Quick Answer: Is The Apple Card Worth It?

Why is Apple card bad?

One of the biggest drawbacks of the Apple Card is that its cash back program is not that rewarding.

Cardholders receive bonus cash on Apple purchases: 3 percent cash back on everything you pay from Apple – including Apple Store, apple.com, App Store and iTunes purchases – and 2 percent cash back on Apple Pay purchases..

Can I use my Apple card anywhere?

Pay with Apple Card anywhere Apple Pay is accepted, and use the titanium Apple Card or card number anywhere Mastercard is accepted.

What is the max credit limit on Apple card?

$15,000Apple Card Gave Me a $15,000 Credit Limit.

Does an apple card build credit?

The card rewards Apple purchases as well as in-person and online shopping through Apple Pay, but also helps consumers pay off their balances, save money on fees and interest and build their credit over time.

What credit score do you need for Apple card?

Apple Card uses FICO Score 9. FICO Score 9 ranges from 300 to 850, with scores above 660 considered favorable for credit approval.

Does Apple card lower credit score?

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.

Is Apple card monthly installments worth it?

In many cases, it can be a good idea to finance your new iPhone with the Apple Card. Not only will you earn 3% cash back on your purchase, but you can also save on interest charges and pay off the phone over time.

How difficult is Apple card?

The Apple Card’s credit score requirement is 700 or higher. That means applicants need at least good credit to qualify for an Apple Credit Card account. While it’s possible to be approved with a lower score due to a high income or other positive factors, it’s best to not take the risk.

Is the Apple card a good credit card?

Apple Card Review Verdict: The Apple Card is a rewarding option for people with good credit or better who regularly buy Apple products and services, as well as for iPhone, Mac and iWatch users who are comfortable making purchases using Apple Pay. … The Apple Credit Card has some financial appeal for new Apple purchases.

What are the benefits of the Apple card?

A simpler, smarter credit card.Get 2% Daily Cash back every time you pay with your iPhone or Apple Watch.See each purchase go through right away. … View item-by-item receipts from your Apple services.Your Daily Cash lives in the Wallet app. … Take the guesswork out of interest payments.Payment reminders.More items…

What are the pros and cons of Apple card?

Apple Card Pros & ConsProsConsStrong security features No fees Physical credit card available Various spending management featuresMust use Apple Pay for the best rewards earnings1 more row•Dec 13, 2019

Does Apple card build credit score?

The Apple Card reports to TransUnion but does not report to Experian or Equifax. “Certainly, yes,” a card can help you build credit, says John Ulzheimer, who has worked at credit bureau Equifax and credit analytics company FICO. … The Apple Card is limited in credit reporting. But that doesn’t mean you can miss payments.

Can my wife use my Apple card on her phone?

spouses and family members cannot share a single Apple Card account. There is no option for multiple users or sharing cards at this time.

Does Apple Card have a daily limit?

Unlimited Daily Cash And there’s no limit to how much you can get. Use it to buy things in stores, on websites, and in apps. Make a payment on your Apple Card. Pay back a friend in Messages.

Can I withdraw cash from Apple card?

One important thing to note about the physical card, though, is that you could at least in theory use it to withdraw cash from an ATM — but you mustn’t. Some cards charge you a fee for this, and Apple has explicitly stated that it does not charge fees for anything.

Can I use my Apple card on Amazon?

Apple Card can no longer be used when shopping at Amazon. Existing cards have been removed as payment options.

Should I cancel my apple card?

It’s important to mention that by cancelling your Apple card you could potentially hurt your credit score. Maybe it’s best if you just leave your account open without using it any more.

How long does Apple card approval take?

It can take somewhere between 7-10 business days to get approved for the Apple Credit Card. In some cases, you could get immediately approved. If you do, you’ll get an offer with your initial credit limit and APR after applying. If you accept the offer, you can start using your Apple Card with Apple Pay.

What is the catch with Apple card?

But yes, there is a catch. While Apple won’t charge you a penalty for missing a payment — for example, no $25 late fee in addition to what you already owe — you’ll still get charged interest. According to Apple’s website: Late or missed payments will result in additional interest accumulating toward your balance.

Does Apple card automatically increase credit limit?

How to request a higher credit line with the Apple Card. Goldman Sachs doesn’t offer automatic credit limit increases like many other issuers do, but you can request an increase on your Apple device by chatting with an Apple Card customer service representative.