What is an Apple Credit Card and how will it work

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The Steve Jobs Theater held a spring presentation of Apple, in which the company introduced new services. One of the new products is a credit card.


Apple decided to follow in the footsteps of Amazon and issue its own credit card called Apple Card. Unlike traditional credit cards, in the case of the Apple Card, you can apply for its creation directly from the iPhone, and after approval, the card will be stored digitally in the Wallet application, where you can view detailed information about all transactions. All expenses will be divided into categories (“Food and Drinks”, “Clothing”, etc.) with information about sellers in order to remind you where you made this or that purchase. She can pay wherever they accept payments through Apple Pay.

The Apple Card Virtual Card generates new security codes every time you make payment. She doesn’t even have a number, a CVV code, and an expiration date, like a regular plastic card. if there is also another option available to pay one of my favorite methods Usaa Routing Number Information about purchases is stored locally, which means you should not be afraid that it will be used for advertising targeting. Confidentiality is paramount. The company promises that neither she nor her partners will ever transfer your data to third parties for advertising and marketing.

The Apple Card was created in conjunction with Goldman Sachs and Mastercard. Its advantages include a cashback of 2% of the amount when paying for purchases through Apple Pay and 3% for purchases in the Apple Store, App Store, and payment for other Apple services. The company claims that with a new credit card, users will no longer have problems with overdue, annual, and international fees, as well as fees for exceeding limits. Apple also promises lower interest rates compared to other credit cards without penalties for late payments. In the application, you can find out the amount of interest on the loan, depending on the amount of payments.

In addition to a virtual credit card, it will be possible to issue a physical titanium credit card, on which only the customer’s name and company logo will be applied. It is useful, for example, when traveling. The amount of reward for purchases from this card will be 1%.

The launch of the Apple Card is scheduled for the summer of 2019. More exact dates will be announced later.

Apple continues to explore new directions for itself and, I must say, is doing it successfully. It seems that it will not take the last place in the credit card market, especially considering the partnership with such giants as Goldman Sachs and Mastercard. Do you think the conditions of the Apple Card in the form of cashback and low interest are beneficial? Share your opinion in the comments!


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