The first ever Apple credit card or ‘Apple Card’ is set to release in the United States this summer 2019.
In partnership with Goldman Sachs, this card can serve as a digital wallet for iPhones plus, cardholders can even get 3% cash back on transactions made with Apple Pay.
Although news about its release only available in the US, Goldman Sachs CEO Richard Gnodde said in a statement published by CNBC that they are ‘exploring international opportunities’ for Apple users outside the United States.
“We are going to start in the U.S. but over time, absolutely, we will be thinking of international opportunities for it. We will launch it through the summer and we do think it will catch on quickly,” said Gnodde.
Revolutionary credit card
Apple claims that applying for this card is completely different and definitely hassle-free. A customer can sign up for the application through the mobile phone and if approved, the credit card can be used in minutes. It’s a refreshing process far from the customary two-week waiting period just to get an update on the application.
Aside from the digital wallet, Apple cardholders can also receive a titanium laser card to be used in any physical stores. Apple picked Mastercard as the payment network, which makes this card accepted everywhere.
One of the highlights of the Apple Card is the ‘no late fees, no annual fees and no international fees’ feature. The tech giant explained that it didn’t enter the credit card business just to create more money off the fees, rather, to help customers pay conveniently.
Moreover, Apple will also let customers set the schedule their payments to get away from interests.
When it comes to security, the Apple Card surely is protected because of the Touch ID and Face ID that are security features of the iPhones.