Apple has announced a credit card that will be like no other. But what do we know about the Apple Card? Well, let’s cover you everything you need to know.
How Do You Apply
The Apple Card will be different from other credit cards in numerous ways. Mainly being more integrated into the tech world, which is why we have decided to cover it in this article. When applying to the Apple Card you will get a physical card and a digital credit card integrated into your Wallet app.
This credit card is unique in the way you apply. Once the card has been released you simply use your phone to apply. No need to go through long sign up processes on the web or at an actual bank.
Once you have applied on your phone using your Apple Pay info, you can immediately start using the card. Then Apple will send you the engraved titanium credit card by mail. Everything is controlled through your phone. This means you will rarely have to use your physical card.
Activating your physical card is also very easy. As soon as you have received your credit card you go onto the Wallet app on your iPhone. Then you tap your phone to the card and you’ll be greeted with a nice animation. The animation will probably be similar to when you are connecting Airpods for the first time.
There are no bonuses when applying to the card. But this is not really a problem as the card itself is also free. There are no fees at all, not even hidden ones.
How Is The Card Integrated Into The Apple Ecosystem
As we touched on earlier the Apple Card is completely integrated into your Wallet app. The only reason why you would ever need to use the physical credit card is in stores that don’t accept Apple Pay. You can see the physical card as an accessory for the digital card.
There is no card or security number on the physical nor on the digital card. This is because everything will be managed on your phone. You have a digital number in your Wallet app. It is not clear yet if you have access to that or not. So whenever you pay with your Physical credit card, it connects to the iPhone. Then your iPhone tells the payment device your card number and accepts the transaction.
You will also be able to track all of your spendings in detail. Every time you make a purchase, your phone saves the location. This is very useful if you have forgotten where you have made a purchase, for example.
All of your spendings are displayed in a pie chart, similar to your activity rings on the Apple Watch. This makes it easier to see how much and where you spend your money. If you want to make a purchase online, it auto fills all of your credit card details.
The biggest tech feature this card has is that everything is integrated with the Apple ecosystem. Like we covered previously, everything related to the credit card can be done via the Wallet app on your iPhone. This means that integration is seamless and user experience is perfect.
One special feature that is possible through the Wallet app is being able to message support. Yes, you can message Apple to fix problems related to your credit card. In our opinion, this is how to future looks like. No need for formal phone calls just because you have a simple question about your account for example.
A very important aspect of anything related to finances is security. Apple has guaranteed us that they, nor Goldman Sachs or MasterCard can see what or how much you have spent using the Apple Card. If you want to pay with the card, you will also need to use Touch-ID or Face-ID. This is much safer than your generic 4-digit pin code normal credit or bank cards have.
So, we have covered a lot about the tech aspects of this credit card. Which is obvious considering we are a tech blog. But, we do feel the need to cover the 3 main financial features the Apple Card has. Just to give you a better perspective of what makes this card so different from others.
Apart from the huge tech integration, another selling point of the Apple Card is that it has no fees. No signup fees, no annual fees and when Apple said no hidden fees, they meant it. Apple will strive to give you the best interest rate via Goldman Sachs, one of their partners.
The benefit of this credit card is its cashback system. You will get 1% cash back when paying with the physical card, 2% cash back when using Apple Pay and 3% cash back when buying something from Apple. Usually, you will have to wait until the end of the month to get your money from the cashback service. Well, Apple has decided to give you the money instantly. This is a very nice feature in our opinion as you won’t have to wait for your money anymore.
Last but not least Apple has gotten 2 of the biggest companies in the finance industry to work with them. Goldman Sachs, which is a very respectable bank that has been around for about 150 years, will act as the issuer. Kind of like when you get an American Express credit card Amex is the bank behind it.
Mastercard will be the one who will handle all of the transactions and security. Like they do on any other credit card they are partnered with. Since Apple is working with these 2 major companies, we all know the Apple Card will be very easy, stable and secure to use.
The Physical Card
Last but not least we will cover the physical card. One of the main reasons the Apple Card gets so much attention is because of how special the card is. You will not find any other Credit Card like this.
It is a full titanium card that has no numbers on it. Only a subtle apple logo, the chip and your name on the front. On the back, it has an almost hidden magnetic stripe and the logo of both Goldman Sachs & Mastercard. Everything except for the magnetic stripe and chip is engraved. This gives it a very minimal look.
We have already covered a lot about what the card can do and how it is integrated into the tech world. So this is all we are going to say about it. Lastly, since there is no annual fee and requesting a new card is free and easy. We are sure a lot of people are going to sign up for this card just for the looks and design. But who blames them, who doesn’t want a free, minimal looking titanium credit card from Apple.