Apple Card: What is it and How to use?

The Apple Card is Apple’s answer to a growing need for a card that fits seamlessly into the Apple ecosystem. Designed for Apple users, Apple Card combines easy spending tracking, Daily Cash rewards, and privacy features, all managed through an app - Wallet app. With simplicity and security at its core, the Apple Card enhances the Apple experience, making everyday spending straightforward and efficient.

What is Apple Card?

Apple Card is a digital-first credit card by Apple, developed in partnership with Goldman Sachs. It was first introduced on March 25, 2019, during an Apple event. It officially became available to U.S. customers in August 2019. 

It’s designed specifically for iPhone users and integrates fully with the Apple Wallet app, allowing users to manage spending, make payments, and track transactions right from their device. What’s special about Apple Card is that it offers Daily Cash rewards (also known as cashback) on purchases, with higher rewards for using Apple Pay.

Security is front and center with the Apple Card. There’s no printed card number, so personal information stays protected. Each transaction is verified with Face ID or Touch ID, adding an extra layer of security. Plus, for online shopping, it generates unique virtual card numbers to keep details safe. With these security features, its straightforward design, and no fees, the Apple Card has quickly become a favorite among Apple users.

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Outstanding features of Apple Card

The Apple Card stands out for its unique features, including daily cash rewards, no-fee policy and real-time tracking, and its security and privacy

Daily cash rewards

Instead of waiting for monthly cashback, wouldn’t it be nice to earn “Daily Cash” instantly with the Apple Card? You can get 3% cashback on Apple purchases, 2% on purchases made with Apple Pay, and 1% on transactions with the physical card. Imagine seeing that cashback immediately credited to your Apple Cash card in Wallet. This means you have quick access to your earnings for spending, saving, or transferring funds whenever you want, making it a convenient way to make the most of your purchases.

No-fee policy

The Apple Card really shines when it comes to being budget-friendly and straightforward. For starters, there are no annual fees, so you won’t be hit with a charge just for having the card. Moreover, if you love to travel, you’ll appreciate that there are no foreign transaction fees—no surprise costs when you shop abroad.

Even if a payment is missed, there is no need for concern; the Apple Card does not impose late fees, providing users with peace of mind. And you won’t have to stress about over-limit fees either. All these perks make the Apple Card a smart, hassle-free choice, perfect for anyone looking to manage their money without all the usual fees.

Real-time tracking

The real-time tracking feature of the Apple Card makes it easy to monitor your spending. With the Wallet app, you can see your transactions as they happen, giving you instant insight into where your money is going. It even organizes your spending into color-coded categories like Food, Shopping, and Entertainment, making it simple to spot your habits.

Plus, the app provides monthly spending summaries, helping you adjust your budget as needed. This transparency allows you to make smarter financial choices and stay on top of your finances

Security and privacy

Apple Pay makes it super easy to shop while keeping your info safe. When you add a card, your real card number isn’t stored or shared; it creates a unique, encrypted number for your device. This way, your card details stay secure, so you can shop worry-free.

Every time you pay, you just use Face ID, Touch ID, or your passcode to confirm it’s you. If you lose your phone, you can quickly suspend or remove your cards using “Find My iPhone.” Plus, Apple doesn’t track your purchases or share your info, so you can enjoy shopping without stressing about your privacy.

Possible drawbacks of Apple Pay

While Apple Pay offers many benefits, there are a few potential drawbacks to consider.

First, even though it’s getting more popular, not every place accepts Apple Pay yet. Some smaller shops or local businesses might not have the right tech to process Apple Pay transactions, which can be a hassle when you're trying to buy something.

Plus, Apple Pay is only available on Apple devices. So, if you don’t have an iPhone, iPad, or Apple Watch, you won’t be able to use the service. This can make it tough for people who use other brands or operating systems to take advantage of this convenient payment option.

How to Apply for the Apple Card

Follow the following steps to apply for Apple Card:

• Step 1: Check Eligibility: Before applying, ensure you meet the eligibility requirements, which typically include being at least 18 years old, a U.S. citizen or resident, and having a valid Apple ID signed in to iCloud.

• Step 2: Open the Wallet App: Launch the Wallet app on your iPhone. If you don’t have it installed, you can download it from the App Store.

• Step 3: Tap the Plus Sign: Look for the “+” icon in the upper right corner of the app to add a new card.

• Step 4: Select Apple Card: Choose the option to apply for the Apple Card.

• Step 5: Fill Out the Application: Provide the required information, including your name, date of birth, address, income, and Social Security number. The application will also ask about your employment status and any additional income sources.

• Step 6: Review Your Application: Before submitting, double-check your information to ensure everything is accurate.

• Step 7: Submit Your Application: Once you’ve confirmed your details, submit your application. You’ll typically receive a decision almost instantly.

• Step 8: Set Up Your Apple Card: If approved, you can start using your Apple Card immediately for Apple Pay purchases. The physical card will be mailed to you, usually within a few days.

In conclusion, Apple Pay really changes the game for making payments by offering convenience and security. While it might not be accepted everywhere and only works on Apple devices, the perks definitely outweigh the downsides. As digital payments take off, Apple Pay is bound to become a big part of how we shop.