to accepts Apple Pay, use the other card to buy your tickets.

• Budgeting tools
• Credit card debt tool that shows how the amount you pay each month affects the amount of interest you owe 

Apple Card is Goldman Sachs’ first credit card, so this is unknown territory, and the customer experience remains to be seen. On a positive note, you can ask for help and receive support via text, though it’s unclear if this service is available 24/7. The Apple Card does not offer a free credit score, unlike most of its main competitors.

• Number-less credit cards: Both the physical and virtual Apple Cards have no numbers on them. For non-Apple Pay transactions on apps or websites requiring a card, the Wallet app or Safari web browser autofills a virtual card number.
• Integrated map data: Tap a transaction you don’t recognize to pull it up in Maps and see where it occurred.

Apple Card has very few fees, partially because it doesn’t offer things like cash advances or balance transfers. Late or missed payments don’t carry a fee but will result in additional interest accruing on your balance. Merchants in dozens of countries accept Apple Pay, so if you find Apple Pay acceptance abroad, you’ll be happy to know the Apple Card doesn’t charge a foreign transaction fee.