If you're looking for a credit card for your favorite brand, you likely won't have to look far. It seems like every company has a credit card these days, and it's not just hotels, airlines and stores.

Electronics manufacturers like Apple, and now Samsung with the launch of the Samsung Galaxy Card on Wednesday, also offer co-branded credit cards. These cards offer value to those looking to earn rewards on their next phone or laptop purchase, but they also come with notable drawbacks.

Let's take a look at how these "smartphone credit cards" stack up against other cash-back cards with no annual fee, so you can easily determine if they are worth it for you.

The new Samsung Galaxy Card features a welcome offer of $200 in cash rewards after you spend $2,000 on purchases within the first 90 days of account opening. It also earns cash back in a few interesting categories, including:

  • 5% cash rewards on eligible purchases made directly from Samsung
  • 3% cash rewards on purchases made with your Samsung Galaxy Card in Samsung Wallet
  • 2% cash rewards on eligible streaming services
  • 1% cash rewards on all other purchases

While these types of bonus categories aren't unusual, there is significant value in earning 3% back on Samsung Wallet purchases. You can make Samsung Wallet purchases with any card reader that is near field communication (NFC) enabled, which is most modern terminals. Samsung Wallet is also a payment option for online purchases.

  • Rewards- 5% cash rewards on eligible direct Samsung purchases; 3% cash rewards on Samsung Wallet purchases; 2% cash reward on eligible streaming services; 2% cash rewards on everything else

  • Welcome bonus- Earn $200 in cash rewards after spending $2,000 on purchases within the first 90 days of account opening.

  • Annual fee- $0

  • Intro APR- None

  • Regular APR- 23.49% to 32.24% variable

  • Balance transfer fee- Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee- None

  • Credit needed- N/A

Terms apply.

How does it compare to the Apple Card?

The standard publicly available Apple Card offer doesn't feature a welcome bonus (although targeted offers may be available).

Unlike the Samsung Galaxy card, the Apple Card offers special financing for Apple purchases. At checkout, select Apple Card Monthly Installments to receive interest-free financing for eligible products. With this plan, the payments are automatically added to your minimum monthly payment

The card earns cash back at the following rates:

  • 3% cash back at Apple and select merchants when you use the Apple Card with Apple Pay
  • 2% cash back on purchases made with the Apple Card using Apple Pay
  • 1% cash back on all other purchases

Being able to earn 2% cash back everywhere is ideal for a flat-rate cash-back card, and you can earn that as long as you pay with Apple Pay. However, when you're not shopping at Apple, with a small list of select merchants or using Apple Pay, you'll only earn 1% back.

We'll cover this in more detail below, but there are many credit cards with no annual fee that earn 2% cash back everywhere without the Apple Pay requirement.

  • Rewards- 3% cash back on goods or services purchased directly from Apple (including Apple retail stores, the Apple online store, the App Store, iTunes, Apple Music and other Apple-owned properties) on Uber and UberEats, at Walgreens and Duane Reade stores, on the Walgreens app and on Walgreens.com, in T-Mobile stores, at Nike, at Exxon and Mobil stations and at Panera Bread, 2% cash back on Apple Pay purchases and 1% cash back on all other purchases

  • Welcome bonus- None

  • Annual fee- $0

  • Intro APR- None

  • Regular APR- 19.24% to 29.49% variable

  • Balance transfer fee- None

  • Foreign transaction fee- None

  • Credit needed- N/A

Terms apply.

Like many co-branded cards, the Apple Card and the Samsung Galaxy Card make the most sense if you have the issuer's respective smartphone.

Both cards are most valuable when you're making purchases with the brand or using its digital wallet, and both have no annual fee, so the cash back you earn is yours to keep from day one.

However, there aren't many benefits outside of the rewards you earn. The Samsung card is a Visa Signature and comes with insurance perks like baggage delay, travel accident insurance and rental car coverage. You can redeem your rewards for a statement credit, deposit into a U.S. checking or savings account, gift cards or merchandise.

With the Apple Card, you'll receive your rewards almost instantly. You can have them automatically deposited into a high-yield savings account through Apple that earns 3.40% APY.

In my opinion, the Apple Card is harder to justify because there are other excellent no-annual-fee 2% cash-back cards. Earning 3% back on all Samsung Wallet purchases is an interesting opportunity for anyone with a Samsung phone. You may still want an additional card for the places Samsung Wallet isn't accepted because those transactions only earn 1% back.

Several cards allow you to earn 2% in rewards everywhere with a welcome bonus and intro APR offer.

The Citi Double Cash® Card is a great example of this. On top of earning 2% cash back on purchases (1% back when you buy and 1% back when you pay), it has a $200 cash back welcome offer that you'll earn after spending $1,500 on purchases in the first six months of account opening.

It also has a generous 0% intro APR for 18 months for qualifying balance transfers. When the intro APR ends, a variable 17.49% to 27.49% APR applies. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, your fee will be 5% of each transfer (minimum $5).

The Double Cash earns cash back as Citi ThankYou® Points, which means you can redeem them for cash back or travel. Redemptions include the option to transfer points to travel partners, so you're getting more flexibility compared to a standard cash-back card.

What makes the Citi Double Cash® Card special is that it sits near the top of its class in several categories. It is an excellent option if you want flat-rate rewards, a balance transfer intro-APR or no annual fee.

  • Balance transfers get a long intro APR
  • Generous flat-rate cash-back rewards structure
  • Earns transferable rewards

  • No annual fee

  • It has a foreign transaction fee

  • Intro APR only applies to balance transfer
  • Points transfer ratios are reduced compared to premium cards

Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.

  • Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.49% - 27.49%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).

There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.

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Other cards, like the Wells Fargo Active Cash® Card, Fidelity® Rewards Visa Signature® Card and Synchrony Premier World Mastercard® also earn 2% in rewards on all purchases with no annual fee. The Active Cash also has an intro APR offer and perks like cell phone protection (subject to a $25 deductible), so you have lots of options for maximizing your return on everyday spending.

The Wells Fargo Active Cash® Card is great if you want simplicity thanks to its flat-rate 2% unlimited cash rewards on purchases and $0 annual fee.

  • High, unlimited flat-rate return on purchases
  • Intro APR on purchases and qualifying balance transfers
  • Lower introductory balance transfer fee

  • Up to $600 of cell phone protection against damage or theft (subject to a $25 deductible)

  • Charges a 3% foreign transaction fee

  • Balance transfer fee increases to 5% of each transfer (minimum $5) after 120 days
  • Limited redemption options unless you pair it with a Wells Fargo card that allows point transfers

Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.

  • Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
  • Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
  • Earn unlimited 2% cash rewards on purchases.
  • 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 18.49%, 24.49%, or 28.49% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
  • $0 annual fee.
  • No categories to track or remember and cash rewards don't expire as long as your account remains open.
  • Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.

3% intro for 120 days from account opening, then up to 5%, min: $5

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If you want to keep your wallet simple, you're most likely better off with a flat-rate rewards card. However, being able to earn 3% back on Samsung Wallet purchases makes the Samsung Galaxy Card a valuable complementary card for your other rewards credit cards.

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Editorial Note:Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.