Apple Card and Balance Transfer – Be Advised

TLDR; Nope.

So, Apple Card…super easy to get approved for and it’s great to get cash back fast (as in usually posts within about a day or two to your Apple Cash card in the wallet) Those are the main…mmm, maybe only benefits. Depending on your credit score there will be an apr of something like 15-24%, so not the greatest there unless you plan to make the payments in full each month. Apple Pay is great too – very convenient and secure, and rewarded with 2% cash back.

Just be aware though they are new to banking and things are well…a work in progress…for example; balance transfers are NOT supported – not talking about transferring to Apple Card, but away from Apple Card to another bank. Had to learn the hard way, was trying to transfer to a card with 0% and the other bank approved and sent the transfer but never appeared on Apple Card and resulted in about 5 or 6 calls to both banks (including an attempted 3 way call) before I was informed by Apple Card support they don’t support balance transfers, even if that payment was made by paper check….not a great user experience. Apple, if you’re listening, how about supporting balance transfers? Seems pretty basic. From the end user experience looks like they just want to hang on to your balance to make money off the interest. Banking is complicated these days and no doubt there are lots of other factors involved but at the end of the day, let’s be real here, it’s about making money from the consumer.

So – again just to save you time, be informed that Apple Card doesn’t support balance transfers, either way. Yet. Hopefully they’ll accept some feedback on that and make some changes.


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