Apple Inc. is a leading multinational technology company known for its innovative products and services. In 2019, the company launched its credit card, the Apple Card, which was designed to enhance the financial experience of its customers.
Apple Credit Card Requirements
To apply for an Apple Credit Card, you need to meet the following requirements:
• Be 18 years or older.
• Have a compatible Apple device, including an iPhone or iPad.
• Have a valid Apple ID.
• Have a U.S. residential address.
• Have a U.S. Social Security number or an individual taxpayer identification number.
• Pass an Apple card credit score check.
Apple Credit Card Limit
The Apple Credit Card does not have a pre-set credit limit. Instead, the credit limit is determined by the cardholder’s creditworthiness, income, and debt-to-income ratio. This feature allows for more flexibility in spending, as the cardholder can use the card for as much as they need as long as they can pay the balance. However, some users have reported receiving lower credit limits than expected, which may limit their spending power.
Apple Credit Card Benefits
The Apple Credit Card comes with several benefits, including:
Daily Cash: The Apple Card’s cashback program, Daily Cash, offers cashback rewards for every purchase made with the card. Cardholders earn 2% cash back on purchases made with Apple Pay, 3% cash back on purchases made from Apple, and 1% cash back on purchases made with the physical card. Daily Cash is automatically added to the cardholder’s Apple Cash card, which can be used to pay for purchases or transferred to a bank account.
No Fees: The Apple Credit Card has no annual fees, late fees, over-limit fees, or foreign transaction fees. This feature makes it an attractive option for those who want to avoid the hidden fees associated with traditional credit cards.
Integration with Apple ecosystem: If you are someone who uses Apple products and services frequently, the Apple Card’s integration with the Wallet app and other Apple tools may make it easier to track your spending and manage your finances.
Security: The Apple Credit Card uses advanced security features, including Face ID and Touch ID, to protect the cardholder’s information. The card also generates a unique card number for each purchase, which adds an extra layer of security.
Financial management: The Apple Card comes with various financial management tools, such as spending summaries and payment reminders, to help users stay on top of their finances.
Titanium card: The physical Apple Card is made of titanium and has a minimalist design.
Apple Card Cash Back
One of the most attractive features of the Apple Credit Card is its cashback program, Daily Cash. Cardholders can earn cashback rewards for every purchase made with the card. The cashback rewards are automatically added to the cardholder’s Apple Cash card, which can be used to pay for purchases or transferred to a bank account. The following are some examples of how Daily Cash can be earned:
• 2% cashback on purchases made with Apple Pay.
• 3% cashback on purchases made from Apple, including the App Store, iTunes, and Apple Music.
• 1% cashback on purchases made with the physical card.
Is the Apple Credit Card Good for Students?
The Apple Credit Card can be a good option for students, as it offers a flexible spending limit, no fees, and cashback rewards. The card can be used to pay for textbooks, school supplies, and other expenses. However, students should be aware of their spending habits and ensure that they can pay the balance in full each month to avoid accumulating debt and negatively impacting their credit scores. Financial management tools, such as spending summaries and payment reminders, can also be helpful for students who are learning to manage their finances independently. Overall, the Apple Credit Card can be a good option for students who frequently use Apple Pay or purchase from Apple and want to build their credit history without incurring fees.
Is Apple Card Worth It?
As per Apple credit card review reddit, it can be worth it for some people, but not for everyone. The integration with the Wallet app and other Apple tools may make it easier to track spending and manage finances for those who already use the Apple ecosystem. Additionally, the security and privacy features, such as the use of biometric authentication and no visible credit card number, can provide peace of mind. However, the card’s APR can range from relatively low to relatively high, depending on the applicant’s credit score, so those who carry a balance on their credit card may want to consider other options. Overall, the Apple Card can be worth it for those who frequently use Apple Pay or purchase from Apple and value security and privacy, but it may not be the best option for everyone.