Apple is one of the most recognizable brands in the world. The company has been making products for decades and has become synonymous with quality and innovation. Apple’s customers are known for being loyal to the brand, so it only makes sense that Apple would want to offer them an exclusive credit card. Here’s everything you need to know about this new product:
The Apple Card’s low APR is one of the best features of this credit card, but it’s important to understand how the two terms are different. A credit card’s annual percentage rate (APR) is what you’ll pay on all balances, no matter how much you owe or how long it takes for you to pay off your balance. The APR is a fixed amount that does not change over time.
- High interest rates can make credit cards really expensive for users who aren’t able to pay off their entire balance every month—and even if they do have enough money at hand, high interest rates still add up and make those monthly payments more expensive than they need to be!
- Low APRs are great because they keep costs down for users who pay off their balances every month or within a year or two after getting charged them originally—but in some cases people will carry debt on their cards longer than this amount of time before paying off all charges as well (and sometimes even after!).
The Apple Card offers a cashback feature that’s unique to the credit card world, but how does it work? The answer is simple: you get gift cards or Apple Store credit for every dollar you spend. Each purchase qualifies for cashback in the form of an Apple Store gift card, which can be used at any time. The cashback amount you receive depends on your credit score and what type of transaction you’re making with your card. In general, purchases made with a 0% APR will get 1% back in cash; purchases made with an introductory rate will get 3%; and other purchases will get 5%.
The main point here is that no matter what kind of purchase you make—for example, if it’s an Amazon purchase or another store—you’ll always have access to these rewards through Apple Gift Cards and/or credits toward future purchases in the Apple Store.
Apple Card isn’t linked to your Apple ID, iCloud account, Apple Pay or Apple Music account. It’s a stand-alone card that will not be associated with any of the services you use on an iPhone or iPad. That means if someone steals your phone and uses it for nefarious purposes (like making in-app purchases), they won’t be able to access the bank account connected to your Apple Card.
The company also takes security seriously—the only way for hackers to gain access is through brute force hacking methods like phishing attacks. All transactions are conducted using 256-bit AES encryption so even if someone does gain access through brute force hacking methods, they still won’t be able to access sensitive information such as credit card numbers or social security numbers.
No annual fees.
The Apple Card is, at its core, a credit card that offers you the ability to make purchases from your phone. With no annual fees, foreign transaction fees or balance transfer fees, it’s clear that Apple wants this to be more than just an all-purpose credit card; instead, it wants to be your go-to for everyday expenses.
The Apple Card’s main feature is that it allows for users to pay their monthly bill with their phone. This can happen either through Apple Pay or through an app called Wallet. When using Wallet, users will have access to an app where they can view their account information and see when payments are due on any given day of the month (which was something I found incredibly helpful). The app also allows users to add multiple cards — not just one — so if someone else has a different type of payment method (like PayPal), they can still be added in as well!
No late fees.
There are plenty of reasons to love the Apple Card, but one of the best is that it won’t charge you any late fees. That’s right: None. Unlike most credit cards, which will slap you with a fee of $15 or more if your payment is only a day late and then tack on another $35 if you’re three days behind, the Apple Card does not have any penalty APRs or fees for being late on your payments at all. This means that even if you miss a due date by just one day (and yes, there were times I missed my due dates), it doesn’t matter when or how much money comes out from their account to pay off the balance—it still won’t cost anything extra! And this is especially great news for people who tend to forget about their bills until they get angry calls from creditors warning them about late payments—because now those painful phone calls are gone too!
Nowhere to go but up.
The Apple Card is still new, and we’ll need to wait and see what happens with it over time. However, as it stands now, the card has some great features:
- You can use your phone or watch to make payments with Apple Pay. This saves you from having to carry around your physical credit card, which is convenient if you don’t have pockets or want to keep everything in your bag organized. Just keep in mind that when using Apple Pay on the go, there’s no way of knowing whether someone else will be able to pay for something with their own phone unless they let you know that they’re doing so.
- There are no foreign transaction fees! If you travel frequently outside of the U.S., this is an excellent perk that could save hundreds of dollars per year on those pesky international transactions (and those annoying ATM fees).
- The interest rate is lower than most other rewards cards at just 0% until 2020 – then 14%, but only if you miss two or more payments within six months’ time (or make excessive late payments). You also get access to investments through Motif Investing without any additional fees beyond those associated with investing in general – though there may be additional tax implications depending on how much money comes from this source versus other sources like rent/mortgage etc..
Other Things to Know About Apple Card
- You don’t get a rewards program. If you do your spending with the Apple Card, then you don’t get any points or miles, even if your purchases are made at an affiliated store such as a Best Buy.
- There are no balance transfer offers. Apple doesn’t offer this feature for its new credit card, so if you want to transfer a balance from another card, look elsewhere first.
- Extended warranties aren’t offered on most items purchased with the card (except iPhones). Instead of getting protection that lasts longer than what’s already included in some products’ warranties when bought through Apple Stores or online at the official Apple Store website itself—like cellphones —these gadgets come with standard protections that last up until two years after purchase date under most circumstances (check individual terms before purchasing). For example: An iPhone 7 Plus costs $899 but only has one year of warranty coverage when bought directly from Apple; however, buying one through Amazon Prime Exclusive means it comes with twice as long protection: two years instead of just one which is standard among all smartphones sold by Amazon Prime memberships – even though sometimes these phones cost less than $800 without special pricing deals like those found on their own websites and physical locations throughout North America.”
It’s a good card for people who own Apple products and like the company.
The Apple Card is a good card for people who own Apple products and like the company. It’s not a good card if you don’t own Apple products or don’t like the company. If you want to buy things from Apple, this is your best bet.
In summary: if you’re an iPhone owner, use this card!
Overall, the Apple Card is a good card for people who own Apple products and like the company. It’s not the best option for every single person out there, but if you’re an Apple fan, it may be worth looking into. We recommend comparing it with other credit cards before deciding whether or not to apply!