Marcus by Goldman Sachs

The best Apple Card benefits are rewards of up to 3% cash back on purchases, $0 fees, easy integration with Apple products, and the possibility of low APRs. Also, the Apple Card is made of titanium and doesn't have a card number on it, which makes it less susceptible to fraud and gives it a sleek look.

The Apple Card's benefits don't include many things traditionally offered by other credit cards, such as travel insurance, rental car insurance, purchase protection or extended warranties. But issuers have been cutting down on those benefits in recent years, anyway.

Here are the best Apple Card benefits:

• Lots of cash back:
  Purchases made with this card give you 2% Cash on all purchases using Apple Pay (1% for purchases made with the physical card), 3% on purchases made directly with Apple, including at Apple Stores, on the App Store and for Apple services, and on purchases made at select merchants (like Exxon, T-Mobile, Nike, Uber and more).
   
  Plus, unlike other credit cards, the Apple Card offers its cash back on a daily basis. So, the day a purchase processes, the cash back will appear in your account. You can use cash back to make purchases with Apple Pay, pay your credit card bill, or make a transfer to your bank account.
• No fees:
  The Apple Card has a $0 annual fee. It also has a 0% foreign transaction fee.
• Potential low APR:
  Depending on your overall creditworthiness, the interest rate that you're assigned could be anywhere from a low of 11.24% (V) to 22.24% (V) at the most. The average credit card offer currently has a regular APR of roughly 18%.
• Equal monthly payment financing:
  This card has an introductory purchase APR of 0% for 6 - 24 months after account opening. Once this intro period expires, any remaining balance will be subject to the regular APR of 11.24% - 22.24% (V).
• Integration with Apple products:
  The Apple Card is integrated with Apple Pay and the Wallet App, allowing you to easily track your purchases as well as use Face ID or Touch ID to authorize purchases. You can make purchases using your phone when you don't have your card on hand, as well.
• Virtual card numbers:
  You can use the Wallet app to generate virtual card numbers to further protect yourself from fraud while shopping online.
• Metal card:
  The Apple Card is made of titanium, giving it a sleek, prestigious look that's in line with Apple's brand.

While the Apple Card's benefits don't include some traditional perks, the card does provide a lot of useful features that make it a worthwhile addition to your wallet – if you love Apple products and services.  

The only way to apply for the Apple Card is through the Wallet app on an iOS device, such as an iPhone or iPad. Other than making you sign in to iCloud, the application itself is pretty similar to any other credit card application. Applying should only take a few minutes.

How to Apply for the Apple Card:

1. Update your Apple device to the latest iOS version.
2. Make sure there is no freeze on your credit report.
3. Sign in to iCloud and open the Wallet app on your device.
4. Tap the “Add” button (a plus sign), select the Apple Card, and click “continue.”
5. Fill in the application with your name, date of birth, phone number, address, last four SSN digits, citizenship status, and income.
6. Scan your driver's license or government-issued photo ID if prompted. Only some applicants will be asked to do so.
7. Accept the terms and conditions and submit your application.
8. Wait for a decision from Goldman Sachs, the Apple Card's issuer.

If you are approved for the Apple Card, which should happen right away, you will see an initial credit limit and APR. You can choose whether to accept or reject the offer. If you accept, there will be a hard pull of your credit. Otherwise, there will not be a hard pull, but you will not get the card. Assuming you're approved for the Apple Card after applying, you'll see the card in the Wallet App and Apple Pay right away. You can use it to make purchases even before the physical card comes in the mail.

The Apple Card's credit score requirement is “good”. While it's possible to be approved with a lower score due to a high income or other positive factors, it's best to not take the risk.

It's good to note that the Apple Card credit score requirement is comparable to that of similar cards on the market. Other $0 annual fee cash back cards, such as the Capital One Quicksilver Cash Rewards Credit Card and Chase Freedom Unlimited®, also require good credit at a minimum.

But an applicant's credit score isn't the only factor that plays a part in approval for the Apple Card. Many other factors are taken into consideration like your income, existing debts, recent credit inquiries and more. Checking your credit score before applying is always a good idea, as is looking over your credit report to make sure there are no errors or blatant negatives that you need to fix.

The Apple Card interest rate is 11.24% - 22.24% (V). Each cardholder's APR is selected from that range based on overall creditworthiness.

The minimum interest rate on the Apple Card is quite low. Many comparable cash back cards have interest rates that start at 15% or higher. But applicants generally need excellent credit and a high income to have a shot at scoring the card's minimum interest rate.    

It's important to note that the Apple Card interest rate is variable, meaning that it can go up or down with the market. The fluctuations are typically very small, though.

Keep in mind that the Apple Card interest rate for purchases is the only interest rate that the card has. The card does not offer any introductory rates on purchases or balance transfers (and does not allow balance transfers at all). There's no penalty rate for late payments, though you shouldn't pay late anyway because it will lead to credit score damage. In addition, there is no special APR for cash advances because cash advances are not allowed at all.    

You cannot get an Apple Card cash advance because the Apple Card does not allow cash advances at all. While you can't get cash from this card, you can use the Apple Card for purchases wherever cards on the Mastercard network are accepted.

The fact that Apple Card cash advances are not an option might actually be a blessing in disguise. Cash advances are very expensive, thanks to a cash advance fee and a separate cash advance APR that apply as soon as you withdraw the cash. There may also be ATM-owner fees, depending on where you make the cash advance.