Apple Credit Card Review: Good for Apple Users and Mobile Wallet Spending

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Apple Card
Editor’s Score: (3.3/5)
  • Intro bonus:
    N/A
  • Annual fee:
    $0
  • Regular APR:
    See Terms
  • Recommended credit score:
    (No Credit History)

NextAdvisor’s Take

Pros
  • Earn 3% back at Apple and 2% back when you pay with Apple Pay
  • No annual, over-the-limit, foreign-transaction, or late fees
  • You can opt to pay for select Apple products over time interest-free
  • Metal card design
Cons
  • Not practical for consumers who don’t use Apple devices
  • No welcome bonus
  • Minimal rewards rate for any spending where Apple Pay is not accepted
The Bottom Line
The Apple Credit Card*, issued by Goldman Sachs, can help fans of the brand maximize spending on new Apple purchases and seamlessly integrate with the devices they already use. Plus, there is no annual fee, no late fees or penalty fees, and cash back is deposited into your account daily.

Additional Card Details

  • Earn 3% cash back when you shop with Apple
  • Earn 2% back when you pay for purchases with Apple Pay
  • Earn 1% back on other purchases when you use your physical card or pay online using your card number instead of Apple Pay
  • Also earn 3% back when you pay your Apple Card using Apple Pay at select merchants
  • 0% APR installment financing on select Apple purchases
  • No annual fee, over-the-limit fee, foreign transaction fees, or late fees
  • Create an Apple Card Family, allowing up to 5 members of your household to be authorized users on your account

Apple Card Full Review

Card Type

Apple Card is a cash back credit card created by Apple and issued by Goldman Sachs. This card is meant to be used with your iPhone or iPad and Apple Pay wallet to earn rewards on purchases, but also offers a physical card (albeit with a lower rewards rate).

Annual Fee

Apple Card does not have an annual fee. 

Welcome Offer

Apple Card does not currently offer a welcome bonus. 

Rewards

With Apple Card, you’ll earn 3% cash back when you shop with Apple, 2% back when you pay for purchases with Apple Pay, and 1% back on other purchases when you use your physical card or pay online using your card number instead of Apple Pay. 

You’ll also earn 3% back when you pay with your Apple Card using Apple Pay at select merchants, including Nike, Panera Bread, T-Mobile, Exxon Mobil, and Walgreens. 

Fees 

Apple Card charges a 10.99% to 21.99% variable APR, based on creditworthiness. The card does not charge any other fees, including annual, over-the-limit, foreign-transaction, or late fees. 

Benefits of Apple Card

The rewards structure of Apple Card is good for those who purchase a lot of Apple products or frequently use Apple Pay for their spending. The streamlined app gives you several useful tools to help manage your finances, and your cash back being deposited daily directly into your Apple Wallet as Daily Cash saves a step when redeeming rewards.

Apple Card has some other benefits outside of cash back rewards, but they’re best suited for specific types of users or purchases. 

When you open your card account, you can choose another person to be a joint account holder, or co-owner. Unlike authorized users, each co-owner is individually responsible for all balances on the account. 

You can also create an Apple Card Family, so up to 5 different members of your household (or anyone else) can be authorized users (participants) on your account — and build their credit history too. While co-owners are jointly responsible for making payments toward Apple Card balances, that’s not true of authorized users. You’re responsible for any payments on your account by any participants within your Apple Card Family group.

If your entire family uses iPhone or Apple devices and you want a way to monitor your household spending and have everyone in your home earning rewards together on purchases, then Apple Family can make a lot of sense.

Apple Card also lets you pay off select Apple purchases without interest over time. If you’re mainly interested in the card for savings on pricy Apple products like a new phone or computer, this benefit can help you finance the purchase while also earning rewards. Your monthly installment payments are included in your minimum amount due on your Apple Card statement, so you don’t need to make an extra payment each month. But you should make sure you stay on top of payments and avoid buying new, expensive Apple devices you can’t afford to pay off. Apple Card doesn’t charge late fees, but you can risk defaulting on your account if you don’t meet at least your minimum payments.

Drawbacks of Apple Card

Those that don’t use Apple products will miss out on most of the benefits of the card, as the elevated rewards rates only apply to purchases of Apple products and purchases made with Apple Pay. If you don’t use your iPhone’s mobile wallet and don’t buy all your tech from Apple, there are other cash back credit cards with better rewards structures or welcome offers that will add much more value to your regular spending.

Make sure you compare cash back and rewards cards that may better suit your spending habits before you apply.

How to Use Apple Card

Once you have Apple Card, use it for any upcoming purchases you make with Apple — from your Apple TV+ subscription to a new iPad. You’ll earn 3% rewards online and in Apple stores, and you can enroll in monthly installment plans to pay down your purchases over time without accruing interest. 

Pro Tip

You can use Apple Card Monthly Installments to pay down select Apple purchases over time without interest. But if you’re looking for a more flexible 0% introductory offer or a credit card that lets you consolidate existing debts, consider other 0% APR options. Apple Card doesn’t allow balance transfers of any kind.

Also set your Apple Card as your preferred payment method with Apple Pay to earn a flat 2% with online and in-store merchants that accept mobile payments. Look for the Apple Pay logo or a contactless card reader at checkout.  

Stay up to date with eligible merchants that offer 3% cash back with Apple Card. Current retailers include Duane Reade, Panera Bread, Walgreens, Exxon, Mobil, Nike, T-Mobile, Uber, and Uber Eats. These merchants are subject to change, and you typically must use Apple Pay at checkout to earn this higher rate. 

When it comes to redeeming your rewards, your cash back never expires or loses its value. Instead of receiving your cash back only after a certain minimum amount earned or with your monthly statement, it’s deposited into your account daily. You can use these rewards to pay for purchases at stores using your mobile wallet, make payments toward your card balance, send peer-to-peer payments to friends, or deposit them into your bank account. 

When it’s time to pay your bill, your Apple Card account shows you the total interest on your balance you’ll pay over time based on any payment amount you put in, or if you make only the minimum payment. That can be a helpful way to visualize the real cost of carrying a balance, but you should always pay your balance in full each month to avoid credit card interest and debt altogether. 

Apple Credit Card Compared to Other Cards

Apple Card

Apple Card

Editor’s Score: (3.3/5)
  • Intro bonus:
    N/A
  • Annual fee:
    $0
  • Regular APR:
    See Terms
  • Recommended credit:
    (No Credit History)
  • Learn more externa link icon at our partner’s secure site.
Citi® Double Cash Card

Citi® Double Cash Card

Editor’s Score: (4.4/5)
  • Intro bonus:
    N/A
  • Annual fee:
    $0
  • Regular APR:
    13.99% – 23.99% (Variable)
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon at our partner’s secure site.
Chase Freedom Unlimited®

Chase Freedom Unlimited®

Editor’s Score: (4.7/5)
  • Intro bonus:
    $200
  • Annual fee:
    $0
  • Regular APR:
    14.99% – 23.74% Variable
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon at our partner’s secure site.

Is Apple Card Right for You?

If you’re someone who uses an iPhone and other Apple devices and you pay for many of your purchases with Apple Pay already, this card could be a valuable addition to your wallet. If you don’t often spend with merchants that accept Apple Pay at checkout, think twice before you apply — you’ll need to use the mobile payment method to maximize this card’s rewards.

While it is possible to use the card without an eligible iPhone or iPad, you won’t be able to do much. If you don’t add your Apple Card to your eligible device, you’ll be limited to only making eligible purchases online and in-store at Apple using your line of credit. Adding the card to your iPhone or iPad unlocks the ability to spend at other merchants, as well as features that make this card valuable, like earning rewards, managing your account and payments through the Wallet app, pay for Apple products interest-free using monthly installment plans, and more.

Apple Card is best for people who already use an iPhone or other Apple device regularly and plan to spend more with Apple in the future, since you’ll earn the highest rewards rates on Apple purchases and anything else you buy using Apple Pay. Anyone else should probably consider another cash back credit card. The Citi Double Cash Card, for example, offers similar 2% cash back rewards on every purchase you make, regardless of whether you pay with a mobile wallet or not.

EDITORIAL INDEPENDENCE

As with all of our credit card reviews, our analysis is not influenced by any partnerships or advertising relationships.

*All information about the Apple Card and Citi® Double Cash Card has been collected independently by NextAdvisor and has not been reviewed by the issuer.

Frequently Asked Questions

Does the Apple Credit Card build credit?

The Apple Credit Card helps you build credit — provided you make payments on time — since it reports your credit history and payments to the three credit bureaus.

Does the Apple Credit Card let you get preapproved online?

You can get preapproved for the Apple Credit Card online without a hard inquiry on your credit report. While pre-approval doesn’t guarantee you’ll receive the card, it does show that you likely meet the requirements for approval.

What is the annual fee on the Apple Credit Card?

The Apple Credit Card doesn’t charge an annual fee.