Credit cards that are associated with a particular store or brand can be especially useful if you purchase products from the retailer in question often. The Apple Credit Card, also known as the Barclays Visa with Apple Rewards provides users with access to money-saving rewards on a variety of Apple Store products. But is it really worth applying for?
What Apple Credit Card Reviews Have to Say About This Card
If you are a fan of Apple products and would like to receive discounts or special offers on the latest products, this could be a great secondary card for you.
However, it should not be used as your primary credit card for everyday purchases. That’s because there are many other cards out there that can provide you with better cash-back rewards than the Apple Credit Card.
After reading up on several customer reviews for the card, we’ve found that the Barclays Visa with Apple Rewards may be a great card for shopping at your local Apple Store. But when it comes to financing a new iPhone or making everyday purchases, such as at the gas station or grocery store, this is not the card to use.
Apple Credit Card Reward Benefits and Limitations
While the Apple Rewards seem to be the biggest benefit customers receive from using the Barclays Visa, it is also the feature that has the most limitations.
Users receive points with every purchase they make. These points automatically redeem themselves each time the user accumulates a total of 2,500. The points are transferred to an Apple or iTunes gift card that is worth $25.
Most cash back rewards cards offer a points system that is much more flexible than those offered by the Apple Credit Card. And, they don’t have any redemption minimums to comply with either.
Consumers who don’t like the idea of their points or rewards being locked up until they reach the maximum amount of 2,500 may not be a big fan of the Apple Credit Card.
The reward rate for the Apple Credit Card is also below many other rewards cards available. Aside from offering savings on purchases at the Apple Store, there really isn’t a huge benefit to this rewards credit card.
The rewards really add up when you use the card to make a big purchase. Using it every day to pay at the pump or to buy a cup of coffee will only provide you with around 1% in rewards for each transaction. Therefore, the Apple Credit Card should not be used as your primary card for daily purchases.
No Interest Financing on Apple Products
One benefit that consumers like about the Apple Credit Card is the fact that it does offer no interest financing options if you want to use it to purchase an eligible Apple product. This is valid if the purchase is made within 30 days of opening your card account.
The Benefits and Features of the Apple Credit Card
While it shouldn’t be used as your primary credit card, there are still some advantages to having the Barclays Visa with Apple Rewards.
With this card, you receive points for every purchase that you make. Users receive 3 points for each dollar spent at either Apple.com or at their local Apple Store. They also get the same rewards when ordering from 1-800-MY-APPLE or the iTunes Store. Two points are rewarded for every dollar spent at restaurants, and one point for every dollar spent on any other type of general purchase.
Whenever you accumulate 2,500 points, a $25 Apple or iTunes gift card is automatically mailed to you. You can choose whether you want to receive an Apple card or an iTunes care when you apply for the Barclays Visa. This is the only way to use the rewards that you accumulate while using the card.
Details about the Barclays Visa with Apple Rewards
Along with earning rewards that you can use toward your favorite Apple products, you can also use the Apple Credit Card to finance your purchases at the Apple Store with no interest.
This special type of financing will only apply to purchases that you make at the Apple store within the first 30 days of opening your account. You do not get to choose how long the financing period will last. Instead, that fact is determined based on the final price of your purchase.
Here is a breakdown of the financing period based on the final cost.
Apple Credit Card users do not have to pay any interest on this type of special financing offer as long as they pay off their balance before the promotional period ends.
If you happen to be late on any of your payments or if you do not completely pay off your purchase in full, the interest will be charged to your account from the purchase date forward. At that point, the terms of the promotion are no longer valid, and the standard APR rates for the card will apply.
Comparing the Apple Credit Card to Other Similar Cards
Wondering how the Apple Credit Card compares to others with similar rewards? Here is some more information on some popular cards that offer similar rewards and rates.
The Apple Credit Card vs. Citi Simplicity Card
If you are interested in The Apple Credit Card because of the financing capabilities it has, the Citi Simplicity Card is another good choice. This card can provide you with the same flexibility all without the limitations on rewards. It has a long intro period with 0% interest on both your balance transfers and your everyday purchases.
You receive 21 months of 0% APR on your balance transfers with this card and 12 months of 0% APR on purchases. After the intro period, the ARP will be 15.99%-25.99%. If you require extra time to pay for that expensive Apple product that goes beyond what the Barclays Visa offers, this may be the better option for you.
The disadvantage to the Citi Simplicity Card when you compare it to the Apple Credit Card is that it doesn’t have a rewards program. Although the Apple Card doesn’t have the best rewards program around, it still provides you with an incentive. The Citi Simplicity card simply helps customers pay down their purchases, but there are no points or rewards involved.
The Apple Credit Card vs. Citi Double Cash Card
The Citi Double Cash Card is another option to consider if you are thinking about applying for the Barclays Visa Card with Apple Rewards. It offers better features, although you can’t use it to get exclusive discounts on Apple Store purchases.
With the Citi Double Cash Card, you receive 1% cash back on all your purchases and an additional 1% cash back when you pay those purchases off. That type of reward structure can help many people who tend to wait around on paying off their expensive items to pay their balance in full much sooner than usual.
If you are looking for a way to finance a major purchase, the Citi Double Cash Card, however, may not be your best option. It doesn’t provide users with any type of zero percent advantages, aside from those that they receive on their balance transfers. Regular purchases come with a standard APR of 15.49% to 25.49%, which is variable.
Between the two, the Apple Credit Card is the only one that can assist you with paying for a large purchase in a fast and cost-efficient manner, even if you are limited to Apple Store purchases.
Remember that financing your Apple store purchase is not a good financial move for many credit card users. You should only choose to make a purchase like this if you know that you will have the money to pay off your card within the allotted time frame.
Is the Apple Credit Card the Best Option for You?
The Apple Credit Card is a great choice to use as a secondary card if you are a big fan of Apple products. You have the chance to receive gift cards in the mail that may be used at the Apple Store or to make iTunes purchases. The card may also be used to make everyday purchases anywhere Visa is accepted. You receive rewards for every purchase you make and get the highest rewards when you purchase something directly from Apple.
While the card is a decent rewards card that has plenty of benefits to offer, it shouldn’t be used as your primary credit card. The rates are too high and the rewards too limited for you to really benefit from using this card for your daily purchases. If you are looking for a good rewards card to use as your primary credit card, be sure to take these factors into consideration first before applying.