If you almost always use Apple Pay, this card could essentially act like a flat-rate cash-back card. The Apple Card earns Daily Cash, which is available to use through the Wallet app on purchases, as a statement credit to pay off your bill or through Messages to pay back friends and family. However, there are certainly other card options out there if you’re looking for a rewarding everyday spending credit card. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This post contains references to products from one or more of our advertisers. "See Your Apple Card Spending History." While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. Related reading: The best starter travel credit cards of 2020. Disclaimer: The responses below are not provided or commissioned by the bank advertiser. This site does not include all credit card companies or all available credit card offers. For example, thereâs no promotional purchase APR, which other cash-back cards often offer. Just like an Apple Card financing plan, a Citizens One Apple loan comes with no added interest, and the price is always split over 24 equal monthly installments. With limited perks and no sign-up bonus, there are certainly better rewards cards out there. We publish unbiased reviews; our opinions are our own and are not influenced by payments we receive from our advertising partners. The monthly installments are similar to the promos offered with the Barclaycard Financing Visa, though where those are related to price, the Apple Card financing is based on product line. Another consideration is that a large rewards opportunity with the card centers around using Apple Pay, and merchants that accept Apple Pay are much more common in urban areas than rural towns. "Buy 13-Inch Macbook Air." Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees. Dining, groceries and online shopping are all common spending categories (especially right now), none of which are rewarded broadly with this card. If you have multiple devices: Devices with current installments due are listed at the top of the page, with the most recently Apple CEO Tim Cook first announced that Apple Card Monthly installments were coming during its April 30 earnings call. The Apple Card does not offer a free credit score, unlike most of its main competitors. If youâre among the Apple faithful, itâs worth taking a look at the Apple Card. See the Apple Card Customer Agreement for more information. The Apple Card launched in 2019 as Apple’s first foray into the rewards credit card space. Variable APRs for Apple Card other than Apple Card Monthly Installments range from 10.99% to 21.99% based on creditworthiness. Help. How does this compare to Apple's own iPhone Upgrade Program? I got the Apple Card when it first came out, and I really enjoy the user experience, instant cash back, no fees and that metal cling. Apple's security and privacy policies are also top notch compared to other financial institutions. However, if you don’t shop at a ton of places where Apple Pay is accepted and don’t shop with the specific merchants that earn 3%, this card’s earning structure is going to be pretty much worthless to you. While it was met with enthusiasm from Apple fans, it doesn’t quite live up to expectations. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered. "Apple Pay." On a positive note, you can ask for help and receive support via text, though itâs unclear if this service is available 24/7. You can use Apple Card to buy more than one iPhone, although the number of iPhones you can buy will be limited by your available credit. © 2020 THE POINTS GUY, LLC. Keep in mind that if you buy Apple products through another retailer, even one authorized to sell Apple products, the 3% rate doesnât apply, and neither does the monthly installment plan. VPN Deals: Lifetime license for $16, monthly plans at $1 & more The iPhone Payments plan is different from the iPhone Upgrade program in two major ways: you're not trading in your iPhone to upgrade next year, and AppleCare+ isn't included. Apple Card Monthly installment refund? Considering how frustrating it can be to try and contact customer support via phone or even secure message for many issuers, this is a nice perk. Accessed May 12, 2020. Users without an Apple Cash account can redeem Daily Cash as a statement credit. You accrue and can use your Daily Cash within a day of the transaction clearing, so you can use rewards more quickly than you can with other cash-back credit cards. View our latest valuations here. The interest rate on the Apple Card Monthly Installments plan is 0%. The receipt said refunded to original payment method and I immediately got the refund for the tax amount and the installment status says complete now. The credit card offers unlimited cash back on purchases. Digging into the actual card offer, it’s definitely a card geared toward beginners. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges. You can learn more about the standards we follow in producing accurate, unbiased content in our. Apple Card has very few fees, partially because it doesnât offer things like cash advances or balance transfers. Featured image by Wyatt Smith/The Points Guy. Card Monthly Installments. Late or missed payments donât carry a fee but will result in additional interest accruing on your balance. For an explanation of our Advertising Policy, visit this page. Apple Card Monthly Installments make it easy to pay for a new iPhone, iPad, Mac, or other eligible Apple product, with interest-free, low monthly payments. Earning The rewards structure mostly includes specific merchants rather than broader categories, and those merchants are more commonly found in cities. Before Apple Card, the retailer partnered with Citizens One bank to offer a similar financing plan for those who need to pay off their iPhones over time. That said, with Apple Card Monthly Installments, you will get up to 24 months to pay off Apple products purchased from Apple interest-freeâwhile sill earning 3% cash back. We may receive compensation when you click on links to those products. 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