The Apple Card Is Here

When Apple announced Apple Payback in 2014, it heralded the company’s first foray into the payments business.

- Benjamin Kerry & Gavin Lenaghan

A NEW TAKE ON THE CREDIT-CARD FORMULA

Fast-forward to March, at Apple’s ‘It’s Show Time’ event, and the Cupertino firm took yet another step, this time unveiling its own credit card, the Apple Card. The card, of which there is both a digital and physical version, may have been fully launched in the United States by the time you read this. But how exactly does the Apple Card differ from other credit cards, and should you consider using it?

A STRAIGHT-TO-THE-POINT INTRODUCTION OF THE APPLE CARD

In a video introducing the Apple Card, the Cupertino company has branded it “a credit card created by Apple, not a bank”. Nonetheless, Apple is partnering with Goldman Sachs to deliver the card, which has an enticing array of headline features. For example, it has no fees – not even “hidden fees”, so Apple claims – and like Apple Pay, is private and secure. Apple also says that the card imposes low-interest rates, although this will naturally depend on your credit score.

The recently-released iOS 12.4 has revamped the Wallet app with support for the Apple Card. This means you can sign up to it right now, provided that you are U.S.-based, you meet the other relevant criteria – more on that later – and, of course, Apple has flicked the switch serverside. In signing up, you can receive the digital card straight away and the physical card in the post. The Apple Card once set up, is available to use globally with any Apple device.