The changes I’d like to see in an Apple Card revamp

With Apple Card approaching 5 years old, I think it’s about time that we see some changes with Apple’s first credit card. After all, Goldman Sachs is set to exit the Apple Card partnership within the next year, so Apple will have to find a new partner bank. In that process, it’s likely that we’ll see a couple changes with the credit card.

Apple Card as it stands today

Apple Card launched in 2019, and at the time, it was a pretty decent credit card. It offered 2% cash back on all purchases with Apple Pay, and 3% cash back on Apple purchases. Apple provided a clean interface, making it easy for people to understand how their credit card actually works. The card also offered no late fees or foreign transaction fees, which is still uncommon for no annual fee cards, even today.

Over time, Apple has added a couple things to make the card more appealing, such as 0% APR financing on Apple products, as well as expanding 3% cash back to some partner merchants. They’ve also had various promos from time to time, such as one providing 6% back on EV charging for a limited time. However, with the rapidly evolving credit card landscape, I think Apple should add even more to the card.

Expansion of 3% Daily Cash

Right now, Apple Card offers 3% back at Apple, Ace Hardware, Duane Reade, Exxon, Mobil, Nike, Panera Bread, T-Mobile, Uber, Uber Eats, and Walgreens. While these partner merchants do help you earn more cash back on some everyday purchases, there’s a lot to be desired with this list.

For one, Apple has no sort of grocery store partners. Given the fact that the Apple Card has been responsible for over $1 billion in losses for Goldman Sachs, I don’t expect Apple to add any sort of widespread categories that cover all grocery stores. However, it’d be nice to see some sort of coverage in this field. They could partner with a nationwide store like Whole Foods or Trader Joes, or even throw in something like Instacart for people who prefer getting their groceries delivered.

A number of popular credit cards offer rewards on your groceries, so it’d be nice for Apple to offer something to compete, especially since groceries are a big category of spend for most people.

Uber Eats is a nice partner to represent dining, since you can set the app to pickup and effectively order any food at normal restaurant pricing. If Apple could get some additional partner restaurants included on the list that’d be great, although I wouldn’t expect much.

4% Daily Cash at Apple

Since the Apple Card launched in 2019, some credit cards from American Express, Bank of America, and U.S. Bank have added 3% back (or more) for online retail purchases, allowing you to earn the same 3% at Apple; as well as many other online stores, such as Best Buy and Amazon.

For that reason, I think it’d be great if Apple gave customers more than 3% back on Apple. After all, other store cards provide 5% cash back on their purchases, such as the Amazon Prime Visa. I think 4% would be a respectable rate, especially given how expensive some Apple products are.

Better rewards with the Titanium card

Apple went out of their way to create one of the most premium physical cards on the market. They made it out of solid titanium, and it looks very clean – with no numbers or unnecessary text on the card. It just has your name, alongside the Apple, Mastercard, and Goldman Sachs logos. Despite this fact, you aren’t really incentivized to use this physical card.

Apple Card earns 2% cash back with Apple Pay, and only 1% cash back when using the physical card, which is pretty much bottom of the barrel when it comes to rewards credit cards. I’d still expect Apple to want to incentivize people to use Apple Pay, but it would be nice if the physical card earned 1.5% cash back when you use it. It’s not the best in the game, but it’d undoubtedly make the card more appealing, especially if you often visit places that don’t accept Apple Pay, like Walmart.

Better approval process for beginners

It’s often stated that Apple Card is a great credit card for those starting off, primarily because of the clean design in the Wallet app. Apple Card makes it easy to understand exactly how much interest you’ll be paying, and sorts your spending into different categories to help with budgeting. In theory, this would prevent credit card beginners from getting themselves into bad debt. However, it doesn’t actually work like that in practice.

In reality, it’s quite hard to get approved if you’re younger, even if you have good income. Most likely, if you’re a college student, you’ll end up getting denied for the card.

Goldman Sachs clearly wants people with a decent amount of established credit, but I think that’s sort of counterintuitive to everything about the Apple Card. People with established credit already likely understand how to avoid interest charges and to pay their cards on time.

Even if Apple Card only gave smaller $200-1000 limits to younger users with a lack of credit history, it would be great to see the card become beginner friendly. That way, teens and young adults would be able to build their credit through Apple.

How do you feel about the Apple Card? Are there any other changes you’d like to see? Let us know in the comments below.

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