Is the Apple Card Good for Building Credit? (2024)

FAQs

Can you build credit with an Apple Card? ›

If they're 18 years or older, they can order their own titanium Apple Card. If they're 18 years or older, they can opt in to build their credit and be reported as an authorized user on the account.

The Apple Card can be a smart choice if you're building or rebuilding your credit, because its benefits compare favorably to other credit cards for consumers with fair credit. The fact that it explains how much interest you'll pay based on your payment amount also makes it useful if you're new to credit cards.

The Apple Card lacks many of the fees that turn other cards rotten. With no annual fee, no late payment fees and no foreign transaction fees, you're covered if you accidentally miss a payment or want to use your card at Apple Pay terminals abroad. Note that you'll still incur interest charges for any missed payments.

If you apply for Apple Card and your application is approved, there's no impact to your credit score until you accept your offer. If you accept your offer, a hard inquiry is made. This may impact your credit score.

You need a credit score of above 700 to get the Apple Card, which means at least good credit is required for approval.

Goldman Sachs doesn't offer automatic credit limit increases like many other issuers do, but you can request an increase on your Apple device by chatting with an Apple Card customer service representative. To do that, open the Wallet App on your Apple device and tap the three dots icon in the upper right corner.

Get up to 3% Daily Cash back with every purchase.

No matter where you shop, you always get unlimited Daily Cash back wherever you use Apple Card. It's unlimited, and it's real cash¹ you get back every day.

Owning more than two or three credit cards can become unmanageable for many people. However, your credit needs and financial situation are unique, so there's no hard and fast rule about how many credit cards are too many. The important thing is to make sure that you use your credit cards responsibly.

Launched in 2019, Apple Card has helped more than 12 million cardholders make healthier financial decisions. Five years after Apple Card was first introduced in 2019, 12 million Apple Card users are reaping the benefits of Apple Card's award-winning experience.

Yes, it is hard to get the Apple Card because it requires at least good credit for approval. Unless your credit score is 700 or higher and you have a lot of income, it will be difficult for you to get approved for the Apple Card.

What is the minimum score for the Apple Card? ›

Apple Card uses FICO Score 9. FICO Score 9 ranges from 300 to 850, with scores above 660 considered favorable for credit approval.

There is no minimum income limit you need to have. The amount is used in part to determine your available credit limit if you are approved. Check your last year's tax return.

Apple Card is the first consumer credit card Goldman Sachs has issued, and they were open to doing things in a new way. And the strength of the Mastercard network means Apple Card is accepted all over the world.

It's possible to get approved for the Apple Card with a credit score under 670, but your chances improve as your credit score increases. And an excellent credit score doesn't guarantee your approval, other factors are considered, such as income and payment history.

It's easy to add your partner, spouse, or other adult from your Family Sharing group as a Co‑Owner — even if they don't have their own Apple Card yet. Apple Card Family allows two partners to merge credit lines ⁷ to form a single co-owned account, manage that account together, and build credit as equals.

It does have credit limits. The limits are determined by the cardholder's credit score, credit age, and income at the time of application. Apple Card holders have reported credit limits as low as $50 and as high as $15,000. An Apple Card may be shared using Apple Card Family.