Apple Card, the giant technology company foray into the credit card business, launched in August 2019.  With its second anniversary coming in a few weeks, it’s an excellent time to review the card again. 

Apple Wallet, Apple Pay, and Apple Cash are excellent benefits from the card, but are those benefits enough, and how does the credit card stack against its competitors?

Let’s dig deeper into Apple Card’s top 3 benefits

Apple Wallet

Apple Wallet is a digital wallet, but users can store more than cash, credit cards, and ex-girlfriend’s pictures.  The digital wallet lets users store coupons, boarding passes, student ID cards, government ID cards, business credentials, and more.

Apple cardholders can store their card in their Apple wallet for convenience.

Apple Pay

Apple Pay allows users to make payments in person. Users can store their Apple Card in their Apple Wallet and choose Apple Pay to pay at the counter or cashier.

Apple Cash

Apple Cash allows users to use their Apple Wallet and Apple Pay to send and receive cash securely with their iPhone, Apple Watch, iPad, and other Apple. 

Standard Credit Cards Benefits

Comparing the Apple Card to other credit cards is guaranteed to be a flawed exercise because traditional credit card issuers are not usually multinational technology companies.

Regardless of its issuer, Apple Card is a credit card, so it’s best to compare it with other credit cards.  Because credit card debt is one of the most expensive debts, consumers need to do their own due diligence before applying for any credit card.

Cash rewards bonuses, 0% promotional APR offers, and cashback are amongst the benefits that new cardholders are looking for the most.  On that front, the Apple Card failed miserably. 

Apple Claims ” No Fees. Period”

Apple Cardholders only get 2% cashback if they pay with an iPhone or Apple Watch, aka Apple Pay. The card has no welcome bonus or 0% promotional APR offers, and it does not allow balance transfer.

Capital One Venture, Blue Cash Preferred Card from American Express, and Wells Fargo Active Cash Card are unique credit cards from traditional credit issuers that offer customers all the benefits mentioned earlier.

Bottom line

The Apple Card is not a consumer-friendly card and not a middle-class-friendly card. Although it has no annual fee, it offers consumers too few benefits compared to traditional credit card issuers’ options.

Apple’s products are seamlessly vertically integrated. That ecosystem is the company’s competitive edge.  

Apple’s consumers often benefit significantly from that synergy when using its products, but Apple Card is not one of them.

Consumers who can get approved for the credit card should explore credit cards from traditional credit card issuers because they can get up to a $300 cash rewards bonus,  0% intro APR for 15-plus months, unlimited cash rewards on all purchases.