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The Apple Card is now offering a limited-time welcome bonus worth $50 after eligible spending at Walgreens

Apple and Walgreens partnered for a limited-time welcome bonus for new Apple Card holders. Here's how you can earn it.

Apple

When the Apple Card launched last summer, it created a buzz with its Daily Cash program and sleek titanium card design. But the card didn't offer a welcome bonus, which is something that's a fairly common perk for cash-back credit cards.

However, Apple and Walgreens have partnered to offer new Apple Card users a welcome bonus worth $50. New cardholders who open an account during June can earn $50 in Daily Cash (which is essentially cash back, but issued at the end of every day) after they spend at least $50 at Walgreens in the first 30 days of opening an account. This offer is valid now through June 30, 2020.

In order to take advantage of this promotion, download the Walgreens iOS app, click on "Weekly Ad & Coupons" and scroll to the bottom to find the offer stating "Get $50 with a new Apple Card." From there you can see the full offer details. When you click "Apply now," you will be redirected to the Wallet app to submit an application.

This welcome bonus builds upon the existing Apple and Walgreens partnership that allows cardholders to earn 3% cash back on goods or services purchased at Walgreens and Duane Reade stores, on the Walgreens app and on Walgreens.com. In order to earn 3% back, you need to pay with Apple Pay, which can be done both in-store and online.

Plus there's another limited-time offer that allows Apple Card holders to use their physical card to earn 3% back at Walgreens drive-thrus through July 31, 2020. That's a higher rewards rate as physical Apple Card transactions typically earn 1% back.

Beyond Walgreens purchases, Apple Card holders earn 3% cash back on goods or services purchased directly from Apple (including Apple retail stores, the Apple online store, the App Store, iTunes, Apple Music and other Apple-owned properties) on Uber and UberEats, in T-Mobile stores and at Nike — all when using Apple Pay. Other Apple Pay purchases earn 2% cash back and all other physical card purchases earn 1% cash back.

If you're looking for a new credit card, the Apple Card provides competitive cash back — just make sure you primarily pay with Apple Pay and not the physical card whenever possible to maximize rewards. Many retailers provide the option to use Apple Pay both in store and online, so there's plenty of opportunity to earn 2% back. Cardholders can also benefit from no fees whatsoever, allowing you to avoid annual fees, foreign transaction fees and late payment fees.

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Information about the Apple Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

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