The Apple Card, a new kind of credit card created by Apple, is now available in the United States. Apple is partnering with Goldman Sachs as its issuing bank and with MasterCard to provide the support of a global payments network. A limited number of customers were invited to apply for the card early during the Apple Card preview earlier this month.
The Apple Card is considered to be more secure than any other physical credit card because it has no card number, CVV security code, expiration date, or signature on the card. The card has no fees, including annual, late, international or over-the-limit fees, and provides a new level of privacy and security using Apple’s technology. Customers can apply for the Apple Card through the Wallet app on the iPhone 6 and later running iOS 12.4. Once approved, the customer can start using it right away with Apple Pay in stores, in apps, and on websites.
The Apple Card provides customers with a range of payment options and calculates the interest cost on different payment amounts in real time. To help customers better understand their spending, the Apple Card provides weekly and monthly spending summaries. Transactions are clearly labeled with merchant names and locations in Wallet.
The card also has a rewards program, called Daily Cash, which gives customers 2 percent Daily Cash every time they use the Apple Card with Apple Pay, and 3 percent Daily Cash on all purchases made directly with Apple. Customers will also receive 3 percent Daily Cash when they use the Apple Card with Apple Pay for Uber and Uber Eats. A statement from the company says that the Apple Card will continue to add more popular merchants and apps in the coming months.