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Everything you need to know about Apple Card, Apple's credit card

Apple announced in April 2019 its Apple Card, an innovative credit card designed to help customers lead a more orderly financial life. Four months later, specifically on August 20, he has released it officially in the United States. Apple Card is integrated into the Apple Wallet iPhone application, offering its customers a familiar experience with Apple Pay and also giving them the ability to manage their card directly from their iPhone.

That means that you can now request the Apple Card, through the Wallet application on your phone, and start using it immediately with Apple Pay in stores, applications and websites. This card promises to be based on “simplicity, transparency and privacy ”, so it has no fees, encourages customers to pay less interest, offers a vision of expenses that is easy to understand and offers a new level of privacy and security. TIt also offers a clearer and more attractive rewards program than other credit cards with its Daily Cash feature, which returns a percentage of each purchase every day.

"Apple Card is based on the tremendous success of Apple Pay and offers new experiences only possible thanks to the power of the iPhone," said Jennifer Bailey, vice president of Apple Pay. "The Apple Card is designed to help customers lead a healthier financial life, starting with a better understanding of their expenses so they can make smarter decisions with their money."

A credit card designed for iPhone

Customers can subscribe to the Apple Card in the Wallet application of their iPhone in a matter of minutes, and start using their card with Apple Pay immediately in stores, applications or stores on-line of all the world. The Apple Card offers its customers account statements of their latest transactions and balance in Wallet, all in real time and very easy to understand, also adding support (customer service) available 24/7 simply by sending a text message from Messages .

Daily cash?

Well yes: customers will receive back a percentage of each purchase amount they make with their Apple Card as daily cash (Cash back). Unlike other cash back rewards, the Daily Cash adds cash every day, money that can be used immediately to make more purchases with Apple Pay, deposit it in the balance of your Apple Card or send it to friends and family through Messages. Each time customers use the Apple Card with Apple Pay, they will receive back 2 percent of the purchase in cash. Customers will also get 3 percent of Daily Cash on all purchases made directly at Apple stores, the App Store and other Apple services.

No commissions and less interest

The best? There will be no charges associated with the Apple Card: there are no annual fees, fines for arrears, international limits or for expenses over your balance. The objective of Apple Card is to provide interest rates that are among the lowest in the market and, if a customer does not make a payment, they will not be charged a penalty fee. To help customers make informed decisions, Apple Card show a variety of payment options, calculating the cost of interest in different payment amounts, all in real time.

A new level of privacy and security

When you get your Apple Card, a unique card number will be created on the iPhone, which will be stored securely on the device. Each purchase is safe because it is authorized with Face ID or Touch ID and a unique dynamic and unique security code.

To develop this credit card, Apple has partnered with Goldman Sachs and Mastercard, all to provide support from an issuing bank and a global payment network. Goldman Sachs is creating a different and customer-centric credit card experience, and never sharing or selling the data to third parties for marketing or advertising. For its part, the partnership with MasterCard provide cardholders with the possibility to buy from stores around the world.

A beautiful titanium card, just in case

The company has also designed an Apple titanium card to buy in places where Apple Pay is still not accepted. Without number, CVV security code, expiration date or signature, this Apple Card will be more secure than any other physical credit card. All this information will be available in Wallet, in case you want to use it in applications and websites. For purchases made with Apple's titanium card, customers will get 1 percent of Daily Cash.

* Updated on August 20, 2019 by Milenka Pea.

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