Nathan Grant, a Credit Industry Analyst from Credit Card Insider wraps up April - Financial Literacy Month - with the biggest announcement...the Apple Card. 

What are the most unique benefits to using the Apple Card?

Because the Apple Card is on your iPhone in the Wallet app, there are some great features to make sure you stay on top of your finances without the need to download a separate app that handles these specific functions.

  • Everything you buy is categorized and colored by the type of purchase made and these colored categories show up in your spend summaries. This makes it easier than ever to see how you are spending your money.
  • If you see a questionable charge you don’t recognize, it will show you specifically where it was processed on a map and you will know you weren’t the one who made it.

What makes the rewards program that the Apple Card offers different from rewards programs offered by other cards?

When you buy something using the Apple Card, you get a small percentage of your purchase back that day. The cash back is instantly deposited back into your Apple wallet.

  • Unlike other rewards programs, this money is available to be spent or transferred to another account right away. These are small percentages, but the instant satisfaction of having it go directly to your Apple wallet each day on the purchases you make is a pretty cool perk.

What are some lesser known credit card benefits?

  • Your credit card could provide free and better car rental insurance than directly from the insurance company or a travel agency.
  • Price protection is a benefit that could allow you to be reimbursed for the difference in price if an item is later advertised for less
  • Some issuers offer single-use “Virtual Credit Card Numbers” that allow you to make online purchases without compromising your actual credit card account in the event that an online merchant has a breach.
  • Credit cards often provide more security than when using a debit card for purchases, online or in-store.

Choosing the best rewards cards, and what criteria makes a rewards card best for you is here