What the Apple Card Is

The Apple Card is a credit card issued by Goldman Sachs that you request, manage, and use entirely through the Wallet app on your iPhone, iPad, or Apple Watch. You do not receive a physical card in the mail—though you can request a titanium card to use in stores if you want one. The card has no annual fee, no late fees, and no penalty rates.

When you use the card, you earn cash back when ready. The cash back rate depends on how you pay: 3% when you use Apple Pay in stores or online, 2% when you use Apple Pay, and 1% when you use the physical card or the card number. The cash back goes into a Savings account within Wallet, where it earns interest at a rate that changes with the market.

You can pay your bill through the Wallet app, set up automatic payments, or link the card to your bank account. The card reports to all three credit bureaus, so on-time payments build your credit history the same way any other credit card would.

Key Takeaways

  • The Apple Card lives in your iPhone Wallet and has no annual fee, late fees, or penalty interest rates.
  • You earn 3% cash back with Apple Pay, 2% with Apple Pay on the card number, and 1% with the physical titanium card.
  • Cash back deposits into a Savings account in Wallet where it earns variable interest, and you can move it to your bank whenever you want.
  • You need an iPhone, iPad, or Apple Watch to request the card, and approval happens in minutes through the Wallet app.
  • The card reports to credit bureaus, so it works like any other credit card for building credit history.

How to Request the Apple Card

Open the Wallet app on your iPhone and tap the plus sign in the top right corner. Select "Credit or Debit Card," then choose "Apple Card." You will answer questions about your income, employment, and housing costs. Goldman Sachs will check your credit and give you a decision in minutes—usually while you are still in the app.

You need to be at least 18 years old, a U.S. citizen or permanent resident, and have a valid Social Security number. You also need an iPhone 6s or later, an iPad with iOS 12.1 or later, or an Apple Watch Series 3 or later. If you are approved, the card appears in your Wallet when ready and you can use it with Apple Pay right away.

If you want the physical titanium card, you can request it after approval. It arrives in about a week. The physical card has no number, expiration date, or security code printed on it—all that information lives only in your phone, which is why it is harder to use fraudulently if lost.

Understanding Cash Back and the Savings Account

Cash back posts to your account the same day you make a purchase. It goes into the Savings account, which is a separate space in Wallet where your cash back sits and earns interest. The interest rate changes based on the Federal Reserve's rate and the rate that partner banks are offering. You can see the current rate in the Savings section of Wallet.

You can move cash back to your linked bank account whenever you want—there is no waiting period and no limit on how often you transfer. Some people leave it in Savings to earn interest; others move it out when ready to pay down their balance or use it elsewhere. The choice is yours.

Cash back does not reduce your bill automatically. If you earn $50 in cash back and your statement is $500, you still owe $500. You have to manually move the cash back to your bank account or use it to pay the card bill through the Wallet app.

How Payments and Billing Work

Your statement closes on the first of each month, and your payment is due on the 21st. You can see your balance and due date in the Wallet app at any time. You can pay your full balance, a minimum payment, or any amount in between.

Set up automatic payments by going to the card settings in Wallet and choosing a payment method—your linked bank account, another card, or Apple Pay. You can set it to pay the full balance, the minimum, or a fixed amount. If you miss a payment, there is no late fee, but the missed payment will report to credit bureaus and affect your credit score.

Interest charges explore to any balance you carry past your statement due date. The interest rate (called the APR) is based on your credit score and creditworthiness. You can see your APR in the card details in Wallet. If you pay your full balance by the due date, you pay no interest.

What Happens If You Lose Your Phone or Card

If you lose your iPhone, iPad, or Apple Watch, you can disable the card when ready through iCloud.com or by calling Goldman Sachs customer service. The card will stop working on that device, but it will still work on your other devices if you have them set up. Once you get a new phone or device, you can add the card back to Wallet and use it again.

If you lose the physical titanium card, call Goldman Sachs or use the Wallet app to report it. They will deactivate it and you can request a replacement. You are not responsible for fraudulent charges if you report the card lost or stolen promptly.

The Wallet app also lets you temporarily disable the card if you think it might have been compromised but you are not sure. You can turn it back on from the app whenever you want.

Building Credit With the Apple Card

The Apple Card reports your payment history, credit limit, and balance to Equifax, Experian, and TransUnion every month. This means on-time payments help your credit score the same way they would with any other credit card. Late or missed payments also report and will lower your score.

Your credit utilization—the percentage of your credit limit that you are using—also affects your score. If your limit is $5,000 and you carry a $2,500 balance, your utilization is 50%. Lower utilization is better for your score. The Wallet app shows you your current limit and balance so you can track this.

If you are new to credit or rebuilding it, the Apple Card can work like any other card to help you establish a history. The key is paying on time and keeping your balance low relative to your limit.

Comparing the Apple Card to Other Options

The Apple Card has no annual fee and no late fees, which sets it apart from many premium cards. However, it also has no rewards beyond cash back—no points, no miles, no bonus categories. If you want to earn rewards on groceries, gas, or travel, a card with category bonuses might earn you more.

The 3% cash back with Apple Pay is competitive with other cards that offer 2% to 3% cash back on all purchases. The 1% rate on the physical card is lower than many alternatives, so if you plan to use the physical card often, a different card might be better.

The Apple Card also requires an Apple device to request and manage it. If you do not own an iPhone, iPad, or Apple Watch, you cannot get this card. For people in the Apple ecosystem, the integration with Wallet and the Savings account may be worth more than the cash back rate alone.

Frequently Asked Questions

Can I use the Apple Card without Apple Pay?

Yes, you can request the physical titanium card and use it like a regular credit card in stores or online. However, you will earn only 1% cash back instead of 3%, and you still need an Apple device to request the card and manage your account through Wallet.

What if I am not approved?

Goldman Sachs will tell you why in the Wallet app. Common reasons include insufficient credit history, a low credit score, or high existing debt. You can request the card again after improving your credit, but there is no set waiting period. Each request triggers a new credit check.

Does the Apple Card work internationally?

Yes, you can use Apple Pay with the Apple Card in most countries where Apple Pay is supported. There are no foreign transaction fees. The physical card also works internationally, but you will earn only 1% cash back on those purchases.

Can I transfer my Apple Card balance to another card?

No, Goldman Sachs does not offer balance transfers. If you want to move your balance elsewhere, you would need to request a balance transfer card from another issuer and pay off the Apple Card with that card's funds.

What if I want to close my Apple Card account?

You can close it anytime through the Wallet app by going to card settings and selecting "Close Card." Make sure you have paid off any remaining balance first. Once closed, the card stops working and you cannot reopen the same account, though you can request a new one later.