Quick Review
Originally marketed in 2019 as “a new kind of credit card,” the Apple Card is a hit-or-miss financial product for most consumers. While it’s true that it offers some novel perks for Apple users, it hasn’t exactly revolutionized the credit card industry—and it’s certainly not for everybody.
The Apple Card has several important features you should consider when deciding whether it’s right for you:
- No fees: The Apple Card has no annual fees, over-the-limit fees, foreign transaction fees, or late fees. This takes some of the pressure off deciding whether the Apple Card is worth getting since it won’t cost you anything to use (as long as you don’t let interest accumulate).
- 0% APR financing available on Apple products: As a cardholder, you’ll have the option to buy Apple products completely interest-free through Apple Card Monthly Installments (ACMI). This will ease the burden on your next big purchase by allowing you to break up the payments over several months.
- Not accepted everywhere: The Apple Card is a little ahead of its time since its default home is in your digital wallet. One drawback to this is that not all merchants accept digital wallet transactions. You won’t get a physical card unless you manually request the titanium Apple Card.
- Designed for purchases only: The Apple Card may be a good fit if you use Apple Pay regularly and want to earn easy rewards, but it lacks the other functionalities that many credit cards offer. For example, you won’t be able to use it to withdraw cash from an ATM or perform a balance transfer.
For Apple loyalists, this card may be a no-brainer. But for general use and everyday purchases, we recommend turning to alternatives with lower fees, wider accessibility, and less restrictive rewards.
Pros & Cons
Who Is the Apple Card Best For?
The Apple Card is mainly designed with the following groups of people in mind:
- Apple Pay users: If you use Apple Pay a lot, then you’ll be able to rake in plenty of savings with the Apple Card’s 2%–3% cashback rate on Apple Pay purchases.
- Apple enthusiasts: If you often buy Apple products, you’ll benefit from the similarly high 3% cashback rate the Apple Card gets you on Apple purchases. You’ll also have the option to pay for your next Apple device over a few months in interest-free installments.
- Digital consumers: The Apple Card offers plenty of convenience and benefits for consumers who prefer digital transactions. If you’re someone who prefers to leave your wallet at home or have all your credit card information stored digitally, then the Apple Card might suit you.
If you’re not a big Apple fan or you want a traditional credit card that can get you quick cash from an ATM while you’re out, you’re better off exploring other credit cards.
What the Crowd Says
Reviews of the Apple Card are mixed across the board, but the consensus seems to be that it’s a card you’ll either love, hate, or hardly ever use. Committed Apple users love the card’s easy-to-access rewards and benefits, but they don’t rely on it for every purchase. Experts claim you don’t have much to lose with the Apple Card, but you might not have much to gain either.
| Publication | Rating |
|---|---|
| WalletHub | 3.5/5 |
| WalletHub (user ratings) | 3.4/5 |
| NerdWallet | 4.5/5 |
| Credit Karma (user ratings) | 4.2/5 |
| Select (CNBC) | Mixed |
| Forbes Advisor | 2.5/5 |
| Investopedia | 2.7/5 |
| Buy Side (WSJ) | Positive |
| The Ascent (Motley Fool) | 3.5/5 |
| FinanceBuzz | 4/5 |
| Upgraded Points | 4/5 |
| CreditCards.com | 2.9/5 |
| Bankrate | 3/5 |
| CNET Money | 3.5/5 |
| AppleInsider | 3.5/5 |
| MyBankTracker | 3/5 |
| MoneyUnder30 | Mixed |
| U.S. News | Mixed |
| Aggregate rating: 3.4 |
What Major Publications Say
Most credit card review websites say the same thing—the Apple Card is a winner for people who already use Apple Pay or make a lot of Apple purchases, but for other consumers, it just doesn’t quite live up to the hype.
In particular, reviewers aren’t impressed with the Apple Card’s lack of a welcome bonus or intro APR offer, or the meager 1% cash back you’ll get when you have to use your physical card at vendors that don’t accept Apple Pay. But they do admit that the lack of fees is a major plus and that the card offers Apple users a quick and easy way to rack up rewards.
What Cardholders Say
Customer reviews are fairly mixed, and most people seem to love or hate the card. Those who love the Apple Card praise it for its convenience, intuitive app, and sleek card design. Less satisfied cardholders complain about unhelpful customer service and the reliance on Apple Pay, even going so far as to claim that it’s not a “real” credit card.
Many reviewers on both sides of the spectrum use the Apple Card as a secondary card just for Apple purchases or emergencies. This shows that although the card has some useful features, not many people rely on it as their primary credit card to use on every purchase.
Rates & Fees
Fees
- Annual fee: $0
- Foreign transaction fee: $0
- Late payment fee: $0
- Penalty fee: $0
Interest Rates
- Purchase APR: 15.49% – 26.49% (variable)
- Cash advance APR: N/A
- Balance transfer APR: N/A
How to Avoid Paying Interest
Be warned: although most credit card issuers will charge interest on any balance you leave unpaid after your payment due date, the Apple Card goes one step further. Even if you pay your full balance just one day after your due date, you could be charged interest on all future purchases you make that month.
This penalty isn’t too different from a late fee, and it means this card could get expensive to use if you don’t consistently pay your full credit card bill. To avoid racking up debt, set up automatic payments for your full balance amount on or before your payment due date.
Credit Limit
Apple doesn’t advertise the credit limits offered on the Apple Card. However, like the case with most other credit cards, the card issuer will set your credit limit based on your creditworthiness.
How to Increase Your Apple Card Credit Limit
You may be able to get a credit line increase on your Apple Card by requesting one directly with the card issuer. This means getting in touch with Goldman Sachs and asking them to increase your available credit limit. Customer reviews indicate that they may also offer you a credit limit increase automatically.
Alternatively, if you have a family member with an Apple Card who’s in your Family Sharing group, you can become co-owners to combine your credit limits. As a result, you’ll both have a larger credit line reported to the credit bureaus. Just bear in mind that your combined balance may also be higher.
Rewards
Apple Card cashback rewards are divided into three tiers:
- 3% for purchases from Apple (including Apple retail store, Apple online store, iTunes, Apple Music, App Store, and in-app purchases)
- 3% for purchases from specific vendors (Uber Eats, Uber, Nike, Walgreens, T-Mobile, Panera Bread, Ace, Exxon, Duane Reade, and Mobil) when you use Apple Pay
- 2% for purchases made through Apple Pay
- 1% for purchases you make with your titanium Apple Card
If you have Apple Cash, you’ll be able to access your rewards on the same day you make your qualifying purchase—the rewards will simply appear as cash in your Apple Wallet. If you don’t have Apple Cash set up, then you’ll only be able to receive your rewards as statement credit.
Benefits
The Apple Card offers a few worthwhile benefits for cardholders. While this list of perks may not be as extensive as what you’d find on a top-tier card, it’s pretty impressive for a no-fee card with lenient eligibility criteria.
| Benefit | What It Means |
|---|---|
| Apple Card Monthly Installments (ACMI) | Break up your purchases into 0% APR monthly installments when you use your Apple Card to buy a new iPhone, Mac, iPad, or other eligible Apple product. |
| Zero liability protection | You won’t have to pay for any purchases on your card that you haven’t authorized (e.g., if someone steals your card details). |
| Mastercard® ID Theft Protection | Get free fraud and ID theft protection, TransUnion credit report monitoring, and emergency assistance if your card is lost or stolen. |
| ID Theft Resolution Services | If someone steals your identity, an expert will guide you through the process of filing affidavits, canceling accounts, and contacting the major credit reporting agencies. |
| Free ShopRunner membership | Delivery program that gives you free 2-day shipping and free return shipping at more than 100 online retailers along with exclusive offers on thousands of brands. |
| Mastercard® Travel and Lifestyle Services | Save money and earn perks for booking flights, hotels, and rental cars. |
| Digital wallet compatibility | As soon as you accept your offer for the Apple Card, you’ll be able to start using it through Apple Pay immediately. |
| Priceless Cities | Online collection of experiences curated exclusively for Mastercard® customers in cities around the world—wellness retreats, concerts, dining, museums, art events, and much more. |
| Priceless Golf | Program for golf lovers that gives you exclusive offers and other perks when you visit premier golf clubs or attend professional golf tournaments. |
| Onefinestay | 10% discount on thousands of rental homes and villas around the world. |
Apple Card Family
You can share an Apple Card with family members or friends. To do this, set up Apple Card Family. This feature allows you to merge your credit line with your partner’s and form one co-owned account, like with a joint account. You then manage that account together—monitoring transactions and balances, setting limits on the spending of “participants” in your account and carrying out other tasks.
Participants are cardholders in your Apple Card Family who can use your card, but they’re not responsible for payments. You can set credit limits for them so that they can’t spend more than you want them to. Participants could include your children or other family members, for example.
Advanced Account Security
Apple offers certain measures to protect your privacy and security and prevent credit card fraud. One of the most unique ways they protect your card details is by not printing any numbers on your physical Apple Card. They also won’t sell your spending and transaction data to third parties.
To further protect your account, Apple uses Face ID, Touch ID, and unique transaction codes. With multifactor account authentication, it’s a lot harder for hackers or criminals to steal your credit card details or personal information.
How to Get an Apple Card
Credit Score Requirements
You generally need a FICO score of 600 to qualify for the Apple Card. This is the requirement set by Goldman Sachs, the issuer of the Apple Card. They’ll check your TransUnion credit report when assessing your eligibility for the card.
Other Requirements
You’ll also need to meet other requirements in terms of your income level, debt amount, and credit history. Thankfully, Apple provides a helpful guide on how to increase your chances of approval for the Apple Card.
For example, you might get rejected for the Apple Card if:
- You have a history of late payments: According to the Apple Card website, this could mean, for example, that you’re currently past due on a debt or that you recently had multiple nonmedical collection accounts that were past due.
- Your debt-to-income level is too high: If your disposable income is too little after you make your monthly debt payments, you may be rejected for the Apple Card.
- You recently filed for bankruptcy: Negative public records on your credit file could hurt your chances of approval. Currently, bankruptcies are the only public records that can appear on your credit report.
- You’ve recently applied for several credit cards or loans: Having multiple hard inquiries on your credit report from credit applications is a red flag to lenders. You could get rejected for the Apple Card if the issuer determines that you’ve applied for too many credit accounts recently.
How to Apply
Applying for an Apple Card is quick and easy. There are two ways you can apply:
- Online: Go to the Apple Card website.
- On your iPhone: Open the Wallet app on your phone and tap the “Add” button. Select “Apple Card,” tap “Continue,” and then complete your application.
Note that you can apply for the Apple Card without an iPhone or iPad (or similar devices). However, if you apply for the Apple Card online and don’t add the card to an eligible iPhone or iPad, you’ll only be able to use the card for online purchases and shopping at Apple stores.
If you do have an iPhone or iPad, once you’ve applied for the Apple Card, you can start using your card via Apple Pay straight away. However, to get a physical card (the titanium Apple Card) you have to specifically request it. You can request a physical card at no cost through the Wallet app on your iPhone.
What to Do if You’re Rejected
If you have your heart set on an Apple Card but your application doesn’t work out, don’t despair. Apple has a program to help you improve your creditworthiness.
They’ll send you emails every month to help you track your progress. Once you’ve reached the goals set for you, Apple will invite you to reapply for the Apple Card.
Apple Card FAQs
What’s the grace period on the Apple Card?
The Apple Card gives you a 28-day credit card grace period (beginning on the first day of the new billing cycle). The grace period allows you time to pay your bills in full without racking up any interest charges.
If you pay off your balance in full by the due date, your purchases during the grace period won’t accumulate interest. However, if you carry a balance from previous billing cycles, you’ll have to pay interest on any purchases you make with your card during the grace period.
Can you get a cash advance with the Apple Card?
Credit card cash advances (where you use your credit card to withdraw money from an ATM) are not allowed on the Apple Card. Many cards for good-to-excellent credit allow cash advances, so if you need this feature, you’ll easily be able to find a suitable alternative.
Does the Apple Card allow balance transfers?
The Apple Card website doesn’t advertise balance transfers, and this isn’t a feature mentioned in the cardholder terms and conditions. If you want to move debt from one credit card to another or consolidate your debts, consider getting a balance transfer credit card specifically designed for this purpose.
Can you use the Apple Card while abroad?
You can use the Apple Card anywhere Mastercard is accepted. Apple’s foreign transaction fee is 0%. No-foreign-transaction-fee credit cards like the Apple Card are great for avoiding surprise charges if you use your credit card abroad or for shopping on non-US websites.
Note that Apple Pay is available in many countries, but there are still plenty of locations where it’s still not accepted as a payment method.
