On Monday, Apple announced its very own credit card, The Apple Card. Built into the Apple Pay wallet app, this physical credit card will not only be available worldwide but will provide its customers with 2% cash back when used through the app and 1% cash back when used through the card.
Hosted in the Steve Jobs Theatre, Apple held its promotional event that included guest speakers such as Oprah, Steven Spielberg, Jennifer Anniston, and Reese Witherspoon in the promotion of their new shows soon to be offered on Apple’s new project: Apple TV+.
Aside from these celebrity endorsements, one of the most appealing aspects of this new card is that its fee-free. The Apple Card will have no annual fees, no late fees, no international fees, and no over-limit fees.
In all its innovative glory, Apple is providing its users with a built-in money tracker on their iPhones that displays how much of their money is due, when it is owed, and what they have spent so far. Apple prides themselves on the easy and accessible use their products offer, and so they aimed to uphold that theme with their credit card. “A credit card created by Apple, not a bank. So it’s simple, transparent, and private.”
In their attempt to maintain their signature sleek appearance while also ensuring high-quality security, these cards only display the owner’s name.. no number included. Every card is assigned a number that is then locked away securely in one’s iPhone. Privacy and security are ensured through Apple’s Face ID and Touch ID technology so not even Apple will be able to track any credit card activity.
While the Apple Pay app has been a popular program used by Apple customers since its release in 2014, not all businesses accept it as a form of payment; this credit card will give customers the flexible payment method they desire.
The anticipated release of The Apple Card is Summer 2019.