 What's up everybody it's Stas here and in today's video I want to go over arguably the most talked-about topic in the personal finance and credit card community over the past couple of months Being the Apple credit card that want to go over some pros and some cons about this credit card Talk about my opinion on the credit card whether or not I think it's a credit card to add to your repertoire in 2019 and also go over some specs of the card to see whether or not It's a good fit for you. So if you enjoy this video feel free to go down below and hit that like button It's greatly appreciated and let's get right into the topic of today's video. So back in 2014 Apple announced what is known as Apple Pay and Apple Pay to put it in very simple terms Allows you to upload credit cards onto your iPhone through the wallet app and you can go to places that accept Apple Pay and simply use your phone scan your phone and pick the credit card Whichever one you want and pay for the product that you're buying with your phone It's pretty pretty awesome, right? And it wasn't until this past March that Apple actually partnered up with Goldman Sachs and Mastercard to create their own credit card Which obviously is known as the Apple credit card right in this credit card guys It's a titanium card, but honestly you don't even need that right you don't even need the titanium card You can order it if you want to if you don't want to pay with your phone But you can literally just sign up through the iPhone and have your credit card living in your phone This obviously has some pros to it and it obviously has some cons to it Which will get into in a little bit here in this video, but before we do get into that Let's briefly talk about some specs of the card starting out with the app itself. So the app itself It's pretty cool once you open it up You see a card on the top of the screen and this card is color coordinated based off of what you're spending So let's say you're spending more in the entertainment category It's going to turn more of the color of the entertainment category, right? Let's say you're spending in you know food or things of that nature It's going to turn into those particular colors also in the app It shows you your current balance where you're spending your money split into different categories And when your payment is due and speaking of the payment an interesting thing is that your payment is always due on The last day of the month. So there's no confusion I know a lot of other credit cards and I've had personal experience with this The payments are due at various times sometimes it's the 24th of the month Mine actually just got changed to the 8th of the month and a lot of the times This may cause people to miss payments and honestly just cause a bunch of confusion in terms of people paying cards Especially with people that have multiple credit cards So knowing that it's always going to be at the end of the month kind of provides a piece of mind for those people That are using the Apple card now to get into what a lot of you want to know and trust me This is what I wanted to know as well What is the cash back offered by the Apple credit card when you're signing up for a credit card? You're typically looking at how much money can you make back on purchases? So you can make three percent cash back and this is daily cash Which we'll get into in a second here But you can make three percent cash back if you're buying anything from the Apple store whether that's at a physical Apple location Apple.com the App Store or iTunes you can also get three percent cash back from places I have partnered up with the Apple card and Apple pay some of those being uber and uber eats which is awesome right so if you're a person that let's say lives in the city and you don't actually have a vehicle of your own and your Ubering everywhere. This could be an awesome credit card simply for ubering and let's say you don't like to cook Let's say you don't like buying groceries and you uber eats a lot Which is for those of you guys that don't know you can order food through uber and they bring it to you This could be also a very very good option for you as well And another awesome thing about the credit card is if you shop at locations that provide Apple pay No matter what it is you get two percent cash back on all of your purchases So if you go to a gas station that has Apple pay if you go to BJ's Costco, I don't know if they have Apple pay, but I'm just saying in general here You know if you go to places that have Apple pay and you use it you get two percent cash back No matter what which is very very awesome one downside about it though Is if the location that you're at let's say you're at a restaurant Let's say you're at a supermarket a gas station whatever it may be Let's say this place doesn't have Apple pay and you use the physical titanium card to purchase You're only going to be getting a one percent cash back, which let's be honest guys That is not really competitive with some other credit card companies out there like the capital one quick silver Which I personally have which provides a one point five percent cash back on all purchases So overall I personally think the cash back is pretty solid But it's dragging you into the Apple ecosystem as you guys can pretty much see right the card is on the iPhone You get three percent cash back at all Apple locations and people that are partnered up or companies that are partnered up with Apple They want you to be in this ecosystem. So if you're not glued onto your iPhone Let's say you have a Google phone or a Samsung this obviously may not be the card for you And let's touch upon that daily cash back that I talked about a couple of minutes ago Which is also another unique spec of this credit card So when you make a purchase with the Apple card the cash back that you receive whether it's three percent two percent or one Percent this goes into a separate account in your wallet called Apple cash, so let's say you buy something at the Apple store for $100 that three percent you get back, which is three dollars It's going to go in Apple cash and with Apple cash. This is very cool guys You can transfer that into your bank you can use that Wallet or really that you know account to pay off your existing credit card balances And you can really just do whatever you want with that money So it's very interesting the way that they set that up in terms of Apple cash And how you can utilize the rewards points the daily cash back to really benefit whatever you want Whether it's paying off your bill or just spending that money or really just doing whatever you want with it So another thing worth mentioning about the Apple card is there's absolutely no fees. There's no hidden fees There's no annual fees. There's no late fees. There's no foreign Transaction fees which is actually pretty good and making it a competitive credit card with some of these other cards, right? Like one card that I personally have is the capital one saver card And this has very good a cash back you can't complain about that But there is a ninety five dollar annual fee right ninety five dollars You have to do math in your head when you're signing up for credit cards to see is that going to be worth it? Year after year with the cash back that you're going to be getting to justify having that card, right? And the fact that Apple has absolutely no fees. That's pretty good, right? That's pretty good, especially for a beginner signing up for this credit card and using it and adding it to their repertoire of cards So the main cons about this credit card is it's really dependent on the iPhone, right? If you're a person that isn't always depending on your iPhone You kind of want to have a card that's in your pocket in your wallet that you can pull out and get 2% Maybe 4% cash back 1.5% cash back on certain things This may not be the card for you because remember these locations that don't have Apple pay You're literally getting a 1% cash back Which is not really competitive with some other cards that have 1.5% on all locations, right? And I'll have a list of locations on the screen right now showing you guys where Apple pay is So if you shop at these locations very often this may be a good card for you to consider, right? So the main thing is that 1% and it's very reliant on the iPhone So let's say you lose your iPhone That's a pretty big pain in the butt You have to lock your phone getting contact with Apple and it honestly may force you to not pay your bill that month You might miss a payment You might not be able to use the card on certain purchases and take advantage of those rewards points So it's very reliant on the iPhone, right? That's one of the main cons in my personal opinion of this card It is also difficult to use it for online shopping if you are using the physical card because the physical card It's very very sleek. It's only your name and the chip on the front, but there is no numbers, right? There's no numbers on the card So if you want to shop on amazon if you want to shop on some other online retail You're going to have to go in the app and punch through a bunch of different You know buttons to find what your credit card number is And then you'll be able to punch that in to whatever online place you are shopping So honestly, those are the main cons about the card and some of the pros of the card as well Another pro that I forgot to mention is that there's real-time fraud protection So if you're using the card or let's say you lose the card Someone else uses it once they swipe it once they, you know, put the chip in and buy something An alert's going to pop up on your iphone asking you if you recognize the charge and where the charge was made And if it wasn't your charge, you you simply click know whatever, right? You deny the charge and the card's locked and then you end up getting a new one, right? So it's pretty cool how there's real-time fraud protection That's obviously very important for any card out there that you are getting credit card Especially so before we wrap up the video Let's talk about my personal opinion on this card. Is it really worth it in 2019 for me personally guys I'm not going to be getting the apple credit card me I don't really shop at apple to be completely honest with you guys I don't really uber and I don't use uber eats which in my opinion If you're using those services uber and uber eats a lot if you're buying things on apple itunes apps Whatever it may be then this card is definitely worth purchasing or not purchasing Rather using right you get 3 cash back on everything apple and uber and uber eats I think that is worth it if you're a consumer a heavy consumer of those products And I honestly don't even use apple pay right obviously. I know a lot about it. I'm an investor in apple I need to know about these things and I did thorough research for this video But I've never honestly used it in the past and to be completely honest with you guys I'm a bit more old school. I like having the cards on me And I like not relying and and using the technology of an iphone to pay right because I'm personally Really scared about losing the phone. I've lost my phone in the past guys. I've broken my phone I actually dropped my phone in the ocean once and what if that happened? I didn't have my wallet What am I going to do right? I like having physical cards on me And I guess you can make the argument if you get the titanium card in the mail You can do that as well as having it on your phone But then again, I like cards that have more than 1 cash back in my personal Wallet so for me, is it worth it right now? No, let's say I go and get a new mac book I get a new iphone I might get the card just to get that 3 cash back or let's say I start ubering more Doing uber eats I might get it and add it to their repertoire in that circumstance, right? But as of now, I'm not a consumer a heavy consumer of those products But if you are this may be the perfect credit card for you So that's pretty much it for this video guys I would love to know what you think down below in the comment section about the apple credit card Are you planning on using it? Do you already have it? I would love to know what you have to think So if you found value in this video feel free to go down below hit that like button Consider subscribing if you want to see further content for me. I'll catch you all in the next video. Thanks for watching. Peace out