Its rebates are hardly market-leading and a third of merchants don't accept Apple Pay
One is never easy. Plenty of candidates are attractive at first, but their charms are deceptive, or simply fade. Others for whom you pine spurn you. As with love, so it is with credit cards. Bonus offers are tempting, but also fleeting. Reward points pile up, yet linger unused. Unexpected fees sting.
This is all lovely. But the card’s financial attractions may not match its technological beauty. The lack of fees for missed payments and the transparency of its billing and interest due should appeal to people on lower incomes, who are most likely to carry credit-card debt. Goldman is willing to approve subprime borrowers. But such folk are less likely than richer people to own an iPhone—and without an iPhone, you cannot get the card.
The card does pay 3% cash when used to buy Apple products, but compared with other retail store cards this is a little stingy. Amazon, another technology titan, offers 5% back on its store card , which is issued by JPMorgan Chase. Other retailers, such as Crate and Barrel, a homewares store, offer as much as 10%.
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