Economy

Apple announce Apple Card, and I kind of want one

Apple announce Apple Card, and I kind of want one

However, purchases made using the physical Apple Card will get just one percent cash back.

Apple Card allows users to sign up on their iPhone and start using their Apple Card right away.

But Apple's TV+ service, with its original shows from J.J. Abrams, Jennifer Aniston, and Oprah is something the world hasn't been asking for and doesn't need. The product was announced during Apple's services event on Monday and is slated to launch sometime this summer.

In comparison to other countries, Canada stands in the middle of the pack.

After introducing Apple Pay 4 years ago, Apple has just introduced their very own credit card that's simply called Apple Card. All the information will be stored digitally in the Wallet app. The card will calculate interest based on payment options and make more frequent payments easy. This, in tandem with the new weekly and monthly spending summaries, Apple hopes will give you a better vantage point over your overall expenditures.

Apple News Plus subscription for one month costs $9.99 in the U.S. and $12.99 in Canada. These rates were as of March 2019 and may change by the time Apple Card launches. Even producers of Apple's shows are unsure about numerous details about when and how audiences will be able to see their work. Fork out for something directly from Apple and you'll get three per cent back.

Some credit cards offer cash back, some Avios, others vouchers. The service comes with rewards too - it's called Daily Cash. Users will receive immediate cash back everyday. The physical card will earn only 1% cash back, incentivizing users to rely on the Apple Wallet version.

The company said it's learned a lot about credit cards since it has been offering the Apple Pay mobile payments app. It is typically possible to pay money off whenever you like of course, but it isn't always easy to see what's coming and going. The company said it wouldn't know where customers spend, how much they spend, or what they buy.

Apple Inc. CEO Tim Cook speaks during a company product launch event
Apple Inc. CEO Tim Cook speaks during a company product launch event

The card carries no fees - including annual, late, international, or over-the-limit fees.

According to Apple, there are no fees for the Apple Card. There are no annual, late, global or over-the-limit fees while interest rates are "among the lowest in the industry" claims Apple. Apple Card transforms the entire credit card experience by simplifying the application process, eliminating fees, encouraging customers to pay less interest and providing a new level of privacy and security.

Yes, but it isn't plastic.

What's even more interesting is the titanium card itself. But it doesn't have a number or expiration date printed on it.

Instead, Apple Card details can be found in Apple Wallet. The titanium card will have the user's name, and the Apple logo laser etched on it and that's it.

AppleIs the Apple Card secure? The financial institution backing the card, Goldman Sachs, won't be able to use your activity to sell to third-party marketers or advertisers.

The Apple Card is created to offer simplicity. Apple is also using machine learning to make it more easy-to-use. All transactions will display names and locations you recognise, with Apple Maps showing where you spent it. The app will also classify your purchases into categories, such as shopping, entertainment, etc. It shows your spending trends, as well as letting you categorise your spending, etc.

Apple will also have a 24x7 support staff available that you can reach through iMessage.

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