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Apple Card: Giving Other Credit Cards a Run for Their Money!

Apple Card

Apple’s March 25 Show Time Event at the Steve Jobs Theatre in Cupertino, California has come and gone, and Apple has added quite a few new features to their services arsenal. We’ve got Apple News+, Apple Arcade, Apple TV+, and a whole new avenue that no one could have predicted Apple venturing into – Apple Cards.

Apple Card

Apple has partnered up with Goldman Sachs to launch a consumer credit card that is only available in the United States, at least for now. The physical card is a sleek little titanium rectangle that simply displays the user’s name along with the Apple logo. Information that is typically featured on cards, such as the card number, CVV, signature, and expiration date have been forgone to make the card as secure as possible and protect the user’s personal details.

Apple Card+ Apple Wallet= A Smooth User Experience

The biggest perk of the Apple card is how seamlessly linked it is to your iPhone.

  • The Apple Wallet app holds a digital version of every Apple card. And it is from here that one can make online as well as in-store contactless purchases.
  • You can also use the Wallet app to store and redeem your rewards.
    What’s more, you also have the option of paying off your bill at any point instead of having to wait until the end of your credit cycle. And speaking of bills, Apple has promised user statements that don’t make you want to pull your hair out with frustration, for they will come with merchant names, locations, and dates for each transaction.

So basically having the Wallet app means that Apple Card users don’t have to install and use multiple apps to enjoy the benefits provided to them (as is the case with most other credit cards) because the Wallet app is their one-stop solution to all their banking needs.

Benefits

Now that we’re all giddy for the Wallet app integration let’s move on to some of the cash benefits!

1. So the cash-back benefits for the Apple Card/Wallet combo are three-fold, and here’s the breakdown-

  • A 1% cash-back for all purchases made using the Apple Card.
  • A 2% cash-back for transactions done through Apple Pay.
  • And lastly, a 3% cash-back for purchases made from Apple such as the iTunes digital library.

2. As for what you can do with your cash-back, users of Apple Card get their cash-back benefits in a feature known as ‘Daily Cash’ and can redeem them easily each day. Non-Apple Card users, on the other hand, will only be able to redeem them in the form of statement credit.

3. Now, the annual fee or lack thereof is genuinely an exciting feature. Apple boasts of “No fees. Not even the hidden ones” and promise to not charge an annual fee or penalise people for crossing their card limit or paying their bill late. Sounds too good to be true, and perhaps it is, because when it comes to Apple, there is almost always a catch.

Security

Apple has assured all users that the card will contain all the features of Apple Pay that make it an impregnable fortress that keeps our anyone but you. With Face ID, Touch ID, and a unique one-time password for each transaction, it indeed takes security to the next level. In addition to this, Apple promises users that Goldman Sachs will never trade their personal details with third parties for any reason.

So that’s the tea, folks. The Apple card will be available to U.S. citizens come summer 2019. And as for the rest of the world? We, have no clue when and if this new Apple service will make its way to India. Disappointed? Or do you feel like you’re not really missing out on anything? Let us know in the comments below!

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