According to experts, the benefits of the new Apple credit card are not new

At this point, Apple does not soften the deal with a 0% introductory rate or balance transfer offers, Rossman said.

Reward wise, the card is also dull, he said.

The Apple Card offers a 2% cash back on Apple Pay transactions, 3% on Apple direct purchases and 1% on purchases with physical card, according to the announcement on Monday. Rewards are distributed daily.

Other cards, such as the Citi Double Cash card, offer a 2% cash back on all purchases, not just on Apple Pay, said Rossman.

In addition, Rossman said, the Visa Infinite Reserve US Bank Visa Card rewards mobile spending with a cash back of 3% or a 4.5% discount on travel. "It's really interesting: the US bank offers better Apple Pay rewards than Apple," Rossman said.

The Apple card could make sense for people who make frequent purchases at the technology giant, said Matt Schulz, chief industry badyst at CompareCards.com.

Still, he said, he was scratching his head at the attention that the card was getting to have no fees. "Mr. Cook may have sold his products a little too much," he said. (For example, PenFed Credit Union has a no-charge card and Citi has one without annual fees or late fees.)

"I was surprised that the offer did not have a bit more," Schulz added, "just because it's such a competitive space."

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