Apple Card review: Ideal for Apple fans who want to save on tech purchases

Core Insights - Apple has launched its own credit card, the Apple Card, in partnership with Goldman Sachs, aimed at enhancing customer loyalty and providing financial services to its users [1][2] Product Overview - The Apple Card has no annual fee and offers a cash-back rewards structure, with 3% cash back on Apple purchases and select merchants when using Apple Pay, 2% cash back on all Apple Pay purchases, and 1% cash back on other purchases [4][18] - The card allows users to save cash back in a high-yield savings account, providing an opportunity to earn interest on rewards [5][10] - Users can opt for Apple Card Monthly Installments to make large purchases interest-free, while still earning cash back [6][11] Rewards Structure - To maximize rewards, users are encouraged to use Apple Pay, which is accepted at 85% of merchants in the U.S. [12][19] - The card's rewards are issued as daily cash back, which can be redeemed in various ways, including direct deposits into a savings account or Apple Cash [10][37] Benefits and Limitations - The Apple Card offers simplicity in earning and redeeming rewards, with no foreign transaction fees and no promotional APR [18] - However, it lacks additional benefits found in other credit cards, such as travel insurance or bonus reward categories, which may limit its appeal to some consumers [13][18] Target Audience - The Apple Card is particularly suited for users who frequently shop with Apple and prefer a straightforward cash-back rewards system [11][12] - It may not be the best option for those who prioritize travel rewards or have existing cash-back cards that better align with their spending habits [14][13]