Apple Card’s fine print

“Later this year, Apple is going to launch a new credit card that’s linked to Apple Pay and built right into the Wallet app, which iPhone users can sign up for,” Juli Clover reports for MacRumors. “Apple is partnering with Goldman Sachs for the card, which is going to be optimized for Apple Pay but will still work like a traditional credit card for all of your transactions.”

“There’s a lot of fine print associated with the new Apple Card,” Clover reports, “so we’ve created this guide to provide details on what you can expect when it launches in the fall.”

“As with any other credit card, there is a credit limit for Apple Card that will vary from person to person. A better credit score means a higher credit limit, and credit limit also increases over time,” Clover reports. “Apple says Apple Card will offer an APR between 13.24 percent and 24.24 percent based on your credit score.”

Apple's physical laser-etched titanium Apple Card
Apple’s physical laser-etched titanium Apple Card

“A wide APR range like this means Apple will be making this card available to most people, even those with less than stellar credit scores,” Clover reports. “There are tools built into the Wallet app to encourage you to pay off your balance quicker to avoid interest fees.”

Much more in the full guide here.

MacDailyNews Take: The wait for “this summer” is going to be interminable. We want our Apple Cards now!

Apple just revolutionized another industry with Apple Card. — MacDailyNews, March 26, 2019

Pay it off each month and the APR is meaningless; there is no debt, just free money!

Millions of dollars are being lost to Apple Pay fraud – Apple Card to the rescue! – March 27, 2019
Apple just revolutionized another industry with Apple Card – March 26, 2019
Introducing Apple Card, a new kind of credit card created by Apple – March 25, 2019


    1. That’s exactly what I was wondering. I was able to get an iPhone replaced by AMEX as well as a couple other items. AMEX has a really good replacement policy. If the Card matches that I’’m totally in.

      1. No mention of ‘extra’ card features like Price or Purchase protections. Maybe that’ll come later when Apple renegotiates card benefits with Mastercard and/or Goldman Sachs. The card’s Daily Cash feature may complicate those protections though.

  1. What would really be great about this card would be, if they provided a way for me to just purchase Apple (AAPL) stock automatically with my cash rewards. Hey, Apple are you listening!?

  2. I like how the card has no info on it like the numbers and cvv. that’s great when you need to hand it to a wait staff at a restaurant. last time I did that the waitress copied my info and had a friend who worked at a dept store use my card info and manually inputed it into their credit card processor to buy gift cards

    1. If the card has a magnetic strip though, a waitress could still “drop” the card and slip it through a skimmer.

      The only way this would truly be secure is if if only had a chip in it, but then a number of stores wouldn’t be able to accept it because a lot still haven’t upgraded their POS system to accept chip cards.

    1. The source article states “There is no option for multiple users or sharing cards at this time. There’s one card per person and one card per account.” The article mentions purchase notification so you know immediately when the card is used. If the user does not currently have a persistent data connection I guess that will be something additional to consider when getting the physical card.

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