Apple Card :
Every time you hear the name ‘Apple’, it rings an exciting bell in mind. And your excitement [mine too] gets answered by ‘Apple’ with their exciting and new launches every time.
But this time, my excitement had a friend called ‘Surprise’ when ‘Apple’ announced the launch of ‘Apple Credit Card’ on 25th March.
I know you are now thinking like, “What…? The tech giant in financial sector…? I think it’s crazy…”
It’s not surprising that even I had the same crazy thought when I first heard it…
Fun Fact: Apple had launched its 1st Credit Card in 1986 with $2,500 of Business and Consumer Instant Credit each. But terminated the program after a short period.
But you know what… After knowing about ‘Apple Card’ up close by Jennifer Bailey, Vice President of Apple Pay. I was on the edge of my seat. I think you are gonna be happy about all the Apple Card’s features…
Well except… uhhh… one thing. But if you are an ‘Apple’ite [fond of Apple products] you might just ignore it.
Goldman Sachs and MasterCard have partnered with Apple. Apple’s giant ‘step’ to the financial sector with ‘Apple Card’ is truly a game-changer.
And with its diverse features ‘Apple Card’ might have spooked some big Stallions of the Financial Sector.
‘Apple Card’ is truly a next-gen piece in look and design. It’s made up of Super-strong metal ‘Titanium’. It doesn’t have the Card Number, CVV, Signature (or) Expiry Date on it. Except Apple Logo and your Name laser etched on it. But you will get a ‘Virtual Card No’ in your ‘Apple Wallet’.
It’s starting to sound cool right…? Well then check out the cool features of the Card.
> Card – Titanium made.
No Card number / CVV / Signature / Expiry Date on it.
> Virtual Card number – Provided in Apple Wallet.
> Details on Card – Laser etched Apple Logo and Name.
> No Extra Fees :
No Annual Fees.
No Cash Advance Fees.
No International Fees.
No Over-the-Limit Fees.
No Hidden Fees.
> Daily Cash Back :
3% Cash Back on Apple Products [Like iTunes, Apple store, Games, etc].
2% Cash Back on using Apple Pay [In Every Category].
1% Cash Back on using Apple Card [On Buying anything].
> Perfect Clear Transaction Details [unlike any other without Cryptic Coder].
> Location Track on your old Previous Transaction.
> Each Transaction needs your Face ID / Touch ID.
> Interest Rate is Pretty Low [one of the Best] [According to Credit Card Survey]
> Customer Service – 24×7 through Messaging.
> If Card is Lost/Stolen, you can freeze the card and order a new one through the Wallet App in a minute.
Well… What do you think…?
Features in Detail…
> Apple Card is a cool Next-Gen looking Titanium made Credit Card. So, the fear of physical damage to the Card should be the least of your concern.
> Apple Card has no information on it except the laser-etched ‘Apple’ Logo and your Name. No Card Number / CVV / Expiry Date / Signature. So, no fear of theft of your credentials. Instead, you will be given a unique ‘Virtual Card Number’ in your Apple Wallet App.
Apple is very well known for its vault-like security.
> So the same applies to the ‘Apple Card’.
> You and only you alone can command your Dragon [It means Apple Card gets only one user for one card no matter what…] No second person can be a user of your card [Not even your Wife/Husband].
> Each and every transaction of the Apple Card needs Face ID / Touch ID for Authentication.
> The whole ‘Virtual Version’ of the Card’s data is safely stored in the same iPhone Security Chip that handles Apple Pay.
> Every Purchase you make will be so secure that even ‘Apple’ won’t be knowing anything about your purchase history. So no 3rd person in your spending/shopping, it’s just you and your card [Except the Merchant].
> Jennifer Bailey, Vice President of Apple Pay declared that Apple’s banking partner ‘Goldman Sachs’ won’t use/sell any of their customer’s data for the third parties for marketing.
> If the Card’s is lost/stolen you can simply freeze your card and order a new one all just in your wallet app.
How Apple Card Works :
> Apple Card can be used all over the world.
> It can be used to buy anything… Be it In-app purchase, Games, Apps [virtual products], etc. And physical products like Mac Book, Clothes, Grocery, etc…
> Every Purchase and transactions get a Unique Cryptic code and stored safely in your wallet app.
Keep a Track On Your Spending :
> Every transaction you make with ‘Apple Card’ will have a picture-perfect transaction detail, unlike any other without cryptic merchant names.
> If you see a spending you don’t recognize, you can just ‘tap’ on it to pinpoint it on the map to show you the location of your previous transaction.
> Everything you spend on gets a colored category. So, it’s easy to track on what you are spending a lot on and what’s not. [Like a colorful update of what, when and where you spent].
Daily Cash Back :
> This is one of the main features that everybody searches with getting their ‘Credit Card’.
> So keeping that in mind ‘Apple Card’ is offering ‘Daily Cash Back’ deal to its Customers. It has different Percentages for different usages.
3% Cash Back on the purchase of Apple Products [Like iTunes, Games, Mac Book, iPhone, etc].
2% Cash Back on using Apple Pay [In every category].
1% Cash Back on using Apple Card [On Buying anything] Like a Coffee in Starbucks. And the Cashback is immediate on the day of your purchase [No need to wait for a Month].
Best Interest Rate :
> Low-Interest Rate is what makes Customers happy… And you will really be happy with ‘Apple Card’ when it comes to ‘Lowest Interest Rate’.
> According to ‘creditcard.com survey‘ Apple Credit Card has one of the lowest interest rates. But there are a wide range of Interest Rate.
> And if you can’t pay your balance in full every month don’t worry. It segregates and divides the total for you to pay as per your available Balance. And the card does the Math and estimates the best low interest for you.
> There are no extra fees for any of the usages.
No Annual Fees.
No International usage Fees.
No Cash Advance Fees.
No over-the-limit Fees.
And best of all No-hidden Fees.
So, it’s just you with your real Balance…
All these features make a good choice for getting a Credit Card. But the only thing that could have been much better is the ‘Daily Cash Back’ Deal. It could have been a little bit more like 3-5% on all kinds of Purchase. Where some Credit Cards offer such a deal.
Well, at last everything comes down to your choice. Feel free to share your opinion in the comment section below.