Apple Card 2021 Review: Is It Right for You?

Top perks

No fees: The Apple Card doesn’t have any fees. This includes no foreign transaction fee, which is a fee you often see among cash back cards and no-annual-fee cards. Just keep in mind that even though you won’t incur a fee for missing a payment, your balance will still incur interest charges and your credit score will suffer once your account is 30 days past due.

Up to 3% back: You’ll earn 3% cash back on purchases made through Apple, as well as purchases made using Apple Pay with select merchants that have partnered with Apple. You’ll earn 2% cash back on all other Apple Pay purchases, and 1% back on all purchases that don’t fit into those bonus categories. Considering Apple has reported that over 70% of U.S. retailers accept Apple Pay, you should have plenty of chances to earn bonus cash back.

Security features: To use your Apple Card for a purchase, you must authorize the transaction using your iPhone, making it more difficult for anyone to use your card for fraudulent transactions. You’ll also receive instant notifications of every purchase.

Interest charge calculations on each payment: When you make a payment, you’ll see an estimate of how much interest you’ll owe based on your payment amount. For those who are unfamiliar with credit card interest, this could make it easier to understand how much money carrying a balance costs over time.

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Detailed transaction information: Apple color codes your transactions based on the type of purchase. It uses these color codes in spending summaries so you can keep track of where your money is going. Each transaction also includes its location on a map, so you can verify where a charge occurred.

0% APR on Apple products: With Apple Card Monthly Installments, you can get zero interest financing on many Apple products, including iPhones, iPads, and Mac computers. The length of the 0% APR offer will depend on the product, with most products offering between six and 24 months. Although it’s better to pay for products like these in full, the Apple Card at least gives you a convenient financing option when you need it.

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