Quick Answer: Is The Apple Card Worth It?

Can my wife use my Apple card?

There is no option for multiple users or sharing cards at this time.

There’s one card per person and one card per account, which means spouses and family members cannot share a single Apple Card account..

Is Apple card a credit or debit card?

The Apple Card’s unique features In many ways, the Apple Card is a straightforward credit card, but it has some unique features that bear mentioning. The card is primarily designed to be used with your iPhone’s Wallet app, and you can pay for products with it using Apple Pay through your iPhone or Apple Watch.

How long does Apple card approval take?

It can take somewhere between 7-10 business days to get approved for the Apple Credit Card. In some cases, you could get immediately approved. If you do, you’ll get an offer with your initial credit limit and APR after applying. If you accept the offer, you can start using your Apple Card with Apple Pay.

Why is Apple card bad?

One of the biggest drawbacks of the Apple Card is that its cash back program is not that rewarding. Cardholders receive bonus cash on Apple purchases: 3 percent cash back on everything you pay from Apple – including Apple Store, apple.com, App Store and iTunes purchases – and 2 percent cash back on Apple Pay purchases.

What is the catch with Apple card?

But yes, there is a catch. While Apple won’t charge you a penalty for missing a payment — for example, no $25 late fee in addition to what you already owe — you’ll still get charged interest. According to Apple’s website: Late or missed payments will result in additional interest accumulating toward your balance.

Does Apple card report to Equifax?

Apple Card is starting to show up on Equifax credit reports, but not yet for all users, according to a Reddit discussion today. Apple Card info is now being reported to all three major credit bureaus in the United States, with the other two being Experian and TransUnion.

Does Apple card report to Experian?

Apple Card users say reporting of their credit card use is now appearing on Experian, the consumer credit reporting company, AppleInsider reported. Reporting of the Apple-branded credit card user’s information had been limited to TransUnion, the Chicago-based consumer credit reporting agency.

What credit score do you need for Apple card?

The Apple Card’s credit score requirement is 700 or higher. That means applicants need at least good credit to qualify for an Apple Credit Card account. While it’s possible to be approved with a lower score due to a high income or other positive factors, it’s best to not take the risk.

What are the pros and cons of Apple card?

Apple Card Pros & ConsProsConsStrong security features No fees Physical credit card available Various spending management featuresMust use Apple Pay for the best rewards earnings1 more row•Dec 13, 2019

Is Apple card a hard inquiry?

Applying for the Apple Credit Card does lead to a hard inquiry into an applicant’s credit report, but only at a certain point in the application process. First, Goldman Sachs, the card’s issuer, does a harmless soft pull of the applicant’s credit. Some people may be denied right away based on this soft pull.

How does Apple make money on Apple card?

Apple Card is an extension of Apple Pay, which the company earns money from every time a user makes a transaction (Apple charges a small fee to the bank that issued the card used for each Apple pay transaction).

Is the Apple card good?

The Apple Card saved my bacon when I got robbed. But it’s still not the top credit card in my wallet. The Apple Card caused a splash when it first launched in August. Designed for iPhone users, it has no fees, offers daily cashback rewards and works with Apple Pay, but it also exists as a physical titanium credit card.

What happens if I don’t use my Apple card?

What happens if I don’t use my Apple card for months at a time? Depends on the bank. But most close accounts that are not being used between 6mo-1yr of inactivity. … You are losing credit history (account), and available credit balance.

How can I build my credit fast?

Steps to Improve Your Credit ScoresPay Your Bills on Time. … Get Credit for Making Utility and Cell Phone Payments on Time. … Pay off Debt and Keep Balances Low on Credit Cards and Other Revolving Credit. … Apply for and Open New Credit Accounts Only as Needed. … Don’t Close Unused Credit Cards.More items…•

Does Apple card automatically increase credit limit?

Process for requesting a credit limit increase Goldman Sachs does not offer automatic credit line increases on the Apple Card or any specific guidance on the best time to try – it’s up to you to submit your request when you feel ready.

Is Apple card good for first credit card?

The average among credit cards for people with good credit is about 21%. Many credit cards for people with good credit or better also offer 0% introductory APRs. The Apple Card does not. In other words, don’t apply for the Apple Card unless you can pay your bill in full every month.

How do I increase my apple card limit?

How to increase your Apple Card credit limitOn iPhone, head to the Wallet app and tap Apple Card.In the top right corner, tap the … icon.Choose “Message”Tell the Apple Card support rep you’d like to request a credit limit increase.

Does Apple card build credit?

The Apple Card reports to TransUnion but does not report to Experian or Equifax. “Certainly, yes,” a card can help you build credit, says John Ulzheimer, who has worked at credit bureau Equifax and credit analytics company FICO. … The Apple Card is limited in credit reporting. But that doesn’t mean you can miss payments.