This is how much Apple Card users earned in cash backs in 2023 |
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Apple has announced that its credit card, the Apple Card, has crossed over 12 million users in the United States. The Apple Card was launched in 2019 and is only available in the US. Last year, cardholders earned more than $1 billion in Daily Cash rewards through their spending.
Apple says that close to 30 per cent of Apple Card customers pay their bills twice or more per month.Additionally, over a million Apple Card users share their cards via Family Sharing, while nearly 600,000 users are building credit jointly with their spouses, partners, or other trusted adults. Apple further adds that its “Path to Apple Card Program” has helped over 200,000 users with low credit scores get approved for an Apple Card.
Using an Apple Card entitles you to a cashback or, as Apple calls it, “Daily Cash” on every purchase. Apple provides 3 per cent cash back for purchases made with Apple and select partners such as T-Mobile, Ace Hardware, Panera Bread, Walgreens, and Uber. All purchases made with Apple Pay using the Apple Card earn 2 per cent cash back, and all other purchases earn 1 per cent cashback.
Apple Card holders receive Daily Cash rewards every day. They have the option to choose whether they want the cash to be added to their Apple Cash card or deposited in the Apple Savings Account.
According to Apple, most users opt to have their Daily Cash added to Savings automatically. Additionally, about two-thirds of users deposit extra funds from a linked bank account. The current annual percentage yield (APY) of the Apple Card is 4.50 per cent, up from an APY of 4.15 per cent at launch.
“We designed Apple Card with users’ financial health in mind, and it’s rewarding to see our more than 12 million customers using its features to make healthier financial decisions,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “We’re proud of what we’ve been able to deliver to Apple Card customers in just five years. As we look at the year ahead and beyond, we’re excited to continue to innovate and invest in Apple Card’s award-winning experience, and provide users with more tools and features that help them lead healthier financial lives.”
Apple says that close to 30 per cent of Apple Card customers pay their bills twice or more per month.Additionally, over a million Apple Card users share their cards via Family Sharing, while nearly 600,000 users are building credit jointly with their spouses, partners, or other trusted adults. Apple further adds that its “Path to Apple Card Program” has helped over 200,000 users with low credit scores get approved for an Apple Card.
Using an Apple Card entitles you to a cashback or, as Apple calls it, “Daily Cash” on every purchase. Apple provides 3 per cent cash back for purchases made with Apple and select partners such as T-Mobile, Ace Hardware, Panera Bread, Walgreens, and Uber. All purchases made with Apple Pay using the Apple Card earn 2 per cent cash back, and all other purchases earn 1 per cent cashback.
Apple Card holders receive Daily Cash rewards every day. They have the option to choose whether they want the cash to be added to their Apple Cash card or deposited in the Apple Savings Account.
According to Apple, most users opt to have their Daily Cash added to Savings automatically. Additionally, about two-thirds of users deposit extra funds from a linked bank account. The current annual percentage yield (APY) of the Apple Card is 4.50 per cent, up from an APY of 4.15 per cent at launch.
“We designed Apple Card with users’ financial health in mind, and it’s rewarding to see our more than 12 million customers using its features to make healthier financial decisions,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “We’re proud of what we’ve been able to deliver to Apple Card customers in just five years. As we look at the year ahead and beyond, we’re excited to continue to innovate and invest in Apple Card’s award-winning experience, and provide users with more tools and features that help them lead healthier financial lives.”
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