It's 2% cash back on Apple Pay, 3% cash back on Apple products, and 1% cash back on non-Apple Pay, non-Apple products.
Do you know a better card that always gives 2% cash back, no cap?
Do you know a better card that always gives 2% cash back, no cap?
Citi DoubleCash is 2% on everything, dunno if there's a cap, no annual fee. (you have to redeem into a bank account, not as statement credit, to get the full 2%)
USAA Limitless is 2.5% cash back on everything, no cap. (military only, no longer available), no annual fee.
If you have enough cash invested with Merrill Edge ($100,000, including IRAs) the Bank of America Travel Rewards earns 2.625% cash back on everything, not sure of a cap, no annual fee.
If you value Membership Rewards at more than a cent, the American Express Blue Business Plus earns 2 Membership Rewards per dollar spent on everything, $50,000 cap, no annual fee.
Discover IT Miles earns 3% cash back on everything the first year, churnable (you can get a new one every year), no cap, no annual fee.
Alliant Credit Union Cashback Visa earns 3% on everything the first year and 2.5% after that, $60 annual fee (waived the first year), dunno of a cap.
Capital One Venture is (basically) 2% cash back on everything, $95 fee (which they usually waive if you ask),no cap. Only redeemable towards travel. Has a fairly large signup bonus.
Barclaycard Arrival Plus is 2% on everything, $95 annual fee, not sure of the cap. Only redeemable towards travel. Has a fairly large signup bonus.
Paypal Mastercard is 2% on everything, no annual fee, dunno of a cap.
Those are your basic options for no-fuss 2%+ cash back cards. If ApplePay is required to earn 2%, then I'd say the majority of those cards are better; my biggest expenses every month are bills (phone, internet, insurance, oil, electricity, etc) and I don't think I can use ApplePay to pay any of those.
I had to look this up - seemed way to good to be true - based on this site [1], it's "Discover: 1.5 Miles per $1 spent on all purchases."
All your other references check out - the Alliant seems very interesting. Fidelity requires a Fidelity bank account - too much effort.
However, I am guessing Apple made a lot of hay with the "no late fees" - and really identified their target market (ie, not necessarily you & me).
[1] https://www.discover.com/credit-cards/compare/?srcCode=GAX5&...
https://www.discover.com/credit-cards/resources/earn-more-re...
>With Cashback Match, Discover automatically matches all the cash back new cardmembers have earned at the end of their first year on their credit card.1 Discover will apply the match after the first 12 consecutive billing cycles, within the following one or two billing cycles.
At the end of the first year you can apply for a new one and get cashback match again for another year. You can hold two Discover cards at once, so the third year you'd have to close the first card, before applying for a third and at the fourth year close the second, and so-forth (people talk about actually doing this, not worth the hassle for me, and I got the USAA Limitless 2.5% card)
As for a Fidelity account - a Cash Management account has no fees and no minimums and is a useful account to have (offers ATM reimbursements)
It was labeled as an "online-only pilot" and it was rolled out state-by-state, though I'm not sure all 50 were ever all covered. Then they took away some states and then discontinued it completely. Guess it really was just a pilot program. Was available for maybe around a year?
Best part of the card is that you can redeem any amount of cash (no minimum) and you can redeem it right away, even before the statement closes.
You have to consider, for Fidelity Visa the foreign transaction fee is 1% and the cashback is 2%. So you can say it has cash back of 1% overseas and 2% domestically; which is a better deal for the vast majority of people than 2% on ApplePay and 1% on non-ApplePay. The only person who comes out ahead with the Apple card is someone whose parents pay all their bills and they spend most of their time on overseas vacations in a country where ApplePay is widely accepted.
But even for that person, PayPal Mastercard is objectively better. USAA Limitless also doesn't charge foreign transaction fees so it is also objectively better. (assuming you already have it - its military only and closed to new signups)
Not only that but the Uber card is pretty much objectively better as well; it earns 2% on ApplePay with no foreign transaction fees or annual fees and earns more than 2% on much more than just Apple (4% at restaurants, 3% on hotels and airfare, 2% on other "online purchases", $50 statement credit on streaming services if you spend more than $5,000/year).
Fidelity also has a sign up bonus sometimes and very frequent targeted spend bonuses (it remains to be seen if Apple can compete in those areas, but they probably will just rely on their branding and loyal fanbase). I've gotten hundreds of dollars in extra cashback from Fidelity's targeted spend bonuses.
There's also no foreign transaction fee on the Bank of America Travel Rewards, though, like I said, it requires a Merrill Lynch account (including Merrill Edge) with $100,000 invested in it to earn the highest rate of 2.625% cash back.
It doesn't always give 2% cash back, it only gives 2% cash back for places that offer Apple Pay. A significant portion of my CC chargers are at places that don't offer Apple Pay.
If you want straight cash it's 1.5%.