How the Apple card compares to the competition
At its core, the Apple Card is a cash back credit card. The $ 0 annual fee card offers the following rewards:
Via Apple Pay: 3% discount on all purchases made directly from Apple (including Apple stores, the App Store and for other Apple services); 3% at selected merchants and via selected applications; and 2% cashback on all other purchases made through Apple Pay.
Via the physical card: 1% discount on all purchases.
There is no massive sign-up bonus or introductory 0% APR offer, but the 2% Apple Card cash back rate on most purchases is equal to what you’ll find. on some of the best flat rate cards available – assuming you can use Apple Pay liberally. Here’s how the card stacks up against some of these better options.
Citi® Double Cash Card – 18-month BT offer
Awards: 2% cash back on all expenses: 1% when you make the purchase and an additional 1% when you pay your bill.
APR: 0% introductory APR on balance transfers for 18 months, then the ongoing APR of 13.99% to 23.99% Variable APR.
Comparison with Apple Card: When it comes to lump sum reimbursement cards, the Citi® Double Cash Card – 18-month BT offer remains the pound for pound champion. Use it anywhere and get the same high reward rate on everything – no Apple Pay point of sale required. In addition, you will get an introductory APR promotion. There is, however, a minimum required redemption of $ 25. The Apple card does not have this minimum.
Signature Alliant Cashback Visa® credit card
Awards: 2.5% cash back on everything up to $ 10,000 in qualifying purchases per bill cycle.
APR: The current APR is 12.24% – 12.24% Variable APR.
Comparison with Apple Card: On the one hand, the Signature Alliant Cashback Visa® credit card offers an unbeatable reward rate for cards in its class, surpassing not only the Apple Card, but most other flat rate reward cards on the market as well. However, you need to join the Alliant Credit Union to get it, and you’ll also need to spend enough each year – around $ 4,000 the second year and beyond – to make the annual fee worth it.
Capital One Venture Rewards Credit Card
Awards: 2 miles back on every purchase.
Registration bonus: Earn 100,000 bonus miles when you spend $ 20,000 on purchases in the first 12 months after account opening, or still earn 50,000 miles if you spend $ 3,000 on purchases in the first 3 months
APR: The current APR is 17.24% to 24.49% variable APR.
Comparison with Apple Card: On the positive side, the Capital One Venture Rewards Credit Card earns a hefty flat rate on every purchase – no use of Apple Pay is necessary – not to mention a big signup bonus. On the negative side, you’ll have to pay to carry the card, and if you don’t travel a lot, a refund card like the Apple Card will be a more flexible option.
Chase Freedom Flex℠
Awards: 5% cash back on up to $ 1,500 of combined quarterly spending in bonus categories that change every three months (activation required); 5% on travel purchased through Chase; 3% on restaurant meals and pharmacy purchases; and 1% on all other purchases.
Registration bonus: Earn $ 200 bonus after spending $ 500 on purchases in the first 3 months after opening the account. And earn 5% cash back on grocery store purchases (excluding Target® or Walmart® purchases) up to $ 12,000 spent in the first year.
APR:Introductory APR of 0% on purchases for 15 months, then ongoing APR from 14.99% to 23.74% variable APR.
Comparison with Apple Card: If you don’t mind keeping track of the rotating bonus categories and a few permanent bonus categories, the Chase Freedom Flex℠ can potentially be more lucrative than the Apple Card and, again, doesn’t require you to use Apple Pay to earn bonus rates. But a card like this requires more maintenance than a typical flat-rate refund card, and unlike the Apple card, you’ll face quarterly spending caps.
Barclaycard Visa® Financing
Comparison with Apple Card: Formerly known as Barclaycard Visa with Apple Rewards (before the introduction of the Apple Card), the Barclaycard Visa® Financing no longer earns rewards. And since September 2020, it no longer accepts applications. But existing cardholders can still use it, and it still features deferred interest offers on Apple purchases, which could help you pay off a significant Apple expense over time. Apart from that, the Barclaycard Visa® Financing does not offer much else.
PayPal Cashback Mastercard®
Awards: 2% cash back on all purchases.
Comparison with Apple Card: the PayPal Cashback Mastercard® earns 2% on everything, whether you use Apple Pay, PayPal, or a good old-fashioned sweep to purchase. You must redeem your rewards on a PayPal account, but the setup is free and you can transfer your earnings at no additional cost from PayPal directly to your bank account. As with the Apple Card, there is no sign-up bonus, nor an introductory APR period.
Other potential alternatives
Visa Infinite® Reserve US Bank Altitude ™ card
5 points per dollar spent on prepaid hotels and car rentals booked directly in the Altitude Rewards Center.
3 points per dollar spent on qualifying travel purchases.
3 points per dollar spent on mobile wallet purchases.
1 point per dollar spent on all other purchases.
Comparison with Apple Card: Given the annual premium fee that you will have to pay to hold the Visa Infinite® Reserve US Bank Altitude ™ card, this is not an apples to apples comparison. But you’ll get an annual travel credit of $ 325 – which dramatically reduces the actual annual fee – not to mention a big signup bonus: Earn a sign up bonus of 50,000 points worth $ 750 on travel. All you need to do is spend $ 4,500 in the first 90 days after opening the account. And you will earn more than Apple Card in the category of mobile wallet purchases. Points are worth 50% more when redeemed for travel through US Bank, meaning your effective reward rate on mobile purchases can reach 4.5%.
Visa Signature® Fidelity® Rewards card
Awards: 2% cash back on all purchases.
Comparison with Apple Card: the Visa Signature® Fidelity® Rewards card earn 2% cash back on everything you buy, including non-Apple Pay purchases. There are several redemption options, but if you want to get the highest value for your rewards, you must deposit them into a qualifying Fidelity account, such as a brokerage account, retirement account, savings plan – 529 studies or an HSA.