A most innovative credit card has been announced and it is an Apple Credit Card. Yes, this is tech innovator Apple, which is going to launch a credit card that you can call an ‘Apple Card’.
On March 25 in Cupertino, California, Apple announced Apple Credit Card, which has been claimed as a new type of credit card. Apple has designed this card to provide customers a healthy financial life and transparency. Apple Credit Card is connected to the Apple Wallet app on iPhone. Introducing an easy way to transition using Apple Pay to manage its wallet on the iPhone.
Apple Credit Card or you can say that ‘Apple Card’ only enhances your credit card experience by making simple applications, removing various fees, low interest and all the best levels of privacy and security. Apple Card will be available for US customers this summer. The card gives you interesting rewards and offers, which are claimably competitive compared to other available credit cards in the market. From daily cash back to purchase-rewards, this tiny card has a lot to do.
Apple Card – Features and Benefits
Let’s know what’s in the Apple Credit Card?
1. A Credit Card that is designed for iPhone
You as a customer can sign up for this card through your Apple Wallet app. In just a few moments of using the iPhone, you can start using it all over the world with Apple Pay. Apple Card gives you simple and real-time views of your latest transaction and balance. And interestingly, the support of Apple Credit Card is available 24/7 only by sending the text.
2. Transactions are easy-to-understand
Using machine learning, the card records transactions with all important details such as the name of the dealer, location and the amount. Similarly, the purchase is automatically separated into different categories such as food and beverage, shopping and entertainment etc. There is a unique color to display in each category. Plus the Apple Card shows your expense stats and summary base on the week and the month.
3. Apple Card provides Daily Cash
You as a customer will receive cash back against each of your Apple Credit Card purchases. Thankfully, this Daily Cash gets added directly to the balance of your Apple Cash Card every day and you can use it for the next purchase. For every use of the Card with Apple Pay, you will receive 2 percent in the form of Daily Cash. On the same way, If you buy directly with Apple stores, Apple App Store and other Apple services, you can also get 3 percent Daily Cash.
4. No charge, low interest
Unlike other credit cards, Apple Card does not have monthly, annual or late fees. Apart from this, it does not charge any international fee and Over-limit penalty. None of the penalties are associated with the Apple Credit Card so that you can healthy spending. On the same way, Apple shows a soft alternative to card payments and calculates interest amount for distracted payment amount, and that too in real time.
5. For high security and user privacy
For this reason, you will be assigned a unique card number on iPhone your for Apple Card and the detail goes into the secure part of your device. All your purchases are also safe and authorized with Face ID or Touch ID and OTP. Similarly, all security features are super-level, which Apple does not even know what you have bought and where.
6. Partnered with Goldman Sachs and MasterCard
Apple is partnering with Goldman Sachs and MasterCard for the bank and the worldwide network. In the new form, Goldman Sachs is offering new credit card offers and securities including customer data privacy. Similarly, MasterCard, which has a global network, allows you to shop around the globe.
7. After all a beautiful Apple Card
After all, Apple has designed a beautiful titanium card that also allows you to shop where Apple Pay doesn’t work. Unlike other credit cards, there is nothing as card number, CVV, expiration date or signature printed on the card. Furthermore, you can get all the detail easily in your app wallet and on the website.
Experts saw few challenges in Google and Samsung cards and payments. Apart from this, the credit card industry is full of competition. Also, it’s heavily regulated. Google has tried to present a physical debit card for Google Wallet but was closed in 2016. Important to realize, Apple already has brand power and its number of retail stores. In essence, there are many positive things that can make the Apple Credit Card a success.