Credit card lowdown: Should you apply for the Apple Card?
- It’s very easy to apply
- Built-in budgeting tools make it easy to stay on top of your spending
- No fees
The Apple Card is where tech meets finance. Backed by Goldman & Sachs, it is the perfect spending tool that also aims to help you keep your spending under control. In the product announcement at the March 2019 keynote, Tim Cook expressed how the Apple card is meant to have key features to help users avoid paying fees, interest, and offer daily cashback! A company that doesn’t want you to pay interest, how bizarre is that? Those are just a few advantages of this new product from the tech giant. Keep reading for the full rundown on what makes the Apple Card different from the rest and why it’s worth having in your wallet or phone.
The component that really sets the Apple Card apart from other credit cards is its integration with your Apple iPhone. The interface is very informative and easy to use. In the wallet app, you have access to your Apple Card and are able to use it anywhere Apple Pay is accepted. You can also see very detailed information about your transaction–as detailed as a map pinpointing the specific business address in which a purchase was made.
They’ve also made paying the bill super easy! Although I’m sure that isn’t surprising. Usually, paying the bill is always the easiest function of having a credit card. Still, Apple still does a great job of executing this and adding an extra perk. If you’re undecided on just how much you want to pay, there is a slider that shows you exactly how much interest you will pay depending on how much of a payment that you make, showing how much paying only the minimum balance can hurt you financially over time.
Privacy and security are major objectives of Apple. They’re constantly exploring how to keep your devices safe from hacking, phishing, and other cyber vulnerabilities. The Apple Card is no different. Of course, using the digital card Apple Wallet will require that you authorize the purchase with Face ID, Touch ID, iPhone PIN, or your Apple iCloud password. However, you may wonder what safeguards are in place when you use the physical titanium card? Well, no need to worry. Even the card has implemented security features. If someone was to take your Apple Card, they wouldn’t be able to use it. The card will disable when it is not used within the vicinity of the phone. That would be pretty darn convenient if you have kids or a significant other that likes to use your card instead of their own, wouldn’t you agree?
Of course, the Apple Card is optimized for use through the Apple Wallet. However, that titanium card is pretty awesome too. It is much sleeker than the boring plastic cards most companies send out. Also, having the Apple Card also has the benefit of daily cashback. That’s right, daily. No more waiting until you accrue a specified amount of money or after a certain amount of time to get your money. You will receive cashback on the purchases made each day by the end of the day. The best perk, though is that the Apple Card has no fees. No late fees, annual fees, hidden fees, or any of the other fees that you might experience with a different card.
How do I get one?
Applying for an Apple Card is very easy. Like, very, very easy. As the advertisements say, you can “apply and use in minutes.” To apply, you simply open the wallet app on your iPhone, tap the add (+) button in the upper right-hand corner, select Apple Card, select continue and then follow the steps from there. No need to worry about typing in all of your personal information. Apple has you covered. Since you’re signed in to your iCloud account, it auto-fills the majority of the information from that making the application process even easier!
Now that you’ve gotten the full rundown on the Apple Card, are you going to get one? It’s a great card for people that are into technology in all aspects of their lives. However, what makes it really great is that everyone can find benefits of using it from the daily cashback to the wallet interface that keeps you informed about your spending.
A deeper dive — Related reading from the 101:
- Can’t get a credit card? Try these alternative options | Finance 101
Daily alternatives for individuals that are having problems getting approved for a credit card
The best credit card to get if you’re all about cashback rewards