Apple Cash Back Worth It: A Comprehensive Review of the Program

Apple Cash Back is a program that rewards Apple Card holders with cash back on their purchases. The program offers 3% cash back on purchases made directly with Apple, 2% on purchases made with Apple Pay, and 1% on all other purchases.

To participate in the program, you need to have an Apple Card, which can be applied for through the Wallet app on your iPhone. Apple Card has no annual fee, no foreign transaction fees, and a 3% interest rate on purchases.

The cash back rewards can be redeemed for gift cards, statement credits, or direct deposits into your bank account. You can also use the rewards to purchase Apple products, such as the latest iPhone or a new Apple Watch.

The Apple Card's cash back program has both benefits and drawbacks. Here are some of the key pros and cons to consider:

The Apple Card offers 3% cash back on purchases made directly from Apple, on Uber and UberEats, at Walgreens and Duane Reade stores, and in T-Mobile stores and at Nike. You can also earn 2% cash back when using Apple Pay and 1% when paying with the physical card.

One of the biggest drawbacks is that Apple Pay isn't accepted everywhere, leaving a chunk of retailers where you won't be able to use a staple feature of this card. Additionally, purchases made with the physical card only earn 1% cash back.

The Apple Card also doesn't offer special financing offers or a welcome bonus for new customers. However, it does provide access to Daily Cash back and rewards of up to 3%, which can be redeemed the same day.

Here's a breakdown of the Apple Card's cash back program:

The Apple Card is best for consumers who already operate in the Apple universe and who mostly want to redeem their rewards toward purchases or for statement credits or deposit their rewards in a high-yield savings account. If you don't have an Apple device and don't plan on getting one, this card and its rewards program will be of little value to you.

The Apple Card benefits are pretty straightforward, but perfect for someone who wants a simple cash-back card experience. You can earn 3% Daily Cash back on purchases at Apple and select merchants when you use Apple Pay.

The card comes with digital budgeting tools in Apple Wallet app, which can help you keep track of your expenses. This feature is a great way to stay on top of your finances.

You can also use the Apple Card Monthly Installments for Apple purchases, which allows you to pay for your Apple products over time. This can be a big help if you're not ready to pay for a new device upfront.

The card offers joint co-ownership, which means you can build credit with a partner or spouse. This can be a great way to start building credit or rebuilding credit after a financial setback.

You can connect your Apple Card directly to a high-yield savings account, which can earn 4.40% APY. This is a great way to save your Daily Cash and earn interest on your savings.

The Apple Card also offers 24/7 call and text support, which can be a big help if you have any questions or issues with your card.

The Apple Card has no annual fees, foreign transaction fees, or late payment fees, which is a major advantage over many other credit cards.

Its variable APR ranges from 19.24% to 29.49% based on your creditworthiness, which is comparable to other popular cashback cards.

One of the unique features of the Apple Card is its integration with Apple products, allowing users to pay for new purchases through Apple Card Monthly Installments with no interest charges.

The Apple Card rewards program offers a tiered structure, giving you up to 3 percent back on certain purchases. Here's how it works:

The program offers 3 percent back on goods or services purchased directly from Apple, including those from Apple online and retail stores, iTunes, Apple Music, and other Apple-owned properties.

You'll also earn 3 percent Daily Cash at select merchants, which currently include Duane Reade, Mobil, Panera Bread, Uber, Walgreens, Ace Hardware, Exxon, Nike, T-Mobile, and Uber Eats.

The rewards program also offers 2 percent back on Apple Pay purchase transactions and 1 percent back on everything else. Here's a breakdown of the rewards structure:

The Apple Card program is designed to reward loyal Apple customers with cash back on their purchases. The card comes with no annual fee, no foreign transaction fees, and no late fees.

The rewards program is tiered, offering different rates of cash back on different types of purchases. Here's a breakdown of the rewards program:

The Apple Card is issued by Goldman Sachs and is designed to work seamlessly with Apple Pay. If you're shopping with an app or on a website that doesn't accept Apple Pay, you'll get a virtual card number that operates in the Wallet app. This card is also a Mastercard, so it's accepted anywhere Mastercard is accepted around the world.

The average variable interest rate range for the Apple Card is 19.24 percent to 29.49 percent, but the card can help you pay less in interest by estimating how much you'd pay on a specific purchase and suggesting a payment amount to help you pay down your balance faster.

You can change where you send your Daily Cash, but keep in mind you can only have one Daily Cash Election at a time.

To make the change, simply open the Wallet app on your iPhone and tap Apple Card. From there, tap the More button, then tap Daily Cash.

You'll see an option to select where you want your Daily Cash to be sent: Savings or Apple Cash. Just tap on your preferred option to make the change.

You can use your Daily Cash rewards for a variety of purposes, including buying items via Apple Pay, sending money to friends, paying down your credit card balance, and growing your savings in a high-yield Apple Savings account.

Daily Cash can be used to make purchases through Apple Pay, which means you can use it anywhere Apple Pay is accepted, from grocery stores to boutiques and restaurants.

To redeem your Daily Cash, you can apply it as a statement credit to your Apple Card balance, spend it like cash through Apple Pay, transfer it to a bank account, or send it to friends via iMessage.

If you don't have an active Apple Cash card, your cashback accrues in your Apple Card account, and you can manually redeem it through the Wallet app.

You can also set up a Savings account through Apple, which will allow your Daily Cash to be deposited into a high-yield savings account that earns 4.40% APY.

Here are the ways you can redeem your Daily Cash:

The Apple Card's cash back program is a great deal for loyal Apple customers who already use Apple Pay and make frequent purchases with the brand. If you don't have an Apple device, this card and its rewards program will likely be of little value to you.

To get the most out of the Apple Card, you should already operate within the Apple universe and want to redeem your rewards toward purchases or for statement credits. You can also deposit your rewards in a high-yield savings account.

If you're already deeply invested in the Apple ecosystem, the Apple Card's cash back program may be a great fit for you.

The Apple Card's cash back program is worth it if you're already an Apple customer who makes a lot of purchases with the brand and uses Apple Pay. This card and its rewards program will be of little value to you if you don't have an Apple device and don't plan on getting one.

You'll earn up to 3 percent back for some purchases, including 3 percent Daily Cash earned at select merchants like Duane Reade, Mobil, and Uber. You'll also earn 2 percent back on Apple Pay purchase transactions and 1 percent back on everything else.

To get the most out of the Apple Card, you'll need to add your Apple Card to an eligible iPhone or iPad that you own with the latest version of iOS or iPadOS. This is because the card is designed for Apple enthusiasts and the rewards are geared toward keeping you that way.

Here are some key rewards categories and their corresponding cash back rates:

If you're not an Apple customer, you might want to consider other top rewards credit cards that let you earn a similar rate of rewards in popular bonus categories. These cards' rewards structures won't be tied to your mobile device, and you may have more options for cashing in rewards.

If you don't set up Savings or Apple Cash, your Daily Cash from Apple Card purchases accumulates.

This means that the money you earn from using your Apple Card won't be automatically deposited into your Savings or Apple Cash account. It will instead be stored as a credit to your Apple Card account, which can be used as a payment.

The good news is that you can still redeem this accumulated Daily Cash as a credit to your Apple Card account. But if you do decide to set up Savings or Apple Cash later, any accrued but unredeemed Daily Cash will be transferred to your new Daily Cash Election.

This can be a bit confusing, so it's worth keeping track of your Daily Cash earnings to make sure you don't miss out on any rewards.