# Everything You Should Know About the Apple Card
As we near the sixth anniversary of the Apple Card’s introduction, it has become a favored option among users seeking a credit card that blends effortlessly with their Apple ecosystem. If you’re thinking about applying for the Apple Card, this article outlines all the key details regarding its features, advantages, and whether it aligns with your needs.
## Apple Card Key Facts
– **Application and Management**: Submit your application and oversee your account right through the Wallet app on your iPhone.
– **Physical Card**: Obtain a complimentary Apple-designed titanium card.
– **No Fees**: Benefit from no late fees, no over-limit fees, and no foreign transaction fees.
– **Financial Support**: The card is issued by Apple, with financial services facilitated by Goldman Sachs.
– **Payment Due Date**: All payments must be made by the last day of the month.
– **Credit Check**: Discover your approval status with just a soft credit inquiry.
– **Savings Account**: The Apple Card includes a savings account feature.
## What is Daily Cash?
“Daily Cash” refers to the cashback you accumulate on transactions made using the Apple Card. Unlike several other cashback cards that distribute rewards at the end of a billing cycle, Daily Cash is added to your account immediately once the purchase is processed.
By default, Daily Cash is credited to your Apple Cash balance, which can be utilized for Apple Pay transactions, sent to friends and family via Messages, or transferred to your linked bank account. You can also apply Daily Cash rewards directly to your Apple Card balance if you do not have an Apple Cash account.
Recently, Apple rolled out the **Apple Card Savings Account**, permitting you to deposit your Daily Cash instantly while earning a competitive interest rate.
## How Much Daily Cash Can You Earn?
The Apple Card employs a tiered cashback system:
– **3% Daily Cash**: Earned on purchases at Apple Stores, Apple’s website, and various digital purchases from the App Store, iTunes, and Apple services such as Apple Music and Apple TV+.
– **2% Daily Cash**: Earned on all transactions made using Apple Pay, both online and in physical stores.
– **1% Daily Cash**: Earned on all other purchases.
You can also receive 3% Daily Cash at select retailers such as Ace Hardware, Nike, and Uber.
## Apple Card Monthly Installments
A notable aspect of the Apple Card is the **Monthly Installments** feature, which lets you finance Apple products over time with 0% interest. You can finance multiple Apple products, including:
– **iPhone**: Financing for 24 months
– **Mac**: Financing for 12 months
– **iPad**: Financing for 12 months
– **Apple Watch**: Financing for 24 months
– **AirPods**: Financing for 6 months
When opting for this feature, you also earn 3% Daily Cash on the purchase amount, even before your initial payment is made.
## Apple Card Security and Privacy
Apple prioritizes security and privacy concerning the Apple Card. Important features include:
– **Advanced Fraud Protection**: The card’s security code refreshes each day.
– **No Card Number**: The physical card does not show a card number or security code.
– **Lock Feature**: You have the ability to lock your Apple Card via the Wallet app if it’s misplaced or stolen.
– **Real-Time Notifications**: Get immediate alerts for transactions.
## Apple Card Sign-Up Bonus
As part of a promotional deal, Apple is offering a sign-up bonus for new Apple Card applicants. If you apply by March 21 and complete 10 or more purchases each month, you can obtain $20 in Bonus Daily Cash until December 31.
## Should You Consider an Apple Card?
The Apple Card is an attractive choice for those who regularly shop at Apple and utilize Apple Pay. Here are a few reasons to think about applying:
– You are at ease with a possible temporary effect on your credit score.
– You frequently use Apple Pay at multiple retailers.
– You consistently buy Apple products or services.
– You can use the Monthly Installments feature wisely for financing.
However, it’s notable that there are alternative credit cards with competitive cashback options that may provide better rewards in distinct categories.
## Expert Insights
Emmanuel Crouvisier, creator of the CardPointers app, notes that while the Apple Card has its perks, other rewards cards may deliver greater value through transferrable points and elevated multipliers across different spending categories. He underscores that for those who spend significantly, other cards could provide substantially higher rewards.
## Conclusion
Credit cards can serve as effective financial instruments, but they must be used judiciously. The Apple Card presents various benefits, especially for Apple aficionados, but it may not suit everyone. Always evaluate your spending behaviors and financial objectives before applying for a credit card.
