Our credit rating is decent and we probably have more credit cards than we need (despite keeping the balance very low amid worries about those crazy monthly interest rates) but do I want yet another? Do I need an Apple credit card?
The answer, of course is, “No, I don’t need an Apple branded credit card, but I want one anyway.” OK. Fair enough, right. But why? So many questions, so little time.
What does Apple’s credit card bring to the table that would make me sign up? Considering that very few of Apple’s customers have their branded Apple Card there is a remarkable amount of digital ink spilled already. Alexandria White has a list of the details including how Daily Cash works.
Daily Cash? Credit cards have had cash back programs for years, but Apple puts it back into your Card automatically– so you can see it each day.
Apple Card is more about financial wellness that dirt cheap interest rate.
While there are no fees, you can still rack up interest on this card if you don’t pay your bill in full. There is a 12.99% to 23.99% variable APR, based on your creditworthiness, which isn’t very different than competing cards on the market.
I checked. Some of our credit cards are lower, one is higher.
What is the financial wellness approach? Typical Apple. In your face easy.
The Apple Card provides a detailed snapshot of your spending history in real-time. Purchases are categorized by color, and you can track your spending weekly or monthly. You can also see where and when you make purchases alongside the transaction cost.
We have a credit card which does that, too, and via the bank’s app, but since we use more than one card we never get to see totals until the end of the month. Apple wants Apple Card to be liked more than others, so used more than others.
We also use Apple Watch to make purchases wherever available, so ease-of-use is an issue to be considered.
Apple uses advanced security measures to protect cardholders’ privacy. Every transaction you make with the digital Apple Card requires your device number and a one‑time, dynamic security code, which is authorized via Face ID or Touch ID.
So, why is Apple doing this? Why does Apple have a credit card?
It’s as simple as that. Apple has a billion plus customers who love their hardware and use the software and all of Apple’s Services and Wearables products are designed to take advantage of that growing customer base.
There’s money in numbers, folks. Apple has the numbers.