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Is the Apple Card Worth it?

A BITE OF APPLE

Apple Card
(Some pros and cons of the Apple Card)
Apple has a new credit card, and like anything made by Apple, consumers are curious. Let's review some of the pros and cons of the Apple Card.

Apple Card Pros

  • No Fees. The Apple Card comes with zero fees. That means no late fees, no yearly fee, no international fee, nothing.
  • Daily Cash Back. Many rewards cards offer monthly cash back, but the Apple Card takes things to the next level by giving you cash back every single day. As USA Today reports, you'll get three percent cash back on every Apple purchase, two percent back on purchases using Apple Pay and one percent on purchases made without Apple Pay. Then, at the end of each day, you'll get that cash automatically deposited back to your card.  
  • Low Interest Rate. The early reports on the Apple Card are that it comes with a variable interest rate of 12.99 percent to 23.99 percent. That's on the low end for a rewards credit card. 

Apple Card Cons

  • Varying Rates. The Apple Card comes with a low, wide-ranging interest rate. That means it's worth checking out if you have excellent credit, but not if you have average or poor credit.
  • Lower Cash. The daily cash back is great, however, compared to other rewards cards, a three percent offer is quite low. Many rewards cards feature a wider variety of ways to earn rewards and more cash back than what the Apple Card offers. 

Storage Problems

Apple recently announced that the card can be damaged when it comes into contact with denim, leather, other credit cards and hard objects. And even though it’s made of titanium, there are already reports that the card is breaking. In other words, the thing is delicate. If you'd rather not have to handle a credit card with white gloves, move on from the Apple Card
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