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Apple's New Credit Card-Pros and Cons

Apple is now offering its first ever credit card. This credit card will be partnered with Goldman Sachs (Issuing Bank) and Mastercard 's network.

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At A Glance

When reviewing the Apple Credit Card we find that it offers great rewards and also is consumer friendly. With daily cash back and no fees, other credit card companies now may have to adjust to the competition.


  • Fast Application Process: Currently Apple is using your TransUnion Credit score when processing your application. Once your application is processed you can start using your card right away with Apple Pay on any iPhone 6 or later.

  • No Fees: No annual fee, late fee, or international fee.

  • Daily Cash back rewards: 3% Cash back on anything you by from Apple that includes The Apple Store,, iTunes, and the App Store. 2% Cash back using Apple pay on any purchase. 1% Cash back on every other purchase.

  • Card Payment Method: Two forms of pay can be used. You can use the digital form Apple Wallet or the tangible titanium card for places that do not have Apple pay.

  • Security Features: Numberless card that only shows your name.

  • App Function: The card syncs to iPhone's standard functions like Apple Maps and Apple Wallet.


  • Credit Reporting: Apple has confirmed that currently they do not report to the credit bureaus. For any consumer looking to establish credit, this card currently will not help.

  • Interest: 12.74%-23.74% variable APR on purchase and balances. Also Apple states no late fees, but does state "Additional Interest" on late payments. This could be similar to penalty interest or a penalty fee.

  • Functionality: Requires Apple hardware and Apple Pay in order to experience all features.

Our Thoughts

The Apple credit card has excellent cash rewards when compared to other credit card companies. With no fees and daily cash back, this will draw a lot of consumers. Also the consumer-friendly app that is offered, helps the consumer understand credit card debt and interest. This card is an excellent everyday credit card for the consumer who likes convenience, no fees and simple rewards.


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