Apple's brand new credit card, backed by Mastercard and Goldman Sachs, allows you to pay for goods and services online and in stores.but builds on this feature. It's a mobile payment system based on your existing credit card used by Apple since 2014.
You are full of questions, too. Will a digital Apple credit card make mobile payment finally ubiquitous? What benefits can owners get? How does it affect your balance when you change the phone? Unfortunately we do not have all the information yet, but Apple will release more before the official launch of the Apple Card.
Here you can find everything we know about Apple Card so far – including– and what else do we need to learn.
What is Apple Card?
Apple Card is a new brand credit card for iPhone users ($ 1,000 on Amazon) . It's both a digital card stored on your iPhone and a standard credit card backup that you can use if Apple Pay is not available. (It seems everyone will know this when they log in.) However, Apple believes that you're mostly using the digital version.
The physical Apple card is made of titanium and is named after a little drama, and so you can state by knocking it out loud against a glass.
Can I use Apple Card with an Android phone?
No, Apple Card is. You sign up with your phone for the credit card and pay with the iPhone. All digital card transactions also take place locally on your phone. You can not run any of these transactions from a separate browser or app.
Where can I use the Apple Card?
You can use the Apple Card in apps, online stores (such as web stores), and physical stores around the world where MasterCard is accepted. (Further information on the banking aspect below.)
Does Apple Card come to other countries?
Apple only announced plans for the US, but Goldman Sachs believes. Apple could use the US as a test environment before expanding into other countries. It is also possible that Apple is already negotiating with other banks and global institutions.
Which bank supports Apple Card?
Apple partners with Goldman Sachs to issue Apple Card, a Mastercard.
How is Apple? With the card can I track my finances?
If you've ever used a service like Mint or other financial apps, you may be able to get a picture of Apple's vision on your finances.
You can visually see clearly how much you spend on what, when it's due, and how much you owe. Apple also uses the Maps engine to link a purchase to a business. So, it's clear which direction your payment is going in (these things are usually cryptic, like "New York LLC," if you've taken a taxi.) Apple says they're used Machine learning to connect
You can also see how much you spent so far in a given week or month, and track purchases by categories such as meals and transportation. You can see how long it will take to pay off your debts.
What if I need help with using my Apple Card?
Apple says if you run into problems, you can send text directly from the app.
What are the rewards for Apple Cards?
Apple does not opt for a point structure. It gives you money back for every dollar you spend through a program called Daily Cash.
How much you get when you buy:
- 1% when using the Titan Apple Card (physical card)
- 2% when using the Apple Card (digital) with every purchase
- 3%, if you use the Apple Card (digital) for purchases made directly with Apple
The daily income is unlimited as long as you are within your credit limit. For example, if your spend does not exceed $ 3,000, your earnings may not be higher. You can track your daily money through a card in your wallet app.
How does the Apple Card relate to Chase Sapphire and Amazon Prime Rewards Visa?
We've broken that up for you:
What's the difference between Apple Card, Apple Pay and Apple Cash?
It's confusing, we know. We have also broken that down for you:.
Is Daily Cash Real Money? Where can I spend it?
Yes, this is real money that you can use right away. You can spend in stores, send to friends, use in apps or on the Internet, or pay for your credit.
What about the payment of interest and fees?
Apple Card allows you to pay more than once a month. For example, you can pay every week or every other week. It is not clear if you can pay daily if you want or if there is a bigger structure.
There are no late fees, annual fees, international fees or fees for exceeding your limit. But you will pay the interest. Apple says its variable APR will be between 13.24 percent and 24.24 percent, "based on credit." Prices can change.
What happens if I miss a payment?
Apple does not punish you with a penalty in addition to your missed payment (for example, it does not cost you $ 25 in addition to what you already owe)). However, you will build more interest on your existing balance. More.
Is the Apple Card Safe?
Apple has highlighted four main security options for the Apple Card.
- The card number : Apple creates a unique card number for each device that is stored in the security element, a security chip on your iPhone. With every purchase you receive a unique dynamic security code and authenticate each purchase biometrically via the Touch ID or the Face ID. Even if someone steals your phone, Apple can not use your Apple Card.
- Device, not a Cloud : Apple does not log what you bought or where and how much you spend. All tracking is on the device, not on Apple's servers.
- Your data is not for sale : "Goldman Sachs will never share or sell your information for marketing or advertising," said Apple's Bailey.
- An almost empty physical card : If you use the Apple physical card, you will find your name on it, but there is no card number, no CVV, no expiration date, and no signature. If you need the details, you can find them in the Wallet app. This is probably because other users can not use these important details for security fraud by stealing either a look or the entire card.
Is it bad that the physical Apple Card has no signature field?
Not necessarily. At the end of 2018, Mastercard was the first payment network where signatures and payment terminals are optional.
If I lose my physical Apple Card, can I order a new one?
Yes. If your card is lost or stolen, you can use the Wallet app to freeze your card and order a new one.
Does the physical Apple card have a magnetic stripe?
Yes, and there is also a chip you can also plug it into a chip reader.
Yes, Apple says you can pay with all your iOS devices. We have to confirm that it works with MacOS as well as with iPhone, iPad and Apple Watch.
What's next with Apple Card?
There are many details we do not yet know about the exact start, hidden fees, how the Apple Card affects people with little or no credit and when exactly the card is launched. Apple will undoubtedly share more in the coming months. Until then, we can only hope that more tidbits pour out.
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