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Apple has teamed up with pharmacy store chain Walgreens to offer a $50 welcome bonus to new subscribers of the Apple Card, the tech giant’s credit card.
With the deal, new cardholders can get $50 back after spending at least the same amount at Walgreens during the first 30 days of using their Apple card. Those interested in receiving the bonus need to download the Walgreens iOS app.
Apple said that the welcome bonus will only be available for a limited time. Cardholders will receive it via Daily Cash, the Apple Card’s cash refund program that gives customers a percentage of their money back after every purchase.
Apart from the welcome bonus, there are two other existing deals offered by Apple and Walgreens. The first rewards customers with 3% cash back when they make a purchase using the Apple Card at Walgreens branches or on the app or website. The second gives customers 3% cash back when they use their Apple Card at any Walgreens drive-thru locations until the end of July.
According to credit card expert Sara Rathner, the Apple Card’s new deal is a sign of the times. Previously, the Apple Card did not offer any welcome bonuses. However, just like other credit card companies, Apple is thinking of ways to attract new customers.
Rathner believes that Apple is testing the waters with the new deal with Walgreens to determine consumers’ response to such initiatives.