Also best for Costco Shopping
Do you know Apple has a credit card? It offers 3% cash back when you shop at Apple;2% cash back when you use apple pay;1% for everything else. Many people love this card for 3 reasons:
- 3% cash back at Apple is a very high cash back
- 2% for apple pay is also promising.
- No annual fee.
However, this card has a very small or Zero welcome bonus. As I said before, the welcome bonus is a boost for our revenue from credit cards. Missing the welcome bonus is a huge disadvantage for Apple cards.
For example, the Bank of America Customerized Cash Reward card has a $200 welcome bonus. you can choose one category every month to earn 3% cash back for up to $2500 spending, from gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. You can choose online shopping as your category, and buy Apple products from Apple.com to enjoy 3% cashback. This card also doesn’t have annual fees.
Another card is US bank Reserve Altitude Card. It does have a $400 annual fee, but you can have an annual $325 credit card for travel purchases and dining, takeout, and restaurant delivery purchases. For me, this credit is worth $325 fully, so the equivalent annual fee is only $75. And I can have 10000 points for retention offer almost every year, which is $100 at least. Therefore, it is almost like Zero fee to hold this card.
The best thing for Reserve card, is you can not only earn 50000 points for sign-up, also you can earn unlimited 3X points for mobile wallet, including Apple Pay, and Google Pay. You redeem 1 point for 1 cent as cash or 1.5 cents for travel spending. This conversion ratio, makes the highest earning potential From Apple pay to be 4.5%. If you know that Costco accepts Apple pay, you will understand that use this card, you can earn up to 4.5% cash back at Costco!! No other card can beat it!
That’s the reason why I am holding these 2 cards forever and don’t need to apply for the Apple card.