Introducing Apple Card, a new kind of credit card created by Apple

Saturday, 30 Mar, 2019

Just a few days ago, for example, Apple rolled out a public beta of iOS 12.2.

Apple unveiled their new Apple Card credit card at Monday's media event.

Apple has announced that the Apple News Plus service is being launched immediately in the U.S. and Canada and other geographies will start getting it in due course. This might give Samsung and Google pause, even if Samsung runs a credit-card company called Samsung Card in South Korea and even if Google once offered a physical debit card for Google Wallet. To help you decide if Apple's credit card fits your financial needs, the following are some of its critical details. First of all, to even apply for the Apple Card, you need an iPhone - all other mobile phone users are out of luck.

The other interesting product is the Apple Card. The Apple Card offers variable APRs in the range of 13.24% to 24.24% based on credit worthiness.

The Apple Card also come without any fees or penalties, including penalties for failing to pay a balance on time. After being criticised for using notifications to send out promotional messages for Apple Music, the new offender is the Apple News app, which does not display pricing information and subscription-related disclosures in the same way that Apple demands third-party developers do.

Apple has partnered with Goldman Sachs and Mastercard to provide the support of an issuing bank and global payments network. Apple News+, meanwhile, is available in the USA today priced at $9.99 a month (around £7.60 excluding taxes) with United Kingdom availability scheduled for later this year. This drops to 1% if the physical card is used.

Another unique feature that not only distinguishes the Apple Card from others but is also its biggest attraction is the Daily Cash rewards system. The card will decipher statements into something that's easier for people to read and understand and will automatically group purchases into categories and help customers track and develop insight into their spending habits.

Apple Pay is now available in over 40 countries, and in 70 per cent of merchants in the USA, 85 per cent in the United Kingdom and 99 per cent in Australia. While Apple won't charge a user a fee for paying late, such action, however, will negatively affect a user's credit score.

Coming in summer 2019, the $0-annual-fee Apple Card will earn 3% cash back on Apple purchases and 2% back for everything else - if you make your purchases via Apple Pay on your iPhone. The subscription costs $9.99 (approximately Rs. 701) per month in the US after a 30-day free trial, and gives readers access to hundreds of magazines and some premium content from newspapers.