This could be the sleekest offering by Apple yet. And it could help users lead a healthier financial life.
Apple introduced its own credit card – the Apple Card, an innovative, new-age card that will help its users live a more satisfying financial life. This card is connected to the iPhone Wallet app, helping customers manage their card on the phone itself. According to its website, it represents all things that Apple is known for – “simplicity, transparency, and privacy.”
The Apple card is available only to iPhone users. The sign-up process is simple and users can begin using it with Apple Pay.
Apple is also looking to lure customers by having a compelling rewards program in the form of many cash back offers. Users will get a percentage of their purchase back in Daily Cash, every single day. For instance, users get 2% back every time they buy something using Apple Pay and 3% on everything that they buy from Apple. Further, there is no limit to how much you can get. The fantastic thing about these cards is that there is also no fees attached to it. Users don’t have to worry about annual fees, late fees, or over-the-limit fees at all.
Low Interest Rates
According to the website, the aim of the card is to provide the lowest interest rates in the industry. Apple Card calculates the interest on various payments in real time, giving users the opportunity to make an informed decision about how much of the balance they must pay down. It also offers customers the flexibility to schedule more frequent payments.
Ease of usage
Users will be able to check all their weekly and monthly transactions by simply tapping on the screen. Apple card uses a combination of Apple Maps and machine learning to vividly label all the transactions with the merchant names and the locations.
And all the expenses are colour-coded beautifully. For instance, orange transactions pertain to food and drinks whereas pink is related to entertainment. This gives users more awareness on their spending, and thus, greater control on the spending too.
High Security and Privacy
And would you believe it that the physical card has no number at all? This gives users a great degree of security as all the advanced security technologies of Apple Pay – Face ID and Touch ID – are built into the card. Every single purchase is authorized and secured using the Face ID or Touch ID and none of the transactions is stored on the servers of Apple.
Easy Customer Service
Just as with all other Apple products that focus heavily on customer experience, so this one does too. If you have any queries or questions about your card, all you are required to do is send a text. Yes, that is it.
While currently, this card is available only in the United States, Apple is looking to expand this service to all other countries where Apple Pay is available.
What do you think about this new financial offering? We are certainly going to begin using it soon. How about you? Do let us know!