Apple Card, a new kind of credit card created by Apple, is available in the US.
Built on simplicity, transparency and privacy, Apple Card has no fees, encourages customers to pay less interest, offers an easy-to-understand view of spending and provides a new level of privacy and security. This launch follows the Apple Card preview earlier this month, during which a limited number of customers were invited to apply early.
“We’re thrilled with the overwhelming interest in Apple Card and its positive reception,” said Jennifer Bailey, Apple’s vice president of Apple Pay. “Customers have told us they love Apple Card’s simplicity and how it gives them a better view of their spending.”
Apple Card has some of the essential features such as 24/7 support through simply sending a text from Messages. To help customers better understand their spending, Apple Card uses machine learning and Apple Maps to clearly label transactions with merchant names and locations in Wallet, and provides weekly and monthly spending summaries.
Apple says there are no fees associated with Apple Card: no annual, late, international or over-the-limit fees. To help customers make informed choices, Apple Card shows a range of payment options and calculates the interest cost on different payment amounts in real time.
Apple says its card also provides a new level of privacy and security. The unique security and privacy architecture created for Apple Card means Apple does not know where a customer shopped, what they bought or how much they paid.
Apple is partnering with Goldman Sachs as its issuing bank. Goldman Sachs says it will never share or sell data to third parties for marketing and advertising. Apple is also partnering with Mastercard to provide the support of a global payments network.
Apple Card is now available to qualified customers in the US with iPhone 6 and later