# Is the Apple Card a Good Investment? A Detailed Analysis
Launched over six years ago, the Apple Card has gained immense popularity. It features a user-friendly interface, appealing benefits such as interest-free Apple financing, and more. Here’s everything you should know to determine if the Apple Card is a good fit for you.
## Quick Facts about Apple Card
– Apply and manage directly through the Wallet app on your iPhone
– Receive a complimentary Apple-designed titanium card
– No late fees involved
– No over-limit fees
– No fees for foreign transactions
– Developed by Apple with a financial backend supported by Goldman Sachs
– All payments are due on the last day of the month
– Check if you’re approved with just a soft credit inquiry
– [Apple Card Savings Account](https://9to5mac.com/2023/04/17/apple-card-savings-account-hands-on-and-how-to-sign-up-to-start-earning-interest/)
## What is Daily Cash?
“Daily Cash” refers to the cashback earned from purchases made with your Apple Card. Unlike many other cashback credit cards that credit rewards at the end of each billing cycle, you earn Daily Cash as soon as the transaction is posted to your Apple Card balance. By default, Daily Cash is automatically deposited into your “Apple Cash” balance, which can be utilized for Apple Pay transactions, sent to friends and family through Messages, or transferred to your linked bank account. Alternatively, you can apply Daily Cash rewards directly to your Apple Card balance.
Apple has also launched the Apple Card Savings Account, enabling users to instantly deposit Daily Cash, which currently offers 3.90% interest.
## How Much Daily Cash Can You Accumulate?
The Apple Card includes a variety of reward structures depending on the merchant and method of purchase:
– **3% Daily Cash** on transactions made at Apple Stores, Apple’s website, and for digital purchases through the App Store, iTunes, and Apple services.
– **2% Daily Cash** on all purchases conducted using Apple Pay in-store and online.
– **1% Daily Cash** on all other purchases.
Moreover, you can receive 3% Daily Cash at select retailers, such as Ace Hardware, Nike, and Uber.
## Monthly Installments with Apple Card
The “Monthly Installments” feature enables you to finance Apple product purchases over time with no interest charges. You can finance various Apple items, including iPhones and MacBooks, while earning 3% Daily Cash on these transactions. These installments count toward your overall Apple Card credit limit.
## Security and Privacy of Apple Card
Apple Card comes equipped with multiple security features to safeguard your information:
– Advanced Fraud Protection with a security code that refreshes daily.
– No card number or security code displayed on the physical card.
– The option to lock your Apple Card via the Wallet app.
– Instant notifications for transactions.
## Apple Card Sign-Up Incentive
Currently, Apple is providing a sign-up incentive of $75 in Bonus Daily Cash after you spend $75 within the first 30 days.
## Apple Card Savings Account
The Apple Card Savings Account permits users to automatically channel Daily Cash rewards into a high-yield savings account, currently featuring a 3.65% APY, with a promotional rate of 3.90% available for a limited time.
## Is the Apple Card a Good Investment?
The Apple Card offers attractive perks and reward structures, particularly for frequent Apple shoppers. It is advisable to consider if:
– You are not worried about a potential one-time dip in your credit score.
– Apple Pay is commonly accepted at your preferred shopping locations.
– You regularly purchase Apple products and services.
– You can responsibly utilize the Monthly Installments feature for 0% financing.
– You enjoy managing all functions via the Wallet app.
Nonetheless, it is not an essential credit card, as other providers offer competitive cashback programs.
## Insights from Experts
Experts point out that while the Apple Card has notable advantages, other rewards credit cards might deliver greater value through transferable points and higher cashback percentages across various categories. For instance, cards like Chase Freedom or Citi Premier can yield significantly more value for the same expenditure.
## Conclusion
Credit cards can serve as a beneficial financial tool if managed monthly. The Apple Card is an excellent option for certain purchases, especially with Apple Pay, but it may not be suitable for everyone. Evaluate your spending habits and preferences before applying.
