Will Apple's digital credit card finally make mobile payments ubiquitous? What types of benefits can owners receive? How does it affect your credit when you change the phone? They are full of questions and so are we. Unfortunately we do not have all. What we have are the details we learned from the special event of the company.
Here is everything we know about Apple Card so far – including– and what we still have to learn.
What is Apple Card?
Apple Card is newly branded credit card for iPhone ($ 1,000 on Amazon) User. It's a digital map that's on your iPhone, with a standard credit card backup that you can use when Apple Pay is unavailable. (It seems everyone has it when he logs in.) However, Apple believes that you will mostly use the digital version.
The physical Apple card is made of titanium and is little drama with your name on it, so you can show yourself by clinking it loudly against a glass.
Can I use the Apple Card with an Android phone?
No, the Apple Card is. You log in to the credit card from your phone and pay via the iPhone. All digital card transactions also happen locally on your phone. You can not run them through a separate browser or app.
Where can I use the Apple Card?
You can use the Apple Card in apps, online (such as web stores), and in physical stores around the world where MasterCard is accepted. (More on the bank aspect below.)
How do I sign up for the Apple Card?
The Apple Card appears in the Wallet app on your iPhone, and you're signed in by tapping the Apple Card prompt in the Wallet. Apple guides you through the sign up process. You can also sign up if you are interested in further details.
Do I have to wait for a credit check?
You must be a well-qualified customer, although Apple does not share details about what that means. Apple says if you're approved, you can use your Apple Card in minutes.
When can I get it?
Apple will launch the Apple Card this summer via the Wallet app. It will come to the US first.
Does Apple Card come to other countries?
Apple has just announced its plans for the US, but Goldman Sachs believes. Apple may 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 is working with Goldman Sachs as a bank to issue the Apple Card, a Mastercard.
How can Apple Card help me identify my finances?
If you've previously used a service like Mint or other financial apps, then you may be able to get a sense of Apple's vision with your finances.
You can see visual representations that clearly show 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 to take (these things are usually cryptic, such as "New York LLC" if you're driving a cab.) Apple states that this is the case of machine learning to connect the dots.
You can also see how much you spent so far in a given week or month, and track purchases by category, such as meals and transportation. There is a view that shows how long it takes for you to repay what you owe.
What if I need help using my Apple Card?
Apple says if you're in trouble, you can send text directly from the app.
What are Apple Rewards?
Apple does not opt for a point structure. It gives you money for every dollar you spend through a program called Daily Cash.
How much you get when you buy:
- 1% when using the Titan Titanium Card (physical card)
- 2% when using the Apple Card (digital) with every purchase  3% at Using the Apple Card (Digital) for purchases made directly from Apple
The daily income is unlimited … as long as you are below your credit limit. For example, if your spend does not exceed $ 3,000, your income may not be enough. You can track your Daily Cash through a card in your Wallet app.