Apple Card: a no-fee credit card built around Apple Pay
How Daily Cash works, what the card costs and who gets the most out of it
Apple Card is a Mastercard credit card created by Apple and issued by Goldman Sachs Bank USA. It lives in the Wallet app on your iPhone, pays Daily Cash back on every purchase and doesn’t charge annual, late, over-the-limit or foreign transaction fees.
The card works best if you have an iPhone and pay with Apple Pay, since that’s how you earn the higher cash back rates. Below, we explain how Daily Cash works, what the card costs and who it makes sense for.
How Daily Cash works
Apple Card pays cash back as Daily Cash, which is credited as your purchases post to the account instead of at the end of the month. The rate depends on how and where you pay:
- 3% on purchases at Apple, and at select merchants such as Nike, Uber, Uber Eats, Walgreens, Exxon Mobil, Hertz and Booking.com when you pay with Apple Card through Apple Pay
- 2% on any purchase made with Apple Card through Apple Pay
- 1% when you use the physical titanium card or the virtual card number
There’s no limit on how much Daily Cash you can earn, and it doesn’t expire. You can send it to an Apple Cash account to spend or transfer, deposit it into an Apple Card Savings account, where it earns interest, or apply it as a statement credit. The 3% merchant list can change, and some exclusions apply.
Monthly installments at Apple
When you buy an eligible product at Apple, such as an iPhone, Mac or iPad, you can choose Apple Card Monthly Installments at checkout and pay for it over time at 0% APR. You also get 3% Daily Cash on the purchase price upfront. Taxes and shipping on these purchases are charged at your card’s regular APR, and you have to choose the installment option at checkout. A one-time payment with Apple Card doesn’t qualify.
Pros of the Apple Card
- No annual, late, over-the-limit or foreign transaction fees
- Up to 3% Daily Cash back, credited daily
- 0% APR installments on eligible Apple products
- You can see if you’re approved without affecting your credit score
Cons of the Apple Card
- You need an iPhone or iPad to use all of the card’s features
- Only 1% back when you pay with the physical card
- No welcome bonus, travel miles or points
- Missing a payment doesn’t trigger a fee, but it does add interest to your balance
Apple Card rates and fees
- Annual fee: $0
- Purchase APR: 17.49% to 27.74% variable, based on your creditworthiness
- Late fee: none, but late or missed payments add more interest to your balance
- Foreign transaction fee: none
- Over-the-limit fee: none
- Apple Card Monthly Installments: 0% APR on eligible Apple products
Terms checked in September 2026. Apple lists these APRs as of July 1, 2026. Rates and merchant offers change, so confirm the current terms on Apple’s official website before you apply.
Who issues the Apple Card
Apple isn’t a bank. Apple Card is issued by Goldman Sachs Bank USA, Salt Lake City Branch, and runs on the Mastercard network.
In January 2026, Apple, Goldman Sachs and JPMorgan Chase announced that Chase will become the card’s new issuer. The transition is expected to take about 24 months, and the card stays on the Mastercard network. At the time of the announcement, the companies said nothing was changing for current cardholders or new applicants, and Goldman Sachs continues to operate the program during the transition.
Managing the card in the Wallet app
You manage Apple Card in the Wallet app on iPhone. There you can see your transactions and balance, make payments and track spending by week or month with color-coded categories. When you make a payment, the app estimates how much interest you’ll pay based on the amount you choose, which helps you see the cost of paying only the minimum.
With Apple Card Family, you can share the card with people in your Apple Family Sharing group. Two adults can combine their accounts into one co-owned account and build credit together, and each co-owner is responsible for the full balance.
Our take on the Apple Card
Apple Card is a good fit if you use an iPhone, pay with Apple Pay often and want a card with no fees. The 0% installments are useful if you’re already planning to buy an Apple product and can pay it off within the installment term.
It’s a weaker choice if you mostly pay with a physical card, since you earn only 1% that way, or if you want a welcome bonus or travel rewards. And like any credit card, it’s best to pay the full balance each month: the card has no late fee, but interest still adds up.
You can apply and see if you’re approved with no impact on your credit score. If you’re approved and accept the card, a hard inquiry is made, which may affect your score. Approval is subject to credit review.
In the next article, we walk through how to apply for the Apple Card.
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