Sounds pretty decent for those of us in the Apple ecosystem.
Apple Card will soon let users grow Daily Cash rewards while saving for the future
@PlaidRaptor wrote:I wonder if these will be Marcus savings accounts under the hood which are paying 2.35% right now.
That's my guess.
This is set to be coming out with the iOS 16.1 update on Monday. I will definitely try it out when available!
I don't have an Apple Card though I may pick up one after I get my mortgage done.
What are the current reward options? I'm not quite seeing the benefit to this thought that may be because I don't have fees on my checking accounts as is?
I'm of the opinion that savings accounts under T-bill rates are bad math admittedly,
and inflation meh. I'm stockpiling cash for the mortgage, after which will be looking for a home for my cash reserve but sub-3% erg.
@Revelate wrote:I don't have an Apple Card though I may pick up one after I get my mortgage done.
What are the current reward options? I'm not quite seeing the benefit to this thought that may be because I don't have fees on my checking accounts as is?
I'm of the opinion that savings accounts under T-bill rates are bad math admittedly,
and inflation meh. I'm stockpiling cash for the mortgage, after which will be looking for a home for my cash reserve but sub-3% erg.
If you want, or expect, your savings account to make you some real money, then no, this account will have no benefit.
That being said, if you look at it strictly for what it is...a savings account that will have an interest rate on par with most of the other online "high yeild" savings account, it'll be a decent option FOR THOSE IN THE APPLE ECOSYSTEM WHO LIKE BEING IN THE APPLE ECOSYSTEM.
Those words are important.
I enjoy my Apple Card because of how it presents information in my Wallet app. That's it. It's not the best card out there. And I don't expect this savings account to be the best account out there. But it will incorporate into my Wallet the same way the Apple Card does, and gameify my savings account, so that's good enough for me.
Because at the end of the day, whether I am getting 2.5% or 2.75% on my savings account, it doesn't make a difference. My real money is invested.
@CreditAggie wrote:This is set to be coming out with the iOS 16.1 update on Monday. I will definitely try it out when available!
I'm not seeing it unless I'm missing something. Just updated to iOS 16.1
@sznthescore wrote:
@CreditAggie wrote:This is set to be coming out with the iOS 16.1 update on Monday. I will definitely try it out when available!
I'm not seeing it unless I'm missing something. Just updated to iOS 16.1
It was speculated that it would be available with todays 16.1 release based on some wordage in the pre-release ios build. But it wasn't a sure thing.
Apple stated "in the coming months" when announcing it, that was only a week and a half ago.