Apple Card Cash Back: Everything You Need to Know

Apple Card Cash Back is a game-changer for those who use Apple devices and want to earn rewards on their everyday purchases. The card offers a 3% cash back on Apple purchases, such as Apple products, Apple Music subscriptions, and Apple services.

To earn the maximum 3% cash back, you must use your Apple Card to make purchases on the Apple website or through the Apple Store app. This includes buying new Apple devices, accessories, and services like Apple Music and Apple TV+.

One thing to note is that the 3% cash back rate applies to purchases made directly from Apple, not from third-party retailers.

To earn Daily Cash back, you need to use Apple Card with Apple Pay at participating merchants. These merchants include Ace Hardware, Booking.com, ChargePoint, Duane Reade, Exxon and Mobil gas stations, Nike, Panera Bread, T-Mobile, Uber, Uber Eats, and Walgreens.

The Daily Cash back offer is 3% on all purchases made with Apple Card at these merchants, and it's automatically applied when you use Apple Card with Apple Pay. You can find the list of participating merchants in the Apple Card section of your Wallet app.

To get the most out of the Daily Cash back offer, make sure you've set up Apple Card as your default payment card in the Wallet app. This way, you'll automatically earn Daily Cash back on all your purchases at participating merchants.

Here are some of the participating merchants and their specific Daily Cash back offers:

Note that some merchants, like Panera Bread, may change their Daily Cash back offer over time, so be sure to check the terms and conditions before making a purchase.

You can view your Daily Cash earnings for a specific purchase by searching by category, merchant, location, date, or transaction amount. If you use Apple Card Family, you can see who made the purchase.

To access your Daily Cash, open the Wallet app on your iPhone, tap Apple Card, and then tap the More button to select Daily Cash. You can also scroll down to Merchant Benefits to see the complete list of merchants that offer 3% Daily Cash when using Apple Card with Apple Pay.

To keep track of your Daily Cash, you can download or open merchant apps, access merchant websites, and find store locations in the Daily Cash section.

To view the Daily Cash you earned for a specific purchase, you can search by category, merchant, location, date, or transaction amount.

If you use Apple Card Family, you can see who made the purchase.

To access this information, open the Wallet app on your iPhone and tap Apple Card. Tap the More button, then tap Daily Cash.

You can also scroll down to Merchant Benefits to see the complete list of merchants that offer 3% Daily Cash when you use your Apple Card with Apple Pay. Tap See Details to view the list.

You can send your Daily Cash to Savings, which is a great way to earn interest on your cash back rewards. To set up Savings, you'll need to open the Wallet app and tap Apple Card.

If you've already set up Savings, you can send your Daily Cash there automatically. You can choose to send your Daily Cash to Savings or Apple Cash, but you can only have one Daily Cash Election at a time.

You can add or withdraw funds from Savings anytime with no fees. This makes it easy to manage your cash back rewards and earn interest on them.

If you share an Apple Card, owners and co-owners can each set up their own Savings accounts. Savings accounts are individually-owned and don't allow you to add a co-owner.

Here's a quick summary of the steps to send your Daily Cash to Savings:

If you don't set up Savings or Apple Cash, your Daily Cash will accumulate and can be redeemed as a credit to your Apple Card account.

The Apple Card Cash Back rewards 3% cash back on all purchases made directly with Apple, including the App Store, Apple Music, and Apple TV+.

You can earn 2% cash back on all other purchases made with your Apple Card, with no rotating categories or spending limits.

The cash back rewards are automatically applied to your statement balance, so you don't have to worry about tracking or redeeming rewards.

If you return a purchase made with Apple Card, the Daily Cash you received when you made the purchase is charged back to your Apple Card.

You'll be issued a credit for the purchase price, but the Daily Cash earned will be reversed.

If you don't set up a Savings account, your Daily Cash from Apple Card purchases accumulates. This means you can't earn interest on it, and it's not being used to your advantage.

If you don't set up Savings or Apple Cash, your Daily Cash will be redeemed as a credit to your Apple Card account, which is considered a payment. This can affect your credit utilization ratio and potentially impact your credit score.

You can't add a co-owner to your Savings account, even if you share an Apple Card. Each owner and co-owner must set up their own Savings account.

If you later make a Daily Cash Election, any accrued but unredeemed Daily Cash will be transferred to your Daily Cash Election. This means you can still earn interest on it and use it to your advantage.

Here's a summary of the consequences of not setting up a Savings account: