Apple Special Event: Apple Card

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What's better than a physical credit card? A digital credit card! Unless you still want a physical credit card... then there's that too.
Apple Special Event

Apple Pay

The Apple Special Event finally took place on the afternoon of March 25th, and I’m here to tell you all about it. As with every big event, I’m about to divide this up into parts. Have you already read about Apple News+? Get ready for Apple Pay.

I only started using Apple Pay recently, but Apple has announced that they are on track to pass 10 billion transactions this year. Now, you already know Apple Pay, so I won’t spend too much time on that – but I wanted to set the scene for this…

Apple Card: a new kind of credit card

At the end of the day, the purpose of this “Apple Special Event” was to expand on their digital services – which is exactly what we see with the Apple Card.

Apple Card

Using the explanation of how financial institutions are trying to put us more and more in debt, Apple has announced their efforts in leading customers to more and more savings.

The Apple Card eliminates fees, application processes, paves the way for less interest, but with a lot more privacy and a lot more security. Let’s take a look at some of the features.

Applying for Apple Card

apple card

No need to stay on the phone for hours or fill out endless paperwork – you can apply for your new credit card simply through the Wallet app on your iPhone. Best part? You can start using it immediately

“But what about customer service?” Don’t fret. Apple Card support will be available 24 hours a day, 7 days a week, and simply by sending a message from your Messages app.

Spending Insights

apple card - spending insights

The problem with many card companies (both credit and debit), is that we’re often unsure on how much we’re spending until we finally cave and check our bank account and see $-20.00 on our statements. Further more, you know those statements that are cryptic and you can’t figure out what “CRPO-230 Plaza” is and why you spent $10.00 there last week?

Using machine learning and Apple Maps, the Apple Wallet will label transactions and match statements to merchant names and locations. Forget your budgeting app, the Apple Card will not only label and colour code your purchases, but they’ll also provide weekly summaries on your spending habits!

And the best feature: Daily Cash

Apple card - daily cash

All credit cards I’ve used have had this “cash back” program where at the end of every month, quarter, or even year, you get a certain % of cash back which can be redeemed to pay off your balance.

Daily Cash is just another way to refer to this, but with the added benefit of … daily cash. Instead of waiting for the back to your cash, Apple provides cash back on every single purchase, every day. The rewarded cash can be used either to pay your Apple Card balance or send it to friends and family.

  • Purchases made directly with Apple = 3% Daily Cash
  • Using the Apple Card through Apple Pay = 2% Daily Cash
  • Using the Apple Card physically = 1% Daily Cash

Yes, I said “Apple Card physically”

Apple Card

Feast your eyes on this beauty. For places that haven’t adapted to the wireless Apple Pay, Apple’s titanium Apple Card will do the trick.

Look a little closer. No number, no name, no expiration date… not even a signature. There’s nothing on this card, which makes it incredibly secure. This new card is basically Apple Pay but … tangible!

Other (important) features include

  • No fees. I don’t care if it’s annual fees, late fees, over-the-limit fees. You’re not getting any of it.
  • Added level of privacy and security. Every purchase using the Apple Card is secured using your Face ID or Touch ID and a randomly generated dynamic security code that’s associated with each transaction. Even Apple won’t know where, when, or how you spent your money.

Available this summer, this is Apple Card.

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