Apple Just Debuted A Brand New Credit Card That Lives In Your Apple Wallet
Since Apple unveiled its easy Apple Pay, people have been opting out of swiping in favor of tapping. Well, on Monday, March 25, Apple unveiled a brand new feature to its repertoire. So, what is the Apple Card? Spending and saving has never been easier.
On March 25, everyone was wondering what new products and features Apple would be adding to its already impressive list of products. Personally, any Apple event is bad news for my wallet, but the company surprised many of us by unveiling a new and simple way to spend money. During the event, Apple introduced its Apple Card, which is a credit card that lives in the wallet app on our iPhones. I know what you're thinking: who needs another credit card? Well, listen up, because this particular card is unlike any other.
Not only can this card be accessed through your phone's wallet, but there's also a physical, titanium card with a sleek and industrial design that doesn't contain a CVV, expiration date, or signature. Basically, it's the infamous Magnises Card, but actually legit.
However, the appearance of this card doesn't even compare to the perks that come with it. With the card, you'll be able to see your previous transactions, how much money you owe, and how much money you spend on certain products. In addition, every time you make a payment with your Apple Card, you'll receive an immediate 2 percent cash back benefit, and when purchasing Apple products, that cash back increases to three percent.
That's all great, but here's arguably the best part. With the Apple Card, there will be no late fees, no annual fees, no international fees, and no over-limit fees. Literally, there are zero fees with this credit card. Is this real life?
So how did Apple manage to come up with this incredible, one of a kind deal? The tech company partnered with American investment bank Goldman Sachs and Mastercard to create this item. When you pair three notable companies together, magic is created.
This doesn't mean your information or spending purchases will be vulnerable. According to Apple, the tech company will have no knowledge of what members buy, and Goldman Sachs also promises that data will not be sold or distributed to marketing agencies. So, if you decide to treat yourself with a spa day and shopping spree one day, you can do so with total privacy.
Just when we thought Apple Pay was a game changer, they spring this on us. We'll have to see if the Apple Card holds up to its predecessor, especially since it's been a huge hit globally. According to a February 2018 article from Apple Insider, Apple Pay was used by an estimated 127 million people globally by the end of 2017. Seeing as how the feature was announced in 2014, that's quite an impressive growth rate to say the least.
If this all sounds perfect to you, though, don't get ahead of yourself. Per Apple, the card won't be available until Summer 2019. But after that, you're all clear to sign up on your iPhone and get to spending! One thing is for sure, you'll definitely enjoy that 3 percent cash back once Apple releases their new products.
