As we all know, Apple is always on the lookout for a new idea, a unique take on an old subject. They are now turning their attention to the credit card. They are offering you the opportunity to throw out all of your other credit cards and rely solely on the Apple credit card, which actually encourages you to spend less and not build up an over-the-top credit card bill.
During the summer of 2019, Apple is launching its new credit card in the United States. The credit card is incorporated in the Apple Wallet app on your iPhone. Apple claims this card is superior to all other credit cards in that it encourages people to spend less and offers cash rewards. Safety and security have always been a top priority for Apple, and that is no exception with this new venture. Apple is determined to maintain the highest privacy levels possible.
Apple is using the power and portability of the iPhone to make their footprint in the world of credit cards, determined to create an experience that will ultimately benefit all users in simplifying lives and creating smarter consumers.
Here are the details of the soon-to-be-released Apple credit card
Easy Apple Credit Card Application
Signing up for the Apple credit card is as easy as 1-2-3; simply sign up in your Wallet app and you can start using your new credit card with Apple Pay right away. Support is no longer a phone call away; it is now only a simple text away. No more impatiently sitting on hold, wondering when someone will pick up the phone at the other end.
Understand Your Spending with the Apple Credit Card
Everything you buy is listed by category and color-coded in your Wallet App. Trying to figure out just what that charge relates to – simply tap the map and it will pinpoint where you spent the money. Summaries of your spending are available on a weekly and monthly basis. You can also look at specific categories to determine where, when, and what you spent within that category. These summaries are all designed to help you understand your spending habits and how to better budget your hard-earned money.
Apple Credit Card’s Rewards Program
Yes, the new Apple credit card comes complete with its own reward program – cash. For every purchase you make with your card, you receive a percentage back in cash. This cash is added to your Apple Cash card each day, ready for immediate use. Unlike most other credit cards, there is no limit to the amount of cash back you can earn on any given day.
The percentage of the cash reward varies slightly, depending on where you make your purchase. Anything you buy from Apple comes with a 3% cash back reward. This includes shopping at any Apple store, on apple.com, the App Store, and iTunes. Every other time, in all other locations, when you make a purchase using Apple Pay, you receive 2% cash back. Moreover, amazingly, if you are shopping in a store that does not accept Apple Pay, you will still receive 1% cash back!
What to Do at a Store that Does Not Accept Apple Pay
While the number of locations that do not accept Apple Pay shrinks every day, they do still exist. For these instances, Apple offers a titanium Apple credit card. In order to maintain the highest level of security, this card has no number on it, no CVV security code, and no signature. It is impossible for someone else to use your card, as they do not have access to any of this information.
Apple Credit Card’s Fees and Interest Rates
The fee structure could not be simpler – there are none. No late fees, no annual fee, no cash- advance fee, no international fee, and no over-the-limit fees. Apple is working diligently to ensure the best possible and least expensive method of credit card payment for their customers. They stand out as unique is this field where other credit card companies seem determined to wring every last possible penny out of you.
Apple is unwavering in their quest to provide an interest rate on the lower end of the scale. To help you with your spending your Apple credit card will show you a range of payment options when you are looking to make a purchase and the amount of interest you will pay on the item depending on the option you choose. You can then decide if the item is really worth the cost or not.
Paying Your Apple Credit Card Balance
To help make your life as easy as possible, Apple sets all payment due dates at the end of each month. Apple also offers the ability to set up weekly or bi-weekly payments. If your life is so busy that it is hard to remember that due date, Apple also sends out reminders.
Privacy and Security Offered by the Apple Credit Card
The privacy and security levels are so high that not even Apple will know where you shopped or what you bought. Every purchase is authorized with either a Face ID or Touch ID and a unique security code. This also ensures that no one can use your Apple credit card, even if they do manage to steal your iPhone.
Every time you make a purchase, Apple sends you an immediate notification. Therefore, if you receive a notification when you did not spend any money, you will instantly know that something is wrong. You will also be contacted if there are any unusual charges on your card.
If you do not recognize a charge, simply tap and Apple will handle it from there, with no charges to you.
Apple Partners with Goldman Sachs and MasterCard
In order to provide its customers with the support of an issuing bank and the ability to make global payments, Apple has partnered with Goldman Sachs and MasterCard.
How to Get your Apple Credit Card
The Apple credit card will become available to US customers in the summer of 2019. To keep up to date with the latest news check out https://www.apple.com/apple-card/.