The release of the Apple Credit Card is scheduled for the first part of August.
Apple users can sign on Card via Wallet App, in which Apple Credit Card is set in as a part of updating IOS 12.4.
The main advantages of this card are security, no bank commissions, and daily 3% cashback.
The company worked on the project with Goldman Sachs Group Inc and presented virtual Apple Credit Card at the 25th of March.
Tim Cook said the Apple Card would not compete with premium cards like American Express and it should be accessible for all iPhone owners.
Apple Card represents it as a fully-featured financial instrument, which tracks your expenses. In such a way you can see the report of your spends, it helps to manage funds more skillfully.
At first, the product was developed for using via Apple Pay only, but for countries where Apple Pay works not officially, the company will emit physical cards with a brief white design. It will be made of titanium. On the card, you can see only the name of the owner, no CVV or expiration date. But the cashback will compile only 1% on all purchases.
The creators ensure that customers can easily sign up for an Apple Card, handle any operations with ease, or cancel the service — just call or send a message to Goldman Sachs. Apple can’t issue the credit cards; that’s why Goldman Sachs provides their services.