An innovative credit card that will simplify your life.
At Apple's Spring Event last week, the company announced a new Apple Card credit card. This is a big step forward for the company in the financial sector, promising to help customers lead a healthier financial life.
Apple Card will be built into the Apple Wallet app on the iPhone, offering customers a familiar experience with Apple Pay and the possibility to manage their card right at their fingertips. This new and innovative card will transform the whole credit card experience. In fact, it will simplify the application process, eliminate fees, encourage customers to pay less interest and provide a new level of privacy and security.
But this is not all. Apple also claimed that it will use machine learning and Apple Maps to label stores that you use in the app and use that data to track purchases across different categories. This way you will never forget where that mysterious $50 purchase came from.
Furthermore, Apple Card will give you cash back rewards in the form of daily cash, which will be applied directly to your card to spend or put toward your purchase. To be more precise, there will be a 2% cash back on purchases made through Apple Pay using an Apple Card and a 3% cash back when you purchase something from the Apple store.
To do all of this Apple is partnering with Goldman Sachs for the Apple Card, while MasterCard will handle payment processing. Additionally, the company promises there will be no late fees, no annual fees, no international fees and no over limit fees, thus bringing what some FinTech companies already do to the next level.
For those concerned with privacy, Jennifer Bailey, VP of Apple Pay, said: "Apple doesn’t know what you bought, where you bought it, and how much you paid for it". Meaning that all the information is going to be stored directly on the device and not on Apple's servers.
The only downside we see to this is that there are still many countries where Apple Pay is not accepted everywhere yet. And in these cases the Apple Card would be pretty useless. However, if you live in a city where it is mostly accepted then we would definitely give it a shot!
Oh and there is one last pretty cool feature: there will also be a physical, titanium card made exclusively for tossing dramatically on dinner tables.
At Apple's Spring Event last week, the company announced a new Apple Card credit card. This is a big step forward for the company in the financial sector, promising to help customers lead a healthier financial life.
Apple Card will be built into the Apple Wallet app on the iPhone, offering customers a familiar experience with Apple Pay and the possibility to manage their card right at their fingertips. This new and innovative card will transform the whole credit card experience. In fact, it will simplify the application process, eliminate fees, encourage customers to pay less interest and provide a new level of privacy and security.
But this is not all. Apple also claimed that it will use machine learning and Apple Maps to label stores that you use in the app and use that data to track purchases across different categories. This way you will never forget where that mysterious $50 purchase came from.
Furthermore, Apple Card will give you cash back rewards in the form of daily cash, which will be applied directly to your card to spend or put toward your purchase. To be more precise, there will be a 2% cash back on purchases made through Apple Pay using an Apple Card and a 3% cash back when you purchase something from the Apple store.
To do all of this Apple is partnering with Goldman Sachs for the Apple Card, while MasterCard will handle payment processing. Additionally, the company promises there will be no late fees, no annual fees, no international fees and no over limit fees, thus bringing what some FinTech companies already do to the next level.
For those concerned with privacy, Jennifer Bailey, VP of Apple Pay, said: "Apple doesn’t know what you bought, where you bought it, and how much you paid for it". Meaning that all the information is going to be stored directly on the device and not on Apple's servers.
The only downside we see to this is that there are still many countries where Apple Pay is not accepted everywhere yet. And in these cases the Apple Card would be pretty useless. However, if you live in a city where it is mostly accepted then we would definitely give it a shot!
Oh and there is one last pretty cool feature: there will also be a physical, titanium card made exclusively for tossing dramatically on dinner tables.
Can’t wait to try it out! Shame it’s only gonna be available in America at the beginning :(
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