The Apple Card Drops This August. Here's What We Know.
Apple CEO Tim Cook announced that the Apple Card will begin being offered to users in the US in August 2019.
“Thousands of Apple employees are using Apple Card every day in our beta test. And we plan to begin the rollout of Apple Card in August,” Cook said, although he didn’t provide a specific date or launch details.
The card comes both in physical and digital form, living in both the wallet in the cardholder’s pocket and the Apple Wallet app on their iPhone. Apple says the Apple Card will have no fees, lower interest rates, better rewards, and provide a “new level of privacy and security.”
Apple Card customers will also receive cash back rewards through the Daily Cash feature, with a percentage of purchases being put straight back onto the user’s Apple Card. Purchases made through Apple Pay using the Apple Card recoup 2 percent, purchases from Apple will get 3 percent back, and purchases made using the physical Apple Card get back 1 percent.
The digital card can be used anywhere Apple Pay is accepted. Customers will be able to track purchases, check balances, and more right from the app, while Apple Card support is available 24/7 via text.
The Apple Card is the result of a partnership with Goldman Sachs, with Mastercard responsible for payment processing.
To get an Apple Card, users can sign up via the Wallet app. It hasn’t been made clear how long the credit approval process takes, but we can assume the process will be like other cards. The difference is that once you are approved, you have the card immediately in digital form in your Wallet app, with the physical version arriving later via post and free of charge.
Check the video below and let us know if you'll be flexing with an Apple Card.