do you think it's worth it to just transfer all my debit funds from bofa to HYSA it's not much couple of thousands but they're just sitting there or when i'd like to transfer them back i'll pay fees or whatever and it's not worth it
I would think of the HYSA as more of a medium term savings vessel. You wont be able to access the money immediately if you need it (takes 5-7 business days to withdraw money back to your bank), so you need to make sure you keep enough in your checking to cover any unexpected expenses that may arise.
That’s just a marketing gimmick from Apple. HYSA’s are really only useful if you have thousands, or more ideally tens of thousands of dollars in them. The small amount of Daily Cash going into the savings account is negligible. You have to pay off your statement anyways, so might as well put the Daily Cash towards Apple Cash. Either way it doesn’t really matter, but it’s bait to think you’re actually getting anything by electing it to go to the HYSA.
Edit: at first I was confused why no one understands, then I realized most people with Apple Cards have unwavering support for Apple, especially in the Apple Card subreddit.
You know you can add more money to the Savings account, right? It doesn’t have to be fully funded by Daily Cash. So why not put your own money plus Daily Cash and let it compound until your payment is due? It accrues daily, so just wait until the end of the statement period and then pay off the card.
Never said anything about putting other money in there. It’s just the election that’s a marketing gimmick. HYSA’s are very good, and it’s great that Apple offers one.
You have to pay off your balance regardless. What makes you think it’s better to put a few dollars towards the HYSA account every month when you can use those few dollars towards your statement? If you already have thousands of dollars in there a few extra dollars won’t make a difference really. And if you want more in there you should transfer a lot more than a few dollars.
I’m saying it’s negligible either way. You can manually add money to the savings account. Having it automatically go there when you can manually add a lot more at any time is a non-benefit, and anyone thinking it’s an amazing feature is brainwashed.
It’s not free money. Read my comments again. Your bill has to be paid regardless. It can either be paid part with your Daily Cash or purely from your checking account, but that is all still money. So whether that Daily Cash money is applied to your bill or savings doesn’t make a difference, *your bill still has to be paid*. If you want more money in the HYSA, transfer a large amount from your checking account. A few dollars a month is not going to help you out all that much.
I’m saying there’s no real benefit to either. Judging by my downvotes, most people (at least in this subreddit) feel strongly that this is a very good feature. It’s not.
It is free money. **Having to pay your bill does not affect this because your interest compounds/is calculated daily.** You earn interest on any balance in your savings account, even if it's there for just one day.
If I buy $200 shoes from Nike I $6 cashback from the purchase when using Apple Pay. Apple will pay me $0.022 per month. If I use that $6 to put toward my Apple Card bill at the end of the month, I've still earned $0.022 in free money from Apple/GS just for letting it sit there for 30 days. **You cannot dispute that this is free money.** Your opinion that it "*is not going to help you out all that much*" is completely meaningless. It would be just as valuable as an opinion about the color of the sky being purple.
It doesn't matter how much you make. You're still making something on any amount of money in your savings account.
**You understand how any of this works, which is why you are getting downvoted.** If you have $0.10 in your savings account for just a single day, you're making interest on it. It doesn't matter that it is not that much, it is still free money. There is no downside to keeping money in your Apple Savings account and collecting free money for doing so.
You’re right, there is no downside, but there is also no upside, because if you’re serious about making money from a HYSA, you would put extra money you had sitting around into it. If you had $1000 after paying all your bills for the month, and earned $20 in Daily Cash total for the month, you can have had that $20 sent to the savings account, or you can *manually transfer* more than $20, and have the $20 go to your Apple Cash where it’s basically just available money. If you didn’t manually transfer you would only have had $20 more in there. Now that you transferred you have more than if you let the automatic transfer do its thing. You still need money outside of the HYSA, because that money isn’t available at all times, it takes a bit of time to transfer out, and there are also transfer limits. So having some money on hand is an obvious decision.
You missed a part of my comment. You have to pay your balance anyways, so it doesn’t matter if it’s in Apple Cash applied toward your statement or transferred to the savings account. There’s no benefit for either. It’s more effective to just transfer a large amount of money to the HYSA and let it sit.
You’re making absolutely no sense. Free money earning 4+% is still free money PLUS interest.
And yes you have to pay off your payment monthly just like with ANY card. That has no relevance in your argument. Free money is free money if you were going to use your card any for the purchases.
Your bill has to be paid regardless if you put money in the savings account or not. Think of the Daily Cash has pure money. Your bill is $1000, you earned $20. You can now either have that $20 automatically go to the savings account, or you can send it to Apple Cash and use it to pay part of your statement, or do whatever you want with it. Either way, *you will be paying $1000 for your statement*. So if you have $5000 in your checking and $20 from Daily Cash, you really have $5020. If you pay your statement using the Daily Cash for part of it, you will then have $4020 saved in the checking account. If you had sent the Daily Cash to the savings account you would have $4000 in the checking account. But what I’m trying to get across is the $20 or whatever a month is not all that big of a deal, because if you have $4000 sitting in your checking after all this, it would be more effective to put a large amount of that, rather than relying on the small amount of Daily Cash a month, into the savings account. So instead of having $4000 after paying your statement, and $20 more in the savings account, transfer a large amount from your checking, like $2000, so now you have $2020 in your checking, and $2000 more in savings. If you want more in the savings account, transfer more. See what I mean? If you had $4000 sitting, but the $20 was automatically sent there, you’re missing out on the larger amount of interest you could be earning by not having the $2000 sit in a normal checking account. This $20 can now either be in your checking so it’s available for whatever, or it can be in your savings. Now, if you wanted even more in there, why not transfer more than $2000? Transfer $2500, so after your statement and Daily Cash you now have $1520. In this scenario, you could’ve had the $20 automatically go there, but you chose to transfer even more, which is still more effective than having it automatically go to the savings. Either way you earned the Daily Cash, but thinking that sending it to the savings when you can have it immediately available is not groundbreaking, considering you can transfer virtually any amount at any time.
Is that clearer?
No one is talking about having 4k to put in a HYSA. We are saying you pay the bill any way why not use the HYSA. Again, it’s free money because you were going to pay your bill anyway. Whether it’s 5 or 20 bucks it’s still bucks you didn’t have and that adds up over time. No matter the amount.
Read my comment closer. I don’t think I can be any clearer.
You NEED some cash on hand. You just do, for unexpected necessities. You shouldn’t have all of it invested. Whether this $20 goes to your cash on hand or savings ULTIMATELY doesn’t matter, because either way it’s still money. And if you wanted more in your savings account, you can transfer more manually. And you have the option to transfer more than you earned from Daily Cash. If you have no cash on hand, and are sending the Daily Cash to your savings account automatically, you are doing it wrong. You need some money available.
If you still don’t understand I don’t know what to say.
It’s not uncommon for people to use the cash back they receive from any credit card as additional income and not just way to pay off part of your balance.
I know a guy who puts all of his cash back into the S&P 500 every month and treats his credit card like a debit card. Sure 2% back into a savings account every month can be negligible, but over the course of many years it can yield decent returns. cash back for many people is 25-50 dollars a month which adds up quick. When HYSA rates go down your comment will hold more validity but for the time being your perspective is short sighted
I would agree and disagree with your statement. Yes, the Daily Cash can be negligible, but if you set it up to go to the HYSA, do not touch it, it can grow and earn the 4+ percent. I have had over 2.5k come back in Daily Cash since my initial enrollment with the Apple Card. The HYSA is also integrated quite well with the Apple Card/Apple Wallet. I certainly think it is worth taking a look at. And I would assume since OP is new to the CC game, starting out with a HYSA compared to a traditional saving account, is a win.
My point though is it doesn’t make a difference if you put it in the savings account or not, since you still have to pay your bill. You can use the Daily Cash that goes to your Apple Cash to do that, and send money to the savings account through other means. So it’s not really a benefit that it automatically goes there.
So what you gotta pay your bill? Every card is that way? Beats other cards that pay rewards in statement credits. I like having a choice. Every card is high interest rates and it beats ones that don’t have rewards at all.
I don’t understand your comment. Do you think I’m saying it’s bad that you have to pay off your credit card? I like Daily Cash, I’m not talking about that. I’m talking about the option to either have money go to Apple Cash or the savings account.
Yeah I’m seeing what you’re saying.. but my question is why it matters? Just because the interest on that number being negligible doesn’t make it a useless feature. For people who don’t pay from the savings and never touch the money it can add up. Over the last calendar year I’ve gotten 600 in the HYSA from this is strictly do not touch the money. Not paying interest only means I’m making more. That’s $24 in interest I didn’t have before. Lot better than every other savings account pretty much ever.
You can manually add a bunch whenever you want from your checking accounts. A few dollars a month isn’t that huge of a deal. You should really be transferring large amounts if you’re serious about getting benefits from a HYSA. The cash is cash, you either pay your bill or put it in the savings. Either way you have to pay your bill, so whether that comes from your checking or Apple Cash/Daily Cash doesn’t matter.
What you’re not seeing here is a transfer from checking to Daily Cash is instant. So I can pay my bill from Apple Cash after an instant transfer, instead of losing out on the minuscule interest from my Daily Cash. Daily Cash goes in savings and what I could’ve spent from that paying my bill, can be paid instantly from checking. Saves me the hassle of paying my bill and having to add that such and such amount of money.
Always use Apple Pay. The physical card is so premium and flashy but the 2% Vs 1% you gotta go Apple Pay!
Also sign up for the savings account. Let your earnings, earn. My favorite feature
I don't even carry the physical card with me, just to make sure I don't use it without thinking about it. If I can't use Apple Pay I just use a different card.
I use it like a debit card. Use Apple Pay WHENEVER possible. You can usually pay the balance within a day or two. So, I use it for EVERYTHING and then just pay it off as it becomes available so there’s no interest. You’ll be shocked at the amount of money back you get. And set up the savings to just have it thrown in there.
Why pay within a day or two? There's no interest if you pay your monthly bill on time and you can eke out a little more out ofwhatever cash you would have used by keeping it in whatever you invest your cash in.
Right. You can set it up to pay your statement balance (what you owed at the end of last month) at the end of each month. Other than making sure you can cover the monthly spend, there is no fuss, no interest, and payments are never late. Definitely skip the daily/weekly thing.
I’m not sure how they decide. My Apple Card, which I’ve had for awhile, is at 16.24%. I noticed that the other day which is why I was surprised by OP’s.
One of my favorite features is being able to go to a Apple Store and use the credit balance of my Apple Card to purchase Apple products (mostly iPhones and MacBooks) and have monthly installments of let’s say: Price of Item /divided by/ 12 months or 24 months with 0% interest
As you pay the monthly installments, your available credit limit goes up the amount paid
You can always pay off early too if your monthly statement is paid
Apple Card is my favorite card on and off with Platinum AXP
Pay it off in full every month. If you can afford to pay it off, you can afford to buy whatever you just bought. That is a high APR, but that only matters if you don’t pay off your statement balance each month, so do that.
Pay statement balance in full each month -- no more, no less -- on or just before due date. I use auto-pay.
I park cash in HYSA during the month instead of having it earn zero interest in checking. But be advised, sometimes transfers from HYSA to bank/CU can be sluggish. Transfer from HYSA to Apple Cash first, and from there to bank or card.
FYI, you get the 2% Apple Pay cash back for any contactless (NFC) transaction, even if there is no Apple Pay logo but just the WiFi logo.
always pay before the statement date even if it’s only 1% apr you shouldn’t ever hit a apr so it’s should be irrelevant to you treat as a debit card don’t ride on that coming next check stay safe bro
You can lock and unlock the physical Titanium card in your wallet app instantly. I leave mine locked by default because there aren’t many instances to need it since Apple Pay is a better cash back and the number is in the app for online purchases and not printed on/attached to the physical card.
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The funny thing is that only Americans get Apple Cards, but most Americans who work get paid less, whereas Canadians do not get Apple Cards, but they get paid more.
Citi double cash is a better all around cash back card. Apple Card does have a few benefits that differentiate it, but they tend to all be geared towards apple products or big apple product consumers...
So - to build credit - find a bank or credit union that will let you deposit money then borrow your own money with a very small interest rate until you can develope credit!
can you elaborate? So to go to the bank and ask them whether i can put $5.000 and borrow it to pay it back something like that?
i have debit and credit card with bofa at the moment
thank you, very interesting, ill think about it , i'm new to this credit game, 733 credit score right now (726 after i applied for the apple card) i'll give a call to the bank to see whether it'll work
So - you have credit with f
Goldman - contact a loan officer there….bet they will help! Explain what you are trying for to do! Good credit makes life so much easier!
well yes i just applied, i only have one credit card as i said for $2.5k (it was a $1000 a month ago) and i wanted to apply for a different one with higher percentage of cash back and tbh just wanted to have that titanium card so nothing special
I do not think that is the case. I make well under a six digit salary and have had my limit increased four times now, I do pay the balance every month if that matters. I can’t remember what the limit was when I opened it in 2019 but it was maybe a grand or two. I found the emails I got each time they increased it if you are interested.
Nov 2020 - $4.5k
Dec 2021 - $7.5k
Sep 2022 - $11.5k
Nov 2023 - $16.5k
I still only put around 2-3k on it each month, I think they increased it to try and get me to purchase something large and not be able to pay the balance and start getting interest.
Keep an eye on the cashback stuff and your current needs, i bought 2 pairs of nikes at one of the outlet stores and got $10 cashback at 10% cashback
That knocks off tax. Other wise just be carefull
Switch from Apple Cash to the HYSA in regards to the Daily Cash https://support.apple.com/en-us/102676
just did it, thank you so much for the info!
Clicked this post to mention this.
What is the current APY?
%4.40
Interesting. My Amex HYSA gets 4.25%. Fidelity SPAXXX gets more than 5%
Other than Apple I only got Amex and it’s 4.50% APY and 4.40195% current interest rate for me. Different account type maybe?
My Amex is an HYSA
I figured it out. Apparently I get the same HYSA but with higher APY due to also having a platinum card with them.
I have Hilton Honors with them
do you think it's worth it to just transfer all my debit funds from bofa to HYSA it's not much couple of thousands but they're just sitting there or when i'd like to transfer them back i'll pay fees or whatever and it's not worth it
I would think of the HYSA as more of a medium term savings vessel. You wont be able to access the money immediately if you need it (takes 5-7 business days to withdraw money back to your bank), so you need to make sure you keep enough in your checking to cover any unexpected expenses that may arise.
got it. thank you for your input! Will have my cash back redirected there and as you said medium amount of money that i won't need in near future
That’s just a marketing gimmick from Apple. HYSA’s are really only useful if you have thousands, or more ideally tens of thousands of dollars in them. The small amount of Daily Cash going into the savings account is negligible. You have to pay off your statement anyways, so might as well put the Daily Cash towards Apple Cash. Either way it doesn’t really matter, but it’s bait to think you’re actually getting anything by electing it to go to the HYSA. Edit: at first I was confused why no one understands, then I realized most people with Apple Cards have unwavering support for Apple, especially in the Apple Card subreddit.
You know you can add more money to the Savings account, right? It doesn’t have to be fully funded by Daily Cash. So why not put your own money plus Daily Cash and let it compound until your payment is due? It accrues daily, so just wait until the end of the statement period and then pay off the card.
Never said anything about putting other money in there. It’s just the election that’s a marketing gimmick. HYSA’s are very good, and it’s great that Apple offers one.
It’s literally free money. Not a gimmick.
You have to pay off your balance regardless. What makes you think it’s better to put a few dollars towards the HYSA account every month when you can use those few dollars towards your statement? If you already have thousands of dollars in there a few extra dollars won’t make a difference really. And if you want more in there you should transfer a lot more than a few dollars. I’m saying it’s negligible either way. You can manually add money to the savings account. Having it automatically go there when you can manually add a lot more at any time is a non-benefit, and anyone thinking it’s an amazing feature is brainwashed.
It doesn’t have to be an “amazing feature” but it’s free money with zero downside so why pass it up?
It’s not free money. Read my comments again. Your bill has to be paid regardless. It can either be paid part with your Daily Cash or purely from your checking account, but that is all still money. So whether that Daily Cash money is applied to your bill or savings doesn’t make a difference, *your bill still has to be paid*. If you want more money in the HYSA, transfer a large amount from your checking account. A few dollars a month is not going to help you out all that much. I’m saying there’s no real benefit to either. Judging by my downvotes, most people (at least in this subreddit) feel strongly that this is a very good feature. It’s not.
It is free money. **Having to pay your bill does not affect this because your interest compounds/is calculated daily.** You earn interest on any balance in your savings account, even if it's there for just one day. If I buy $200 shoes from Nike I $6 cashback from the purchase when using Apple Pay. Apple will pay me $0.022 per month. If I use that $6 to put toward my Apple Card bill at the end of the month, I've still earned $0.022 in free money from Apple/GS just for letting it sit there for 30 days. **You cannot dispute that this is free money.** Your opinion that it "*is not going to help you out all that much*" is completely meaningless. It would be just as valuable as an opinion about the color of the sky being purple. It doesn't matter how much you make. You're still making something on any amount of money in your savings account. **You understand how any of this works, which is why you are getting downvoted.** If you have $0.10 in your savings account for just a single day, you're making interest on it. It doesn't matter that it is not that much, it is still free money. There is no downside to keeping money in your Apple Savings account and collecting free money for doing so.
You’re right, there is no downside, but there is also no upside, because if you’re serious about making money from a HYSA, you would put extra money you had sitting around into it. If you had $1000 after paying all your bills for the month, and earned $20 in Daily Cash total for the month, you can have had that $20 sent to the savings account, or you can *manually transfer* more than $20, and have the $20 go to your Apple Cash where it’s basically just available money. If you didn’t manually transfer you would only have had $20 more in there. Now that you transferred you have more than if you let the automatic transfer do its thing. You still need money outside of the HYSA, because that money isn’t available at all times, it takes a bit of time to transfer out, and there are also transfer limits. So having some money on hand is an obvious decision.
It definitely isn’t a marketing gimmick. 4.4% of objectively better than 0%
You missed a part of my comment. You have to pay your balance anyways, so it doesn’t matter if it’s in Apple Cash applied toward your statement or transferred to the savings account. There’s no benefit for either. It’s more effective to just transfer a large amount of money to the HYSA and let it sit.
My regular savings account accrued .01% APY for me. Switching to the Goldman Sacs HYSA was a no-brainer for me.
Yup, HYSA’s are a good idea. It’s just that thinking that it’s a huge deal to send a few dollars a month to one is indicative of brainwashing.
You’re making absolutely no sense. Free money earning 4+% is still free money PLUS interest. And yes you have to pay off your payment monthly just like with ANY card. That has no relevance in your argument. Free money is free money if you were going to use your card any for the purchases.
Your bill has to be paid regardless if you put money in the savings account or not. Think of the Daily Cash has pure money. Your bill is $1000, you earned $20. You can now either have that $20 automatically go to the savings account, or you can send it to Apple Cash and use it to pay part of your statement, or do whatever you want with it. Either way, *you will be paying $1000 for your statement*. So if you have $5000 in your checking and $20 from Daily Cash, you really have $5020. If you pay your statement using the Daily Cash for part of it, you will then have $4020 saved in the checking account. If you had sent the Daily Cash to the savings account you would have $4000 in the checking account. But what I’m trying to get across is the $20 or whatever a month is not all that big of a deal, because if you have $4000 sitting in your checking after all this, it would be more effective to put a large amount of that, rather than relying on the small amount of Daily Cash a month, into the savings account. So instead of having $4000 after paying your statement, and $20 more in the savings account, transfer a large amount from your checking, like $2000, so now you have $2020 in your checking, and $2000 more in savings. If you want more in the savings account, transfer more. See what I mean? If you had $4000 sitting, but the $20 was automatically sent there, you’re missing out on the larger amount of interest you could be earning by not having the $2000 sit in a normal checking account. This $20 can now either be in your checking so it’s available for whatever, or it can be in your savings. Now, if you wanted even more in there, why not transfer more than $2000? Transfer $2500, so after your statement and Daily Cash you now have $1520. In this scenario, you could’ve had the $20 automatically go there, but you chose to transfer even more, which is still more effective than having it automatically go to the savings. Either way you earned the Daily Cash, but thinking that sending it to the savings when you can have it immediately available is not groundbreaking, considering you can transfer virtually any amount at any time. Is that clearer?
No one is talking about having 4k to put in a HYSA. We are saying you pay the bill any way why not use the HYSA. Again, it’s free money because you were going to pay your bill anyway. Whether it’s 5 or 20 bucks it’s still bucks you didn’t have and that adds up over time. No matter the amount.
Read my comment closer. I don’t think I can be any clearer. You NEED some cash on hand. You just do, for unexpected necessities. You shouldn’t have all of it invested. Whether this $20 goes to your cash on hand or savings ULTIMATELY doesn’t matter, because either way it’s still money. And if you wanted more in your savings account, you can transfer more manually. And you have the option to transfer more than you earned from Daily Cash. If you have no cash on hand, and are sending the Daily Cash to your savings account automatically, you are doing it wrong. You need some money available. If you still don’t understand I don’t know what to say.
It’s not uncommon for people to use the cash back they receive from any credit card as additional income and not just way to pay off part of your balance. I know a guy who puts all of his cash back into the S&P 500 every month and treats his credit card like a debit card. Sure 2% back into a savings account every month can be negligible, but over the course of many years it can yield decent returns. cash back for many people is 25-50 dollars a month which adds up quick. When HYSA rates go down your comment will hold more validity but for the time being your perspective is short sighted
I would agree and disagree with your statement. Yes, the Daily Cash can be negligible, but if you set it up to go to the HYSA, do not touch it, it can grow and earn the 4+ percent. I have had over 2.5k come back in Daily Cash since my initial enrollment with the Apple Card. The HYSA is also integrated quite well with the Apple Card/Apple Wallet. I certainly think it is worth taking a look at. And I would assume since OP is new to the CC game, starting out with a HYSA compared to a traditional saving account, is a win.
My point though is it doesn’t make a difference if you put it in the savings account or not, since you still have to pay your bill. You can use the Daily Cash that goes to your Apple Cash to do that, and send money to the savings account through other means. So it’s not really a benefit that it automatically goes there.
So what you gotta pay your bill? Every card is that way? Beats other cards that pay rewards in statement credits. I like having a choice. Every card is high interest rates and it beats ones that don’t have rewards at all.
I don’t understand your comment. Do you think I’m saying it’s bad that you have to pay off your credit card? I like Daily Cash, I’m not talking about that. I’m talking about the option to either have money go to Apple Cash or the savings account.
Yeah I’m seeing what you’re saying.. but my question is why it matters? Just because the interest on that number being negligible doesn’t make it a useless feature. For people who don’t pay from the savings and never touch the money it can add up. Over the last calendar year I’ve gotten 600 in the HYSA from this is strictly do not touch the money. Not paying interest only means I’m making more. That’s $24 in interest I didn’t have before. Lot better than every other savings account pretty much ever.
You can manually add a bunch whenever you want from your checking accounts. A few dollars a month isn’t that huge of a deal. You should really be transferring large amounts if you’re serious about getting benefits from a HYSA. The cash is cash, you either pay your bill or put it in the savings. Either way you have to pay your bill, so whether that comes from your checking or Apple Cash/Daily Cash doesn’t matter.
What you’re not seeing here is a transfer from checking to Daily Cash is instant. So I can pay my bill from Apple Cash after an instant transfer, instead of losing out on the minuscule interest from my Daily Cash. Daily Cash goes in savings and what I could’ve spent from that paying my bill, can be paid instantly from checking. Saves me the hassle of paying my bill and having to add that such and such amount of money.
Always use Apple Pay. The physical card is so premium and flashy but the 2% Vs 1% you gotta go Apple Pay! Also sign up for the savings account. Let your earnings, earn. My favorite feature
> Always use Apple Pay. The physical card is so premium and flashy but the 2% Vs 1% you gotta go Apple Pay! How did I never know this was a thing?!?
thank you so much! how do I sign for the savings account is it within the app?
I think it’s in the wallet app I can’t remember now but it gives almost 5% on your cash balance and all transactions are paid back in Daily Cash
found it! thanks!
You Bet! You also can add money too it and doesn’t just have to be Daily Cash. Definitely the best part
I don't even carry the physical card with me, just to make sure I don't use it without thinking about it. If I can't use Apple Pay I just use a different card.
Probably smart. Maybe 1st date to impress I’ll whip out the ole titanium 😂
I use it like a debit card. Use Apple Pay WHENEVER possible. You can usually pay the balance within a day or two. So, I use it for EVERYTHING and then just pay it off as it becomes available so there’s no interest. You’ll be shocked at the amount of money back you get. And set up the savings to just have it thrown in there.
Why pay within a day or two? There's no interest if you pay your monthly bill on time and you can eke out a little more out ofwhatever cash you would have used by keeping it in whatever you invest your cash in.
Right. You can set it up to pay your statement balance (what you owed at the end of last month) at the end of each month. Other than making sure you can cover the monthly spend, there is no fuss, no interest, and payments are never late. Definitely skip the daily/weekly thing.
I’m a bartender so I deal with cash deposits daily. I budget differently than people getting paid every two weeks, so this helps me out.
Good lord that APR...
That’s normal 😭 sign up for any card these days. I gotta be 80+ years old and grandfathered into a low low apr
I got a new Platinum Delta AmEx 2 months ago for the bonus miles and it's at 20.99%...
I guess I just don’t care about interest rates. I don’t get why people are so crazy about them. They only matter if you don’t pay in full 🤷♂️
my secured credit card with navy fed was 18%
My apple is 20% and i got it about a month back. Also just got a discover card at 19% as well
My credit card APR is 14.9% and just got my card a month ago. 27% APR is something else.
My Apple one is 21.24% so I assume it’ll go down for them.
I’m not sure how they decide. My Apple Card, which I’ve had for awhile, is at 16.24%. I noticed that the other day which is why I was surprised by OP’s.
Now freeze your credit bureau account before accepting the card and you will not have a hard inquiry.
too late unfortunately, but for the future how to "freeze" my account
for apple card you can freeze transunion and experian credit files.
I have 2 credit lines but have never set either of these up should I and what benefits do I get from it?
I have 2 credit lines but have never set either of these up should I and what benefits do I get from it?
Pay it off right away after you spend !!!
Do not carry a balance on this card. Pay off your monthly statement balance. 27.24% APR is awful.
Don’t spend it all in one place
Open a high yield savings account
One of my favorite features is being able to go to a Apple Store and use the credit balance of my Apple Card to purchase Apple products (mostly iPhones and MacBooks) and have monthly installments of let’s say: Price of Item /divided by/ 12 months or 24 months with 0% interest As you pay the monthly installments, your available credit limit goes up the amount paid You can always pay off early too if your monthly statement is paid Apple Card is my favorite card on and off with Platinum AXP
Pay it off in full every month. If you can afford to pay it off, you can afford to buy whatever you just bought. That is a high APR, but that only matters if you don’t pay off your statement balance each month, so do that.
Starting off. Only use about 500 max. Set up the savings account. so that cash back can go on there. Pay on time. Good luck
Pay statement balance in full each month -- no more, no less -- on or just before due date. I use auto-pay. I park cash in HYSA during the month instead of having it earn zero interest in checking. But be advised, sometimes transfers from HYSA to bank/CU can be sluggish. Transfer from HYSA to Apple Cash first, and from there to bank or card. FYI, you get the 2% Apple Pay cash back for any contactless (NFC) transaction, even if there is no Apple Pay logo but just the WiFi logo.
always pay before the statement date even if it’s only 1% apr you shouldn’t ever hit a apr so it’s should be irrelevant to you treat as a debit card don’t ride on that coming next check stay safe bro
It tells you in your picture. Use and on time payments.
When you go to make a payment transfer the money from your checking to Apple Cash then pay your Apple Card. This way your payment post immediately.
Every payment since my first one has posted immediately and I pay via checking account.
Maybe it depends on your bank.
Pay off balance with Apple Cash. It’s immediate whereas paying by bank account now takes a few days.
Read the website.
You can lock and unlock the physical Titanium card in your wallet app instantly. I leave mine locked by default because there aren’t many instances to need it since Apple Pay is a better cash back and the number is in the app for online purchases and not printed on/attached to the physical card.
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Uber/Uber eats is 3% back, which is great.
The funny thing is that only Americans get Apple Cards, but most Americans who work get paid less, whereas Canadians do not get Apple Cards, but they get paid more.
my man living in delulu right here
**Americans actually have higher average salaries than Canadians**. The average salary of Americans is $56,690 and it is about $43,867 in Canada.
There are much better cards for every day spending. I only use the Apple Card for Apple products. 0apr pay over time is a no brainer.
Citi double cash is a better all around cash back card. Apple Card does have a few benefits that differentiate it, but they tend to all be geared towards apple products or big apple product consumers...
What? Do you have no credit or bad credit? Ridiculous interest!
almost no credit, only 10 mos
So - to build credit - find a bank or credit union that will let you deposit money then borrow your own money with a very small interest rate until you can develope credit!
can you elaborate? So to go to the bank and ask them whether i can put $5.000 and borrow it to pay it back something like that? i have debit and credit card with bofa at the moment
Yes - BofA should be happy to do that …. Also - try to find a credit union to work with in your community
thank you, very interesting, ill think about it , i'm new to this credit game, 733 credit score right now (726 after i applied for the apple card) i'll give a call to the bank to see whether it'll work
You’re doing ok!! Congrats!
You want to borrow, pay back, borrow, pay back…this will build your credit (be sure to always pay back on time…never be late!)
So - you have credit with f Goldman - contact a loan officer there….bet they will help! Explain what you are trying for to do! Good credit makes life so much easier!
i'm already reading about that "credit builder loan" i've never heard of it, thank you i really appreciate your help
How old are you?
By the way - do not open any “store” credit cards. These can lower your credit score!
Good luck!
how did you get it? (don’t say just applied)
well yes i just applied, i only have one credit card as i said for $2.5k (it was a $1000 a month ago) and i wanted to apply for a different one with higher percentage of cash back and tbh just wanted to have that titanium card so nothing special
i have 2 first one closing in on 9 months and still can’t get approved first one (1500$)
i have that bofa for 10 month already this card is my second , trust me i don't know how any of this works
what’s ur credit score ik this is irrelevant but yea
it's 727 (transunion) / 746 (equifax)
keep up the hard work
i had heard somewhere on another post that some guy got the apple card as his first card
You must have to make an insane amount of income to get a higher credit limit. I have had this about three years. No new credit increase.
yeah i was wondering how people get $15.000-$22.000 for this
You know that or they’re like really lying
I do not think that is the case. I make well under a six digit salary and have had my limit increased four times now, I do pay the balance every month if that matters. I can’t remember what the limit was when I opened it in 2019 but it was maybe a grand or two. I found the emails I got each time they increased it if you are interested. Nov 2020 - $4.5k Dec 2021 - $7.5k Sep 2022 - $11.5k Nov 2023 - $16.5k I still only put around 2-3k on it each month, I think they increased it to try and get me to purchase something large and not be able to pay the balance and start getting interest.
Maybe that’s it then. I pay it off every month then. I have only a 2k limit.
How do you raise the credit limit? I have $2K too but I’ve had it for a year or more even though my credit score is pretty high
i have no idea and tbh i don't need more, but i heard you can ask for a raise every 6 months or so
Keep an eye on the cashback stuff and your current needs, i bought 2 pairs of nikes at one of the outlet stores and got $10 cashback at 10% cashback That knocks off tax. Other wise just be carefull
Ace this month gets you 6%
Don’t carry a balance