CUPERTINO, Calif.—How many Americans have taken a bite out of the Apple Card? According to a new report from Cornerstone Advisors’ Ron Shevlin, roughly 3.1 million Americans, or 2.2% of all U.S. adults with a credit card, are now carrying the Apple Card.
But who they are might be surprising to many, Shevlin said, in analysis published on Forbes.com.
Most are younger consumers: 70% are Millennials. Just 3% are Baby Boomers. One-third have annual household income below $50,000 (versus 55% of the overall population), and a third have income greater than $100,000.
The cardholders are also a highly educated group: 56% have a college degree. Six in 10 Apple Card customers consider the card to be their primary credit card—roughly equal to the primary card status achieved by Bank of America and JPMorgan Chase, and slightly higher than Wells Fargo and Capital One, Shevlin said.