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Apple Card to Debut this Summer

Apple just announced it will launch a credit card to debut this summer. Apple Card will work with Apple Pay and the Wallet app.  It is user-friendly and boasts low-interest rates. The card owner controls everything through the Wallet app, such as transaction history, scheduled payments, due dates, and a breakdown of money spent by category.

 

Account Management

Settings and Customer Support can be accessed by text messaging.  This feature alone makes maintaining the account incredibly easy and convenient. For example, if you need to change personal info like your address, just shoot a text over and Apple will make the update for you.

 

Interest Rates

Let’s talk about the low interest rates and how the card can save its users money. Not only does the card offer 2% cash back for Apple Pay transactions and 3% for Apple purchases, but also there are no annual fees or late fees. Payments can be made in any amount chosen.   In addition,  Apple informs the card owner how much interest would be paid for that specific amount. Most credit cards profit from interest rates because they highlight the minimum payment due and this costs you more money over time.

 

Cash Back

There is also an actual laser-etched titanium card for those non-electronic or non-Apple Pay purchases. Purchases with the card receive 1% cash back. The card has no numbers displayed on it.  But you can find that information within the Wallet app.   Now, the Wallet app uses the advanced security feature of Face ID or Touch ID.

Apple Pay is rapidly growing throughout the world. In fact, the US is at a 70% percent acceptance rate. With the introduction of the Apple Card and the ease at which Apple Pay and Wallet App function, Apple Card seems like a no-brainer. However, this exciting new option is still a credit card. For those interested, you must apply to begin reaping the benefits of it. The approval process is extremely quick.  And for those that qualify, you can begin using the digital card almost instantly. With that being said, take time to read the fine print to make sure the seemingly user-friendly Apple Card is a good pick.

 

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