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Which Credit Card Rewards Can be used for Apple Purchases?
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(image: https://i.ytimg.com/vi/BiZrX9hPWEI/hq720.jpg)Which Rewards Credit Cards Can Be Used for Apple Purchases?
A lot of issuers let you redeem points in exchange for Apple merchandise and gift cards. While it might not offer the best value, using points could help you save money.
by Craig Joseph Lead Writer | Credit cards, Travel rewards, Personal financial Craig Joseph is a NerdWallet chief writer and credit card expert. He holds degrees in geology from West Virginia University and oceanography from Oregon State University and has been published in academic journals, newspapers and blogs. Craig is passionate about personal finance and is determined to improve his financial knowledge of everyone he meets. He'll probably also try to convince you why rocks are cool.
Updated Dec . 19, 2022 at 9:08AM PST
Editor: Erin Hurd Assistant Assigning Editor Credit cards, rewards financial planning, personal finance Erin is an expert in credit cards and travel rewards expert at NerdWallet. She has spent more than two decades showing readers unique methods to increase their investment and personal financial resources. Before joining NerdWallet, Erin worked on many magazines and newsletters in the areas of investing, health, business and travel for Agora Publishing. Her passion for travel has led her to develop a love for loyalty and credit card rewards to subsidize trips, and she loves to teach others how to make use of the power of credit card rewards. When she's writing or editing, Erin is planning her next adventure for her four children using points and miles. She is based in Baltimore, Maryland.
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If you're shopping to purchase an Apple product and have points that are accumulating dust, using points towards a purchase might be a great way to keep some cash in your wallet. But, you should be aware that the points might have greater value when redeemed for travel.
A list of reward programs that allow redemptions for Apple products and gift cards are listed below.
In cases where you can redeem points to purchase gift cards at the same time that you can for money back, or even a credit to your statement, it's probably better to buy the Apple product in full and then use the points to pay back. In this way, you'll earn rewards on the purchase, and also receive benefits that you won't get when you purchase using a gift card.
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Credit card reward program
The value of the points on merchandise, expressed in cents
Gift cards point value in cents
Chase Ultimate Rewards(r)
1.
1.
U.S. Bank(r) Reward
0.85.
1.
Pentagon Federal Credit Union (PenFed) Rewards
0.6-0.8.
0.85.
Barclays Rewards
0.3-0.5.
0.5.
American Express Membership Rewards
N/A.
0.85.
Capital One Rewards
N/A.
1.
Citi ThankYou Points
N/A.
1.
Credit Card Rewards from Bank of America
N/A.
1.
Nerdy Tip
It earns Apple Cash which can be used for purchases at any retailer, not just Apple or for cash deposits into the bank account. It's really a cash-back card, so it isn't listed on our list.
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1. Chase Ultimate Rewards(r)
The program offers the best value of any rewards system for redemption toward Apple products. Points are worth one cent apiece for both gifts and merchandise. That means 10,000 points are worth $100.
However, frequent use can boost the percentage of redemption for products by 10%, 25 percent, or even 50% depending on the type of card you're using. If you are able to delay your purchase till one of the offers is accessible, you'll get more value from your points than you would for a statement credit card or an Apple gift card.
If you don't have enough points to pay for a purchase via The Ultimate Rewards(r) portal, Chase will let you use any points you've earned (as as long as they pay for a minimum of 20% of the total amount) and then charge the rest of the cash balance to your card.
However, note that these options are lower than the NerdWallet puts on Chase Ultimate Rewards(r) when transferred to travel partners instead.
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2. U.S. Bank rewards
U.S. Bank rewards earned through these cards Altitude and FlexPerks card suites can be used to purchase Apple gift cards and merchandise.
The redemption of merchandise is possible through the Apple Rewards Store within the U.S. Bank Rewards Center and where points cost about 0.85 cents per piece based on retail prices in the Apple store. That means 11,764 points are worth $100 when exchanged for goods.
However, when they are redeemed for gift cards, points are worth 1 cent each. Cards are offered in increments of $10, $25, $50, and $100. It means that 10,000 points will be worth $100 when used to purchase gift cards. Some limited-time offers may offer more favorable rates for redemption than this.
U.S. Bank rewards are worth 1 cent apiece when they are redeemed for the purpose of a statement credit or a transfer to a bank. So unless there's a promotional incentive to use points at the time of your redemption, you'd prefer to purchase your Apple equipment using your credit card to earn rewards on the purchase and then making use of your points stash to cover the cost with a statement credit. It also provides you with the benefit of being able to shop at any retailer -- not only through Apple.
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3. Pentagon Federal Credit Union (PenFed) Rewards
PenFed provides two credit cards that earn points redeemable in exchange for Apple merchandise and gift cards.
As of October 2022, the redemption of merchandise can be made by navigating to the menu and then selecting an Apple Rewards banner. Based on retail prices from Apple's Apple store, the redemptions for merchandise result in a point value of between 0.6 cents and 0.8 cents per cent.
Points are worth 0.85 cents each when they are exchanged for gift cards. They can be purchased in the denominations $25 or $50, $100, and $250. That means 11,764 points are worth $100 when redeemed to purchase gift cards.
There's no way to convert PenFed Rewards to cash, however, they can be used to make travel expenses at a cost of 1 cent apiece.
If you're looking to burn your reward on a new MacBook or AirPods, you'll benefit the most by using gift cards to redeem them, and then using them to make the purchase.
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4. Barclays rewards
Applications are currently unavailable for new cardholders looking for Barclays rewards. But legacy cardholders of any Barclays Arrival cards or Barclays Arrival cards and those who were transferred by a change in product to that of the Barclays View Mastercard are still eligible to earn and redeem rewards.
If you own such a card, you can earn rewards can be cashed in for Apple gift cards with an exchange rate of 0.5 cents per piece. That's 10,000 points worth $50 when exchanged for gift cards, which are available in denominations such as $100, $25, $100, and $250.
You may also use your rewards directly for Apple merchandise, but a gift card will generally provide greater value. Based on prices for retail directly from Apple the rate of redemption for products will vary between 0.3 cents and 0.5 cent per point.
They are far below the baseline value of 1 cent per point cardholders can earn when they use Barclays rewards to get statements credit towards travel purchases. Even if you're short on cash, you'd probably prefer to cover the cost of an airline ticket or hotel room with rewards and purchasing Apple equipment outright.
5. American Express Membership Rewards
American Express Membership Rewards can be used to purchase Apple gift cards at an exchange rate of 0.85 cents per piece. The gift cards are available for purchase in the denomination of $1, $10 $25, $50, $100 and $500. The points earned are worth $100 when you redeem them for gift cards. Like other issuers, AmEx also releases limited-time offers that increase the value of points redemptions for gift cards.
Although this rate is higher than the 0.6 cent per point cardholders receive when they redeem their Membership Rewards points for an account credit on their statement but it's still less than the baseline value of 1 cent per point by using points to book travel through AmEx. AmEx Travel portal. And if you're an optimizer, both the rates are considerably lower than the value that NerdWallet assigns to Membership Reward points when transferring on to partners for travel.
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6. Capital One Rewards
Points earned on Capital One cards (called miles) can be used to purchase Apple gift cards at a redemption value of 1 cent apiece. This means that 10,000 miles are worth $100 when used to purchase gift cards. Gift cards are offered with denominations starting at $25 $100, $50, $100, and $200. Similar to other issuers, occasionally, limited-time promotions can offer an increased rate of redemption.
But Capital One miles can also be used to purchase money back, or as a statement credit at a value of 1 cent for each point. If you're looking to purchase Apple products, you'd probably prefer to charge the purchase to your credit card and earning credit card rewards in exchange for covering the purchase price with a statement credit or cash-back redemption. Additionally, this has the advantage of being able to shop at any retailer -- not just directly through Apple.
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7. Citi ThankYou Points
They can be exchanged for Apple gift cards at a value of 1 cent each. Gift cards are available in denominations of $25, $50 and $100. That's 10,000 points worth $100 when they are exchanged for gift cards. This redemption value is equal in cashback to ThankYou points when they are redeemed directly into the bank account or for a statement credit.
Instead of redeeming points for gift cards it's better to consider buying that new Mac Mini with your credit card and earn ThankYou points on your purchase; then redeeming your ThankYou points to get an account credit to offset the purchase.
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8. Bank of America(r) rewards
Points earned through Bank of America(r) credit cards can be exchanged to purchase Apple gift cards at the rate of 1 cent per point. That means 10,000 points are worth $100 when exchanged for gift cards. These cards are available in denominations such as $25 50, $100, $150, $200, $250 and $500.
The Bank of America(r) points can also be used to purchase an account credit on a statement or a cash transfer to the account of a deposit with the rate of 1 cent each. So if you have an abundance of Bank of America(r) rewards that you'd like to use for a brand-new iPhone however, you're better off making the purchase with your credit card that earns rewards and then recouping the cost with the help of a statement credit. In this way, you can also shop around for the most affordable price and not be forced to purchase the item directly through Apple.
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The author's bio: Craig Joseph is a NerdWallet expert on credit cards. The work of his has been highlighted on The Associated Press, Washington Post and San Francisco Chronicle.
Methodology
The valuations presented herein are calculated in cents per point (cpp) when multiplying the cost in dollars of an item by 100 and dividing by the number of points required.
Valuations presented herein are based on daily points redemption rates. They do not include limited-time promotions.
All valuations of merchandise are based on prices taken straight from the Apple Store.
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