Apple Card offers benefits from MasterCard; base APR lowered to 12.99%

Created by Apple and designed for iPhone, Apple Card brings together Apple’s hardware, software and services to transform the entire credit card experience.
Created by Apple and designed for iPhone, Apple Card brings together Apple’s hardware, software and services to transform the entire credit card experience.

Apple’s credit card, Apple Card, which began rolling out to some beta testers and members of the media this week, uses MasterCard for processing payments.

Juli Clover for MacRumors:

Since it uses MasterCard’s network, the Apple Card is able to take advantage of benefits offered to MasterCard card holders, as pointed out by TechCrunch‘s Matthew Panzarino, one of the early testers.

MasterCard’s website offers a list of benefits available to Apple Card users, including fraud protection, identity theft protection, and a free ShopRunner membership that offers free two-day shipping from some websites. Other benefits include Mastercard’s travel discounts and upgrades, Mastercard’s exclusive “special events,” Mastercard golf offerings, and home rental discounts via Onefinestay, all of which are available to all Mastercard users.

Also of interest to potential Apple Card customers is a new base annual percentage rate (APR). When Apple Card was announced, Apple said that it would offer an APR between 13.24 percent and 24.24 percent based on credit score. Following the Federal Reserve’s decision to cut interest rates last Wednesday, the APR for Apple card has changed.

MacDailyNews Note: The world’s most widely-coveted credit card gets even better! See the list of benefits available to Apple Card users via MasterCard here.


  1. I have a question…
    My credit rating has consistently been in the 800’s for years and years. I’m 10 years into my house mortgage (my biggest debt), and the house is worth way more than I owe on it. Only other debt is two credit cards, which I pay off monthly. No inquiries into my credit for several years… until yesterday when I applied and got the Apple Card. But my APR is 17.99%. With my good credit, why isn’t that lower?

    It won’t really matter because I pay them off monthly… just curious. Anyone?

    1. That IS odd. Maybe it’s part of the agreement between Apple and the bank to set everyone at that initial rate for a few months then reevaluate to rate appropriate to your credit history.

      1. You probably underutilize your credit– remember what this whole system is about– they lend you money to make interest from you. Their best clients borrow A LOT and keep paying. You borrow a little and keep paying. You’re good to them, but not that good. 🙂

    2. I suggest contacting the agency that approved the credit and established the interest rate and ask why you weren’t provided the lowest rate in the event you don’t pay the balance in full.

    3. Because you pay off monthly. Odds are that if you don’t and only make a partial payment it will be because of financial issues that, while not reflected in your credit history, creates risk for the credit card company. So, perversely, folks who do not regularly carry interest can pay more for credit.

        1. What logic is that? Bizzaro land logic?

          Least credit worthy = biggest risk of not getting paid back

          The cost is credit is based on risk assessment. Most credit worthy pays the least.

    4. When credit cards offer cashback or points any type of awards program they increase the interest rate because at the end of the day nothing is free that seems like an awful. I have the cash rewards B of a card and the one I predominately use today which is through Fidelity investments and the interest rate is 13% and that’s with the cash back. This is where the atrocity Goldman Sachs comes in to play.

    5. My credit rating are quite similar to yours. I recently had a similar experience and it was explained by telling me you can not rely of the number the monitoring services give you. Each institution has custom designed models from the services and the model often differs based on what type of credit you are asking for.

    6. Because credit cards are predatory niobium’s matter who is behind them. republicans love credit cards because their bank buddies make extreme profits while the suckers pay and pay.

    7. I’m in that same exact situation. I’ll be using and paying off the card every month, but if I don’t get an interest rate cut pretty soon, I won’t be using it for month; I’d rather get the frequent flier miles.

  2. I do not see listed any of the card benefits that I normally look for such as Extended Warranty, Price Protection, Purchase Security, Auto Rental Collision Damage Waiver, Trip Cancellation and Interruption, Lost Luggage and Worldwide Travel Accident Insurance. And since this is Apple’s card, it should also come with free Cellular Telephone Protection (which is a free benefit that comes with the Wells Fargo Signature Visa and Barclay’s Uber Visa).

    It’s not likely that I’m would use this card to buy a big ticket item without purchase benefits. And it’s not likely that I’m going to book a cruise, flight or rental car without travel benefits. And it’s not likely that I’m going to use this card to pay my monthly cell phone bill without getting free cell phone insurance.

    I’m sure Goldman Sachs will open a lot of accounts since it’s made of titanium, but to me, this card is just a gimmick.

    1. Seconded. The initial offer isn’t particuarly compelling.

      The cash-back bonus is pretty standard unless you buy a ton from Apple. My existing Mastercard provides the things you mentioned — auto rental insurance, travel insurance — and the no-fee version of AmEx provides warranty extension and price protection.

      At a minimum, they should offer some insider coverage like free APP on items purchased with the card.

      They’ll figure it out in a few years, like they do everything else.

  3. People need to remember that this is still a credit card and a even with the lowest rate is still a bad deal for people with excellent credit. Yes, it is cool and the security features are noteworthy, but it is not any different than any other credit card. I’d never get one at that rate. Credit is credit. Don’t drink the kool aid.

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