The 5 Best Perks That Come With The Apple Card

The Apple Card is a credit card that may not be an obvious choice for many consumers, including longtime Apple product customers, but it can be a smart idea when considering the various perks the card offers to customers. It's not just the cash back program that Apple designed for the Apple Card, but several other features built into the app, like the ease of signing up for and using the Apple Card, managing money and payments, the security features, the extended support for family members, and the perks associated with third-party services. But the main reason one should consider the Apple Card is the option to buy expensive Apple products in interest-free installments.

Using the Apple Card Monthly Installments payment option at checkout on Apple.com or on the Apple Store app allows buyers to purchase eligible Apple devices via monthly installments instead of paying the full price upfront. The list of products includes Apple's iPhone lineup, the Mac, and the iPad. Apple device users can also purchase Apple Watch and AirPods models via installments, as well as various accessories. The installments will be spread over specific periods for different products. For example, you'll get 24 installments for an iPhone, 12 for a Mac, and 6 for new AirPods.

All the installments will be visible inside the Apple Wallet app on the iPhone, where the Apple Card appears by default, making it easy to track your balance and to ensure you pay the minimum payment due each month. While you'll pay for Apple products over the designated period, the Daily Cash rewards for those purchases, which amount to 3% cash back for all Apple products, will be available immediately after the purchase is made.

Apple Card cash back is unlimited, and it's awarded every day the moment you make a purchase with the card via Apple Pay on an iPhone, Apple Watch, or the web. The money can be used on other purchases or saved via a high-yield savings account available through Apple Card. What's important to remember is that the Apple Card offers three Daily Cash tiers, depending on what products you shop for.

As seen above, purchases from Apple, including digital goods from the App Store, come with 3% cash back on Apple Card, but that's not the only place that offers cardholders the maximum cash back. As of this writing, Apple has partnered with 10 merchants which will also offer 3% Daily Cash on eligible purchases. The list includes Ace, Booking.com, ChargePoint, Exxon, Hertz, Mobile, Nike, Uber, Uber Eats, and Walgreens.

Purchases made elsewhere are rewarded with 2% Daily Cash, including physical retail stores and online merchants. The only requirement in this case is using Apple Pay in stores or at checkout online. Finally, the 1% Daily Cash tier applies to all purchases made with the titanium Apple Card in places where Mastercard is accepted but Apple Pay isn't. As a rule of thumb, you'll want to prioritize Apple Pay payments to make the most cash back from daily transactions, or switch to a different credit card when Apple Pay isn't available.

There's another Apple Card perk to have in mind when considering the credit card option: the fees associated with it. More precisely, the absence of fees. Apple charges no fees for the Apple Card. You don't have to pay annual fees for the card, nor are there late fees. That said, if you miss a payment, you'll need to pay more interest, as with most credit cards. The variable APR for the Apple Card starts at 17.49% and goes up to 27.74% depending on the user's credit, as of this writing. You can use the Apple Card when traveling without worrying about foreign transaction fees. The card will work everywhere Mastercard is accepted, including international markets.

Also, there are no fees for applying for an Apple Card. Apple says the application process is fast and will quickly determine whether you qualify for the credit card. The initial check will not impact your credit, but a credit check will follow if the application is approved and you accept the Apple Card offer, which can impact your score. Once approved, you'll be able to use the Apple Card immediately on your iPhone and Apple Watch, as you can add it to Apple Wallet without waiting for a physical card.

The physical credit card is optional, and you won't necessarily have to carry it in your physical wallet if you order it. The iPhone or Apple Watch are enough to use the card via Apple Pay at physical stores. As for retailers who don't support Apple Pay payments, you might be better off using a different physical card, because all payments that are made with the physical Apple Card will only get you 1% cash back.

Most credit cards come with banking apps that let you track your balance and spending, but with the Apple Card, you don't even have to worry about downloads and logins. All of your transactions will be visible directly in the Apple Wallet app. All purchases made with the Apple Card will appear in the app, and you'll be able to search for specific transactions. The Apple Card charges will not be available to third parties, including Apple. On that note, the digital Apple Card will feature a virtual card number that can be changed in the app. The virtual card number is different from the titanium card number and the Apple Pay card number.

Apple will also show you information about interest payments and the minimum monthly payments, which can help you ensure you don't miss any payments and incur additional interest charges. Apple Wallet will display suggestions and help you set up reminders to pay off the monthly balance in time. It'll also surface payment dates to ensure you're on top of payments instead of forgetting about handling an installment on time. Buyers who shop with the Apple Card Monthly Installments plan at Apple will also see details about their current payments and options to pay off a purchase early.

The smart money management system Apple developed for Apple Card also covers security features. The Apple Card will detect payments that look fraudulent and warn the user. Additionally, Apple Card users also have access to a few Mastercard perks, including protection against unauthorized purchases made with the card. Mastercard ID Theft Protection, which monitors for credit card theft, is also available to users upon registration. Finally, Mastercard offers travel-related perks, like free nights at certain hotels and Priceless Experiences and Priceless Golf when available.

Like other digital products available on iPhones, the Apple Card comes with support for the entire family, which may be another useful perk for certain Apple Card users. Family Sharing lets you add a partner, a trusted friend, or family members to your Apple Card. The card supports a Co-Owner feature, which can be helpful for managing the account and staying on top of purchases and improving credit. Children can be added as participants to the same account if they're 13 or older, and they can build their own credit and order their titanium card if they're over 18. The Apple Card supports up to six members when used with Family Sharing.

All users part of the same Apple Card account will enjoy the same overall perks mentioned above, including Daily Cash for their transactions and spending history. However, there will be a single monthly bill for the family account. Parents can also set limits for other participants, especially children.

Setting up Family Sharing on an Apple Card happens directly in the Apple Wallet app for iPhone or iPad. New members will need their own Apple devices to accept invitations and take advantage of the higher Daily Cash percentages for purchases. Apple Pay is available only on Apple products.

Some of the partner merchants we mentioned in the cash back section above offer more than 3% Daily Cash on purchases, which is another reason to consider using the Apple Card (via Apple Pay) for purchases with these companies. Hertz will offer free Emergency Roadside Service and a free additional driver for rental cars. It'll also offer at least 5% off Pay Later rates and let users add loss damage waiver vehicle protection for $16.95 per day.

Booking will award an additional 2% in Travel Credits on eligible stays and car rentals made via Booking.com in addition to the 3% Daily Cash reward. Uber will offer an extended six-month free trial for Uber One, which costs $9.99 per month. Other Uber perks include a $0 delivery fee on eligible Uber Eats orders, up to 10% off eligible Uber Eats deliveries and pickup orders, 6% Uber One credits, and access to highly-rated Uber drivers, and other promotions.

To take advantage of the Apple Card-related perks from these companies, you may need to open a link from the Apple Card benefits page to sign up or make a booking. The Booking.com section explicitly notes that users will need to open the link Apple provides every time they make travel plans to get the extra perks.