The 6% cashback is limited to a maximum of $500 spend, equivalent to total cashback of $30. After the month is up, Nike purchases will qualify for the top-tier 3% Daily Cash rate.
The free $75 back when you spend $75 is obviously a much better deal, but that is a limited time promo for new Apple Card account signups only.
New users must open their account before May 31, and then send $75 or more at US Nike retail stores, Nike.com or Nike apps within 30 days of account creation. The $75 will then be delivered to your Apple Cash account as a one-time Daily Cash bonus.
The Nike promotion is one in a recent streak of limited time offers Apple arranges with brands. Apple Card usually offers 3% cashback on Apple products and services, 2% cashback on Apple Pay purchases, and 1% cashback on purchases made with the physical card.
Apple Card services also continue to expand. The company recently launched a high-yield savings account, and is testing a buy-now-pay-later service called Apple Pay Later which lets customers spread purchases out over six weeks with no interest.
