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Apple Card Review for Canadians

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Apple enthusiasts everywhere are talking about the Apple Card, for good reason. And while the Apple Credit Card Canada is currently unavailable, there are signs that could change soon.

Just like Apple revolutionized smartphones back in 2007 with the iPhone, it aims to reinvent the credit card with the Apple Card. With tons of features, zero fees, and a gorgeous design, it’s quickly becoming one of the most popular credit cards available.

What is the Apple Credit Card?

Apple announced the Apple Card — its first credit card — in 2019 with the goal of reinventing how credit cards work for consumers. The card is designed to work seamlessly with your iPhone, has no fees, and comes with built-in tools to help customers pay less interest.

The Apple Card boasts strong security features and a decent cash back program, with 2% unlimited daily cash back when you use the card with Apple Pay via iPhone or Apple Watch.

Apple Card

Apple Card

Rated 4.8/5 stars.

  • Welcome Offer N/A
  • Annual Fee $0
  • Interest Rates 15.74% to 26.74%
  • Recommended Credit Score 660+

Is the Apple Card available in Canada?

At the time of writing, the Apple Card is not currently available outside of the U.S. There are signs that something is brewing, however, as a trademark for the Apple Credit Card Canada was registered back in May 2021.

It may just be a matter of time until Apple finds a Canadian banking partner that can issue the Apple Card to Canadian customers.

Features of the Apple Card

The Apple Card doesn’t just look the part — it also comes with several features that make it a competitive option for a credit card.

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Easy application: Apply and get credit approval in a matter of minutes via the Wallet app.

No fees: The Apple Card has no fees, including annual fees, and foreign transaction fees. Late or missed payments will result in additional interest accumulating.

Security: Advanced security features such as Face ID and Touch ID.

Daily cash back: Earn 3% unlimited daily cash back on Apple products, 2% with Apple Pay, and 1% on all other transactions when you pay with Apple Wallet.

High-yield savings account: Save your daily cash back in a 4.15%-interest savings account (rates accurate as of April 17, 2023).

Real-time accounts: Get real-time updates on your purchases, balance, payments, and interest to help you better manage your money.

Apple Card family: Share your Apple Card with a co-owner and merge credit lines with a partner.

Apple Card monthly instalments: Use your card to make interest-free payments on new Apple products purchased via the Apple Store.

24/7 customer support: Have your questions answered by text or phone at any time.

Plastic free: The Apple Card is made from titanium, making it feel and look unlike any other credit card.

How to apply for the Apple Card

Applying for the Apple Card is quick and easy, and can be done from your Apple device. Here’s how to apply from your iPhone:

  1. First, make sure you have downloaded the latest version of iOS.
  2. Open the Wallet app and tap the + button.
  3. Select “Apple Card,” then hit Continue.
  4. Complete your application.
  5. Review and agree to the terms and conditions.
  6. Accept your offered credit limit and APR.
  7. Request a physical card.

Your application is subject to credit approval. You won’t see a hard inquiry on your credit report until you accept the offer for your Apple Card. Once you do that, your credit score may dip temporarily.

Fees and interest for the Apple Card

One of the strongest Apple Card features is its lack of fees. With zero fees, as well as access to a high-yield savings account, Apple Card users have a great opportunity to maximize their savings.

On the other hand, the interest rate you’ll pay each month will be determined by your credit profile as well as the type of purchases you make.

The Apple Card comes with a variable APR ranging from 15.74% to 26.74% based on creditworthiness (rates as of April 1, 2023).

Pros and cons of the Apple Card


  • No fees

  • Flexible credit limit

  • Up to 3% daily cash back

  • Add daily cash back directly to your Apple Cash Card or savings account

  • Strong security

  • Real-time money management tools


  • Currently unavailable in Canada

  • No welcome bonus

  • Lack of a strong rewards plan

  • 2% daily cash back limited to Apple Pay

  • 3% daily cash back limited to Apple products (if you want a card that allows you to make large purchases beyond Apple products, there are other cash back credit cards that might be a better fit.)

Best alternatives to the Apple Card

While the Apple Card is still unavailable in Canada, there are several credit cards for Canadians that will make a good alternative.

An image of the KOHO prepaid credit card.


Rated 4.8/5 stars.

  • Welcome Offer N/A
  • Annual Fee $0 (Easy); $48 (Essential); $108 (Extra); $228 (Everything)
  • Regular APR/Interest rates Prepaid
  • Recommended Credit 300+

If you’re looking for a low-risk card with no fees, the KOHO Mastercard is a great option. You’ll earn 0.5% on all applicable purchases, and because it’s a prepaid card, you don’t need to worry about high interest rates.

Rated 4.8/5 stars.

The Neo Money Card is another great alternative. This is a high-rewards prepaid debit card, with a high-interest savings account that allows you to grow your money.

Rated 4.8/5 stars.

Wealthsimple’s Cash Card offers 1% cash back on all purchases. Your cash back funds can be converted to cash, or used to fund your investments in stocks or cryptocurrency.

Is the Apple Card worth it?

Apple Card owners who use Apple Pay on everyday purchases will benefit most from the daily cash back rewards.

While the Apple Card does offer an enticing set of features for iPhone users, there are other cards out there that offer similar rewards.

Frequently asked questions

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