The Apple Card is a no-fee credit card that charges no annual fee, no late fee, no overdraft fee, and doesn't dare charge a foreign transaction fee. In addition, cardholders get up to 3% back on transactions and that money arrives every day, a feature known as Daily Cash. You get 3% back on all purchases at Apple or select retailers when you pay with the Apple Card and Apple Pay. Every time you use the Apple Card and Apple Pay, you get 2% back. For purchases that don't accept Apple Pay, you get 1% cash back.
Daily Cash can be transferred to an Apple Savings account every day, with no fees, minimum balance, or minimum deposit amount. To maximize the value of the Daily Cash feature, funds can be added from a linked bank account.
Apple Card holders receive the maximum daily cashback of 3% when they use the Apple Card through Apple Pay in select stores. | Image credit: Apple
So how did JD Power put the Apple Card ahead of the competition in these two categories over the past four years? Points were awarded for customer satisfaction ratings in categories such as account management, customer service and new account experience.
Apple varies the interest rate on purchases depending on the cardholder's creditworthiness. This rate can range from 19.24% to 29.49%. And you can quickly and easily apply for an Apple Card using the Wallet app on your iPhone. Just follow these steps:
- Open the Wallet app.
- Tap the “+” button at the top right.
- On the Add to Wallet page, tap Apply for Apple Card.