The Apple Card is NOT as good as it seems

I offer an in-depth and honest review of the Apple Credit Card offered by Goldman Sachs as of 2020.

I hope you enjoy!

Here are the key points from the video:

Disadvantage #1: Forced to use the Wallet App

When I go to pay off my credit cards, I like to pull them up on my desktop or laptop computer and close the tabs as I pay each card. Upon receiving the Apple Credit Card, I realized that Apple didn’t offer a web platform to view the balances of the card. This isn’t a major drawback, but I hope Apple does fix this problem in the future. This is just one of those little inconveniences that are uncommon for Apple. I know that they want to put all of the card’s features in one place, but it makes me wonder how an Android user would be able to see their card’s balance.

Disadvantage #2: No Sign-Up Bonus

I compared the Apple Card to the Chase Freedom Unlimited Card in this video and the Apple Card fell behind quite a bit. The Chase Freedom Unlimited Card has a sign-up bonus of $150 within the first three months of meeting a spending limit and I was disappointed when I realized that the Apple Card didn’t have any sign-up bonuses whatsoever. In the video, I talk about how this may be because Apple doesn’t need to offer a big sign up bonus because they already have a large, loyal fan base.

Disadvantage #3: I can’t put the card in my wallet without risk of staining it

In the instructions that Apple provides for caring for the card, they say not to store the credit card in leather or denim as it could risk permanently staining the card. I did not want to take this risk, so I decided not to keep the credit card in my wallet at all. I only use it when I shop online or find places that Apple Pay is accepted.

Disadvantage #4: Stores that take Apple Pay is hard to find

Speaking of Apple Pay, it is not easy to find a store that accepts this form of payment. One of the stores that I shop at the most is Walmart, and I quickly found out the Apple Pay is not accepted (and probably never will be because Walmart is trying to develop its own form of mobile payment). The reason that Apple Pay is so important is that if you use Apple Pay when making a purchase, you get 2% cashback rather than the normal 1% cashback.

Disadvantage #5: Feels like a Gift Card to the Apple Store

The only real reason that I could see myself needing an Apple Credit Card is if I shop at Apple for a lot of stuff. This would be great if I was always buying computers or the latest iPhone, but this is just not the case for me. The Apple Card seems like a glorified gift card to me that incentivizes shopping at Apple or Apple-related stores.

However, I also go into a few advantages of owning the Apple Card:

Advantage #1: Feels like a flex move

I know you have probably heard it a thousand times, but the Apple Card is made of solid titanium, which makes it heavier than almost any other card that you will own. This is itself makes owning the Apple Card feel like a premium experience.

Advantage #2: Wallet App is easy to use, and it displays how much interest you are paying on your credit card

I know I talk bad about being forced to use to Wallet App in this video, but once I got the hang of it, it is actually really simple and I wish some of my other credit cards had payment methods that were similar to this. Not all companies are as transparent as Apple is with the number of fees (or lack thereof) and interest that is being paid when you don’t make the full payment on your card.

Advantage #3: Generous credit limit

The Apple Card is the 6th credit card that I own now and the beginning balance is the largest that I have received so far. I have seen other YouTubers talk about how the credit limit is not as high as they would have liked, but I don’t see any problem with the amount of credit that they gave me. I think the credit limit is based more on the credit score in this application and a little less on income because I report the same income on all of the cards hadn’t yet received a starting credit limit that was this high. ($6,500)

So those are my honest thoughts on the Apple Credit Card (Mastercard) that is offered by Goldman Sachs as of April/May 2020.

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