The Apple Card offers a $50 sign-up bonus to new cardholders who sign up before January 31 and spend $50 or more at Exxon Mobil gas stations within 30 days of account opening.

Is the $50 sign-up bonus worth it?

The new Apple Card sign-up bonus is intriguing for several reasons. First, the card did not offer sign-up bonuses until recently. And second, Apple and its card issuer, Goldman Sachs, are getting creative, targeting spending at specific retailers rather than general spending, as is the case with most credit card bonuses. Goldman Sachs recently ran similar promotions with Nike, Walgreens, Panera Bread and Apple Service.

If you’ve been planning on signing up for the Apple Card but just haven’t, the new bonus could be an incentive to do what you’ve already been planning to do.

However, the bonus is not competitive with the best cash-back credit cards, which offer triple or even quadruple that amount. So it wouldn’t be worth applying just for the sign-up bonus, because you can do much better elsewhere.

Additionally, the focus on specific retailers can make a bonus less valuable. For example, if you don’t own a car, Exxon and Mobil gas stations are probably outside of your normal spending habits. In this case, you will have to spend money that you wouldn’t otherwise spend on things you don’t need.

If, however, you regularly refuel at Exxon and Mobil stations, it might make more sense to apply.

The essential

Apple Card recently ran several promotions to entice new customers to apply and start spending right away. However, bonus amounts have been low compared to other cash back credit cards. So only jump on the promotion if you were already considering signing up for the card for other reasons, such as its rewards rates, no fees, or privacy features. You can request the card through the Wallet app on an iOS device.