The Titanium Apple Card
With Apple Card you can make digital Apple Pay payments, but Apple is also providing a physical card. Since this is a credit card designed by Apple, it is, of course, unique among credit cards.
It’s made entirely from titanium, which is laser etched with your name. The front of the card does not have a card number or an expiration date listed, and on the back, there’s no CVV and no signature. If someone finds or steals your card, there’s no real way for them to use it, at least for online purchases.
The physical Apple Card does not support contactless payments itself — you need to use your iPhone for Apple Pay payments. There is no cost for the card and there is no fee associated with replacing it if you lose it.
The titanium Apple Card weighs in at 14.7 grams, which is heavier than the Chase Sapphire Preferred and lighter than the AMEX Platinum, both of which are also considered heavier weight cards.
You’re An Android User
To use Apple Pay, you must have an iPhone model that can support it . If you’re committed to a different mobile wallet, such as Samsung Pay or Google Pay, consider instead the Citi® Double Cash Card 18 month BT offer. It pays 2% cash back on all purchases: 1% when you buy and 1% when you pay and you can add it to the digital wallet of your choice.
Understanding Your Fico Score
When you apply for a credit card, your FICO score is typically a key factor used to show lenders how reliably you manage your credit. It combines data about your payment history, current debts, the length of your credit history, any new credit accounts, and the various types of credit youve used. There are multiple FICO Score versions available for lenders to use. Apple Card uses FICO Score 9. FICO Score 9 ranges from 300 to 850, with scores above 660 considered favorable for credit approval.
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Why You Might Want The Apple Card
The $0-annual-fee Apple Card earns 3% cash back on Apple purchases, as well as at select merchants and through select apps, and 2% back on everything else but only if you make your purchases via Apple Pay on your iPhone. If you use the physical version of the card, which is an option at retailers that dont accept Apple Pay, youll earn only 1% cash back.
It’s unclear what kind of credit scores you’ll need to qualify for the Apple Card, but assuming you are creditworthy, you might benefit from this card. Here’s how.
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See If You’re Eligible
- To be eligible to apply for Apple Card, you must be 18 years old or older, depending on where you live.
- You must be a U.S. citizen or a lawful resident with a valid, physical U.S. address that’s not a P.O. Box. You can also use a military address.
- Your device must be compatible with Apple Pay. See which devices are compatible with Apple Pay. Make sure that your device has the latest version of iOS, watchOS, or macOS.
- You must sign in on your device with your Apple ID and use two-factor authentication.
- If you have a freeze on your credit report, you need to temporarily lift the freeze to apply for Apple Card. Learn how to lift your credit freeze.
- You might need to verify your identity with a Driver License or State-issued photo ID.5
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Apple Card* Vs Chase Freedom Flex
The Chase Freedom Flex card has a generous rewards structure with no loyalty to Apple required. For an annual fee of $0, the card earns 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
Chase has been known to include retailers like Amazon, Target and Walmart as quarterly bonus categories and if youve been eyeing a new Apple device, youd fare better with the Flex. Plus, the Freedom Flex comes with a terrific welcome bonus: $200 bonus after spending $500 on purchases in the first 3 months from account opening and 5% cash back on grocery store purchases on up to $12,000 spent in the first year. For many consumers, the Freedom Flex is likely a more rewarding option overall than the Apple card.
What Other Perks Does The Apple Card Offer
In addition to cash back rewards, the Apple Card offers several features designed to help cardholders manage their finances and build their credit. Use the Wallet app to track your purchases by category or identify spending habits and trends. When you make credit card payments, the Wallets payment wheel will offer recommendations to help you avoid interest charges and pay down your balance more quickly. You can even pay for Apple products in interest-free installments.
You can also share your Apple Card account using Apple Card Family. With this feature, you can share your account with up to five people. Everyone on the shared account can use your Apple Card and view their spending. Account owners and co-owners can see group members activity, set transaction limits and more.
You can designate a co-owner for the account, too. Like an authorized user, they will share your credit line and information reported to credit bureaus regarding the account. Your account co-owner must be at least 18 years old, while children over 13 can also be added to the account.
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Why Your Application Is Pending Or In Review
Goldman Sachs might need more time to review some applications, or request more information to verify your identity. After you apply, you are shown a message in Wallet app that will indicate your application is in review. Updates regarding your Apple Card application will be sent to the primary email address associated with your Apple ID.
Information About Credit Reporting
It’s important for everyone on an Apple Card Family account to understand how credit reporting can impact their credit file. Information about the Apple Card Family account, such as payment history and credit utilization, is reported to credit bureaus and shown in credit bureau reports for account owners and co-owners. This information might also be shown in credit bureau reports for a participant if they’re being reported on the Apple Card Family account as an authorized user. Being credit reported can assist with building credit history for account co-owners and participants. Generally, accounts that have been established for a while, show consistent on-time payments, and have low balances , might result in a more positive credit impact.
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You Shop Primarily At Stores That Don’t Accept Apple Pay
Some major retailers, including Walmart, dont accept Apple Pay. And while Costco does, you can only use Visa cards there the Apple Card runs on the Mastercard payment network. This is to say nothing of the much smaller merchants where you may run into issues: Food trucks, mom and pop stores, bodegas and others simply may not be equipped to handle Apple Pay.
» MORE: How the Apple Card stacks up against the competition
Whats Missing From The Apple Card
Ill be the first to acknowledge that the Apple Card has its downsides.
To maximize this card, youll need an iPhone or iPad. If you dont have one, youll have little use for the Apple Card. And if you lose your phone and dont have the physical card, youll also lose access to the account and to being able to make purchases, at least temporarily.
The card doesnt come with many bells and whistles. For example, it doesnt offer a sign-up bonus or benefits like purchase protection and extended warranties. If youre after rewards or benefits that can be used for travel, its not a good choice either. But because the Apple Card is a Mastercard, it does offer a range of other benefits, including fraud protection, identity theft protection, and a free ShopRunner membership that provides free two-day shipping from some websites.
The cards rewards structure also falls short of top competitors because of the limited amount of 3% cash back categories, while 2% cash back is available only on Apple Pay purchases. Youll only receive 1% cash back when you use the actual card.
Apple Card
- Intro bonus:
- At our partners secure site
Citi® Double Cash Card
- Intro bonus:
- At our partners secure site
Blue Cash Preferred® Card from American Express
Editors Score:
- Intro bonus:
- $0 introductory annual fee for the first year, then $95.
- Regular APR:
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Their Algorithm Is Not Ai But It Can Evolve
As Goldman managing director Andrew Williams made clear, the companies acceptance/rejection algorithm is a pretty simple decision tree, not AI. This means its built to use basic financial metrics to reach a yes or no decision. The key input is a TransUnion credit report, notably evaluated using the FICO Score 9 rating system, though the specifics of that evaluation arent completely transparent. It also considers your reported annual income to determine how much cash you will likely have left after paying your monthly debt obligations.
Williams emphasized that the Apple Card has been available for less than a year and that the companies are still working to evolve their credit policy and add additional customers. In other words, an applicant rejected last August might be accepted in the future without personally making any changes. But my impression is that the simple decision tree wont change much unless the companies decide to open their gates wider. The Path to Apple Card is there to help more people meet Goldmans prior creditworthiness standard, rather than to ease that standard.
Using Apple Card For Non
If you need to pay for purchases that cant be made with Apple Pay, you can use the physical version of the Apple Card that Apple sends once you sign up. In addition to Goldman Sachs, Apple is partnering with Mastercard, so the physical Apple Card can be used wherever Mastercard is accepted.
When your physical card comes in the mail, setting it is simple. On the iPhone XS, XS Max, and XR, all you need to do is hold your iPhone near the envelope that it came in for an NFC scan and then tap the Activate button on your iPhone when it pops up.
On the iPhone X and earlier, you need to open up the Apple Card, open the Wallet app, tap the Activate button in the Wallet app and then hold your iPhone near the packaging that the Apple Card came in. Unlike traditional cards, you do not need to place a phone call for activation purposes.
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How Do I Find Out My Credit Score
There are a number of ways you can find out your credit score, and a lot of them are free. For a long time, people were only able to check their credit score once per year for free and would have to pay a fee each additional time. That has since changed, and there is now a multitude of services that allow you to track and check your credit score as many times as you would like without paying anything. A few of these services, like , provide your credit score for free as well as a host of other things like free tax returns, unclaimed money, and help with disputes on your credit. A lot of credit cards have started to provide free credit scores to their cardholders as well, so check with your card providers to see if it is an included benefit with your card.
Can I Reapply For The Apple Card
The answer is yes, but you have to go through a process. Goldman Sachs offers a program known as Path to Apple Card for those who have been declined but wish to reapply for an Apple Card. The program itself is not an application, but if you complete the program, you will be invited to apply for the Apple Card again.
By enrolling in the program, you authorize Goldman Sachs to obtain your credit reports from TransUnion and other major credit bureaus , as well as third-party sources.
Goldman Sachs will set goals for you and design a personal program with steps to take to improve your credit. You will get monthly emails to track your progress. Once you achieve your goals, you will be invited to reapply for the Apple Card.
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How Do You Get The Apple Card
Signing up for Apple Card is as simple as opening up the Wallet app, tapping on the Apple Card interface, and walking through the activation steps. Much of the information you need is pulled from your Apple ID, which means Apple Card setup takes just a couple of minutes to set up. You can also apply on Apple’s website when making a device purchase that uses the Monthly Installment Plan or through the Apple Card website.
Information required includes first and last name, date of birth, phone number, home address, country of citizenship, the last four digits of your Social Security number, and your annual income. Some users may also be asked to scan their driver’s license or state ID. There is an issue with the Apple Card right now that prevents Apple from accepting vertical IDs.
What Credit Score Do You Need For Amazon Credit Card
Asked by: Dr. Zachery Schamberger I
You must have a good credit scoreat least 670to be considered for either of the co-branded Amazon Signature Visa cards. Amazon also offers two store cards, but these cards are not credit cards. The cards are used for purchases on Amazon.com but eligible for use in Whole Foods markets.
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Where Is Your Apple Card Credit Card Number Located
The titanium Apple Card features a minimalist, security-focused design that doesnt include a credit card number. To look up your Apple card number, open your Wallet app, locate your Apple Card, tap the three dots in the upper-right-hand corner of the screen and select Card Information. Complete the authentication step to prove that its really you, and the Wallet app will reveal your credit card number.
What Credit Score Do You Need
To qualify you need a fair or average credit score of at least 600. However, Apple also considers clients with scores ranging from 580-669. Unfortunately, if your credit score is lower than this, you dont qualify for this card.
If you do not qualify for the Apple card, do not give up. Join the Path to Apple Card program, meant for people wishing to have the card who have lower credit scores. This program consists of credit-building tasks to help you improve your credit score and gain eligibility for the card.
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Apple Card Approval Odds
Variable APRs range from 10.99% to 21.99% based on creditworthiness. Apple highlights several factors that can affect approval:
- If youre behind on debt obligations or have previously been behind
- If you have negative public records
- If youre heavily in debt or your income is insufficient to make debt payments
- If you frequently apply for credit cards or loans
- If your credit score is low
Apple Card is backed by Goldman Sachs, and Goldman Sachs uses TransUnion and other credit bureaus to evaluate your application. Apple says that if your FICO9 score is lower than 600, Goldman Sachs might not be able to approve you.
Factors That Affect Your Ability To Get A Credit Card
Credit card issuers will also look at other factors besides your credit score when reviewing your application. One of the most important considerations is your income whether or not it is a steady source of income that is sufficient to pay back your debt. Card providers will also consider how you have utilized previous credit accounts. Even with a good credit score, it is still possible for your credit card application to be denied if you have too much existing debt or limited credit history.
Additionally, lenders will consider an applicants credit history which provides a more holistic view of long term credit tendencies rather than just a single score or rating. includes detailed reports of whether previous debts have been paid in full and on time, and whether the debtor tends to keep a balance on their credit cards.
Usually, credit card providers prefer to offer credit to those who are employed full time. Students, retirees, part-time workers and self-employed workers may find that they are eligible for lower credit amounts and have limited options in regards to which credit card they qualify for.
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