Why You Need an Apple Card in 2023

it's been three years since Apple launched what might have been one of their weirdest products to date no I'm not talking about an iPhone nor am I talking about an Apple Watch or a Mac or even that iPad with all the weird adapters now I am talking about this the Apple credit card and I have been using the Apple credit card for the past three years and it has quickly become my favorite credit card that I own not only because of its ease of use but also the elimination of almost everything you can think of and an excellent reward system and to make it even more apple-like the robust amount of updates that this card has received since I applied for it way back in 2019. so in this video I want to tell you my experience of using the Apple card after three years things I like about it things that I might change about it how much daily cash I've earned in total since using this card in three years and why I think you should apply for one right now so first let's talk about the rewards this is probably the main reason why I continue to use my Apple card as my main credit card and that is because of the reward system it doesn't matter how easy this card was to use or how cool the physical card is if the reward system wasn't good I wouldn't use it thankfully I found the reward system overall to be one of the best out of any of my credit cards and that is including ones I pay a yearly membership for now to get the most out of this credit card uh you kind of don't want to use this you don't want to use that physical card and what I mean by that is for the best rewards on the Apple card you need to be using Apple pay which when you apply for this card it will defaultly set up on your iPhone as an Apple pay method this is because when you use Apple pay with the Apple credit card it gives you two percent cash back anywhere when you use Apple pay whether that's in the store at a payment terminal or for online purchases now I wouldn't say I'm a credit card expert I have a fair bit of cards but this two percent cash back on every purchase made using Apple pay is the most straightforward reward system that I have on any card and it beats out other simple cash back cards that I have like my Capital One Quicksilver card which has an easy to understand cashback system where you get 1.5 percent back on every purchase but that's just 1.5 not two percent now there is another card called the city double cash Rewards Card which does give you two percent cash back but there's kind of a catch there you get one percent cash back at the time of purchase and then another one percent cash back once you pay off your credit card statement again provided you use apple pay the Apple card is the best out of these three credit cards because it not only gives you that coveted two percent cash back on everything but it also doesn't hold it behind any bars in fact the Apple card is also the quickest at actually letting you use those rewards with a system called daily cash which basically gives you the rewards as cash on a separate Apple debit card as soon as the transaction clears so you could literally earn cash back in about a day or two while the other credit cards will have you waiting until next month for the full credit card statement and in the case of like the city card another month after that for your full reward once your payment clears so since I've owned this apple card in 2019 the prospect of two percent back on Apple pay purchases may not have seemed like a great deal and that's because in the before times it wasn't a guarantee that you would see Apple pay accepted at every single store that you visited and not even a lot of major retailers had tap to pay or an Apple pay system at least in the US however hey the world changed in 2020 and one of the benefits of going through that awful time period is that stores in the United States quickly revamped their payment systems to support tap to pay and as a consequence Apple pay which means I can maximize my two percent cash back when using this card now I focus so much on two percent cash back because this is the most common scenario where you'll be able to maximize your earnings in your daily life but that isn't the highest reward you can get from the Apple card of course since the beginning the Apple card gave you three percent cash back on all Apple store purchases in fact because I run a tech Channel and buy and review a lot of Apple products this is where I have earned the bulk of my daily cash rewards which we'll talk about in just a second naturally if you're applying for an Apple credit card you own an iPhone and you probably buy a fair bit from the Apple store or from Apple services like the iTunes Store or other services like apple music Apple TV iCloud or apple arcade or anything that really Apple sells so you get that three percent reward if you use your Apple card for all of those service services and also in addition to their store and since 2019 Apple has even added more Merchants to this list that net you that higher three percent reward that includes stores like Ace T-Mobile Nike Panera Bread Walgreens gas stations like Exxon and mobile and services like uber and ubereats in fact when I look at my recent three percent cashback activity I've seen a lot of those benefits from using services like uber and ubereats now while this expansion into other three percent rewards Partners has been good I do wish the list was a little bigger it would be nice if there were more stores on here that accommodated for a larger spectrum of General spending clothing stores and grocery stores being a pretty big exception where you might find some occasional higher limited time rewards from other credit card companies alright so how about me how much have I earned in Daily cash since opening my card in August of 2019. well in total you can see I've received around 3 438.20 since opening my car card now that is not a small lump of change and that's probably paid for most of my iPhone since opening this card now to be fair I'm an apple reviewer so if you look at where the bulk of my money is earned it's in that three percent category and that three percent category is largely made up of Apple purchases for the past three years I really hope that wasn't on ubereats because that means I've been eating way too much now my main issue with the Apple card is the card itself Apple ships you this really cool titanium card that feels and looks impressive and you'll without a doubt want to use this card everywhere however you never should and that's because it only has one percent cashback when you use the physical card there are some exceptions like if you use this in an Apple Store apparently you still get the three percent cash back but everywhere else it's it's just one percent now listen I get why Apple simply tied the two percent rewards using Apple pay as a way to speed up Apple pay adoption and this combination with other external factors I guess the ploy actually worked like Apple pay adoption in the US has definitely sped up however the US believe it or not still does things a little weird with credit cards and that is like at restaurants where your server physically takes your credit card with them to the payment terminal rather than bringing the payment terminal to you I've noticed a lot of these restaurants actually are equipped with terminals that do accept Apple pay but there's no way I'm handing my phone over to a server to use Apple pay with so your only option is to use your Apple card and then you only get one percent cash back and if you're like me and have multiple credit cards you're never using the Apple card for date night like I like the reward system for that isn't good enough so while I wish Apple would let the reward system on the card be two percent cash back as well um I understand why they didn't do it but I'm kind of hoping like in the future maybe they'll like roll out and an update I guess they wouldn't have to roll an update whatever maybe they'll let this card get two percent cash back in like certain scenarios like if you're using this at a restaurant let the card give you the two percent cash back because I just feel like our system is not going to change and you know sometimes you know I feel like apple definitely wants you to keep using the card they're definitely making money on the purchase so if they can get some of those restaurant purchases I think that would work out for everyone but for now they're not doing that and it's such a bummer because the titanium card it's just so cool now there's other things to like about the Apple card I think it really does a good job of making sure you understand the payment process in the simplest terms I can't tell you how many people have commented on my past Apple card videos who previously owned other credit cards thinking that if you use a credit card you automatically have to pay like the APR percentage like like you're always going to be charged interest and that is just not true and apple does a good job illustrating this in their user interface if you make your payments on time and you pay the full amount on your credit card statement you will never ever be charged with any sort of fee I have never paid any interest or any other fees on my Apple card it has literally cost me zero dollars to use this card even though I've racked up over 3 438 dollars of daily cash points that's another bad thing about the Apple card though is the interest rates I I do find them high compared to my other credit cards again I've never paid the interest rates but if I look at the percentage it is kind of high so my biggest advice to you is if you apply for this card don't be dumb spend only the money you can afford to spend and pay off your credit card in full every month and then it's like they're paying you to use the card rather than you paying them and if you do that you're golden like I said before Apple doesn't charge any other fees on this card there's no annual fee no foreign transaction fees and even if you missed the payment they don't charge you a late fee the only fee you'll have to pay with the card is again if you don't pay the card in full every month and then you will have to pay the interest rate which again Apple shows you the exact interest rate you have to pay right up front when you make this payment it's actually one of the best credit cards to have as your first card because it makes you understand the entire process in a way that every other credit card company goes out of their way to hide this information and apple just puts it all up for you there in the simplest terms and there's a lot of updates to this card as well since owning it since 2019 robust updates that make it feel more like a complete card now that Apple lets you pay for Apple products over time with zero percent interest installments and by letting users pay and manage their credit card online through a web browser rather other than tying everything to your iPhone I also have had my credit limit raised a few times since owning this card and while the overall limit started out pretty conservatively I will say that my current limit is very competitive with other cards that I own there's also been a few scenarios With Disaster Relief payments where Apple let users delay payments without any interest fees if they were in a natural disaster Zone and the addition of Apple Card family letting you share your Apple card with family members and also letting them build their own credit history Apple even recently announced that eventually Apple card users will be able to directly deposit their daily cash into a high yield saving account operated by Goldman Sachs now these updates to reward categories and features has made the Apple card kind of feel alive like I'm excited to see when a new update comes out for it and I really can't say that about any other credit card that I've owned and that in a strange way truly feels like its own Apple product and that is something I love about the card so to put it simply the Apple card may have had a rocky start with a bunch of critics but over time I think that this card has proved them wrong and three years later I think this is one of the best credit cards that I own so if you buy Apple products or honestly if you're just a frequent Apple pay user I think you should apply for the Apple credit card in 2022 or 2023 if you're watching this a month later alright everyone but that has been my experience so far with the Apple card please let me know in the comments below do you plan on applying for an apple card or do you already own one and if you do how have you been enjoying the experience so far I know this isn't my typical video but if you like Apple products consider subscribing to the channel and of course if you like this video hit that like button and maybe I'll catch you in the next video take care everyone

Channel: GregsGadgets

Views: 318,515

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Id: 0Vd_voLI24E

Length: 11min 25sec (685 seconds)

Published: Wed Nov 23 2022