Apple has been offering a lot of features for its users’ convenience and the Apple Card is one of them. It is the company’s official credit card that was launched back in 2019. It’s been around five years since it launched and a lot of people are using it.
But is Apple Card worth it for you in 2024?
To answer this question, I need to go over the positive and negative factors of this credit card. In this article, I’ll discuss them comprehensively to help you know whether you need this card or not.
Let’s start!
What is the Apple Card?
Apple Card is the official credit card of Apple which is directly connected with your iPhone’s Wallet. It is designed to use the Apple Pay feature and is issued by Goldman Sachs. With its ultimate features, it is helpful for around 12 million people.
The basic reason why people prefer it over others is the no-fee policy. It does not have any annual fees that you should be worried about. Besides being free, it offers free cashback for loyal users which has attracted a lot of people to use it as well.
Is Apple Card worth it?
To answer “is Apple Card worth it”, you need to understand its features completely. Here are their details:
Easy application:
Applying for this card is super easy. The company has made it as user-friendly as possible. You can directly apply for it through the Wallet application on your iPhone. There is no need to go through complex paperwork. The application procedure takes only a few minutes.
Approval and credit score:
The company’s approval procedure is also quick. It analyzes your application and approves it as soon as possible. Also, the procedure does not impact your overall credit score at all until the offer is accepted.
Online and physical card:
The card is directly integrated with your Wallet application and you can start using it for online Apple Pay payments. However, there are a lot of places that don’t accept this online payment method. So, you can apply for an actual physical Titanium card as well.
Daily Cash:
Daily Cash is a form of free cashback that the cardholders receive while making payments. The criteria are different for purchases.
For example, you get 3% cash back at select merchants including Nike. In other stores, you get 2% cashback. This value is 1% for using the physical card.
Instant Rewards:
Understanding instant rewards is important for discussing the answer for “Is Apple Card worth it”. Other companies usually don’t offer you rewards immediately. They wait until the end of the billing cycle and offer them after making calculations. But that’s not the case with it. It offers instant rewards right after you make a purchase. You get notified about it via a push notification on the phone.
Interest on rewards:
In case you decide not to redeem the reward and store it in your Apple savings account, you’ll get an interest on it. The current rate is 4.25% but it can change according to different policies.
No fees:
There are no fees attached to the application for usage of Apple Card. In other words, you don’t have to pay an annual fee for it. The same goes for foreign or late payments. However, some interest is applied in case you miss any payment.
Safe and secure:
It is very safe and secure. Apple uses decent hardware and software security protocols to keep it safe. According to the company, it doesn’t use any transaction information that can be traced back to the user.
Drawbacks of Apple Pay
Besides the great features, understanding its drawbacks is also important to answer “is Apple Card worth it”. I’ve listed their details below:
- It does not provide many travelling perks. There are no rewards for things like hotels and plane tickets.
- It does not contain the card number on the physical card. It creates issues when making online purchases with no Apple Pay option.
- There are no welcome bonuses or rewards provided to the user.
- The partnership with Goldman Sachs is uncertain and can change in the future.
Should You Buy an Apple Card?
The answer to this question is, yes. Apple Card is totally worth it in 2024. It is a great option for Apple users. It offers smooth payment methods along with great cashback rewards. The physical card looks cool and can be used anywhere needed.
However, if you’re not satisfied according to the drawbacks mentioned above, you shouldn’t go for it.
Conclusion
“Is Apple Card worth it” is one of the many questions people who are curious about their financials ask. The straightforward answer is “yes”. It has been specifically designed for Apple users and can be used both online and physically. There are no fees attached to it and you can acquire it by going through a simple procedure. For each purchase, it offers cash back as well.
FAQs
Can an Android user apply for an Apple Card?
This card requires having a device that supports Apple Pay. So, probably not.
Are there any annual fees for it?
No. It does not have an annual fee.
Can I save my cashback rewards and get interest on it?
Yes. You can save your cashback reward to get interest on it as well.
