Are you down to buy Apple‘s new credit card?!
At their “show time” services event earlier today, Apple announced that they are releasing an unexpected brand new product: the Apple Card.
They claim their credit card will improve some key things about the entire credit card experience, along with fewer fees, lower interest rates, and simpler legalese when it comes time for customers to use it, manage it, and pay.
Also, no wires. Guaranteed. Ha!
As for rewards, Apple is NOT doing a points-based rewards system, instead opting to give cash back in the form of what they’re calling Daily Cash. This money is applied straight to the Apple Card, and can be spent or put on paying down past purchases. Purchases made through Apple Pay will get two percent cash back; purchases at Apple will get three percent. Purchases made with the physical card itself will get just one percent cash back (again, they’re REALLY trying to do away with the physical card!!)
Apple isn’t going it alone on this new credit card, of course; as had been rumored the company is partnering with Goldman Sachs for Apple Card. Mastercard will handle payment processing.
The company was able to promise some cool things to customers because of their partnerships with long-standing credit card and businesses: first, the card has “no late fees, no annual fees, no international fees, and no over limit fees.” Whoa!!!
Lower interest rates have Apple promising that the APR rates will range from 13.24% to 24.24% based on each applicant’s credit score. Customers should also note that “late or missed payments will result in additional interest accumulating toward the customer’s balance.” Read the fine print!!!
But privacy continues to be a focal point for Apple, thankfully, with the company revealing that all the spending tracking and habits monitoring is stored directly on the device, and not on Apple’s servers.
Jennifer Bailey, Apple’s VP of Apple Pay, added more (below):
“Apple doesn’t know what you bought, where you bought it, and how much you paid for it … and Goldman Sachs will never sell your data to third parties for marketing and advertising.”
Wasn’t that supposed to be the case with Facebook too?
Poll: Will You Sign Up??
So you tell us, Perezcious readers!!! Will you sign up for the new Apple Credit Card?? Straight to the point (below):
Interesting results!!!! Reactions??
Before YOU decide, ch-ch-check out what Twitter is saying about the brand new product (below):
Lmao I think ima sign up for apples credit card cause fuck it 😂💀
— Kevin📸 (@kevinn14_) March 25, 2019
Do I need an Apple Credit card? No. Am I going to get one? Yes. #AppleEvent
— Edd Healy (@EddHealy) March 25, 2019
Apple Card? A new credit card from Apple.
Yes, you read that right.
— Jon Rettinger (@Jon4Lakers) March 25, 2019
Apple Card: a virtual credit card with a rotating security code, protected by a biometric, like Touch ID or Face ID. The physical credit card won’t even have a credit card number. If someone wants to commit fraud, they need to steal your phone and your face or fingerprint. https://t.co/3h6bb3dYNE
— No Old White Men 2020 🇩🇴 #AllBlackLivesMatter (@HarlemMC) March 25, 2019
*APPLE ANNOUNCES PERSONAL LOANS, MORTGAGES
*APPLE CARD COMES WITH DAILY CASH BACK. 2% IN DAILY CASH: SI
*APPLE ANNOUNCES CREDIT CARD
Great time to do this – 11 years into a credit cycle. Bravo on the timing
— Quoth the Raven (@QTRResearch) March 25, 2019
Apple creating a hardware video for a credit card that is mostly virtual on your phone is the most on-brand thing I've ever seen.
— Ben Thompson (@benthompson) March 25, 2019
Apple in 2017: removes headphone jack from iPhone
Apple in 2019: removes credit card number from credit cards
Apple in 2021: removes Earth from orbit#AppleEvent
— Schubes (@Schubes17) March 25, 2019
If you live in NY/LA and wear AirPods and an Apple Watch while using the Apple credit card, there’s a special feature where you get your ass kicked all the time.
— Jason Stein (@jasonwstein) March 25, 2019
Reactions, Perezcious readers?!
More From The Event
It’s not just a new credit card the world is talking about today… Apple also announced Apple TV+ and some other new developments you might want to know about earlier this afternoon, too!
Ch-ch-check out this quick seven-minute rundown to get completely caught up on what’s new with one of the world’s largest tech companies (below):
What do U think about all these new developments, Perezcious readers?!
Sound OFF in the comments (below)!!!
[Image via YouTube/Apple]
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