Backed by Goldman Sachs and carrying a Mastercard logo, it will debut this summer. There’s no waiting to get your hands on it – as soon as it’s earned, you can start using it. Make sure you have the credit score to get approved for it. Apple is making the application process incredibly simple. Box. However, if they do keep the no foreign exchange fees, you’re looking at a great card for those transactions. Backed by Goldman Sachs and carrying a Mastercard logo, it will debut this summer. And while no foreign exchange fee cards are rare in Canada, they are very common in the U.S., so this isn’t that much of a differentiating feature either. The fits the bill. Select Apple Card and tap Continue. Apple and Goldman Sachs, two of America's premier high-end brands, are in the subprime lending business. creditcardGenius is the only tool that compares 126+ features of Canadian credit cards using math-based ratings and rankings that respond to your needs, instantly. "Goldman was willing to take a little bit of a risk here. Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of Canadian credit cards. Plus, you get 3% back by using the Apple Card with Apple Pay at select retailers, such as Walgreens, Uber and Duane Reade, and 2% by … Additionally, Goldman Sachs can factor in other details of your credit profile when determining whether to approve you for the card. If you have a freeze on your credit report, you need to temporarily lift the freeze to apply for Apple Card. Not to mention it’s all for no annual fee and low income requirements of $15,000 personal. As the new Apple Card begins to roll out, some of its first members have no credit history or below-average credit scores. Make sure to always pay your bill on time as late payments can be recorded as a negative mark on your credit history. This cash back Amex has a flat earn rate of 1.25% cash back on all purchases, giving you a solid return on your spending for no annual fee. Apple assumes no responsibility with regard to the selection, performance, or use of third-party websites or products. So it’s not available to everyone. Enter Here to Win a MacBook Pro, iPad Pro and More. Like other credit cards, the Apple Card has a high interest rate for people who carry a balance. Want to earn more on your daily purchases? And for an annual fee on $120 (that’s waived for the first year) and income requirements of either $60,000 personal or $100,000 household, you have a great cash back card on your hands. For example, no specifics are given about its approval requirements and there is no mention of an initial bonus. Well, if this were the offer here in Canada, you’d be looking at a top cash back card. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Contact Us • Unsubscribe • Notifications • Meet the Team • Newsletter • Write for Us • Store Support • Report-a-Bug. Looking for a great cash back card with no income requirements? The application process is also unique. Amex Cobalt Vs. Amex Gold – Which One To Keep? All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. If you choose not to share additional information, Goldman Sachs is unable to approve your application. "There would have to be a lot of defaulting on the debt before this can become a big problem for Goldman and it doesn't appear that that's where they are going. Posted by creditcardGenius Team | Sep 14, 2020 Last updated: Sep 14, 2020. It also has some other unique features. But that doesn’t mean we can’t speculate on when it may be coming north of the border (if at all), or if it’s even a worthwhile offering. Study: The Dollar Value Of Your Credit Card Insurance Coverage, What Are Your Credit Card Benefits Worth? A Study, Study: Credit Card Trends In Canada During COVID-19, Credit Score In Canada: What These 3 Digits Say About You, The New Aeroplan Rewards Program: The Good And The Bad Of The Upcoming Changes, Best Instant Approval Credit Cards In Canada ‒ From No Credit To Excellent Credit, Best Balance Transfer Credit Card Offers For Canadians, Top Credit Cards for Bad Credit in Canada. Its features aren’t likely to be the same here either. Therefore, you'll need to make sure you have at least what is considered "fair" credit if you want a decent chance of being approved.