Apple Credit Card Pros and Cons | Why I WON'T Apply For This Card

Credit cards are a convenient way to make purchases, pay bills, and build credit. But, like all forms of borrowing, there are pros and cons to consider when deciding whether or not to get a credit card.

The Pros of Having a Credit Card

1. Convenience: Credit cards are convenient to use and make it easy to make purchases and pay bills. With a credit card, you don’t need to carry cash or a checkbook. You don’t even need to go to the bank to withdraw money. And if you need to make a purchase online, it’s easy to enter your credit card information.

2. Build Credit: One of the biggest pros of having a credit card is that it can help you to build or improve your credit score. When you make timely payments on your credit card, your credit score will improve. Having a good credit score can make it easier to get loans and other types of credit in the future.

3. Rewards: Many credit cards offer rewards or cash back when you make purchases with your card. You can get rewards such as airline miles, cash back, discounts, and more. This can be a great way to save money on purchases you make anyway.

The Cons of Having a Credit Card

1. High Interest Rates: Credit cards are a form of borrowing, and as such, they come with interest rates. The interest rates on credit cards can be very high, and if you carry a balance, the interest charges can add up quickly.

2. Debt: Credit cards can make it easy to get into debt. If you don’t pay your balance in full each month, you’ll be charged interest, and the debt can quickly spiral out of control.

3. Fraud: Credit cards are susceptible to fraud. If your card is stolen or you become a victim of identity theft, it can be difficult to recover your money.

Key Points:

• Credit cards are a convenient way to make purchases and pay bills.
• Credit cards can help you to build or improve your credit score.
• Many credit cards offer rewards or cash back when you make purchases.
• Credit cards come with high interest rates.
• Credit cards can make it easy to get into debt.
• Credit cards are susceptible to fraud.

People Also Ask Questions and Answers:

Q: What are the benefits of having a credit card?
A: The benefits of having a credit card include convenience, the ability to build credit, and rewards or cash back when you make purchases.

Q: Is it bad to have a credit card?
A: Having a credit card can be beneficial, but it can also be dangerous if you don’t use it responsibly. If you don’t pay your balance in full each month, you’ll be charged interest, and the debt can quickly spiral out of control.

Q: What is the best credit card to get?
A: The best credit card for you depends on your individual needs and goals. You should research different credit cards and compare their features and fees to find the one that best suits your needs.

What are 3 pros and cons of having a credit card? – 10 Tips

There are many pros and cons of the new Apple credit card. Here are some of the reasons why I would recommend it and also some reasons why I don’t recommend to apply for this card.

Reasons why I would recommend the Apple credit card:
1.You receive 2% cash back when using Apple Pay. However, a lot of retailers do not accept Apple Pay, so you may be stuck only receiving 1% back on those other transactions. The Citi Double Cash credit card gives 2% back on all transactions just using their physical credit card.
2.You receive 3% cash back when purchasing Apple products or when making transactions with Uber, Uber Eats, Walgreens, Nike, or T-Mobile.
3.The Apple credit card tracks your spending habits, so you’ll be able to see which categories you spend the most in. From there, you can make the proper lifestyle adjustments to help with your budgeting.
4.The Apple credit card also will allow you to pull up a map with each transaction you made. Can’t remember some name of a restaurant it shows you went last month? Simply click on it, and a map will pop up showing exactly where it is.
5.The Apple credit card also has a slider when you make a payment, and the further you slide it to make a larger payment, it will also show less interest being paid, encouraging you to make a larger payment.
6.The Apple credit card will have a due date on the last day of each month.
7.No fees! What’s not to love about that?
8.No physical credit card number on the card, so people can’t look at it and steal your card number. There’s some security there.

Reasons why I don’t recommend the Apple credit card:
1.No spending bonus – a lot of credit cards offer great spending bonus’ in this time, so it’s quite disappointing Apple didn’t make a splash by even giving out a small spending bonus by spending a few hundred dollars in the first few months of having the card.
2.Apple pay isn’t widely accepted among retailers – if you don’t use apple pay, you only receive 1% cash back, which is pretty poor.

The real reason I won’t apply for this credit card is the lack of spending bonus, which is one of the key factors I look for in a credit card. The categories and cash back are of course very important as well, but the lack of a spending bonus was quite disappointing.

I do think Apple puts out great products and this will still be a popular card because of their personal branding and A+ customer service. I don’t mean to knock this card at all, but I just personally won’t apply for it at this time.

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