Apple Credit Card Review

Apple Credit Card Review

Reviewed by Credit Carrots (2020)

Apple Credit Card Review

TL;DR: Apple continues its plans for world domination with the launch of their very first credit card product – the Apple Card. It’s a cash back card that gives you between 1% and 3% depending on how you pay and whether you’re buying directly from Apple.

Apple Card

Apple's very own credit cash back credit card

Annual Fee

The Apple Card has no annual fee.

Cash Back Categories

  • 3% on all purchases made directly with Apple and other select retailers
  • 2% when using Apple Pay
  • 1% when using the physical credit card

Top Additional Perks

  • No FX Fees
  • No Late Fees
  • No Over-limit Fees


What the Apple Credit Card is all about

Apple continues with its plans for world domination with the launch of their very first credit card product – the Apple Card. This is a collaboration between Apple, Goldman Sachs, and Mastercard.

Apple card is meant to live in the Apple Wallet app on your iPhone, and is aimed at simplifying the credit card experience. It’s got innovative features such as daily cash – which gives you a percentage of your purchases as cash every day. This is different from many other cash back cards as they tend to either disburse the cash back once a year, or make you manually redeem your cash back balance.

The card is primarily meant to be used through Apple Pay, but there are still many places that don’t accept this. That’s why you will get a laser-etched titanium card for use in those situations. As with all Apple products, the physical card is beautiful!

Read on to learn more about the benefits that come with the Apple credit card.

How to Earn Cash Back

Apple Card Earn Rates

The beauty of a cash back credit card is that you get cold hard statement credits rather than the sometimes confusing reward point system.

The Apple credit card offers the following.

3% cash back when buying directly from Apple and other select retailers. If you’re an Apple fan there’s nothing better than saving extra money on things you were going to buy anyways. You also get 3% cash back on purchases with Uber, Walgreens, Exxon, Nike, Duane Reade, and T-Mobile.

2% cash back when using Apple Pay. For a credit card with no annual fee this is about as good as it gets. Good job Apple!

1% cash back when using the physical card. 1% cash back is pretty mediocre so we would suggest not using the physical card if at all possible. If the merchant doesn’t accept Apple Pay, then we would suggest using another cash back card such as the Citi Double Cash – which will give you 2% cash back and also doesn’t have an annual fee.

Additional Benefits and Features

What else does the Apple Card get you?

The Apple Card isn’t a powerhouse when it comes to extra benefits. Where it excels is making payment simple for iPhone users.

  • No foreign transaction (FX) fees. This is a key feature for any international traveler. If you’re charging a foreign currency to your standard credit card, it would cost you over 2% extra for the currency conversion. With no FX fees on the Apple Card, you only pay what the banks pay to convert your currency.
  • No Late Fees. You won’t get dinged with an extra fee if you’re late on your payment. This makes sense to us since you would already be paying extra interest if you’re late on your payment, and we wished more companies did this.
  • No Over-limit Fees. Many credit cards will allow you to go over your credit limit, and then charge you an additional fee for doing so. With Apple Card, they are doing away with this ridiculous fee!
  • Financial Tools: Apple brings its famous design touch to credit card statements. The tool helps people understand how their spending and behaviors are affecting their finances.