Apple Card is a credit card being rolled out by Apple. It is a no-fee credit card. It is a digital card which lives in your wallet on the iPhone. You can also request for a physical titanium card. To be eligible for the Apple Card, you must be a US citizen or lawful US resident above the age of 18 years. You will need a U.S. residential address too. You should have an iPhone running on iOS 12.4 or later and must be signed into the iCloud on your iPhone with your Apple ID. The key Apple Card features are discussed below:
Daily Cash is similar to cash back on other credit cards. It is a useful Apple Card feature which provides you Daily Cash on every purchase. There are no limits on the Daily Cash amount. You get 3% Daily Cash on everything you buy from Apple, 2% on buying using Apple Pay, and 1% on all your other purchases.
If you are unable to recall a transaction, Apple Card provides a useful feature for the same. You can tap on the transaction which will pinpoint it on a map. You will get complete details about the merchant and location where the transaction was made.
You should pay your credit card outstanding balance in full every month to save on paying interest. However, in case you are running short on money, Apple Card helps you to choose any amount which you can pay and calculates the interest liability for you. You can choose the ideal combination of balance you want to pay and the interest which you can service.
Most credit cards have random payment schedules which make them difficult to track. Apple Card makes your payment schedule uniform by fixing your payment on the last date of each month. This makes it easier for you to remember the schedule and make payment.
Another useful Apple Card feature is the color-coded summary reports and dashboards. Each category of expenses is color-coded. Orange is for food and drinks, yellow for shopping, purple for entertainment, etc. It helps you to get a useful summary of your expenses made on different categories. You can make informed decisions and change your spending patterns based on the summary report.
You get a unique number on your iPhone which is locked in your secure element. You will require your device number and one-time security code generated by your iPhone. You can authorize the purchase using Face ID or Touch ID which means that even if your iPhone is with someone else, it cannot be used to authorize payments and buy anything.
Apple Card is a credit card being rolled out by Apple. It is a no-fee credit card. It is a digital card which lives in your wallet on the iPhone. You can also request for...