Applications to Apple's new digital credit card, simply called Apple Card, are now available to all iPhone users in the United States. This follows a short period when Apple offers early access to a select number of customers who have signed up and a pre-employee test only.
Apple Card is a MasterCard, backed by Goldman Sachs, and is mainly managed and used in the Wallet app of the iPhone running iOS 12.4 or higher. Users can track their cost categories, pay the card, order a physical card and more from the app.
Apple aims to respond to several common credit card complaints with this product – for example, credit card transaction histories are often cryptocurrencies and it can sometimes be difficult to determine which vendor is charged if the abbreviated name is behind the charge no do not match the seller's publicly located name; Apple Card Transaction History shows full vendor names, along with splash images, corresponding to cost category where possible.
Additionally, Apple Card offers 3% cashback on purchases made at Apple storefronts or services such as Apple Store or Apple Music, 2% cashback on all other purchases made using the digital payment system Apple Pay to Apple, and a 1% cashback on purchases made with the use of Apple's titanium physical card sent to digital card holders on demand.
Other key selling points for Apple's targeted customers are transaction and fee transparency, balance-of-payments tools, and various privacy and security protections that are uncommon on many other cards. Consumers also have access to customer support through the iPhone Messages app and transaction locations on Apple Maps.
While press commentators have often speculated that this will be some exclusive card due to its ties with Goldman Sachs, a bank that is reluctant to serve the lower end of the market, consumers find in the early access periods that most people could apply for the card and be accepted, although credit limits range from a few hundred dollars to many thousands, depending on the applicant's income and other factors.
Users can apply for a card in the Wallet app today if they have iOS 12.4 or higher installed.
In addition to releasing the card to all iPhone users, Apple announced new cashback providers. Apple Card will offer 3% back on purchases from Uber or Uber Eats now, in addition to purchases from Apple itself. "Apple Card will continue to add more popular merchants and applications in the coming months," the Apple blog post promises.
Listing image from Apple