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Apple Launches Credit Card called Apple Card

By now you much have probably heard that Apple launched a Credit Card called Apple Card. You may be wandering about what it is all about and how it functions.

According to Apple the Card ( as it is now called) is Built on Simplicity, Transparency and Privacy, and Designed to Help Customers Lead a Healthier Financial Life.

Apple Card

You can sign up for the Goldman Sachs-backed card directly from your iPhone.

After you do that,  it’ll appear in an updated version of the Wallet app that can show your latest bills, transactions and spending history.

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The Announcement

Apple on 25/3/2019,  had announced Apple Credit Card, an innovative, new kind of credit card created by Apple and designed to help customers lead a healthier financial life. This credit Card is built into the Apple Wallet app on iPhone, offering customers a familiar experience with Apple Pay and the ability to manage their card right on iPhone.

This Card transforms the entire credit card experience by simplifying the application process, eliminating fees, encouraging customers to pay less interest and providing a new level of privacy and security.

Advantages of The Apple Credit Card

Apple Card

Apple Card provides a new level of privacy and security, and features all the advanced security technologies of Apple Pay.

There are inherently more advantage about this credit Card:

Naturally, you can use Messages to ask for customer service

There are financial incentives to use the card. There are technically no fees (not even international or over-the-limit fees), interest rates are “low,” and clear reward programs. Daily Cash, for instance, gives you 2 percent cash back the same day you make any Apple Pay purchase (3 percent if it’s for purchases from Apple) rather than making you wait until your billing period is over.

The Card is built into the Wallet app on iPhone. The advantage of this is that it gives customers a easy-to-understand, real-time views of transactions

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Availability

The Card will launched in the US this summer. This Card also offers a clearer and more compelling rewards program than other credit cards with Daily Cash. This  gives back a percentage of every purchase as cash on customers’ Apple Cash card each day.

The Way Forward

The card won’t be limited to the digital realm as the company is prepping a real-world credit card made from titanium. However this one has no long card number, signature or other potentially identifying info. If a store can’t handle Apple Pay, then, you have a way to use your card without fear. All of your identifying info will sit in the Wallet app, after all.

 

All image credit : Apple INC.

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