Apple Card 2025: Features, Savings, APR, and How to Open an Account
Apple Card 2025: Features, Savings, APR, and How to Open an Account.
Apple Card isn’t just a credit card — it’s part of Apple’s growing financial ecosystem, created in partnership with Goldman Sachs. In 2023, Apple launched its Apple Card Savings account, offering competitive interest rates for iPhone users. As of January 2024, the APY reached 4.5%, higher than typical U.S. bank savings accounts.
It’s great for Apple product users.
In this guide, we’ll cover everything about Apple Card in 2025: credit card features, Daily Cash, APR, savings account setup, pros/cons, and practical tips for maximizing interest and rewards.
Key Updates for 2025
- Variable APR: 18.24%–28.49% depending on creditworthiness (check Wallet app for your exact rate).
- Apple Card Savings APY: 4.5% as of early 2024; slightly lower than peak 2023 rates but still competitive.
- Issuer news: Goldman Sachs continues to issue Apple Card; JPMorgan Chase has been reported in talks to potentially take over the portfolio, though nothing is finalized.
- Regulatory matters: Apple and Goldman Sachs have faced CFPB enforcement actions regarding transaction and dispute handling.
Apple Card Features
Daily Cash
Cash back is credited daily depending on the merchant and payment method:
- 3% on Apple purchases
- 2% with Apple Pay
- 1% on physical card purchases
Apple Card Monthly Installments (ACMI)
0% APR financing for eligible Apple products. Taxes/shipping may not be included. Standard APR applies if not using ACMI.
Family & Co-ownership
Share an Apple Card with up to five family members, allowing credit building and limit management.
How to Open an Apple Card Savings Account
Apple Card holders in the U.S. can open a savings account with up to 4.5% APY, FDIC-insured via Goldman Sachs. Here’s a step-by-step guide:
1. Requirements
- Latest iOS version (16.4.1 or newer)
- Apple device
- U.S. residency
2. Daily Cash Selection
- Open Wallet → tap Apple Card → More Options → Daily Cash → next screen.
3. Setup Screen
- Tap Set Up → Continue → Agree to Terms and Conditions
- Answer tax-related questions correctly
4. Linking Bank Accounts
- Add cash from linked bank account
- Withdraw to any U.S. bank no fee
5. Deposit Limits
- Single deposit: $10,000
- 7-day cumulative: $20,000
- Max balance: $250,000 (excluding Daily Cash or earned interest)
6. Interest Growth
- Interest compounds monthly
- Daily Cash can be automatically deposited into savings
- Small deposits can add up to substantial interest over time
FDIC Coverage
Goldman Sachs membership ensures deposits are protected in case of bank failure.
Pros and Cons
Pros
- Seamless Apple ecosystem integration
- Daily Cash is convenient
- No annual or foreign transaction fees
Cons
- High APR for carried balances
- Savings APY decreased slightly in 2025
- Regulatory and issuer uncertainty
Practical Tips
- Use ACMI for eligible Apple products to enjoy 0% financing
- Pay balances in full to avoid high APR
- Deposit Daily Cash into Apple Savings for compounding interest
- Monitor deposit limits to maximize interest growth
Who Should Get Apple Card
Best for: iPhone users who pay their balance in full, value Daily Cash, and want excellent Wallet integration.
Not recommended for: People who carry balances and want the lowest APR or balance transfer options.
Summary
Apple Card 2025 combines a modern credit card with high-yield Apple Savings, Daily Cash rewards, and strong ecosystem integration. While Japanese users cannot open accounts yet, U.S.-based Apple users can enjoy convenience, FDIC protection, and competitive interest rates. Use Daily Cash strategically to build savings and maximize rewards over time.
