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Our verdict
In collaboration with Goldman Sachs, the $0 annual fee Apple Card features a variety of consumer-friendly features. This credit card has no late fees, returned payments fees or foreign transaction fees. The Apple Card also offers unlimited daily cashback rewards on Apple purchases, 3% cash back at select merchants and 2% cash back everywhere else when you use your iPhone or Apple watch to pay with the Apple Card. If you also sign up for the Apple Savings account, Daily Cash rewards are automatically transferred to the savings account to earn 4.15% APY. Or you can send the rewards to Apple Cash, where you can spend it or send it. But you’ll need to be an iPhone user with iOS 12.4 or later to get the card, and there’s no 0% intro offer that we normally see with top cards.
Best for: iPhone users who frequently use Apple Pay.
Pros
No annual, late or foreign transaction fees
Up to 3% in unlimited Daily Cash rewards
Cohesion with Apple Savings account
Up to five users with Apple Family
Cons
Requires an Apple Watch or iPhone with iOS 12.4 or later
Good credit likely required
No 0% intro rate offer
Who is the Apple Card best for?
If you already use Apple Pay on the regular, this might be a great addition to your Wallet. As a regular Apple Pay user, the Apple Card can be a simple way to stack up rewards, with cash back ranging from 2% to 3% on all purchases made through Apple Pay.
The card is extra sweet if you’re a T-Mobile customer because you can earn rewards for paying your phone bill. You can earn 3% Daily Cash at T‑Mobile US stores and 3% Daily Cash for automatic bill payments.
If you frequently purchase Apple products, such as MacBooks or iPads, then the Apple Card offers additional benefits. With the Apple Card, you get 0% APR when you purchase a new iPhone, iPad, Mac, Apple Watch or other eligible accessories using Apple Card monthly installments.
What we like about the Apple Card
Many credit cards charge annual fees, typically around $90. But you’ll pay no annual fees with the Apple Card. There are also no late, over-the-limit or foreign transaction fees.
Apple also offers Apple Card Family. You can invite an adult co-owner to share equal responsibility and benefits for the account and add participants aged 13 or older to spend within limits and earn Daily Cash. You can add up to four other people to share the account with and access this function in the Wallet app for quick adds.
Daily Cash rewards
There’s no limit to how much Daily Cash you can earn, and you get the most rewards by using Apple Pay.
Unlike other cashback programs, Apple posts Daily Cash directly to your Apple Card account, allowing you to spend your rewards almost immediately. You can redeem Daily Cash earned using Apple Pay, send it to other Apple users through iMessages or opt to send the rewards to your Apple Savings account if you get one.
Reward
How to earn
3%
All Apple purchases
U.S. Nike store purchases
Select Panera Bread purchases
Walgreens purchases
Exxon Mobil purchases
Ace Hardware purchases
Uber purchases
T-Mobile purchases and auto bill pay
2%
Purchases through Apple Pay
3%
Purchases with physical card
Increase rewards with high-yield Apple Savings Account
Apple now offers the Apple Savings Account in conjunction with the credit card. To get the savings account, you need the Apple Card — and they work great together.
With the account, Daily Cash earnings are automatically transferred into the high-yield account, which has an impressive 4.15% APY. The account also comes with no fees, no balance requirements and no opening deposit.
The 4.15% APY is higher than the national average by a large margin and beats out a lot of the competition.
Simple application and fast delivery
The application for the card takes minutes, and you can do it right in your Wallet app. Once approved, the Apple Card is immediately added to your mobile wallet so you can use it right away. Apple will also ask if you want an optional physical card, which takes four to seven days to arrive.
Where the Apple Card falls short
If you don’t have an iPhone, you can’t qualify for the Apple Card. You’re also required to have an iPhone iOS 12.4 or later.
Exact credit score requirements aren’t clear, but Apple does state that credit scores above 660 are considered favorable for approval. To see if you’re eligible, you’ll have to apply and wait for a credit decision, which is done with a soft credit check.
Unlike some of the best credit cards, Apple doesn’t offer a 0% introductory rate offer (except on select Apple product purchases), and there are no reward options for frequent flyers.
Also, unlike most other credit cards, there are no cash advance features, so you can’t use your Apple Card to withdraw money from an ATM.
Apple Card fees
Type of fee
Details
Annual fee
$0
Foreign transaction fee
$0
Card replacement fee
$0
Over-the-limit fee
$0
Compare Apple Card to other credit cards
Narrow down top credit card offers by credit score requirements, annual fees and rewards. Tick the Compare box to see up to four offers side-by-side for a closer comparison.
Bethany Hickey is a personal finance writer at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine.
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