Can I repay my Apple Card with Balance Transfer?

It’s easy to see why Apple cards* are so popular. Cardholders do not pay annual fees, foreign transaction fees, or deferred fees, but still have the opportunity to make money.

• 3% cashback when shopping with Apple and selecting merchant when paying with Apple Card and Apple Pay
• 2% cashback on other purchases using Apple Cards with Apple Pay
• 1% back on physical cards or all other purchases made online

However, if you dive into the Apple Card Terms of Use from Goldman Sachs, you will notice one interesting omission. Apple cards do not have APR or balance transfer fees. This is because this card does not allow balance transfers at all.

But can I transfer the balance of my Apple card to another card? The answer is complicated. If you’re wondering how to repay your Apple Card with Balance Transfer, what you should know.

Can I transfer my balance from my Apple card to another credit card?

Officially, no, it appears that Apple cards do not support balanced transfers. Cardholder reports vary, but you can read the real user experience on locations like Myfico Forums and Reddit. The consensus is that it may be possible to transfer the balance of an Apple card to another card, but the results are inconsistent.

It appears to come down to what Apple considers as “nonconforming payments.” This is what Apple is saying about payments that it considers to be non-compliant in its cardholder agreement.

However, Apple reserves the right not to accept balance transfers from Apple cards. Just accept the payment methods outlined, such as submitting online payments, paying via the wallet app, or having conversations with Apple experts.

If Apple accepts payment methods that are not listed as cardholder options, you may be able to close your account. If a payment is sent and marked “Full payment” then that doesn’t mean Apple will accept the transfer. Rather, the issuer still reserves the right to pursue full repayment.

One Editor’s Success Story

Bankrate’s credit card editor Alice Lesperance successfully completed her Apple card balance City Double Cash® Card But I wasn’t optimistic about it going well:

Below, the amount of the transfer was charged to the City Card in Lesperance as a balanced transfer, but appears as “offline payments” at the end of Apple in the wallet app.

Lesperance’s experience was relatively simple, but other cardholders report mixed results, such as long waits for balance transfers and error messages when attempting to transfer. However, if you have a great balance with your Apple card each month, it’s definitely worth trying.

How to avoid balanced transfer with Apple Card

Although Apple cards do not explicitly allow balance transfers, there may be some workarounds you can try. Again, the results may differ. If you can pay back your Apple card using an alternative method instead, we recommend trying it first.

1. Open a new Balance Transfer Credit Card. If possible, it would have positive outcomes for this process.
2. Contact your new credit card issuer and request a check made by Goldman Sachs (your Apple card issuer) for the amount you owe.
3. Make sure the email address or phone number associated with your Apple Card account is in the Memo line in the Check.
4. Do not use your Apple card for other purchases while waiting for your check to be mailed.
5. Once you receive your check, use it to repay the balance on your Apple Card Statement.
6. Start payments on time with a new balance transfer credit card.

Another way to repay your Apple Card

Ultimately, Apple has no control over how you can pay off your balance with your credit card. If you have debts on your Apple Card, you prefer integration, and if you are unable to complete your balance transfer via standard processes, here are some workarounds to consider.

Write your own balance transfer check

Although it may not be possible to sign up for a Balance Transfer Card to transfer balances in the traditional way, a Balance Transfer Check can help you transfer balances in additional steps. If you have approved a balance transfer credit card that offers a balance transfer check, you have the option to complete the check that was paid to you. Using this strategy, you can write a check on the amount of debt you want to consolidate from your Apple Card, then simply repay your Apple Card balance using the same funds.

Keep in mind that even the best balance transfer credit cards will charge a balance transfer fee of 3% to 5% of the liabilities you transfer. This fee starts with a balance transfer check that you write to yourself and adds 3 or 5% to the new amount you owe.

With that in mind, choose a balance transfer credit card that offers a 0% APR period for the longest possible time. Your interest savings are worth paying the balance transfer fee.

Take out debt settlement loans

You can also consider consolidating your debts on a personal loan. This will help you avoid building up more debt. Personal loans have a low fixed interest rate, a timeline for fixed monthly payments and fixed repayments. So you know exactly when you’re going to pay off your debt.

When you issue a personal loan, you pay the amount upfront. Once you deposit your loan proceeds into your bank account, you can use the money to repay your Apple Card and begin paying off your loan.

Before you borrow money, compare your personal loans to find the best option for your needs and budget. Personal loan rates can be lower at 6.6% for consumers with large credits, and many personal loans include no application fees, original fees, or hidden fees.

Conclusion

If you feel frustrated that you can’t pay back your Apple Card the way you want, then you have some workarounds to consider. However, you could also start thinking about your Apple Card in the longer term and move to another card, perhaps for daily spending.

While Apple cards offer lucrative rewards when used to complete a purchase through Apple Pay, many other reward credit cards can manage your debts the way you want – and manage your debts without all red tape.

*Information about Apple cards is collected independently by Bankrate. Card details have not been reviewed or approved by the issuer.