The Apple Store in Sydney

Q: I was told there was some sort of card from Apple that could be used for financing purchases at their stores, but I can’t seem to find the Apple credit card application anywhere?

A: Well, the reason you can’t find it is because there is no such thing as an Apple credit card. However, Apple has partnered with Barclays to offer their customer financing options using Barclaycard Visa cards. Here’s the lowdown on both…

Barclaycard Financing Visa Card
As the name implied, this credit card is geared towards those that need to finance their Apple store purchases. At the time of writing this review, here’s how it works:

• The financing promo appears to only be applicable on your first Apple purchase
• If your first purchase is less than $599 you get 6 months deferred interest. If your first purchase is over $599 you get 12 months deferred interest.
• The trap is if you don’t pay for every dollar of that purchase in full before the promo period is up (either 6 or 12 months) then you will be charged a boatload of interest going back all the way to the date of purchase, at a sky high 22.99% variable APR!
• There are no rewards offered on this card

Verdict?
When people talk about the so-called Apple credit card, this is usually the one they seem to be talking about (even though it’s technically not an Apple card). Being that it offers no rewards, has an extremely high APR, and the deferred interest gimmick appears to only be on initial purchases, there is no logical reason to apply for this credit card.

Barclaycard with iTunes Rewards Visa Card
This credit card is geared to those that want rewards. But unfortunately the rewards it gives are absolutely pitiful.

• 2 points per dollar spent at Apple (at their stores, online, by phone, and the iTunes store)
• 1 point per dollar spent elsewhere
• $25 iTunes gift card for every 2,500 points earn (that means you are only earning 1% rewards on regular purchases and 2% on Apple purchases)

Verdict?
Rewards worth 2% at Apple and 1% everywhere else? That’s far from extraordinary. At the time of this review there is a signup bonus of 1,000 points after your second purchase, but based on the rewards formula that bonus is only worth $10… what a joke! Hopefully someday there really will be an Apple credit card that gives rewards better than this!

How you can save 5% on Apple purchases
Do you have a Discover card? If so, then you can save 5% at the Apple Store online!

There is a special online shopping portal that is only available to Discover cardmembers. To save 5% at the Apple Store online, all you have to do is enter the store through the Discover cardmember shopping portal. You will then be given a 5% cashback bonus for your purchase made with your Discover card. When I checked here were the product exclusions:

• Offer not valid on gift wrap, gift card, gift certificate, iTunes, Apple One to One Membership, Bose products, Apple in-store tutorial services, shipping, taxes, and other service fees
• Cashback Bonus will only be rewarded to a customer for up to five (5) units per eligible product, except iPhone, in which case reward will only be issued for up to two (2) units within a 30-day period.

Conclusion? Most purchases should qualify. What an easy way to save 5% on Apple!

If you don’t already have a Discover card, then check out this Discover More review to see how it works. The fact that it has no annual fee and high rewards makes it a wise choice for your wallet.

Written or last updated Jan 2012