Apple's credit card could be coming to your wallet sooner than you think
The Apple Card, Apple’s own crack at a credit card, is now just a few weeks from reality, with an estimated early August release.
The Apple Card is yet another way for the company to burrow more of its tendrils into every part of your life. While Apple started out as a simple computer company, it now deals with smartwatches, cars, television and VR.
The card is created for people who own an iPhone, and they can sign up for the card via Apple’s Wallet app, which will soon have built-in card support.
The card will team up with Apple Pay, something Apple is hammering into the hordes of people hotly anticipating this card is that it is not created by banks, it is created by Apple. Using the card will show users charts of spending history, notification alerts, and allow them to manage their balance all on their Apple device.
The nifty, modern little card has no fees other than interest rate charges. Instead of reward schemes also, there is what Apple calls ‘Daily Cash’. Users can get 3% cashback on any Apple purchases made with the card, a sneaky way to entice you to buy yet more shiny Apple goodies. There’s also 2% for purchases made with Apple Pay, the contactless system, and 1% cashback if you physically use the card.
It’s made entirely of titanium, with an embossed imprint of the users’ name, a little information chip and of course the Apple logo. No numbers or other information clutters this thing.
It was made in collaboration with Goldman Sachs, a long standing investment bank and finance company which stands as a serious powerhouse down Wall St.
Of course, this isn’t set to replace your credit card, you still need a bank account hooked up to it after all, though it’s aimed as being a simpler and more transparent way of paying for things and understanding your own transactional activity. If Facebook’s ‘Libra’ currency down the line gains traction, that’s where you’re going to be ditching the relationship with your fusty bank entirely.
Your wallet will be welcoming this card fairly soon, as an early August release is expected, though only in the U.S. right now.