Only Apple Fans Need Apply
Dont have an iPhone? Well then you wont have an Apple Card. You use Apple Wallet to apply for the Card and activate the Card, so if you dont have an iPhone, you wont be able to apply for one.
But if you dont have an iPhone, you may not be an Apple fan, in which case there are other better credit cards for you anyway.
Alternatives To The Barclays Visa With Apple Rewards Card
If your goal is to make Apple products more accessible by breaking a large expense into smaller monthly payments, the Barclays Visa® with Apple Rewards might well be your best option. In the larger scheme of things, however, a better goal than making Apple products more accessible is making Apple products more affordable which you can do by opting for a cashback card, the rewards from which will actually reduce the net cost of your Apple purchases. Here are three cards to consider.
Spend Tracking And Budgeting
All transactions made with the Apple Card are listed clearly in the Wallet app with color-coded categories like Food and Drinks, Shopping and Entertainment, and more. Apple Card also provides weekly, monthly, and yearly spending summaries, again using the same color coding so you can see what you’re spending at a glance.
Along with categorized spend tracking, the Wallet app provides a Total Balance summary that provides a look at your previous monthly balance, new spending (including pending transactions, and any payments or credits that have been made.
Interest charged and Daily Cash earned are also offered up, and users can see PDF statements from past months.
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Essential Reads Delivered Weekly Your Credit Cards Journey Is Officially Underway Keep An Eye On Your Inboxwell Be Sending Over Your First Message Soon Why Was My Application Declined
As with any credit card application, your credit score and credit report will be key factors in deciding whether youre approved for the Apple Card.
That said, its still possible to be denied for a credit card with excellent credit, and Goldman Sachs considers a number of other criteria when evaluating Apple Card applications, including whether your identity can be verified and your income, banking history and debt obligations.
Heres a breakdown of the reasons you may be denied the Apple Card, according to Apple:
If Your Application Is Declined Because Your Identification Information Couldn’t Be Verified
Make sure your name, address and other information provided on your Apple Card application is correct. If you find inaccurate information, re-enter the information as needed.
If you are asked to verify with an ID, follow these steps:
After you complete these steps, submit your application again. If your application is declined again for the same reason, contact Apple Support.
Your credit score won’t be impacted if you’re declined, or don’t accept your offer. Your credit score might be impacted if your application is approved and you accept your offer.
You can apply for Apple Card again, but you might receive the same decision.
If you want to receive a different decision on your application when you apply again, you should review your credit report to see if you have conditions that might result in a declined application and then check for these common errors in your credit report.
*If the information on your ID doesn’t match the information you entered for your Apple Card application, try to apply again after you update your ID.
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Why Your Application Is Pending Or In Review
Goldman Sachs might need more time to review some applications, or request more information to verify your identity. After you apply, you are shown a message in Wallet app that will indicate your application is in review. Updates regarding your Apple Card application will be sent to the primary email address associated with your Apple ID.
How To Sign Up For The Apple Card
To get started, you’ll need an iPhone running the lastest version of iOS. You’ll need to be 18 years or older and a U.S. resident to sign up. Apple requires you to have two-factor authentication turned on, and if you’ve put a freeze on your credit report, you’ll need to lift that so that Goldman Sachs can run a credit check on you once you apply. It would also be a good idea to have a drivers license or state ID card within reach in case you’re asked for additional info during the sign-up process.
Once all that’s squared away, here’s what you need to do.
1. On your iPhone, sign into iCloud using your Apple ID .
2. Launch the Wallet app on your phone, and hit the big Plus icon that’s at the top of the screen. When Apple Card launches, you’ll have the option of selecting Apple Card to begin the sign-up process.
3. You’ll be prompted to fill in your first and last name, date of birth, home address, the last four digits of your social security number, your country of citizenship and an estimated annual income. Goldman Sachs may prompt you for more info when you apply, such as your full social security number or a scan of a drivers license or state ID card.
4. Agree to the terms and conditions of Apple Card, and the application process is complete.
Once you’ve accepted Apple’s terms, you’re ready to start using your Apple Card just like you would any card stored in Apple Pay.
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About Apple Card Family
Apple Card Family lets you co-own your Apple Card account with one member of your Family Sharing group. You can share your credit line with a co-owner and build credit together as equals. You can even invite another Apple Card owner to combine credit limits with you and form one co-owned account.1 You can also share your Apple Card with members of your Family Sharing group, including teens and adults. Everyone on the shared account can use Apple Card and view their spending. Account owners and co-owners can see a participant’s activity, set transaction limits, and more. And there’s a single monthly bill.
Six people including you can be on a shared Apple Card account. You can invite up to five members of your Family Sharing group to join and one of those five can be an account co-owner. Participants must be 13 years or older and account co-owners must be 18 years or older.
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Make All Of Your Required Payments On Time
To complete this step, regularly make on-time payments on your loans and lines of credit to keep your accounts in good standing. This excludes medical debt. It also excludes any payment where you’ve agreed with the lender to suspend all payments for a period of time due to hardship. Your required payments must be reported as paid on your credit report until the date that you complete the program.
To help ensure that you make all of your required payments on time, you can set up autopay. When you don’t make timely minimum payments on credit cards or loans, it can be reported as a negative event to credit bureaus. This puts your account in delinquency and lowers your credit rating.
If you’re a few days late on a required payment, contact your lender immediately to see if making a payment will avoid past due or late credit reporting to the credit bureaus.
Cash Back Depends On What And How You Buy
The amount of cash back you get depends upon what items you buy and how you buy them: 2% Daily Cash every time you use Apple Card with Apple Pay, 3% Daily Cash on all purchases made directly with Apple, including at Apple Stores, apple.com, the App Store, the iTunes Store and for Apple services, and using Apple Pay for Uber and Uber Eats.
While the 3% cash back is generous if you buy a lot of Apple products, the 2% cashback category is restrictive if a retailer doesn’t accept Apple Pay, you’ll only get 1% cash back. Many other cashback cards allow you to earn up to 2% on most purchases.
Unlike some other cash back cards, such as the Discover it® Cash Back and the Capital One® Savor® Cash Rewards Credit Card, the Apple Credit Card has no sign-up bonus to reward new customers.
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How To Maximize Your Rewards
Maximizing rewards with the Apple Card is all about strategic spending. First, you’ll want to use the card to pay for any Apple purchases you plan to make, including things like recurring subscription services. This will get you that juicy 3% Daily Cash rewards rate.
Next, you can continue earning 3% Daily Cash by using your card at that short list of partner merchants mentioned above. If you spend $20 a day on Uber and Uber Eats, for example, that’s $219 a year you could pocket.
Using your card with Apple Pay everywhere else is the third way to maximize rewards, scoring you that cash back at the 2% rate.
What you might want to consider, however, is skipping using this card at merchants or websites that don’t accept Apple Pay. For example, if you regularly buy groceries from a gourmet grocery in your neighborhood that doesn’t take mobile payments you might be better off with a card that pays 2% or 3% back at supermarkets instead.
Card Application Process Starts From Your Phone
Applying for the Apple Credit Card is as simple as opening the Wallet app and clicking the + sign at the top of the screen. Then, you will see a screen that gives you the option of applying for the card.
There are a number requirements to get an Apple Credit Card:
- You must have an iPhone 6 or later model with the latest version of the iOS.
- You must use two-factor authentication a second method of verifying your identity on top of your password with your Apple ID.
- You must sign into iCloud with your Apple ID.
Goldman Sachs, who issues the Apple Credit Card, will review your credit score, credit report and your stated income to determine whether they will extend credit to you.
When you apply, Goldman Sachs initially does a soft credit pull, which allows them to check your credit without affecting your score. Through that soft credit pull, they are able to let you know what your credit limit and APR would be. If you accept the offer, they will then do a hard pull of your credit, which could impact your credit score. Once you accept the offer, the card will be added to your wallet. You can also request your physical titanium Apple Credit Card, to be used when a retailer does not accept Apple Pay.
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Apple Card Interface Is Pure Apple
Apple Card’s best feature is how it displays your spending information. Instead of a traditional credit card statement, Apple’s designed a beautiful and interactive interface in the Wallet app that makes it easy to track your spending.
It’s super cliché to say Apple just repackaged credit card data into a more visually pleasing interface, but it’s 100 percent true and not dissimilar to how Mint made managing your money more tolerable with charts and graphs.
I really can’t praise the Apple Card spending interface enough. It’s so straightforward that a child could understand it, and makes me wonder why nobody else did it first.
Every piece of spending data is neatly laid out so that you can understand it all at a glance. At the top is your digital Apple Card. It starts out as white a blank card with full credit and changes colors in real time as you make purchases across different transaction categories.
Yellow is for shopping, orange is for food and drinks, purple is services, green is travel, blue is transportation, pink is entertainment, and red is for health.
I mostly used my Apple Card for food and drinks so my digital card was predominantly orange. But it got splotches of blue when I rented Citibikes and pink for my monthly iCloud subscription.
This color-shifting visual card was really effective at making me more conscious of what I was spending my money on I felt guilty seeing my Apple Card almost entirely orange and a $90 balance beneath it.
What Apple Card Is
Apple Card is a virtual and physical MasterCard credit card, issued by Apple jointly with the bank Goldman Sachs. You can use the Apple Card to make purchases as you would any other credit card, but there are significant differences between Apple Card and many other credit cards.
You can decide if Apple Card features work well for you. If you decide it does, you can request to apply for one at the Apple Card page on the Apple Store website. Note that as of this writing, Apple Card is invitation-only.
But it may not be the best credit card choice for you. More on that below
This Card Is Right For You If:
The Apple Card can be a smart choice if you’re building or rebuilding your credit, because its benefits compare favorably to other credit cards for consumers with fair credit. The fact that it explains how much interest you’ll pay based on your payment amount also makes it useful if you’re new to credit cards.
Anyone who has good or excellent credit, meaning a FICOÂ® Score of at least 670, is better off looking elsewhere.
With a credit score in that category, you can qualify for some of the best credit cards, and the Apple Card doesn’t make that list. It’s a solid card, but if you shop around, you could find plenty of cards with higher cash back rates, sign-up bonuses, and/or more valuable 0% intro APR offers.
Are The Benefits And Rewards Worth It For Apple Fans
We publish unbiased reviews our opinions are our own and are not influenced by payments we receive from our advertising partners. Learn about our independent review process and partners in our advertiser disclosure.
If youre among the Apple faithful, its worth taking a look at the Apple Card. The card, issued by Goldman Sachs, reserves its best rewards for Apple purchases and transactions made using Apple Pay, which makes it less of a physical card than it is an incentive program for using Apples proprietary technology.
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If Your Application Is Approved
You have up to 30 days to accept your offer. If you accept your offer and add Apple Card to your eligible iPhone or iPad, you can:
- Use Apple Card to make purchases anywhere Mastercard is accepted and get unlimited Daily Cash.
- Manage your account in the Wallet app or from your Apple Card web account to make or schedule payments, download PDF statements, and see your balance.
- Set Apple Card as your default payment card for Apple Pay, the App Store, Apple Music, and other Apple services.
- If you have Apple Card Monthly Installments, you can see your plan in the Wallet app or see your plan online.
- Use Apple Card on all of your eligible devices. Learn how to add your Apple Card to your Apple Watch, iPad, or Mac.
Generous Cash Back On Apple Purchases
For true Apple acolytes, Apple’s own credit card, the Apple Credit Card, is hard to beat. Designed to live primarily on your phone for making digital payments it promises “daily cash” with “no points” and “no gimmicks.” Every time you use it, you receive a cash balance on your card you get 2% Daily Cash every time you use Apple Card with Apple Pay, 3% Daily Cash on all purchases made directly with Apple, including at Apple Stores, apple.com, the App Store, the iTunes Store and for Apple services, and using Apple Pay for Uber and Uber Eats.
What makes the card such a winner for Apple fans, however, is that you get 3% cash back on all purchases from Apple, including not only Apple devices and accessories, but also apps from Apple’s app store, music from Apple’s iTunes store and services like Apple Music subscription and iCloud storage plan. If you spend $2,399 on a MacBook Pro, that means you’ll get approximately $72 cash back just for buying it, which instantaneously reduces the cost of your new computer to $2,327. If you regularly transact with Apple, the savings become even greater. If you use your card enough on gas, groceries, bills and other non-Apple purchases you could even earn enough cash back over a period of years to pay for your entire device.
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Apple Card Monthly Installments
You can buy a new Mac, iPhone, iPad, Apple Watch, and more with interest-free monthly payments on purchases at Apple. Just choose Apple Card Monthly Installments and then check out. Your installment automatically appears on your Apple Card statement alongside your everyday Apple Card purchases in the Wallet app. If you have an eligible device to trade in, youll pay even less per month. And youll get 3% Daily Cash back on the purchase price of each product, all up front. If you have Apple Card already, theres no additional application. If you dont, you can apply in as little as a minute during checkout, from the privacy of your iPhone.