Despite a crowded market for cash-back cards, customers may find room in their digital wallets for another that earns rewards, particularly on expensive Apple purchases. The Apple Card is issued by Goldman Sachs and is distinct from the Barclaycard Visa with Apple Rewards credit card.
Why should you sign up for an Apple Card?
The Apple Card, which has no annual charge, earns 3% cashback on Apple purchases, as well as at select merchants and through specific applications, and 2% cashback on all other transactions – but only if you pay with Apple Pay on your iPhone. If you want to use the physical card, which is available at retailers that do not accept Apple Pay, you will get only 1% cashback.
It is unknown what credit rating is required to qualify for the Apple Card. However, assuming you are creditworthy, this card may benefit you. This is how.
You wish to share your account with members of your family.
Initially, the Apple Card was only available to authorised users. Apple Card Family, on the other hand, allows you to share a single card account with up to five other people. You can appoint a co-owner who is equally liable for bill payment as you are, as well as approved users (called “participants”). For co-owners as well as participants who are 18 years or older and opt into credit reporting, account activity is reported to all three major credit bureaus. Each Apple Card family member earns daily cash on their purchases and keeps the cashback they earn. This is in contrast to the majority of other authorised user arrangements, in which earned points are transferred to the primary cardholder.
You’re prone to forgetfulness sometimes.
Apple states that if you miss a payment, you will not be charged a penalty rate or a late fee. However, the business notes that late or missed payments will result in additional interest accruing to the customer’s account. Regardless, it is recommended to complete all payments on time and in full, as late payments can still hurt your credit rating.
You reside in or go to cities where Apple Pay is widely accepted.
Apple said in its announcement of the Apple Card that most retailers accept Apple Pay. Additionally, the Apple Card has no foreign transaction fees and Mastercards are generally recognised worldwide, indicating that it will make an adequate travel companion.
You yearn for immediate gratification.
There is no need to wait for seven to ten business days for a card to arrive in the mail. Similarly, incentives are credited every day and can be used almost instantly when it comes to earning and redeeming cashback. Unlike many other reward cards, you do not need to wait until the end of your payment cycle before applying.
Your veins are filled with apple juice.
Siri is your shaman. Apple provides every device in your house, vehicle, and office (which, coincidentally, is where you hang out on weekends). Receiving 3% cashback on your frequent Apple purchases would be a significant benefit since you’re already accustomed to waving your phone over the point-of-sale device at checkout for all other transactions.