Apple announces Apple Card credit card

[psycopk]

Apple announces Apple Card credit card

33

Coming summer 2019

By Chaim Gartenberg@cgartenberg  Mar 25, 2019, 1:28pm EDT

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At Apple’s “show time” services event today, it announced a new Apple Card credit card, promising to improve things about the credit card experience with simpler applications, no fees, lowering interest rates, and offering better rewards.

To get an Apple Card, users will be able to sign up on their phone in the Apple Wallet app and get a digital card that they can use anywhere Apple Pay is accepted “within minutes.” Customers will also be able to track purchases, check balances, and see when their bill is due right from the app. There will be a physical, titanium card too — but there’s no credit card number, CVV, expiration date, or signature, with all that authorization information stored directly in the Apple Wallet app.

 

Apple also says that it’ll be using machine learning and Apple Maps together to help label stores that you use in the app, and use that data to track purchases across categories like “food and drink” or “shopping.”

Instead of a points-based reward program, Apple Card gives cash-back rewards in the form of “Daily Cash,” which is applied straight back toward your Apple Card to spend or put toward your purchases. Apple is offering a straight 2 percent cash back on purchases made through Apple Pay using an Apple Card, and purchases from Apple will get 3 percent back. Purchases made through the physical card will get just 1 percent cash back, though.

 

As rumored, Apple is partnering with Goldman Sachs for Apple Card, with Mastercard handling payment processing. Additionally, the company is promising that there will be “no late fees, no annual fees, no international fees, and no over limit fees” with Apple Card — and “lower interest rates” with no penalties for missing payments, although it hasn’t said what those rates will be. (The company also notes that “late or missed payments will result in additional interest accumulating toward the customer’s balance.”)

Like many of Apple’s products, privacy is a big push here: “Apple doesn’t know what you bought, where you bought it, and how much you paid for it,” says Jennifer Bailey, VP of Apple Pay. All the spending tracking and other information is stored directly on the device, not Apple’s servers. The company also promises that “Goldman Sachs will never sell your data to third parties for marketing and advertising,” either.

[Spartan]

Good one..but restricted only for IoS aa.

[Spartan]

There are financial incentives to use the card. There are no fees (not even international or over-the-limit fees), interest rates are "low," and clear reward programs. Daily Cash, for instance, gives you 2 percent cash back the same day you make any Apple Pay purchase (3 percent if it's for purchases from Apple) rather than making you wait until your billing period is over.

The card won't be limited to the digital realm. The company is prepping a real-world credit card made from titanium (yes, really) that has no credit number, signature or other potentially identifying info. If a store can't handle Apple Pay, then, you have a way to use your card without fear that a thief could make easy use of it. All of your identifying info will sit in the Wallet app, after all.

Apple Card launches in the US this summer. There are still many unknowns, but it's safe to say this is uncharted territory for the company. While it already dipped into finance with Apple Pay Cash, it's now providing the same kind of service you'd expect from a bank, not a tech giant.

[DrBeta]

It's made with titanium but it is useless. Style over substance, Apple's Moto.

[jefferson1]

1 minute ago, Spartan said:

There are financial incentives to use the card. There are no fees (not even international or over-the-limit fees), interest rates are "low," and clear reward programs. Daily Cash, for instance, gives you 2 percent cash back the same day you make any Apple Pay purchase (3 percent if it's for purchases from Apple) rather than making you wait until your billing period is over.

The card won't be limited to the digital realm. The company is prepping a real-world credit card made from titanium (yes, really) that has no credit number, signature or other potentially identifying info. If a store can't handle Apple Pay, then, you have a way to use your card without fear that a thief could make easy use of it. All of your identifying info will sit in the Wallet app, after all.

Apple Card launches in the US this summer. There are still many unknowns, but it's safe to say this is uncharted territory for the company. While it already dipped into finance with Apple Pay Cash, it's now providing the same kind of service you'd expect from a bank, not a tech giant.

Interest rate entha 

vere stores lo use cheyocha, dcu 10% isthundi is this better than that 

Apple Pay I don’t care 

[psycopk]

3 minutes ago, Spartan said:

Good one..but restricted only for IoS aa.

other credit card companies lo stocks unte.. better to quit now

[Spartan]

1 minute ago, jefferson1 said:

Interest rate entha 

vere stores lo use cheyocha, dcu 10% isthundi is this better than that 

Apple Pay I don’t care 

' interest rates are "low," "

number cheppaledu.

and cash back comes to u end of the day itself..rather than coming at end of billing period.

[Deadp0ol2]

a Big fail

[Spartan]

2 minutes ago, psycopk said:

other credit card companies lo stocks unte.. better to quit now

i dont think it will hamper yet.

endukante background lo processing chesedi still MasterCard vade.

[LordOfMud]

• Apple's March 25 'Show Time' event begins at 10.30pm IST
• Apple is expected to launch a video streaming service
• This service is expected to rival Netflix, Amazon Prime Video

[jefferson1]

Just now, Spartan said:

' interest rates are "low," "

number cheppaledu.

and cash back comes to u end of the day itself..rather than coming at end of billing period.

Like Best Buy/eBay lo use cheyocha 

[psycopk]

Just now, Spartan said:

i dont think it will hamper yet.

endukante background lo processing chesedi still MasterCard vade.

Big companies targets ani... charge less.. have more customers strategy... everyone wins...  other companies ki band.. like amazon

[Spartan]

Just now, jefferson1 said:

Like Best Buy/eBay lo use cheyocha 

ekkadaina use cheyochu same like ur credit card.

[Spartan]

Just now, psycopk said:

Big companies targets ani... charge less.. have more customers strategy... everyone wins...  other companies ki band.. like amazon

how will it impact amazon or other..?

this is payment service right..

and customers strategy ante..he stated they wont track what the person had bought and for how much ani.

(which might be ridiculous to believe..though)

[jefferson1]

1 minute ago, psycopk said:

Big companies targets ani... charge less.. have more customers strategy... everyone wins...  other companies ki band.. like amazon

Citi cards vadu 20-24% charge xhesthadu 

ippudu vadiki pedda bend anukunta