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Everyone is getting in on the credit card game and yesterday Apple joined the fight with its brand-new Apple Card. At first glance, it looks as good as you’d expect a product from the world’s richest company: stylishly designed, its sleek and minimalistic (not even a credit card number!), and odds are heads will turn when you pull this baby out of your wallet. But how are its perks?

Apple’s Credit Card: What We Know

Fees

According to Apple’s website, which boasts the upcoming release of the card as summer 2019, the Apple Card will be fee-free. That’s right, fee-free. That means no:

  • Annual fees
  • Overlimit fees
  • International transaction fees
  • Late payment fees

These aren’t exactly groundbreaking within the travel card community, but the lack of late payment fee is nice if you’re like me and occasionally happen to be on an airplane when your payment comes due.

Rewards

Apple’s earning structure is interesting. Obviously, they’re favoring themselves here, as evidenced by the 3% cash back offered on all Apple purchases. Other than that, you earn 2% cash back on all Apple Pay purchases and 1% on every purchase made with the physical Apple Card.

Rewards are called Daily Cash – and they’re exactly that. Every day the amount you’ve earned is transferred to your Apple Cash account for you to use. It’s simple and easy.

Comparing the Apple Card to other cards

This card sits solidly in the middle ground in terms of no-fee credit cards. Some competitors include:

  • Citi Double Cash Card: offers 1% cash back on spend and 1% upon payment, for a flat 2% on every purchase.
  • Capital One Savor One Cash Rewards Credit Card: earns 3% cash back on dining and entertainment, 2% on groceries, and 1% on everything else.
  • Chase Freedom Unlimited: earns a flat 1.5% on every purchase. Notably, rewards come in the form of Ultimate Rewards points, which means that possessing one of three other Chase cards (Chase Sapphire Preferred, Chase Sapphire Reserve, or Ink Business Preferred Credit Card) turns your flat cash back into fully usable Ultimate Rewards points, allowing you to transfer to one of Chase’s many travel partners in order to redeem outsized value.

Who Is This Card For?

While this card isn’t a game changer for most, there are a few people who could do well to sign up for the Apple Card. First, Apple enthusiasts would do well with the 3% cash back on all their different MacBook/iPad/iPhone purchases. Second, those who are interested in the idea of a rewards earning card but balk at paying annual fees could do worse- especially if they’re keen to use Apple Pay, which puts this card at the forefront of no-fee cash back earning cards. Its only real competitors are similar no-fee cards like the Citi Double Cash Card, which offers 1% cash back on spend and 1% upon payment

Is anyone here looking to sign up for the card? Sound off below!


Points With a Crew has partnered with CardRatings for our coverage of credit card products. Points With a Crew and CardRatings may receive a commission from card issuers. Other links on this page may also pay me a commission - as always, thanks for your support if you use them

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