Published: Fri, March 29, 2019
Electronics | By Kelly Massey

Apple enters financial services market with privacy-first credit card

Apple enters financial services market with privacy-first credit card

Tim Cook introduces the Apple Card. It is not for sure how many card Apple issue back in the 1980s and 90s and when they were discontinued.

But is the Apple Card right for you?

This might come as a surprise, considering Apple has been hyping Family Sharing for most of its new services, but if you get the Apple Card, you will not be able to add a family member as an authorized user. Again, it's worth repeating: you're going to want to use Apple Pay as much as possible if you want to maximize your rewards.

Titanium physical Apple Card for locations without Apple Pay support, without card number, CVV code, expiration date, or signature on it - more secure than any other such product now available. Simply - and obviously - called "Apple Card", this is more than just a credit card.

A unique card number is created on iPhone for Apple Card and stored safely in the device's Secure Element, a special security chip used by Apple Pay. "Apple could have made a similar push for a broader customer base but did not". The service provides users a sleek digital credit card that offers cash back rewards, no major fees and a level of transparency and control over how they repay purchases and manage their overall finances that few products can match.

They also earn 2% cashback on each day's purchases rising to a 3% reward for buying direct from Apple.

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By signing up with Apple's latest news subscription service, publishers render their subscriptions unnecessary in exchange for a tiny slice of $10 per month that Apple charges users for unlimited reading. A couple of button presses could summon your favorite payment method - credit card, debit card, gift card, you name it - on your iPhone or Apple Watch, which you'd then touch to a merchant's NFC panel to pay.

Earlier today, Apple announced its credit card that was built for simplicity, transparency, and privacy and should hit the USA market this summer.

That 1% to 2% cash back is pretty average. Many cards offer up to 5% cash back on things like dining and entertainment, groceries, or gas. The remodeled app became available Wednesday morning via the iOS 12.3 and tvOS 12.3 update, which showcases the new look and teases the company's Channels feature.

No annual fees, global fees or late fees.

"If any of them had made a decision to throw their weight around by threatening to sever ties with any card network that played ball with Apple Pay, (then) Visa and Mastercard would not have allowed the service to get off the ground". Apple referred to the rates as "low", but the average April in 2018 was 14.22% so what Apple offers isn't actually much better.

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