credit & debt

Cash-Back Card Coming for Apple Fans

But rival rewards cards are a better deal for non-Apple purchases.

Close to five years after the launch of Apple Pay for iPhone users, Apple has introduced a credit card built into its mobile wallet. Though the card looks cool and has high-tech features, other rewards cards already on the market may be a better deal. Apple encourages users to pay with their phone everywhere Apple Pay is accepted and to use the physical card when that’s not an option. The card will be available in the U.S. this summer.

Rewards are Apple-friendly

You get 3% cash back on what you spend at the Apple Store, Apple.com, the App Store or iTunes; 2% for purchases made with Apple Pay; and 1% for purchases of non-Apple or non–Apple Pay items using the physical card.

Interest rates are typical

13.25% to 24.24%, depending on creditworthiness.

Extra credit for privacy/security

Account number is stored on the card­holder’s smartphone. Cardholders use Face ID or Touch ID to authorize purchases.

It’s fee-free

No annual, late, over-the-limit, cash-advance or foreign-transaction fees.

It’s titanium

The card weighs less than traditional metal credit cards but is less likely to suffer wear and tear compared with plastic cards.

Cash is paid instantly

Rewards are loaded to the card in real time.

Most Popular

Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
The 12 Best Tech Stocks to Buy for 2022
tech stocks

The 12 Best Tech Stocks to Buy for 2022

The best tech-sector picks for the year to come include plays on some of the most exciting emergent technologies, as well as several old-guard mega-ca…
January 3, 2022
How to Know When You Can Retire
retirement

How to Know When You Can Retire

You’ve scrimped and saved, but are you really ready to retire? Here are some helpful calculations that could help you decide whether you can actually …
January 5, 2022

Recommended

What to Do When You Can’t Pay Holiday Debt
Budgeting

What to Do When You Can’t Pay Holiday Debt

More Americans borrowed money to pay for holiday purchases and now the bill is due. Balance transfer cards offer a reprieve.
January 19, 2022
Freeze Your Credit in 3 Steps
credit & debt

Freeze Your Credit in 3 Steps

Freezing your accounts at the three major credit bureaus is the best way to prevent thieves from opening new credit accounts in your name.
January 10, 2022
Good Marriage, Bad Credit
Starting a Family

Good Marriage, Bad Credit

Credit reports aren’t merged for married couples, but their individual records affect joint loans.
December 21, 2021
Kiplinger’s Best Firms for Customer Service: Banks, Credit Cards and More
banking

Kiplinger’s Best Firms for Customer Service: Banks, Credit Cards and More

We evaluated major banks, credit card issuers, mortgage lenders, and home and auto insurers to see how well they treat their clients.
December 21, 2021