If you are putting that much on a credit card you can likely find better deals.
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Apple Card Users Can Get Up to 5% Daily Cash on All Purchases Through Holiday Season
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Exactly, so true. It's pathetic some ppl say it's a great deal. Maybe they should hang less here and more on miles and bank promo forums.
If someone spends an average of $3,000 per month during the promotional period, they would end up getting back at least $650 or at least 3.6% cash back average for all purchase types. Possibly a bit more (from first $5,000) if using Apple Pay or shopping at select merchants.
3.6% cash back on all purchases with no annual fee is pretty good. Yes, it means having to spend $18,000 on a credit card over six months which is above average but certainly not unheard of especially during the holiday season.
WHAT? One doesn’t get any ADDITIONAL benefit UNTIL one spends the first $5000, then the benefit goes up essentially 1% from the average 2% payment cash back… Then one spends ANOTHER $5000 to get to a higher tier.
So that additional 1% between $5000-$9999 nets all of $50 more than normal earning?
What am I missing here?
I already get 5% cash back on my Amazon Visa. I mainly only use my Apple Card for Apple Pay 2% cash back at places where I don't get more with my other cards, or for the 3% back I get on Apple purchases, and I pay every card off each month.
Are they saying your average balance needs to reach $5000, your monthly spend needs to reach $5000, or your total in this period November 6, 2024 to April 30, 2025 needs to reach $5000? Because the first two are never gonna happen, lmao, but to me it sounds like the latter where it builds up during the period. In that case I will probably hit it at some point since that is a 5 month period and I'm still paying down my MBP on 12mo 0% which comes off my Apple Card and earns Daily Cash, but I probably won't get the higher Daily Cash for very long, maybe a month or two at most.
Side note: As I've become more financially secure, I've realized that the system is really stacked for those with more money. I mean, it sounds obvious, but even for upper middle class I can just bulk buy years worth of whatever, have a house big enough to have a large storage closet to hold it all, and therefore I get everything way cheaper per unit. Or I can get lower management fees on investments because I hit a certain tier, and then it just generates passive income. And all of these card companies are always giving out the best deals, you get the lowest interest rates on loans, and then instead of buying something outright you just keep your money invested which is making several times the interest rate. It's kinda jacked up, but I guess it's because we're less risky to do business with and we do more business in total.
But at the same time, I pay everything off every month, so I don't get why they want my business so badly? Is it really just card processing fees? I'm looking forward to when Flexa with AMP, Ampera Foundation and ANVL blow all of that up in the coming years. Card transaction fees around 0.5% to 1% and you can stake into your own collateral pool as a business to earn your fees back, with instant and secure payments. It's getting close, and I hope Apple implements it. They would save billions per year in card processing fees. So would Amazon, Walmart, Target, etc. I believe it will be in InComm Payments and a few others, so it should be easy to integrate on the merchant side, as well as Shopify for smaller businesses.
Are they saying your average balance needs to reach $5000, your monthly spend needs to reach $5000, or your total in this period November 6, 2024 to April 30, 2025 needs to reach $5000? Because the first two are never gonna happen, lmao, but to me it sounds like the latter where it builds up during the period. In that case I will probably hit it at some point since that is a 5 month period and I'm still paying down my MBP on 12mo 0% which comes off my Apple Card and earns Daily Cash, but I probably won't get the higher Daily Cash for very long, maybe a month or two at most.
Side note: As I've become more financially secure, I've realized that the system is really stacked for those with more money. I mean, it sounds obvious, but even for upper middle class I can just bulk buy years worth of whatever, have a house big enough to have a large storage closet to hold it all, and therefore I get everything way cheaper per unit. Or I can get lower management fees on investments because I hit a certain tier, and then it just generates passive income. And all of these card companies are always giving out the best deals, you get the lowest interest rates on loans, and then instead of buying something outright you just keep your money invested which is making several times the interest rate. It's kinda jacked up, but I guess it's because we're less risky to do business with and we do more business in total.
But at the same time, I pay everything off every month, so I don't get why they want my business so badly? Is it really just card processing fees? I'm looking forward to when Flexa with AMP, Ampera Foundation and ANVL blow all of that up in the coming years. Card transaction fees around 0.5% to 1% and you can stake into your own collateral pool as a business to earn your fees back, with instant and secure payments. It's getting close, and I hope Apple implements it. They would save billions per year in card processing fees. So would Amazon, Walmart, Target, etc. I believe it will be in InComm Payments and a few others, so it should be easy to integrate on the merchant side, as well as Shopify for smaller businesses.
My assumptions is as follows:
The first $5,000 would be the "standard" 1% to 3% Apple Card cash back depending on purchase type and/or merchant. That would total $50 to $150.
The second $5,000 ($10,000 in total purchases) would be 3% of that portion, regardless of Apple Pay or merchant, for a total of $150.
The third $5,000 ($15,000 in total purchases) would be 4% of that portion, regardless of Apple Pay or merchant, for a total of $200.
So, if someone spent $15,000 during the promotional period, they would get $400 to $500 cash back or around 2.7% to 3.3%.
Everything above $15,000 would be 5% of that portion.
A "benefit" of the promotion is that you don't have to use Apple Pay and/or buy from certain merchants to get the higher cash back percentages. You do have to spend $5,000 to $10,000 to get 3% for that portion, $10,000 to $15,000 to get 4% for that portion and over $15,000 to get 5% for that portion.
My assumption is that it's about the total purchases during the roughly six month promotional period. The first $5,000 is the "standard" Apple Card 1% to 3% depending on purchase type (using Apple Pay) and/or merchant. You have to spend $5,000 to $10,000 total to get 3% for that portion, $10,000 to $15,000 total to get 4% for that portion and over $15,000 total to get 5% for that portion.
I think some people are vaguely remembering the (old) Blue Cash structure (now long-discontinued):
- <$6500 spent in a year, 1% everyday purchases, 0.5% everything else
- ≥$6500 spent in a year, 5% everyday purchases, 1% everything else
- Everyday purchases include supermarkets, drugstores, and gas stations
Today is the day. Anyone get this yet? I'm patiently waiting take advantage of this offer to its extreme.
Eligible Apple Card holders whose Apple Card Account total purchases posted to your account meet each Spend Tier Threshold of $5,000/$10,000/$15,000 (“Spend Tier Threshold(s)”) during the Offer Period will unlock and earn a Daily Cash earn rate totaling 3%, 4%, or 5%, respectively, (“Daily Cash Unlock earn rate”) on all subsequent Apple Card purchases made through the end of the Offer Period or until the total spend cap of $50,000 has been reached.
I received the offer and the above snippet is from the fine print in case anyone needs confirmation.
I received the offer and the above snippet is from the fine print in case anyone needs confirmation.