Why You NEED An Apple Card Right Now! (2023, UPDATED)

I can't believe I'm making another video about the Apple card but after using it for the past four years much like any other Apple product that I've owned this credit card has gotten better through countless updates which make it in my opinion one of the best card options on the market right now with a lot of great new features and a feature you may not be able to afford to miss and I even have some updates on how Apple has helped me with a recent mishap with fraud protection that might actually be pretty useful to you for anyone signing up for this card and it's actually a feature that I didn't think I would need that turned out to be super useful all right so in 2023 there are a few key reasons why I think you need an apple card right now and I think it's one of the best cards especially for first time credit card owners and those key areas include software experience rewards a new high yield savings account and of course security Now like any good Apple product software is key and it's one of the most underrated features about the Apple card which is the most dead simple credit card that I've ever used all you need is an iPhone and after a few clicks in the wallet app you can find out if you're approved for the Apple card so the sign up process is so simple if you are you'll get a titanium card in the mail within the week and best of all you can start using the Apple card right away not only online but in stores as well as long as they accept Apple pay which at least in the US seems to be almost everywhere nowadays from small Merchants to coffee shops and even the trains in New York City they all have Apple pay terminals that are quick and easy to use and unlike other Banks as an iPhone user there's no need to download any other software there's no need to keep entering countless security codes every time you want to you know log into your bank all the interface is just right in the wallet app on your phone and it's so easy to get to so easy to see the interface is smooth and responsive too unlike a lot of other banking apps it loads fast like there's just no barriers to getting into this app and I know that like you're probably thinking like what's the big deal about that but if it's not a pain to actually look at your credit card statement and see how much you're spending that's actually really good for your spending habits because you get to keep track of them better so with the Apple you know card it's very easy too they have color categories for popular you know categories like shopping food Health travel and so on right and they're all different uh color coded and as you spend with the Apple card it even reflects on the card itself and it changes color depending on your spending habits you can kind of see like okay maybe I'm spending a little bit too much on food this this uh month you know that you know that's me I'm always spending too much money on food and uh you know Apple products probably but yeah I really like that and it may not sound like a huge deal but Apple car transparency on how you spend money does make it ideal I think for a first time credit card and that transparency is extended even more to how you pay your credit card so Apple displays a very easy to understand system for payments and accurately shows you how much you need to pay a month to avoid interest charges no other card really does it this simply or they definitely don't give you an interface that easy if you can't make the full payment Apple will show you exactly how much interest charges you'll rack up and it encourages you to pay more to avoid those higher interest fees I remember signing up for my first credit card and how confused I was about interest rates I didn't understand what APR was I didn't know how much the credit card company would charge me if I you know made a payment that wasn't the full statement balance not to mention the Apple card doesn't have any other fees so on other credit cards if you paid late you get a late fee there's no late fees with the Apple card and unlike a lot of other cards which just give you a random payment date that you'll you know forever have taking up a slot on your calendar appointment the Apple card is predictable because you pay at the end of every month it's the same payment date the payment just due at the end of the month it's dead simple of course all of these nice credit card features are utterly meaningless if the reward system is garbage and while Apple card doesn't have the total highest rewards out of any credit card I've seen on the market there are ones that offer better rewards like I have an Amazon store card that's five percent back on Amazon purchases that's pretty hard to beat but it does I think offer a very consistent and one of the highest base levels of cashback on every purchase provided you are using Apple pay yeah this is one of my Hang-Ups with the Apple card I mean they spent all this time designing a beautiful titanium credit card and it's so beautiful I want to use this thing for like every purchase I want to go into a restaurant I want to be you know throw my Apple card down table go I got it covered guys but because I can't use this for the two percent cash back reward I kind of don't use it really all that often unless I'm in a situation where it's like an emergency and it's like the only card I have on me which is probably never so because this has the weakest reward system only offering one percent cash back on your purchase with you know rare exceptions you can use this in the Apple Store still get three percent cash back if you want to flex with it but I don't know about you I don't spend every day shopping at the Apple Store okay I spend a lot of time there I spent a lot of time there but not every day but anyway if you want the highest rewards for most daily purchases you need to make sure you're using Apple pay on your phone which means you need to ditch the physical card Apple pay provides solid unlimited two percent cashback on every purchase made with Apple pay which itself is a pretty good reward category for a credit card without a membership fee on top of that you can get three percent cash back in some categories of course every transaction at the Apple Store the app store Apple music or any of other Apple Services qualify for this three percent cash back but Apple has also added other companies to this too so you can get three percent back at Walgreens Panera Bread Nike T-Mobile Uber ubereats Exxon Mobil and Ace Hardware for me I really like using this expanded three percent category because I use Uber and Uber Eats a lot so this has kind of like provided like an almost three percent discount when using those Services that's how I like to view it and that's actually like another highlight of the Apple card these rewards feel more like discounts than rewards because apple has a system called daily cash which instead of waiting for the end of the billing period to give you your rewards Apple gives it to you as soon as the transaction clears which usually means any card purchases you made in the last few days are deposited into a virtual Apple card for you to use as you choose you can either use these rewards instantly or deposit them directly into your bank or perhaps the best option now is to have those rewards deposited into one of the new features on the Apple card having them deposit it directly into a high yield savings account yes Apple has recently just added this feature to the Apple card where instead of directly depositing your money to sit there in a virtual card you can have it directly deposited into a bank account which earns an insanely high percentage of 4.15 percent completely free this apple high yield savings account isn't just for daily cash too it works as its own separate bank account that you can deposit your own money into and it comes with its own account and routing number it's basically just a high yield savings account tied to your Apple card but what that means is for you as the user you have access to a competitively High savings account that compounds your money daily so what does that mean well let's say you open an apple savings account with an initial one thousand dollar deposit and you add 500 every month to the account for the next 12 months well you have a balance of 7164.96 meaning you earned 164 dollars in rewards completely free the real power of compound savings though is the longer you keep it so let's extend that savings account to 10 years with the same 500 a month savings and that means you would have a deposit of like seventy five thousand five hundred and forty seven dollars thus earning you fourteen thousand five hundred and forty seven dollars in interest now let's say you're crazy and you keep the same habit with the 500 deposit for the next 30 Years well you would have a total balance of 355 755 totally doing that math my head not reading that anywhere definitely not with 174 755 of that coming from interest now I don't want to get into a whole argument about investing and where to put your money and what's going to be the best you know possible savings thing it's probably not this right but considering most people don't save and invest anyway and most people are scared to invest their money in an area where you could lose it like the stock market well this is a risk-free option I think it's an amazing feature that will help and encourage more people to save for the future and it's a free addition to the Apple card with no other fees attached to it if you have a bank account and you're just letting money sit there anyway why not put it into an account that's going to earn like a higher percentage and with no fees attached to it I really think this helps set up the Apple card apart from other credit cards which obviously only encourage you to spend rather than to save I plan on using this feature and I'd encourage you to look into it as well finally let's talk about security now I finally have some first-hand experience on this unfortunately Florida you're an awful place in all my years of life roaming the streets of New York Jersey City Newark never never have I had my credit card skimmed but within 48 Hours of Landing in Disney World I had all my credit cards stolen not physically but virtually and that includes my Apple card that I brought with me I brought the physical Apple card it got skimmed someone used some kind of skimming device it got skimmed and they started using like this card like the next day to purchase like a bunch of stuff from like uber it's messed up but what was cool is that Apple's fraud protection was amazing so not only did I get notifications instantly on my phone that someone was like using my card uh I was able to contact a representative directly through iMessage while on my vacation instead of going through like a lengthy call process and I was able to communicate with a Goldman Sachs agent on my own time and inform them my card had been compromised that cleared the problem up within like an hour uh and they you know refunded back uh every fraudulent transaction back to my account within the same day and within the same day I also got a new digital Apple card that I could start using immediately for purchases while on vacation consider that for a second even though my card had been stolen I was able to clear that incident up right away and I was back to using the same card I was using to make transactions in Disney if I had another credit card I don't know if the process would go that smoothly because they'd have to mail out a new card and I would not be able to add that card to Apple pay until I received the physical card that sort of Peace of Mind when it comes to security is really great and I even started using a new feature on the Apple card that periodically changes the security code so hopefully something like that doesn't happen again it's why I continue to use the Apple card the most out of all my credit cards despite having cards that do have high reward tiers it's why the Apple card is my most used credit card because its reward process is simple the software is easy to understand their customer service is great especially with that fraud prevention and with new benefits like the Apple high yield savings account I can Envision continuing to use this card for a very very long time and I think you should too alright let me know what you think of the Apple card in the comments Below have you applied for one are you using one are you enjoying it as much as I am or do you tend to use another credit card also I want to hear your thoughts on that new high yield savings account feature do you plan on using it to kind of save money and and earn like a higher percentage on it and if you aren't like what percentage does your bank currently offer because I think mine is like less than one percent so I think I'm just going to use this one also if you like this video maybe you know maybe maybe we're gonna earn a lot of money together because of this no promises okay definitely not but if you like this video give me like if you want to see more from the channel uh make sure you're subscribed and thank you so much for watching and I'll catch you in the next one

Channel: GregsGadgets

Views: 203,905

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Id: opM1ALPMIsU

Length: 12min 23sec (743 seconds)

Published: Thu May 04 2023