News

Apple Card starts rolling out to selected users

Published

7 years ago

August 6, 2019

Apple announced its Apple Card earlier this year. The company’s highly anticipated credit card is now available for a “preview rollout” with broader availability expected later this month. Selected customers were invited to sign up today, although the company didn’t disclose the number of people in the preview group.

Apple Credit Card is here!

Apple announced this new credit card back in March, hyping the fact that this card has “no late fees, no over-limit fees, no annual fees, and no international fees. Only selected users will get notified and they can use this credit card service starting today through the Apple Pay. Also, a physical titanium card will be shipped to them in a few days. According to the reports, this titanium card has no card number, security CVV code and does not have the expiration date too. Users can get this card for free of cost.

Apple Card is issued through Goldman Sachs that runs on MasterCard network and will only be available to iPhone users. This exclusive card works similar to any other credit card. Users can swipe this card at grocery stores and all the credit card accepted stores. For online transactions and contactless payments, this card can be used through the Apple Pay. This card can specifically clear the coverage gap between the users and the merchants who don’t accept Apple Pay.

Apple previously made clear that this card will give cashback on every purchase. They mentioned that the card will give 3% cashback on Apple products which include the devices and software-related subscriptions. On Apple Pay purchased users will get 2% cashback and 1% on all the other purchases.

Apple has focused on privacy, saying that purchase information is stored on the user’s iPhone and that it cannot see the information. Goldman will not be allowed to use data for marketing purposes, even for selling other Goldman products. Apple can’t issue a credit card without a bank and Goldman Sachs is the bank. We have to see if it live up to the high expectations of Apple consumers.