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This is a really, really mediocre card as far as rewards go. No sign up bonus (nearly unheard of these days), might average 1.2% cash back if you use Apple Pay
by tempsy 7y ago
This is a really, really mediocre card as far as rewards go. No sign up bonus (nearly unheard of these days), might average 1.2% cash back if you use Apple Pay a lot (with exception of maybe a business buying a lot of Apple products - in which case should be spending on a business card). There are a few no-fee cards I can think of that give at least 2% on all purchases - most notably Citi's Double Cash Back card.
The only reason why I could see someone wanting this card is the novelty.
- arnvald 7y agoBanks offer sign-up bonus in order to bring more customers and they hope that after a year these customers will stay and start paying annual fee and keep using the card. I'm sure Apple feels they will get huge interest in their card even without a signup bonus, so there's no need to offer it.
- tempsy 7y agoRight - it's a confusing strategy IMO. In general wealthier people who probably don't revolve credit (e.g. pay in full each month) want premium rewards, which this doesn't offer at all, so my hunch is that this will appear to more middle income/lower income individuals who pay interest (cost of interest negate any rewards), which is a bit strange since the branding/marketing and Apple (+ Goldman Sachs) generally target wealthier individuals.
- Someone1234 7y ago> The only reason why I could see someone wanting this card is the novelty. Or privacy?