I've had the Apple card for three months and in that time there's been a lot of highs and quite a few lows.
So am I still using it?
Bestop, this is not financial advice.
This is simply my opinions after having used my personal card for the past few months.
So let's start with the good things what I really like about the apple card.
Number one, the application process was super straightforward, really seamless, and probably one of the easiest credit card applications I've had to do.
I have about three other credit cards in my wallet and the apple card.
Definitely wanted in terms of convenience for applying.
And getting approval pretty quickly.
I also like that it's a digital first card and then it lives so easily in the wallet app on the iPhone.
However, when I do switch to an Android phone, which I do quite frequently cuz it's my job, I'm kinda stuck so I have to pull out the actual physical card instead.
I like that it's a cashback card and that you get cashback pretty much every day once things have been cleared, and that it goes instantly into your Apple cash account, and then you can transfer it out or pay off your balance if you like.
There are three different tiers of percentage cashback that you get, depending on where you spend, the highest at 3% is early in a couple of categories at the moment such as Uber And Walgreens and of course Apple purchases 2% is for anything on Apple Pay if you use your phone at an NFC compatible terminal or just Apple Pay anywhere else on your phone.
And the 1% is the actual physical credit card itself.
Sorry speaking of that physical credit card you obviously don't have to get it I of course wanted to because it's The whole part of the Apple Card for me is the thing that you can pull out and flash and impress your friends.
I guess if they're impressed by metal credit cards.
Maybe you are.
I think it's kind of fun the first few times I pulled it out.
The [SOUND] titanium feel.
I just feel very bolo when I do bring it out.
But because it's only at that 1% cash back when I do use it.
It doesn't really seem worth it when I have the option to use Apple Pay or another card in my wallet that offers me something more such as a higher cash back rate than the one percent or maybe even a card that offers me some extra points when it comes to travel or dieting options.
I also like the almost instantaneous support options that you have within the Apple Card.
You can call if you want, but I found myself using the actual messaging feature within I message to talk to the bank if I had a problem.
So I liked it, it was quick, it was responsive, and I got what I needed within a few minutes.
But the big thing, the thing that really saved my bacon when I had the apple card and not the physical card, I mean the card on my wallet on the iPhone.
I got robbed and everything was stolen in my wallet, my whole wallet itself all my credit cards, my IDs, my cash.
I had nothing fortunately I still had my phone on me So I could immediately cancel as many cards as I could, and also cancel the physical Apple card from within the wallet app.
The other good thing about the apple card was that there is actually no physical number on the card itself.
And I could continue using the actual card by inputting that credit card number from the wallet app.
Into things like online forms when I wanted to buy something, while my other physical cards were getting replaced, I know it was an extreme situation in which I got robbed and my wallet was stolen, but my phone was not if the situation had been reversed and someone had stolen my phone The situation would have been very different and I would have had to scrounge around to try and find a way to cancel the cards without having a phone on me immediately will be able to access a computer and I think that incident really made me realize that I do have to have a backup with the apple card.
Need to have another IOS device or another way in which to be able to say cancel a card or you know.
Contact support if needed, because.
If someone stole the iPhone and I didn't have a backup, that would be it.
I would be in trouble for a long time until I was able to contact the bank and be able to cancel the card.
So maybe that's something you need to keep in mind.
It's something that I definitely think a lot of and I do have a contingency plan in place now if I do lose my phone.
So with any roller coaster ride.
I get 3% choices in terms of the categories of spending.
So it's not just Uber it's not just Walgreens, it's not just Apple devices that give me 3% cashback.
I really hope that Apple does expand.
That 3% cash back to you pretty soon because I'm still going for other cards in place of this one.>> The daily cash bank is very nice.
However, I would like to see a way for it to automatically be transfered to my bank account say every month because Sometimes I forget about it and it just sits there and I'm thinking I've wasted money.
I could have been spending this money or earning interest on it in another bank account.
So I was hoping there was going to be a way for it to automatically transfer Fact that it's just on the iPhone for the time being is a limitation.
But if you only have an iPhone and you only have the apple ecosystem, of course this card is going to be great for you.
I just wanted a little bit more flexibility so I don't always have to have my phone with me to pay off my bill.
There's been a lot of discussion online as well about alleged gender bias when it comes to issuing credit limits.
Goldman Sachs actually issued this statement and said, as with any other individual credit card, your application is evaluated independently.
We look at an individual's income and credit worthiness which includes factors like personal credit score.
Cause how much debt you have and how that debt has been managed.
So, based on these factors, it is possible for two family members to receive significantly different credit decisions.
And that was a very specific case.
I was, was commented about.
A husband and wife for saving very different credit limits on the Apple card.
In my experience, the credit limit that I got on the Apple card was less than that from my other credit cards, it was probably between I'd say, it was probably about 40% less than my other credit cards overall.
But what I have done is I have reached out to the bank through the iMessage functionality and requested a credit limit raise or reassessments to see what happens.
That process will take a little while.
So I will let you know what happens down in the comments below.
See if I get a credit limit raise.
So overall, the apple card has been worth it for some things.
But age cases for me such as I got robbed and I lost everything and this was really the only card that I had access to in a virtual form at least for a couple of days.
But if that wasn't the case, I don't think I would be reaching for the applecart as much unless I was buying specific items.
I reach for it really only when I am going to those 3% cashback tears Or when I am somewhere that I know takes Apple Pay, and that I know that my other credit cards won't be delivering me more value either in terms of rewards points or in terms of cashback.
So it's kind of a situation where this is not really my preferred primary card at the moment.
And I was kind of hoping it would be just because it's so easy.
I really like the interface.
I think it's very easy to understand your spending.
And to see the breakdown of where your money goes in visual and color format is nice.
My other banks offer something similar but it doesn't look as good as it does in the Wallet app I'm gonna be reading and responding to your comments, so feel free to leave them in the comments section below.
Make sure to check out all the other Apple code coverage too.