The Apple Card: A New Signup Bonus That's a Game Changer!
Hey friends, what's up? Phillip here with Points of Phillip, and I'm diving into some exciting news about the Apple Card – specifically, a massive new signup bonus that's worth paying attention to!
Now, I normally don't recommend using Credit Karma for credit card applications, but this particular targeted offer might just be the exception that proves the rule. Let's break down why the Apple Card is making headlines again.
Historically, the Apple Card hasn't been known for its generous signup bonuses. The standard offer usually sits around $75 cashback after spending $75 within the first 30 days of approval. Decent, but nothing to write home about.
However, there's a much, much better bonus circulating, if you're targeted through Credit Karma. This offer provides a whopping $250 cashback after you spend $2500 in your first 90 days. While the spending requirement is significantly higher than the standard offer, $250 puts the Apple Card in the league of many other no-annual-fee cashback cards, making it quite exciting!
How to get this enhanced bonus:
Open the Credit Karma app on your phone.
Look for the Apple Card offer – it should display the $250 bonus if you're targeted.
Apply directly through Credit Karma. This ensures they get the referral, and more importantly, you get that sweet $250!
Why People Like (and Dislike) the Apple Card
If you've been living under a rock, the Apple Card is known for a few things:
Sleek Design: It's one of the prettiest metal cards out there, even rivaling some premium options.
Apple Ecosystem Integration: To get the most out of it, you really need to be an iPhone user and leverage Apple Pay.
Cashback Structure:
1% cashback on all purchases made with the physical card.
2% cashback on all purchases made using Apple Pay. This makes it a strong contender for a "catch-all" card if you frequently use Apple Pay.
3% cashback on all Apple purchases (Apple Store, App Store, subscriptions, etc.). You can even get 0% interest financing on large Apple Store purchases!
3% cashback at select merchants when using Apple Pay: Ace Hardware, T-Mobile, Nike, Uber, Uber Eats, Walgreens, Exxon, and Mobile.
Beyond the Rewards:
The Apple Card, managed through your iPhone's Wallet app, also offers some unique features:
Interest Transparency: A visual "scroll wheel" helps you understand how much interest you'll pay if you don't pay your full statement balance, encouraging better financial habits.
No Late Fees: While you'll still accrue interest, there are no punitive late fees.
Consistent Statement Dates: Statements close on the last day of the month, which some users find convenient.
Potential Downsides:
The main drawback is its reliance on the Apple ecosystem. If you prefer using a physical card over Apple Pay or don't own an Apple device, you won't get the maximum value.
The Goldman Sachs/Chase Rumor: What Could It Mean?
The elephant in the room is that Goldman Sachs, the current underwriter for the Apple Card, is reportedly looking to exit the partnership, with Chase being the leading rumored suitor. While nothing is confirmed, this could open up interesting possibilities:
Ultimate Rewards? While unlikely for a card like this, imagine earning Chase Ultimate Rewards points on your Apple Card!
Credit Limit Transfers: Potentially, you might be able to transfer the credit limit to other Chase cards, increasing your overall credit availability within the Chase ecosystem.
How Does It Compare to Other "Catch-All" Cards?
If you're looking for a good 2% cashback card, the Apple Card (with Apple Pay) has competition:
Fidelity Rewards Visa Signature: Offers 2% cashback into a Fidelity brokerage account, no foreign transaction fees, and a TSA Pre-Check/Global Entry credit every four years.
Chase Freedom Unlimited: Earns 1.5x Chase Ultimate Rewards points on most purchases. This card shines when paired with a Chase Sapphire Preferred or Reserve, allowing point transfers to travel partners like Hyatt or United. However, it does have foreign transaction fees.
Citi Double Cash: A classic 2% cashback card (1% at purchase, 1% upon payment), with no annual fee. It subtly encourages good payment habits.
Unlock More with Apple Savings
One of the coolest features of the Apple Card is access to the Apple Savings account. This high-yield savings account allows you to automatically deposit your Daily Cash rewards directly, earning interest on your cashback (currently around 3.5%). While it doesn't support Zelle, transfers to external banks (like Chase checking) are surprisingly fast, usually taking just one business day. This makes it a great way to let your rewards grow without tying up your money long-term like a CD.
Is the Apple Card Right for You?
With this substantial $250 signup bonus, the Apple Card becomes a much more compelling option, especially if you:
Are already embedded in the Apple ecosystem.
Frequently use Apple Pay.
Are planning a significant Apple purchase (like a new iPhone or AirPods).
Are looking for a solid 2% cashback card with an integrated high-yield savings option.
This targeted bonus makes the Apple Card a solid contender for anyone who doesn't already have it. Let me know in the comments below what you think of this offer!
Catch you next time, and have a great day!