Apple’s credit card, Apple Card, which began rolling out to some beta testers and members of the media this week, uses MasterCard for processing payments.
Since it uses MasterCard’s network, the Apple Card is able to take advantage of benefits offered to MasterCard card holders, as pointed out by TechCrunch‘s Matthew Panzarino, one of the early testers.
MasterCard’s website offers a list of benefits available to Apple Card users, including fraud protection, identity theft protection, and a free ShopRunner membership that offers free two-day shipping from some websites. Other benefits include Mastercard’s travel discounts and upgrades, Mastercard’s exclusive “special events,” Mastercard golf offerings, and home rental discounts via Onefinestay, all of which are available to all Mastercard users.
Also of interest to potential Apple Card customers is a new base annual percentage rate (APR). When Apple Card was announced, Apple said that it would offer an APR between 13.24 percent and 24.24 percent based on credit score. Following the Federal Reserve’s decision to cut interest rates last Wednesday, the APR for Apple card has changed.
MacDailyNews Note: The world’s most widely-coveted credit card gets even better! See the list of benefits available to Apple Card users via MasterCard here.