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Apple Card — Why I'm NOT using it and 3 cards that are better - YouTube
Channel: Dave Hanson / Hey there, Dave here.
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Hey there, Dave here. This is a video I've
been wanting to make ever since Apple
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announced their new credit card, the
Apple Card. This card looks amazing. It
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has some really neat features. It's
something that I was like, yeah I'm
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immediately gonna get one of those. First
of all, I'm a complete credit card nerd. I
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literally keep a spreadsheet comparing
the various rewards and benefits. And I
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have a bit of a problem: these are all
active credit card accounts. I do pay my
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balance off every single month. I just
use these things for the rewards. I love
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everything Apple when they announced
they were coming out with the Apple Card,
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I knew that I was going to get one. Nerd
alert: I do know a lot about credit cards
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and I probably like to talk about it
more than most people like to listen. So,
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I will have a summary of what I'm going
to say at this time code right here... and
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I'll also show you a graphic that you
can take a screenshot of and save it to
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help you decide which card use in
which situation. My goal here though is
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to make things completely simple. I
actually only use three credit cards and
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I only carry two of them with me. The
rest of these sit at home in a drawer
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so I'm going to share with you the two
cards that I use and maybe that will
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help you too and if you like this video
hit the like button it helps other
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people find the video and I do have to
say that this is not a sponsored video
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every single website I go to that
compares credit cards is full of
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advertising disclosures because they are
all paid by the credit card companies to
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send them leads I make no money if you
choose the cards that I'm telling you
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about
I was actually updating my spreadsheet
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to add the Apple credit card once some
of the details were released and it made
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me realize that I have a lot of
information that might be useful to my
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youtube followers so let's start with
the Apple card and I am a huge Apple fan
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so no surprise I like the design of this
card it's titanium there are no numbers
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showing it looks super cool even the
activation process you hold your phone
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to the thing and it just automatically
activates Apple does things right the
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Apple cards integration into your
iPhones wallets is seamless the
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reporting and the visibility into your
spending and interest and all of
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good stuff that they're showing you I am
really a big fan of the card actually
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comes with pretty decent rewards 3% at
Apple 2% when you use Apple pay and 1%
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on everything else now I will tell you
that if you watch this video you'll
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learn the cards that I use to maximize
my cashback but if you're looking for a
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card where you don't have to think about
it the apple cart is pretty good
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but other cards can be 4 times as good
would you rather have $100 back or $400
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back one cool thing about the card
though is when you do earn that cash
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back you get it instantly every single
day where other cards you collect and
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then you have to redeem and it's done on
a monthly basis so from Apple you get
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daily cash right away it goes straight
into your iPhone on the cash card
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incentivizing people to actually use the
cash card and instead of competing
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services like venmo or PayPal or squares
cash I really like that the apple cart
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has no annual fee and they've taken that
to a level that I have not seen on a
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credit card ever it's no annual fee but
it's also no cash advance fee no
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transfer fee no late payment fee there's
no missed payment fee you pay the
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interest but there's no fees for using
this card at all most of the cards that
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I have charged a fee at least for cash
advances not with Apple so with the
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apple cart obviously you have an amazing
design you have a really slick
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integration with your iPhone you have
decent rewards and you have no fees so
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why not use it all the time well I'll
tell you I absolutely love the design
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but every single time I pull it out of
my wallet and use that card it costs me
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money because using the physical card
earns you the lowest cashback of 1% you
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can literally make four times as much
with zero effort by simply using a
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different card the Apple cards 2% cash
back for using Apple pay is actually
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really good but every other card I have
is compatible with Apple pay and all of
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them will pay at least 2% now the 3%
cashback at the Apple store is probably
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the one place that I actually will use
the Apple card and you actually buy
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stuff from Apple way more than you may
realize yes there's Apple products but
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there's also apps and in app purchases
and iCloud storage and all kinds of
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stuff I'm constantly paying Apple for
things 3% cash back
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is a really good rate and it's higher
than the other cards that I typically
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would use to pay for Apple products so
yes Apple card you win there but when it
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comes to actually buying Apple hardware
you may want to actually consider not
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using the Apple card because a lot of
cards will automatically double the
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manufacturer's warranty
the Apple card does not do that so does
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doubling the warranty and losing one
percent cash back pay for itself
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Apple cares a couple hundred bucks using
that other card might cost you ten bucks
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but ten bucks cheaper than a couple
hundred bucks something to think about
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my goal is to not have you end up with a
wallet full of credit cards I actually
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don't use most of these I use three
credit cards two of which I carry with
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me and one that I use online all of
these cards are cash back cards because
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the whole point system has just gotten
way too complicated all of these cards
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are no annual fee and today I'm not
factoring in signup bonuses and I'll
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tell you why in a minute if all of this
is too much I'm going to show you a
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graphic right now that summarizes
everything you need to know without
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knowing all of the rationale behind it
so just take a screenshot of this file
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it away in your camera roll and refer to
it whenever you're trying to figure out
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which credit card to use but if you do
want to know why I've got a lot to cover
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so I'll go as fast as I can use that
rewind button if you miss something
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let's go I may have a handful of cards
but I actually only use three of them I
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don't want one card for gas another card
for groceries a different card for
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hotels another card for department
stores way too complicated I've done
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that and there are category specific
cards that let you maximize your points
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and your percentages it's just not worth
it it's too complicated let's simplify
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alright so which cards do I actually use
as I mentioned I'm sticking with cash
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back the whole point system has gotten
so complicated every time I use points I
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feel like I'm getting a bad exchange
rate Membership Rewards thank you points
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bond voice of merican miles it's too
much and I'm not factoring in signup
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bonuses because while they're great that
goes away and I'm looking for cards that
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have the best ongoing value also you
want to be careful when you sign up for
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a lot of cards because if you sign up
for more than five cards in 24 months
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that seems to be the number that credit
card companies flag is being to men
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you'll start to be declined even if you
have perfect credit all of the cards
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that I'm talking about today and that I
actually use have no annual fee because
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even a ninety five dollar annual fee
wipes out a lot of rewards benefits when
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you're talking about cashback so decide
what's best for you I'm sharing what
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works for me I probably spend more on my
credit cards than most people which is
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why this is super important and I'm very
passionate about it so without further
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ado here are the three cards that I
actually use starting with the city
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double cash card this card is awesome it
pays 2% cash back on everything you buy
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no categories it works with Apple pay so
you get the same 2% that the Apple card
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would give you but it always works you
can use the plastic card and you still
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get the 2% there are no categories to
remember no limit to the cashback that
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you can earn this used to be my
no-brainer card but effective September
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22nd 2019 they're removing a lot of the
benefits from this card so now the cash
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back is still good but everything else
the removing is not as good oh and the
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biggest gotcha on the city double cash
card is they charge a foreign
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transaction fee of 3% do not use this
card traveling internationally there are
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better cards for you including the one
I'm going to be talking about next but
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this basically is your everything else
card everything except restaurants
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except travel and accept products that
you want an extended warranty especially
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those that you buy online and when it
comes to buying online the second card
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that I recommend Amazon Prime card
this isn't titanium like the Apple card
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but it's definitely not plastic it's
some kind of metal and it gives you 3%
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back on all of your Amazon purchases but
if you're like me and are a frequent
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Amazon shopper I assume you're also an
Amazon Prime member and for Prime
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members you get a full 5 percent cash
back on everything you buy from Amazon
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no-brainer you need this card I don't
carry this in my wallet to even use it
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as a prop in this video it took me about
30 minutes to find where I had stashed
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it away but this is the default card in
my Amazon account if you're a credit
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card nerd like me you know that this
card is a Visa signature card which
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means it comes with some
purchase protection benefits that
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includes doubling the manufacturer's
warranty on everything you buy up to one
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year and if something gets damaged or
stolen in the first four months this
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card covers it up to five hundred
dollars up to fifty thousand dollars per
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year that's a good benefit the car does
not have price protection and Amazon no
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longer offers price protection either
meaning if you buy something and find a
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lower price later the cards not going to
help you out Amazon's return policy
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might but this card also doesn't have an
extended return period so you're stuck
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with Amazon's
standard 30-day return policy so bottom
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line this is your Amazon only card
you'll get 5% back every time you use it
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at Amazon it's also good for 5% back at
Whole Foods so here's what I do save
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this as the default card in your Amazon
account and then also add it to your
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iPhone wallet you can use this at Whole
Foods and then you don't have to carry
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this car it does give you one percent
cash back everywhere and two percent at
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restaurants but I have a way better
restaurant card which brings me to
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number three the uber card from Barclays
Bank this card gives you four percent
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cashback at all restaurants and bars so
don't whip out that fancy titanium Apple
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card just to show off your status symbol
when you're splitting lunch with friends
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you'll know that you're earning four
times as much as people using the Apple
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card at a restaurant and it includes all
restaurants from high-end expensive
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restaurants to casual to fast food to
delivery they specifically say uber eats
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which makes sense I know for a fact that
you get four percent back using door -
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probably some other delivery services as
well and it gives you four percent back
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at all bars and it's four percent of the
entire amount including tax and tip the
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uber card also has some good purchase
benefits if you want some of the
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benefits that are missing from the
Citibank 2% card this card pays you 2%
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back on online purchases and 1% on
everything else but it does include some
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of the purchase protection benefits it
includes an additional year of warranty
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it includes covering items from being
stolen or damaged for three months
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instead of four like Amazon but for the
same $500 per item up to 50
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dollars per year per accounts it also
includes some things that Amazon does
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not have like price protection that's
limited to 250 dollars per item up to 4
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times per year and it includes one other
thing it includes it extends the return
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period for 90 days up to $500 per item
up to $1,000 a year this card is also
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very good for travel now if you have an
airline or hotel card that you like
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their points that you find value in it
by all means keep using that card use
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this as your backup when you're not
flying on that airline or not staying at
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that hotel this card will give you 3%
back on all airfare all hotels and that
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includes Airbnb and that includes things
booked through sites like Expedia or
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other travel agencies if those still
exist interestingly it does not give you
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3% back for uber or lyft it only gives
you 2% there because it considers those
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online purchases it only gives you one
percent for taxis it gives you one
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percent and other travel related
categories that you might have assumed
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would have been considered travel like
renting a boat or taking a bus those are
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all 1% purchases unless you can buy them
through a travel agency at which point
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you'll get 3% this card also comes with
some travel benefits that I typically
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associate with cards that have an annual
fee and the uber card is no annual fee
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if you check bags on an airline and the
bags are delayed they will reimburse you
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up to $100 per day for items you need to
purchase while you're missing your bags
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they will also refund up to $1500 per
person if a trip is cancelled or
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interrupted and that includes you
getting sick and not being able to go on
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the trip and this card has no foreign
transaction fee either so it's perfect
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for international travel
so bottom line think of the uber card as
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your restaurant bar hotel and airfare
card and that's it these three cards are
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really all you need and these two cards
are the only ones you need to keep in
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your wallet use the Amazon card on
Amazon for 5% back on everything you buy
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also use it at Whole Foods use the uber
card not for uber but for bars
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restaurants hotels and airfare and also
purchasing products that you want an
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extended warranty on that you didn't buy
at Amazon
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and then use this card for everything
else it's really that simple so win
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should use the Apple card use the Apple
card on all of your Apple purchases
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unless you're buying hardware and you
want it extended warranty and you don't
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want to buy Apple care
simple enough thanks for watching I
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think that's it it's a pretty simple way
to maximize your benefits without having
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to carry a ton of cards without having
to think about which card to use when
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there are three cards to use let me know
in the comments if you found this
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helpful also hit that like button
because it lets other people know that
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this was a good video let me know what
you think about my strategy in the
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comments I could talk about credit cards
all day I feel like I've done just that
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hopefully I've edited this down to
something that was watchable I make
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videos all the time on YouTube. I'm also
on Instagram and Facebook and Twitter.
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Check out some of my other videos. If you
like what you see, subscribe, come back
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for more. I'd love to have you. I'm Dave
Hanson... I will see you next time.
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