Today at Apple’s “Show Time” event, Apple has announced it all new credit card called “Apple Card“. The Apple Card is to be similar to a normal credit card but will have no fees, lower interest rates, and great reward.
When using the Apple Card via Apple Pay, users are to be rewarded 2% daily cash every day. If purchases were made directly from Apple Store, you get 3% daily cash every day.
To register an Apple Card, users simply need to sign up on the latest version of the Apple Wallet App. Just like any mobile banking App, The Apple Wallet App will also allow you to check how much balance is on the card and view all transactions made.
That being said, it won’t just a virtual credit card. Apple has said to release a physical card of the Apple Card too. Unlike normal credit cards, the Apple Card won’t have any credit card number, CVV number, an expiry date or a signature. All information of the card will be stored digitally on the Apple Wallet App.
Apple plans to release the Apple Card in summer 2019.