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Apple launches its first credit card with daily cash rewards, no penalty, low interest
Apple launched its first credit card, the Apple card. It is a new kind of credit card created by Apple aiming to make customers' financial life better. It is built into the Apple Wallet app on the iPhone. The card aims to transform the credit card experience by simplifying the application process, eliminating fees, encouraging customers to pay less interest.
As of now, it is available only in the US. "Apple Card builds on the tremendous success of Apple Pay and delivers new experiences only possible with the power of iPhone," said Jennifer Bailey, Apple's vice president of Apple Pay.
Titanium Card: Apple has designed a titanium Apple Card for shopping at locations where Apple Pay is not accepted yet. With no card number, CVV security code, expiration date or signature on the card, Apple Card is secure. All this information is easily accessible in Wallet to use in apps and on websites. For purchases made with the titanium Apple Card, customers will get one per cent Daily Cash.
Features of Apple Card:
1. The card uses machine learning and Apple Maps to clearly label transactions with merchant names and locations.
2. In order to help the users understand and sort their expenses, purchases are automatically totalled and organized by colour-coded categories such as Food and Drinks, Shopping and Entertainment.
3. Apple Card also provides weekly and monthly spending summaries.
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