Apple's slow but steady expansion into financial products hit another milestone earlier this year with the launch of Apple Savings, the tech giant's entry into the market of high-yield savings accounts. But to open an Apple Savings account, you'll first need an Apple Card. If you want to add Apple's credit card to your wallet, here are some of the requirements you should meet when applying.
What credit score do you need for the Apple Card?
When you apply for an Apple Card, Goldman Sachs will review your FICO® Score based on the information on your TransUnion credit report. While some people have been approved for the Apple Card with subprime or fair credit scores (under 670), you'll have an easier time getting approved with a good to excellent score. Plus, your credit score factors into your interest rate and credit limit. A low credit score can reduce your credit limit and increase your interest rate.
FICO® scores range from very poor to excellent and fall into these categories:
- Very poor: 300 to 579
- Fair: 580 to 669
- Good: 670 to 739
- Very good: 740 to 799
- Excellent: 800 to 850
Because your TransUnion credit report is reviewed when you submit an Apple Card application, it's a good idea to take a look at that report in advance. This gives you a chance to dispute inaccuracies in your report before an application. Your credit score is based on the following:
- Payment history (35%)
- Amounts owed (30%)
- Length of credit history (15%)
- New credit (10%)
- Credit mix (10%)
Other requirements for the Apple Card
To qualify for the Apple card there are specific basic requirements you'll need to meet, including:
- Be at least 18 years old
- Be a U.S. citizen or resident and your U.S. address cannot be a P.O. Box.
- Have two-factor authentication setup for your Apple ID.
You may be required to verify your identity with a government-issued photo ID, and if you freeze your credit reports, you'll need to schedule a thaw of your TransUnion report before applying.
Apple lists several factors that could cause your application to be denied, including having a low credit score (under 600). But a healthy credit score may not be enough to get you approved for the Apple Card because other factors are considered, including:
- How frequently do you apply for credit? Are there a large number of hard inquiries on your credit report?
- Are you heavily in debt?
- Is your income enough to make payments on your debt?
- Have you recently had a bankruptcy, had property repossessed or had other negative actions taken against you?
- Are you currently behind on your bills or have you been behind before?
Apple Card benefits
Apple Card
Rewards
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, at Walgreens and Duane Reade stores, on the Walgreens app and on Walgreens.com, in T-Mobile stores, at Nike, at Exxon and Mobil stations and at Panera Bread, 2% cash back on Apple Pay purchases and 1% cash back on all other purchases
Welcome bonus
None
Annual fee
$0
Intro APR
None
Regular APR
19.24% to 29.49% variable
Balance transfer fee
None
Foreign transaction fee
None
Credit needed
N/A
Terms apply.
The Apple Card is a straightforward cash-back credit card. It earns up to 3% back on purchases and the rewards are deposited daily, which is a departure from most cards that issue rewards after the close of the billing cycle. The cashback you earn can be deposited directly into an Apple Savings account or to an Apple Cash card, which you can access through Apple's Wallet app.
Cardholders earn unlimited 3% cash back at Apple, including services such as Apple Music or Apple TV+. You can also earn 3% on select transactions at these merchants:
- Ace Hardware
- Duane Reade
- Exxon
- Mobil
- Nike
- Panera Bread
- T-Mobile
- Uber
- Uber Eats
- Walgreens
When you use your Apple Card through Apple Pay, you'll earn 2% back and all other purchases earn 1% back. The Apple Card also has no annual fee, no foreign transaction fees, no over-limit fees and no late fees.
The card typically doesn't have a welcome bonus and the bonus cash-back categories are fairly restrictive. So most people are likely to be better off with a more valuable no-annual-fee credit card, like the Chase Freedom Unlimited® or Citi Double Cash® Card.
Chase Freedom Unlimited®
Rewards
Enjoy 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 3% cash back on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
Welcome bonus
INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Annual fee
$0
Intro APR
0% for the first 15 months from account opening on purchases and balance transfers
Regular APR
20.49% - 29.24% variable
Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
3%
Credit needed
Excellent/Good
Member FDIC. Terms apply.
Read our Chase Freedom Unlimited® review.
Citi Double Cash® Card
Rewards
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24
Welcome bonus
Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Annual fee
$0
Intro APR
0% for the first 18 months on balance transfers; N/A for purchases
Regular APR
19.24% - 29.24% variable
Balance transfer fee
For balance transfers completed within 4 months of account opening, an intro balance transfer fee of 3% of each transfer ($5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($5 minimum) applies
Foreign transaction fee
3%
Credit needed
Fair/Good/Excellent
See rates and fees. Terms apply.
Read our Citi Double Cash® Card review.
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Bottom line
It's possible to get approved for the Apple Card with a credit score under 670, but your chances improve as your credit score increases. And an excellent credit score doesn't guarantee your approval, other factors are considered, such as income and payment history.
The Apple Card earns a solid rate of return on Apple purchases and at a limited number of merchants. But overall, it's a middle-of-road cash-back card compared to other cards in its class.
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