4%? Wow. I didn’t see the fine print but I assume it is tied to the prime interest rate? Doesn’t it have to be?
Regardless, this is pretty damn good. Cash rewards are earned almost instantly and that earning goes right into 4% savings (it’s compounded daily with each interest accrual paid monthly). For most anyone with an Apple Card earning cash back, this is a no brainer. It’s no fees.
Whatever bill you pay online with a CC, if it’s 2% cash back then use Apple Card. Then at pay time immediately have that transfer the money needed to pay this bill (which you’ll do at the end of the month). That’s potentially weeks of daily higher interest on that money.