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In terms of rewards-earning capability, the Apple Card hasn’t exactly been a game-changer in the credit cards space. The card’s cash-back rate tops out at 3% and is reserved for purchases at fewer than a dozen specific merchants. Plenty of credit cards with no annual fee have superior rewards rates and require less fuss to earn them. Some even come with lucrative sign-up bonuses.
But the Apple Card does boast some unique features not often found on those other cards, and one example is the Daily Cash that cardholders earn on every purchase. Daily Cash may be redeemed as soon as the transaction posts to the card account. The ability to get near-instant rewards distinguishes the Apple Card from most other rewards credit cards, which make cardholders wait until the end of the billing cycle to use their rewards.
Here’s what you need to know about the Apple Card’s Daily Cash.
What is Apple Daily Cash?
Daily Cash is the proprietary currency that is earned on every purchase with the Apple Card. Daily Cash is distinct from Apple Cash, which is the digital debit card that’s built into iPhone Apple Wallets.
TERMS TO KNOW • Apple Card: The credit card. • Daily Cash: The card's cash-back rewards currency. • Apple Pay: The mobile payment system compatible with iPhone 6 and later. It allows wireless checkout at store terminals and in apps and websites that support it. • Apple Cash card: The virtual debit card that lives on your iPhone for sending and receiving money (similar to Venmo and PayPal). This is where Daily Cash will be credited. • Wallet app: A native iPhone app that includes your credit cards to be used with Apple Pay, as well as perhaps airplane boarding passes, loyalty cards and other virtual cards you’ve added.
True to its name, Daily Cash is credited to you every day so that you can use it almost immediately after making a purchase.
Some purchases with the Apple Card earn more Daily Cash than others, as noted below:
3% cash back
• Apple Pay purchases made directly with Apple (including Apple stores, within the App Store and for Apple services).
• Ace Hardware purchases via Apple Pay. This includes purchases in the Ace Hardware app, on AceHardware.com and at participating stores nationwide.
• Exxon and Mobil gas station purchases via Apple Pay. This includes fuel, car washes and convenience store purchases.
• Nike purchases via Apple Pay (in U.S. stores, on Nike.com and on Nike apps).
• Panera purchases via Apple Pay.
• In-store T-Mobile purchases via Apple Pay.
• Uber and Uber Eats purchases via Apple Pay.
• Walgreens and Duane Reade purchases via Apple Pay.
2% cash back
All other purchases made via Apple Pay.
1% cash back
All purchases made with the physical Apple Card.
Daily Cash never expires as long as the account is in good standing.
Apple Card holders may occasionally earn Bonus Daily Cash on select purchases. Participating merchants and the Daily Cash earning rate can be found at www.apple.com/apple-card or in the Daily Cash Hub.
How do I use Apple Daily Cash?
Daily Cash may be used in one of several ways:
Deposit Daily Cash to an Apple Savings account. (The Apple Card must be added to the Wallet in order to enable this option.)
Deposit Daily Cash to an Apple Cash card.
Redeem Daily Cash as a statement credit toward the balance on the Apple Card. This credit counts as a payment.
Cardholders may only select one redemption option. In other words, it’s not possible to send some Daily Cash to Apple Savings while the rest is converted to a statement credit.
If you open an Apple Savings account, Daily Cash will automatically be deposited into that account. However, redemption preferences may be modified any time in the Apple Wallet.