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This is How Apple Credit Card Differs From Most Other Cards

Apple has finally released its own credit card called the Apple Card. In partnership with American multinational bank and financial services firm, Goldman Sachs, Apple has branched a little bit, out of its regular programming. The new Apple Card promises a few interesting features that suggest Apple’s hope in planting its own flag in the financial services sector.

Firstly, the process of acquiring one is apparently quite seamless. All an interested consumer needs to do would be to first go to the Apple Wallet app, select the plus sign located atop the device screen and then choose Apple Card. The rest of the process will take a maximum of five minutes, and after a very quick verification process, you can easily know whether or not you qualify for one.

It’s important to note that requesting for an Apple Card, because it requires considerable inquiry, could have some impact on your credit score. If you need a high credit score for a specific type of financial service, you might want to consider this before making an Apple Card request.

Also, Apple obviously put a lot of thought into aesthetics for the card. It’s a very sleek looking card without a lot of design, save for brand names of partners – Goldman Sachs and MasterCard. The Apple Card does not even carry a physical card number. Apple co-founder Steve Wozniak who permanently left Apple in 1985, has praised the card’s design. Speaking with Bloomberg, Wozniak said:

“The looks of it fit Apple’s brand. Apple’s branding is to have a lot of asynchrony about what they’re doing,but also styling and beauty. The card is the most beautiful card I’ve ever had in my life and I don’t even judge beauty in that way.”

The Apple co-founder has also praised Apple’s willingness to evolve, especially from what it used to be in the company’s early days, to where it is now. Wozniak believes that “being flexible and able to shift with the demands of the market is very important for a modern company that’s really going to make it.”

One major reason for the Apple Card is the firm’s quest for adoption of its own payment gateway, Apple Pay. It is thought that this option is the fundamental reason Apple came up with the Apple Card and has made the acquisition process as quick as it currently is.

For all consumers, Apple offers a 1% cashback reward when the physical Apple Card is used online or at checkout merchants offline, who do not yet support contactless payment. This number is increased to 2% when the Apple Card is used for contactless payments at physical stores or online. Apple then offers 3% for any purchases done through the card, at the Apple Store, Apple App Store or taking an Uber as well as ordering food via Uber Eats.

There have always been worries about how big tech companies handle information from private consumers. For the Apple Card, the company harps on the privacy of any transactions conducted and does not allow either Goldman Sachs or MasterCard to use the information, especially with marketers.

This is How Apple Credit Card Differs From Most Other Cards

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