I’ve had Apple Card for some time now and wanted to do a quick overview from student perspective and whether the card is worth it for a student to have or even whether it is worth getting it as your first credit card. Apple Card definetely stands out from the rest because I would have never thought a huge tech company like Apple would ever consider to enter a credit card business, but here they are, so let’s look into it.

What is Apple Card?

Back in march of 2019, Apple announced Apple Card at one of its major events of the year. Apple for the first time enters the credit card industry and Apple card is the first that’s tightly integrated into the Wallet app on iPhone and offers exclusive cash-back benefits for Apple-related purchases.  If you ever paid for something with your wallet app you have on your iPhone or you find yourself paying with Apple Pay rather frequently, you will find this card very beneficial in terms of convenience of not carrying your wallet and rewards.

What Are Apple Card Benefits?

This is where the Apple Card both shines and lags at the same time. The Apple card shines in many categories especially if you tend to buy Apple products rather frequently. Apple Card offers 3% cash back on purchases from Apple store or anything related to apple like iTunes, App Store, Apple Subscriptions, etc… Apple Card also offers 2% cash back on all other purchases made with Apple Pay, and 1% on all other purchases made with its physical card you can opt in to receive for which I need another section to talk about below.

It also strives in few other areas that make this card more unique which are no fees, daily cash, very easy application process, great spending managment tool, and innovative security features. The cashback is unlimited and you receive cash back on “daily” basis, yes on daily basis! No more waiting until end of the month to receive your cash back.

The application process is very simple and done straight from your wallet app. Another unique feature is shining at is the spending managment tool where the card in your wallet will change colors based on what you are spending the money at as well as exact address and name of the business you used it at. Don’t forget to sign-up for Acorns and get free money

Some other benefits include:

  • No annual fee (interest will still accrue)
  • No Late Panalty
  • Goldman Sachs is the issuing bank for Apple Credit Card which is a very trusted name in this industry
  • $0 on returned payments
  • Titanium Physical Card

The Not So Good About Apple Card

The Apple card slacks in few areas which are: High APR, 2% cashback only applies when you use Apple pay, and no sign-up bonus.

Many people with excellent credit history and high score are approved with 20%+ APR rate which has gotten a lot of attention on many forums and other critics. I received an APR of 14.99% with few hard pulls I had this year, meanwhile others without any pulls or late payments in years and higher credit score received way higher APR including 23.99% (highest). Not sure how the APR is calculated at this point, but this is something that we don’t really have the insight to. So, beaware before you apply. Need to raise your credit score? See my post on best ways & Tips and Tricks for building credit as a student

If the city you live in or places you visit don’t have Apple Pay, then you are stuck with 1% cash back only which makes this card not worth it at all when comparing to other cards like Capital One Quicksilver or Discover Card. I had a hard time deciding whether I can really make a use out of this, but after examining my areas and the fact that my university accepts Apple Pay nearly everywhere on campus I decided that it is worth it, as well purchases and subscriptions I have with Apple.

There is no sign-up bonus or at least there is no sign-up bonus as of right now. Credit cards are worth applying for the most part if 1 You will benefit from using it for what it’s for and 2 it has a great sign-up bonus. These two simple and important rules should always factor in for you when you decide to apply for a credit card. Sadly, there is no sign-up bonus for the apple card which really doesn’t make much sense for such a card that gained a lot of attention.

You can find reviews of credit cards I applied to and find that I took advantage of only the great sign-up offers for every card I applied for including: American Express Delta Card with 60k miles bonus and $200 statement credit. Capital One QuickSilver with $150 bonus after spending $500, and Discover Card that offers 5% on different categories every quarter.

Titanium Physical Card

When you apply and approved you have an option to get not just the digital form but also the physical card. This is where it shines but SHOULD NOT be the reason you want to get this card. The Apple Card comes in a titanium form which makes the card much heavier, thicker, and stand out from all the other cards.

Apple physical card also comes with unique security features. The titanium card only has your name in front and a strip on the back. That’s it. There’s no card number or card verification code. This makes it a very unique way to stand out from other credit cards especially if you start a tab at the bar and there’s not information for somebody to steal. (You can still find the numbers, they can be found in your digital wallet)

Who is it Really For?

Apple Card offers some get perks for people that are looking for an everyday credit card with simple rewards system where Apple pay is available. On top of having no annual fees or any foreign transactions, you get 2% cash back on all purchases made with Apple Pay, and 1% on purchases using the titanium physical card.

Apple card gives a great opportunity for the future as well and I’m sure there are going to be many more offers throughout the year by getting more cashback with purchases made with different businesses like 3% Uber and Uber Eats cashback it started offering.

This card is a great option for iPhone users who place high priority on security and convenience, but if you are looking to maximize the rewards, then there are better options out there.

Bottom Line

I don’t regret applying for the Apple card and find myself using it on daily basis around my university and when shopping around. It also saves me money on my apple subscriptions and some app store purchases I make.

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