Is Apple Card Worth It in 2024?

A picture of the Apple Credit Card.

Apple Card is here. While this is new to us all, rumor has it that Steve Jobs attempted to release a credit card back in 2004. So, what is the big deal? What makes this credit card so special?

The top-selling features of this credit card are:

ZERO annual fees.
No credit card number is visible on the titanium card.
3% cashback on Apple products and services.
Cashback is available within 24 hours.
2% cashback for all other purchases made using Apple Wallet.
1% cashback for all purchases using the titanium card.
The cool factor of owning a titanium credit card. Throw it on a table and it'll get everyone's attention.
Apple Wallet shows how much you need to pay to avoid paying interest.
No international fees.
No over-limit fees.
No late fees.

Too good to be true?

As with everything there are cons. Purchases made using that fancy titanium card is only 1% cashback. The APR ranges between 12.99% to 23.99% regardless of credit. It looks like the way they make money is through higher interest rates.

Will everyone get approved?

I signed up more out of curiosity at first but lo and behold I was accepted. Mind you, my credit isn't all that worthy, to begin with, so I was a bit surprised.

Will everyone get approved? It appears so, according to Business Insider. Goldman Sachs and Apple are offering “subprime” credit cards. This sounds great for people who spend wisely. Yet, it also has consequences if people are not careful. Not going to lie, it reminded me of the 2008 financial crash. This whole idea to be doing business with Golden Sachs feels iffy. But, that'll make sure I adjust to never pay on interest.

Why did I get one?

I applied for the same reason everyone else did. It was for that titanium card and the 3% cash back for Apple products and services.

How fast did I get the card?

I applied on August 8, 2019. The wallet app informed me within a few minutes that I was approved. To get the titanium card, there was an option I could request for free. I finally received mine on August 21, 2019, via UPS 2nd Day Air. The delivery driver left it on my porch. All I had to do to activate the card was tap inside the Apple Wallet app.

Is this card for everyone?

From a financial standpoint, no this is not. I think the interest rates are too high to carry a balance over 30 days. If used responsibly it could be a great benefit. A thing to remember is every credit card is a liability that needs to be monitored. This card is exclusive to Apple devices, so if you're wanting to use another phone then this may not be a good idea. Who knows, maybe Apple Wallet will be available on all other devices soon. Just note most retail stores do not accept Apple Pay yet.

Who is this card good for?

This is great for purchasing Apple products and services. Mostly because you get 3% cashback. As an app developer who needs the latest devices anyways, it is a no-brainer for myself as I have to buy it anyways. The approval rate seems to be wide open right now. So, if you need to build your credit history this may be beneficial. That is if you remember to spend responsibly.

The titanium credit card has been a great talking point with cashiers and restaurant waitresses. The titanium card can be used as a strategy to get attention or break the ice.

So, all in all, what do you think? Are you interested in applying for the Apple Card? I hope this helps someone answer any questions they may have about the Apple Card.