Apple Announces 'Apple Card' Credit Card With Daily Rewards, Simplified Statements, and No Fees

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Mar 25, 2019.

  1. MacRumors macrumors bot

    MacRumors

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    Apple today revealed a brand new service called "Apple Card," a new digital and physical credit card that users will be able to sign up for right from their iPhone. Apple says this sign-up process takes just a few minutes and then they can start using the Apple Card right away in stores, in apps, or online worldwide. Apple partnered with Goldman Sachs and Mastercard for Apple Card.

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    After spending, Apple Card will give users simple real-time views of their latest transactions and balance in the Wallet app. Apple Card uses machine learning and Apple Maps to label transactions with merchant names and locations. Purchases are then automatically totaled and color coded through categories like Food and Drinks, Shopping and Entertainment, and more.

    At the end of each week and month, the Wallet app will show what users spent to help visualize their past finances. The company will also provide 24/7 customer support through Messages.

    Anyone who uses Apple Card will receive a percentage of every purchase amount back as "Daily Cash," the card's rewards program. Every time users pay with Apple Card they will receive 2 percent Daily Cash back, and if they make a purchase directly with Apple they'll get 3 percent Daily Cash back. Daily Cash is immediately added to the user's Apple Cash card in the Wallet app, and can be used anywhere Apple Pay is accepted.


    Apple Card has no fees associated with it, and the company says that "Apple Card's goal is to provide interest rates that are among the lowest in the industry and if a customer misses a payment, they will not be charged a penalty rate."

    As with Apple's other services, the company promises that Apple Card is completely secure and private.
    There will also be a physical Apple Card for shopping at locations where Apple Pay is not accepted. The card is made out of titanium, has no card number, no CVV, no expiration date, and requires no signature.

    Apple Card launches in the United States this summer.

    Article Link: Apple Announces 'Apple Card' Credit Card With Daily Rewards, Simplified Statements, and No Fees
     
  2. 19SK91 macrumors regular

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    #2
    US only. Can‘t wait for it to launch in Germany in 2025.
     
  3. dominiongamma macrumors 65816

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    Will places accept a card with no numbers or signature? I doubt it
     
  4. johannnn macrumors 65816

    johannnn

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    #4
    And a Swedish launch in 2028.
     
  5. iBungie macrumors regular

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    #5
  6. farewelwilliams macrumors 68000

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    #6
    this was a surprise to many. only rumored to create a card, but not many details were leaked.
     
  7. haydn! macrumors 6502a

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    UK
    #7
    Apple’s sales outside the US continue to stall. Wonder how much of that is influenced by the fact pretty much every service Apple announces these days to compliement it’s premium/over priced hardware is exclusive to the US for months/years.
     
  8. macduke macrumors G3

    macduke

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    #8
    I like the responsible approach to this card from a financial, security, and privacy standpoint. I may get one eventually. It's a shame I just put my new iMac on a new Barclay card to take advantage of the 0% for 18 months. I don't want too many inquiries so I can keep my credit score high.
     
  9. miniyou64 macrumors 6502a

    miniyou64

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    #9
    This has Tim Cook written all over it. Financial services. Yuck. So much for Apple innovation.
     
  10. newyorksole macrumors 68040

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    New York.
    #10
    Awesome. Can’t wait to get it. I’m sure many places will still take the physical card, even without a signature on it. Just have ID with you and make sure the names match.
     
  11. darkslide29 macrumors 65816

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    #11
    Here I thought App Store purchases had me locked into Apple's ecosystem. A credit card that only exists in Apple Wallet will really make me feel locked down. Everyone's credit situation is different, but to open a card (with a hard credit pull) only to have to close it when you no longer have an Apple device isn't ideal (the physical card when you can't use Apple Pay is fine, but standalone doesn't seem as worthwhile).

    But who am I kidding, I'm posting during the keynote, so I will probably always have an iPhone..
     
  12. ugahairydawgs macrumors 68030

    ugahairydawgs

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    #12
    So how do you buy something on a site like Amazon if there is no card number?
     
  13. moabal macrumors regular

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    #12
    As someone who likes to maximize their cash back rewards, this card does not fit my credit card portfolio.

    There are already other cards that pay 2% or more that can be added into Apple Pay. This new card is only for people who want an easy card to understand with minimal fees.
     
  14. ugahairydawgs macrumors 68030

    ugahairydawgs

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    #13
    Still has a chip and then gets authentication from Face ID/Touch ID.
     
  15. 69Mustang macrumors 604

    69Mustang

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    #14
    Goldman Sachs will never share or sell your data to third parties for marketing.

    I firmly believe Apple believes this to be true. If Goldman has access to the data I also firmly believe the scorpion will eventually sting the frog.
     
  16. dominiongamma macrumors 65816

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    #15
    I don’t see this being a smooth process, some places require numbers to make a purchase or they have to type it in manually.
     
  17. Tapiture, Mar 25, 2019
    Last edited: Mar 25, 2019

    Tapiture macrumors 65816

    Tapiture

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    #16
    “We needed a really innovative bank, so we chose.... Goldman Sachs?”

    Sure, they helped cause the 2008 financial crisis and have no soul, but they’re really innovative and awesome!
     
  18. Fuchal macrumors 68020

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    #17
    None of my cards are signed and everyone has always accepted them.
     
  19. Bustycat macrumors regular

    Bustycat

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  20. dominiongamma macrumors 65816

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    #20
    I mean non online, like going to a store or a restaurant
     
  21. 3rdiguy macrumors 65816

    3rdiguy

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  22. ChrisMoBro macrumors 6502

    ChrisMoBro

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    #22
    Everything wrong with the current direction of Apple is perfectly encapsulated in this product - an Apple credit card.

    Hear that sound? It’s the sound of Steve Jobs rolling in his grave.
     
  23. AppleMad98004 macrumors 6502

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    #23

    This is exactly why they are doing it. Another reason to stay in Apple's eco-system. Financial services only available to iPhone users.
     
  24. philipk macrumors 6502

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    Jun 11, 2008
    #24
    Yes they will if they accept MasterCard. I already have a MasterCard that does not have numbers on it. Only once did someone question it. Their machine processed it.
     
  25. gsurf123 macrumors member

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    Jun 1, 2017
    #25
    You want either the Amazon Store Card or Amazon Visa. Store card gives you 5% back or X months free interest today. Visa give you 5% cash back on everything sold at Amazon. It is real cash too. They will send you a check or you can use it for airline travel and maybe some other stuff. I just take the cash. You get the usual 2% on gas and 1% everywhere else.
     

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