Apple Card allows you to pay efficiently. It is designed to help customers so they can live a healthy financial life by making safe transactions. It leads the customers toward a better future where they can understand the whole payment process and make smarter choices with their money. You can fully monitor your account activity with the Apple card.
Below are the Apple Card benefits, drawbacks, and everything you wish to know about it:
Apple Card Release date
The new Apple card has been currently launched in the US.
Apple Card Credit Score Required
Reports say that people with a credit score minimum of 620 are getting approved. Thus you have to maintain the mentioned credit score for your application to get a change of approval.
Apple Card Interest Rates
Apple Card offers an interest rate of APR between 12.99% and 23.99% which depends upon your credit score.
What Apple Device you need to access Apple Card?
You need an iPhone or iPad to use the Apple
card. The card is built to work with your Wallet app and that is the reason why
you need an iPhone or iPad to set it up. Apple cards are unique and they have
Do you need an Apple ID?
Yes, you do need an Apple ID or iCloud
account to access your Apple card. Also, you must have two-factor
authentication enabled on that account to make secure transactions. It will
take a few minutes to log-in to your account and you can use it to the fullest
Does Apple Card support multi-person accounts?
You can’t use your Apple card to create
multiple accounts. It is associated with the user’s Apple ID and details which
make it confidential for the authorized person.
Will Apple card work with Android?
It’s not possible to access your apple card
with an android system or device.
How can you pay for things?
The moment you authorize your Apple Card in
the Wallet app, you will be provided with a one-time security code that you can
use on the credit card scanner to pay for the purchases you make.
Losing your normal credit card can be a
threat. Though with Apple card, the snatcher will need to steal your phone and
your fingerprint impression.
What about Apple Pay on Safari?
When you set-up your card, Safari will
automatically receive the command for virtual Payment Authorization Number
(PAN). So the next time if you wish to purchase something online you can easily
pay via Safari.
Can you use Apple Card for Financing?
It is possible for you to use your Apple
Card to finance certain product purchases. Also, you won’t be charged with
interest when you use your Apple card for foreign exchange rates that are
controlled by MasterCard.
How do you repay the Card?
You can simply use Apple Cash to pay your
balance or you can use your bank account card to clear your Apple pay dues.
What are the reward rates?
You will receive 3% cash back on every
purchase you make from Apple’s card, 2% when you use Apple Pay and 1% when you
use your physical credit or debit card.
What are rewards?
You can win cash rewards with every transaction
you make. These rewards will be added to your Apple Cash account and will
appear as your current balance. Theses rewards are not like ordinary vouchers
or discount coupons but these are solid cash that will be added to your account
whenever you make a purchase.
How often are rewards paid?
It depends on how often you make online
transactions. If you make a purchase daily then you will receive cash rewards
daily. The company calls it “Daily Cash”.
If you return a product that you’ve bought
on Apple cash reward then you will be charged back the value of the cash reward
What about financial management?
The Apple Card in your wallet app will
monitor all kinds of transactions to keep you posted with how much balance you
are left with and how much you’ve spent. It enables you to view the interest
rates and your recent spending.
What should you do if you need help?
Contact the customer support in the Messages
icon in your wallet app to receive immediate assistance regarding your Apple
What does the app look like?
You can locate your Apple Card inside the
Wallet app on your iPhone. Tap to launch the app and you will see an image of
your Apple card. Click that image to view your balance, account activity and monitor
your recent transactions. You can also deposit the money in someone else’s
account and tap on the menu icon to view further information.
Has the service been tested?
Apple Card service has been tested by Goldman
Sachs and Apple’s employees. The people reviewed that the Apple card is very
convenient and it is an ideal replacement for digital wallets ever created.
What you can’t buy with an Apple Card?
With your Apple Card you can’t make
transactions for criminal purposes nor are you allowed to buy cryptocurrency.
Also, you are not permitted to breakout your Apple Card device.
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