The Samsung Galaxy Card is a direct mirror of the Apple Card, though it has some interesting cash-back offers that might be compelling for those deep in the Samsung ecosystem.
If there has ever been a tried and true strategy from Samsung, its compete with what Apple offers by beating them on the spec sheet. The Samsung Galaxy Card does exactly that with some good cash back rates right out of the gate.
The company announced the Samsung Galaxy Card via a press release on Monday. It's launching primarily as a virtual-first card with up to 5% cash back, issued by Barclays on the Visa network.
Those that want to use a physical card will get a black metal one, though the material is unknown. The physical Apple Card is a hefty 0.52 ounces and made of titanium.
The cash back rewards system will be managed in the Samsung Wallet, similar to Apple Card. There are various cash back options available.
- 5% cash back on Samsung purchases
- 3% cash back on any virtual purchase made with Samsung Wallet
- 2% cash back on streaming service payments
- 1% cash back on all other purchases
Those are some strong offerings, though it depends on the makeup of your purchases and how you intend to use the Samsung Galaxy Card. Samsung makes everything from appliances to smartphones, but it doesn't have a broad services offering.
So, unless you're buying a lot of Samsung gear on a regular basis, the higher 5% cash back probably won't make much difference.
It isn't clear how Samsung Galaxy Card users will manage their cash back. Currently, there is a Samsung Rewards card in Samsung Wallet that ties to third-party reward programs, but there is no indication if this will be where cash back is managed.
There's also a Samsung Pay Cash card that sounds similar to Apple Cash. Again, Samsung doesn't specify if these are involved in the cash back system, but the company does at least have options.
Apple users get their cash back daily and can add it directly to an Apple Cash card or Apple Savings account. For comparison's sake, Apple's cash back offerings are as follows:
- Occasional partnerships get as much as 6% cash back from brands like Nike
- 3% cash back from Apple and select merchants, which currently include Ace Hardware, Booking, ChargePoint, Exxon, Hertz, Uber, Uber Eats, Uber One, and Walgreens
- 2% cash back from every purchase made with Apple Card via Apple Pay
- 1% cash back when using the physical card or a virtual number when shopping online
Any Apple product or service, including things like Apple Music or Apple One, nets you 3% cash back. Any subscription you can pay for via the App Store or Apple Pay is another 3%, while other subscriptions like Netflix are 1%.
An ecosystem choice
Samsung's CEO says that the Samsung Galaxy Card and its features are just the beginning. The company wants a piece of the fintech space, though it isn't clear why they're jumping in now.
As usual with any discussion around Apple versus Samsung in the past decade, it all really depends on the ecosystem you invest in. iPhone users with an Apple Card aren't going to suddenly switch to the Samsung Galaxy Card.
I can't judge the Samsung Galaxy Card too directly just yet, as I have no idea how managing it will be in the Samsung Wallet. It needs to have the ability to manage the cash back and monthly payments without any friction.
Samsung doesn't appear to have an equivalent of Daily Cash or Apple Savings, so it'll be interesting how users manage the cash back. Also, unless you're buying a refrigerator, smartphone, or watch, that 5% cash back bonus is rather limited.
It is great that any other purchase made via Samsung Wallet is 3% cash back. I'm not sure how ubiquitous the Samsung Wallet, formerly Samsung Pay, is online, so I have no way to compare how often you'd get the 3% cash back.
At a quick glance, I see a lot of online retailers accept Apple Pay, Google Pay, or Paypal, but I'm not sure I've ever seen Samsung Pay/Wallet broken out. Perhaps it shows up more in apps or on specific websites when using a Samsung phone.
Samsung Wallet is only available on Samsung products, not Android as a whole. So, the Samsung Galaxy Card is truly focused as a product.
Not really competing with Apple
There's really nothing about this card that suggests that Samsung is attempting to draw Apple Card customers away. It's a neat offering, but faces an uphill battle for even the most devoted Samsung user.
Apple Card works best for Apple users
Since Samsung Wallet is required, it means users might have to use multiple wallets or abandon the more ubiquitous and useful Google Wallet. The higher rates might be compelling on paper, but like all inflated Samsung spec sheets, the real-world performance is what matters.
I'm covering this on AppleInsider if only because it is an interesting entry in Samsung's offerings. I've already seen multiple outlets categorize this as an Apple Card competitor.
Given my analysis here, I'm not sure how anyone would come to that conclusion.
Apple Card was kind of frozen in time with its 2019 offering after Goldman Sachs seemingly gave up on consumer credit cards by 2023. Apple landed on Chase as the new issuer and that transition should be complete sometime in 2027 or 2028.
I'm curious if Apple Card will see new cash back rates and more bonuses under Chase. There are certainly better credit card reward programs out there, but given how little has changed since 2019, Goldman Sachs might be what's holding the card back.
If you're an Apple Card user, there's nearly zero chance you'll be switching to a Samsung Galaxy phone to get access to the Samsung Galaxy Card. Those rates look nice on paper, but it isn't clear how they'll translate to real-world savings compared to Apple Card.
I've been using Apple Card as my main credit card and same-as-cash card for years. I get 3% cash back on many purchases since I buy gas at Exxon and pay for Apple products and services constantly.
Even that 2% cash back on nearly everything else has been great since Apple Pay is nearly everywhere.
It'll be interesting to see if Samsung is going to attempt to do more in fintech, especially given its shared space with Google. However, this really doesn't have anything to do with Apple or its users, so carry on.
