We’ve all heard that the Barclaycard Visa with Apple Rewards Card is one of the best credit cards to use at Apple. Seeing as to how much Apple products cost and the inevitable need to spend on accessories, it’s a pretty good deal from the rewards perspective.
Barclaycard and Apple have made changes in their rewards program that are exclusive on the Barclaycard Visa with Apple Rewards Card available in Apple Stores. Are the rewards still worth it?
In this article, we’ll cover the promotional offers for the Barclaycard Visa with Apple Rewards Card; what it means to apply for special financing and the terms and conditions you’re bound by when you apply for it.
Barclaycard Visa with Apple Rewards Card: The Rewards
When you make any purchase at an Apple Store be sure to charge it on your Barclaycard Visa with Apple Rewards Card. It offers the most rewarding perks of all credit cards that you can use at any Apple Store. When you charge items to your card, you’ll get:
- 3 points per $1 spent at Apple Store
- 2 points per $1 spent at restaurants
- 1 point per $1 spent on other purchases
- 2,500 points can be redeemed for a $25 Apple Store Gift Card
These rewards are reasonably, well, rewarding and live up to the Apple brand name. But what’s all the fuss about special financing?
Barclaycard Visa with Apple Rewards Card: Special Financing
The advertisement on Apple.com promotes special financing to be able to earn Apple rewards with your Barclaycard, which is classic Apple marketing to lure in a host of customers to apply for the credit card – who could possibly say no to that?
If you don’t already know, the promotional offer is that new cardholders get a 0% financing deal. 18 months of 0% APR when you sign up for the credit card and buy an Apple product of your choice. These rewards seem too good to be true, and in reality, they are.
Any rewards program on a credit card that will potentially carry a balance for some time offering rewards for dining and making other purchases isn’t a positive sign. There are two reasons you’ll want to avoid it.
- All new purchases charged to the card are applicable to a 13% (or higher) interest rate
- Failing to pay off the debt by then end of the introductory period means that the 0% APR doesn’t apply to you
Barclaycard Visa with Apple Rewards Card: New Purchases, High Interest Rates
When you make new purchases and charge them to your credit card, they will be applicable to a 13% or higher interest rate. This is only avoidable if you manage to pay off your Apple purchases (and other purchases charged to the card) in full.
This means that the promotional offer we highlighted above is a rip-off. Receiving 2 points may get you a total of $2 in rewards for spending $100 at a restaurant. Do a little math and you’ll see that it will actually cost you $120 over the course of the introductory period.
Barclaycard Visa with Apple Rewards Card: Outstanding Balance, No Deals
This promotional offer is nothing but deferred interest. If you are unable to pay off the entire outstanding balance by the end of the introductory period, not only does your interest rate go up but you are no longer applicable to the offer – which means you will be charged for all purchases since the day you signed up for the card at the higher interest rate.
A $1,300 MacBook will end up costing you $1,500 at the very least.