Apple is always on the lookout for new ideas, and this time they have turned their attention to credit cards of all things. Apple has announced that during the summer of 2019, it will be launching its new credit card in the United States and it claims that this card is superior to all other credit cards because it encourages people to spend less and offers cash back rewards.
Safety and security have always been a top priority for Apple, and this is no exception with the Apple Card with privacy and security built at the heart of this new Venture by Apple.
How do you get an Apple Credit Card?
Signing up for the Apple credit card is easy; simply sign up in your Apple Wallet app and you can start using your new credit card with Apple Pay right away. Support is no longer a phone call away; it is now only a simple SMS away. You can text Apple for support and save yourself the hassle of waiting impatiently on the phone for someone to pick up.
Better understand your spending
Everything you buy is listed by category and colour-coded in your Apple Wallet App. Want to figure out just what that charge relates to? Simply tap the map and it will pinpoint where you spent the money. Summaries of your spending are available on a weekly and monthly basis. You can also look at specific categories to determine where, when, and what you spent within that category. These summaries are all designed to help you understand your spending habits and how to better budget your hard-earned money.
Apple Credit Card Rewards
Yes, the new Apple credit card comes complete with its own reward program. For every purchase you make with your card, you receive a percentage back in cash. This cash is added to your Apple Cash card each day, ready for immediate use. Unlike most other credit cards, there is no limit to the amount of cash back you can earn on any given day.
The percentage of the cash reward varies slightly, depending on where you make your purchase. Anything you buy from Apple comes with a 3% cash back reward. This includes shopping at any Apple store, on apple.com, the App Store, and iTunes. Every other time, in all other locations, when you make a purchase using Apple Pay, you receive 2% cash back. Moreover, if you are shopping in a store that does not accept Apple Pay and use your physical Apple credit card, you will still receive 1% cash back!
What if a store does not accept Apple Pay?
While the number of locations that do not accept Apple Pay is shrinking every day, you are most likely going to run into a few places that do not accept Apple Pay via your phone. For these instances, Apple Credit Card also comes with a physical titanium plated credit card. In order to maintain the highest level of security, this card has no number on it, no CVV security code, and no signature. It is impossible for someone else to use your card, as they do not have access to any of this information.
Apple Credit Card fees and interest rates
The fee structure could not be simpler – there are none. No late fees, no annual fee, no cash-advance fee, no international fee, and no over-the-limit fees. Apple is working diligently to ensure the best possible and least expensive method of credit card payment for its customers. They stand out as unique in this field where other credit card companies seem determined to wring every last possible penny out of you.
Apple is unwavering in its quest to provide an interest rate on the lower end of the scale. To help you with your spending, your Apple credit card will show you a range of payment options when you are looking to make a purchase and the amount of interest you will pay on the item depending on the option you choose. You can then decide if the item is really worth the cost or not.
How to pay off your Apple Credit Card balance
To help make your life as easy as possible, Apple sets all payment due dates at the end of each month. Apple also offers the ability to set up weekly or bi-weekly payments. If your life is so busy that it is hard to remember that due date, Apple also sends out reminders.
Privacy and Security offered by Apple Credit Card
The privacy and security levels are so high that not even Apple will know where you shopped or what you bought. Every purchase is authorised with either a Face ID or Touch ID and a unique security code. This also ensures that no one can use your Apple credit card, even if they do manage to steal your iPhone.
Every time you make a purchase, Apple sends you an immediate notification. Therefore, if you receive a notification when you did not spend any money, you will instantly know that something is wrong. You will also be contacted if there are any unusual charges on your card. If you do not recognize a charge, simply tap and Apple will handle it from there, with no charges to you.
Apple Partners with Goldman Sachs and MasterCard
In order to provide its customers with the support of an issuing bank and the ability to make global payments, Apple has partnered with Goldman Sachs and MasterCard.
How to Get your Apple Credit Card
The Apple credit card will become available to US customers in the summer of 2019. To keep up to date with the latest news check out the Apple credit card page.
Considering getting a credit card?
The best credit card for you would depend on your personal circumstance and how you intend to use your credit card. We have put together a list of some of the best credit cards in New Zealand to help you find the best credit card in NZ to suit your individual needs. Alternatively, you can narrow down your search by credit card type such as interest free credit card, low rate credit card, balance transfer, credit card reward or air nz credit card