Apple Card introduces a banking service for users, complete with a Savings feature that allows users to earn interest on their cashback rewards. Initially set at 4.15%, the rate has fluctuated, currently sitting at 3.65%, its lowest yet. Though this is a decline, it still stands well above the national average interest rate for savings accounts, which is a mere 0.59%. Customers can maximize their returns through cashback programs, with interest being compounded daily. Users can transfer their Daily Cash rewards into the Savings account for added interest benefits.
Apple Card introduced a Savings feature, allowing users to earn interest on cashback, with the current rate at 3.65%, significantly above the national average APY of 0.59%.
Despite a decrease to 3.65%, the Apple Card Savings rate remains attractive compared to the national average, benefiting from cashback programs and daily compounded interest.
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