Today, Apple is officially launching its latest service, Apple Card, but only to a subset of users ahead of a wider rollout later this month. The new credit card is limited to US users running at least iOS 12.4, and today it will only be available to certain people who signed up on the Apple website to be notified about the Apple Card. If you are part of the selected group, you can apply for an Apple Card right within the Wallet app, where the card will be added for immediate use when crediting for credit. A physical credit card is also sent out if you choose to receive one, built of titanium. For those not invited to early access, the entire Apple Card launch will arrive before the end of August.
Apple Card is the company's first official entry in the personal finance sector. In collaboration with Goldman Sachs, Apple positions the Apple Card as the kind of tech-native, user-friendly, hassle-free and fee-free card that you can't get anywhere else – at least not with the same level of Apple device integration. When you are an Apple Card customer, then in the Wallet app in iOS 12.4, you will be able to find all transactions, current balance, tools to help you avoid or minimize accrued interest and more. Some Apple Card features are common among competing credit cards and bank apps, while others are more rare. Even with something common though, like a transaction list, Apple puts its own spin on the feature: using machine learning and location information from Apple Maps, Apple makes transaction data more informative for Apple Card purchases, so that rather than a blurry line like & # 39 ; 3519 N Clark, C101 & # 39; you will see & # 39; 7-Eleven, Chicago, IL & # 39; and even the 7-Eleven logo. The use of business logos next to transactions is a small but influential difference.
Like other credit cards, Apple Card offers its own reward system in the form of Daily Cash. When you charge on the card, you will collect cash that can be withdrawn daily via the Apple Cash card in iOS, which has previously debuted as a way to send cash to friends over iMessage using Apple Pay. You can access daily cash rewards from Apple Card at any time by managing your Apple Cash balance, which you can transfer to a bank account free of charge. 2% daily cash is earned for Apple Pay transactions, 3% for Apple purchases (including the App Store) and 1% for everything else.
Featured reporters got hands-on time with Apple Card ahead of today's soft rollout, like Matthew Panzarino of TechCrunch and Nilay Patel of The Verge, and their early impressions indicate that Apple has provided the kind of experience it promised for Apple Card – Simple, iPhone native and with a hint of whimsical Apple.
Apple first debuted the Apple Card at its service-oriented event in March, and it now becomes the second service announced at the event to be released publicly, following Apple News + and ahead of Apple Arcade and Apple TV +. It is very different from all the other services announced in March, and is actually different from all other products offered by the company, so it may be appropriate that the roll out of the service is also different. The initial interest in Apple Card was high, so it will be interesting to see if a successful rollout can lead to more financial services in the future.