Apple card was first introduced back in March at the WWDC 2019 event. Since then Apple has been working on creating a credit card to encourage customers to healthier financial spending with daily rewards and it is primarily available to iPhone users.
Since the beginning of August, the Cupertino company has been rolling out the Apple card to random users that showed early interest. However, the official credit card was made available on August 20.
One question that many people might ask themselves, especially iPhone users is: what credit score is required to be approved? Is Apple do a hard inquiry or soft credit check?
Although it is an Apple product, it is issued by Goldman Sachs bank. The application process is easy and simple. Apple does a soft pull of your credit until you accept the terms and conditions, then it will show on your credit history since the card is meant to build your credit score.
When it comes to approval, some users have reported being approved in the 600 scores.
What sets Apple credit card apart from other cards is that it has a titanium finish, which is unusual when it comes credit card. The application process is via Wallet app on the iPhone or the official Apple website. You can request for a physical card upon approval, which takes up to a week to be delivered.
To activate your card, all you have to do is open the Wallet app from you iPhone – click more – under physical card – click activate, then follow the instructions.
This card can be used anywhere Apply pay is accepted, otherwise, you can use the laser-etched titanium card to make purchases. Also, this app will show you visually all the expenses and payments made with the card, whether through Apple Pay or not. And yes, the Apple Card can be used outside of Apple Pay as a normal card. Another benefit is that you pay less interest, which ranges from 12.99%-23.99% APR, offers daily cash, and no fees annually, earn 3% on Apple purchases, 2% on everything else when you use Apple pay. Otherwise, 1% using the physical card.
Talking about the physical card, it does not have the classic three-digit security code, neither CVV. For security purposes, Apple will generate a number and a code on the virtual card when you want to pay online. Each purchase will require a confirmation code that will appear after being identified with Face ID or Touch ID. Replacement Apple Cards are free.
The bottom line is Apple card benefits are not bad. But if you are looking for cashback, you might want to look elsewhere for something more suitable.