Apple has started rolling out its much-awaited Apple Card, a credit card created in collaboration with American Financial Institution Goldman Sachs.
The card has begun the preview rollout in the United States today, with a full-blown release expected to hit iPhone users gradually by this month.
As per Apple, people who have signed up for the Apple Card will be randomly picked and invited to sign up today. The Cupertino giant hasn’t disclosed the number of people involved in this preview though.
All iPhones running on iOS 12.4 will be eligible to sign up for the Apple Card. Users will be asked to share their personal details including birth date, address, income details as well as last four digits of the Social Security Number. This data is then sent to Goldman Sachs which will verify the credentials and check users eligibility. The eligibility check takes just a minute and later the card gets added to the Apple Pay account.
Users can also opt for a physical card made out of titanium, for free while signing up, however, the physical card has no number on it. All the details will be stored on your Apple Pay account, even Goldman Sachs won’t get to have a look at this data as it has a special agreement with Apple, thus eliminating annoying marketing calls.
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Benefits Of Apple Card
One of the biggest benefits of the Apple Card is that Apple won’t be charging its users any late fee. However, they will charge them the interest on the amount. Moreover, it also won’t be charging any annual or international fees.
Apple’s also got a rewards program where it offers 3 percent cash back on any Apple transaction- including Apple Store, App Store and even iCloud storage.
Users also get 2 percent cash back on any Apple Pay transactions and 1 percent cash back on purchases made with the physical card or virtual card number. The cashback can be used to pay off your balance, send to friends, or into your bank account.
The card is linked to Apple Pay that colour codes your expenses in categories that helps you keep a track of your spending.
When is Apple Card Coming To India?
Sadly, not anytime soon. The card is just started rolling out in the US and it will spread to other countries like the UK, Canada in the coming few months. Apple hasn’t revealed any plans for India yet. But looking at what it has to offer, it’ll definitely attract many users here.