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When most people think of retail store credit cards, they imagine sky-high interest rates and the inability to use the card outside of that individual store. The Barclaycard Visa with Apple Rewards, also known as the Apple credit card, is very different from this perception. While you might be rewarded the most for shopping inside an Apple store, it’s actually issued by Barclaycard, and it’s a Visa card. That means you can use the card anywhere Visa is accepted.
Special Financing on Purchases
If you are planning to purchase a new Apple computer, or any other expensive Apple product, and would like a little extra time to pay it off, then this would be a great card to use. It offers up to 18 months of special financing on all Apple purchases, made within 30 days of opening your account. Here is the breakdown on current special financing as of 12/1/2019:
- 6 months on purchases below $499
- 12 months on purchases $499 to less than $999
- 18 months on purchases $999 and over
According to the Apple Card site, with this promotional financing offer, you will receive no interest/deferred financing for the time period mentioned above. It’s important that you make timely payments and have the purchase paid off by the end of the promotional period. If there is still a balance, or you are late with a payment, then interest will be assessed, back to the date of purchase. If you have purchased an expensive computer, then this could end up making it a much more expensive purchase than you had budgeted. The standard purchasing APR will be a variable 12.49% to 23.49% depending on your creditworthiness (rates as of 12/18/2019).
A strategy that works for most people is to take the total amount due and divide it by the number of months you have to make payments. This is the total amount that you need to pay each month to pay off the item before the end of the promotional period. For example if your computer cost $1,000 and you have 18 months to pay it off, you need to pay at least $56 per month. Add this amount to your monthly household budget and you will keep yourself on track.
Earning & Redeeming Rewards
When you use your Apple credit card for purchases at Apple stores, Apple.com or iTunes, you will receive three points for every $1 spent. Anytime you use the card at restaurants you will receive two points per $1. All other purchases will earn one point per $1. When it comes time to redeem your points, you can do so for Apple or iTunes gift cards. For every 2,500 points that you earn, you will receive a $25 gift card.
You may receive a Visa Signature card. As a Visa Signature cardholder you will receive 24/7 concierge service. If you need help booking travel plans or need a dinner reservation, you can call and have them take care of it for you. You will also receive an extended warranty on purchases you make using your card.
As mentioned earlier you can receive up to 18 months of no interest/deferred financing on Apple purchases. Balance transfers carry a fee of 3% of the transaction or $5, whichever is greater and transactions outside the United States carry a 3% fee. There is no annual fee.
Alternatives to the Apple Credit Card
The Apple credit card offers a lot of opportunity to anyone that frequently spends a lot of money on Apple products. Unfortunately, it has one big miss. Unlike a lot of retail store credit cards, you will not receive coupons that can help you save money on purchases.
If you frequently spend a lot of money with Apple, then the Apple credit card is probably a no brainer. The 3 points per dollar you will receive on purchases is great, and the gift cards could help you save on your regular Apple or iTunes purchases. However, if you are just an occasional shopper, then it might be best for you to look for a card that will earn higher than just one point for every dollar you spend on everyday purchases.
Blue Cash Everyday® Card from American Express
- Earn a $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
- 3% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
- 2% Cash Back at U.S. gas stations and at select U.S. department stores.
- 1% back on other purchases.
- Low intro APR: 0% for 15 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%.
- Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee and no interest.
- Cash back is received in the form of Reward Dollars that can be redeemed for statement credits.
- No annual fee.
- Terms Apply.
Card Details +
Another card that is perfect for everyday purchases is the Blue Cash Everyday Card from American Express. This card has an introductory offer of 0% for 15 months on purchases. The ongoing APR is 13.99%-23.99% Variable. You earn unlimited 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases. This is great for anyone that doesn’t want to keep track of quarterly bonus categories.
At publishing time, the Blue Cash Everyday Card is offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for this card. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).
Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.