Published: Thu, March 28, 2019
Money | By Arnold Ball

Apple enters financial services market with privacy-first credit card

Apple enters financial services market with privacy-first credit card

The only difference is that it won't link to your current bank with Apple looking after all the payments and bills.

The interest rate on the Apple card is good for people with great credit scores and is even lower than the national average of 17.67%, according to a CreditCards.com survey. That said, here's what we know about Apple's new credit card, which becomes available to qualifying applicants in the USA this summer. For example, U.S. Bank, with its Altitude Reserve Visa Infinite card (3% cash back on mobile wallet spending), actually offers better Apple Pay rewards than Apple does on their own credit card.

Apple has debuted a physical credit card to work with its virtual payment service, and people are taking notice of its sleek and minimalist design. What he noticed was that Apple News+ Magazines isn't using Apple's own FairPlay.

The unknown: Apple hasn't said how much it's going to cost.

Customers can subscribe to Apple TV channels a la carte (in the USA, this includes HBO and Showtime) and watch them in the TV app, with no additional apps, accounts or passwords required.

But to be sure, although Apple Pay is gaining popularity, it is not widespread.

2% cashback if it gets used through Apple Pay or Apple cash purchase. Apple Card cash back rewards is immediate and depends on how consumers spend on purchases. The company says the new choices can be bought individually on demand, much like how its iTunes service works. Did you know that 70 percent of businesses in the USA accept Apple Pay?

"If any of them had chose 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".

Just like Netflix and Amazon, Apple is also investing in Original content exclusive to its Apple TV+ platform. It's done through color-coded categories like Entertainment (orange) or Food and Drinks (pink).

Gareth Southgate says England hat-trick hero Raheem Sterling was devastating
Callum Hudson-Odoi has been called-up to the England squad for the first time for the Euro 2020 qualifiers against the Czech Republic and Montenegro. "I thought Raheem was electric".

So it's for money you already have, rather than credit you don't have - which some might see as a benefit. Bearing no numbers whatsoever, the physical card also contributes to Apple's objectives to keep everything more secure.

However, Apple said its the card would only be available to qualified customers in the United States.

Kalpadia noted that the overall success of the card could depend heavily on the flexibility of credit standards by Goldman Sachs.

It looks different from a traditional credit card - it has no number on the front, and the users' name is etched in metal. And while that's valid for only the first few pages of each issue, Steve noticed that Apple News+ also downloads a list of all the pages with their unique URLs, which are hosted publicly and can, therefore, be accessed directly once you have the specific address. Those late fees - which can go up to $28 for the first time and $39 for subsequent late payments - can add up if you're frequently behind on payments.

Also, this card offers calculation of interests on ranges on payments available.

Apple wants a permanent place in your wallet, and beginning this summer, you'll be able to give it one.

While these perks are nice, other cards have similar budgeting tools, and the information incorporates only purchases and payments for Apple Pay and the Apple Card, so it's not providing a full financial picture.

Two days ago Apple introduced Apple News+, an addition to their Apple News app which offered access to 300 magazines and subscription newspapers like the Wall Street Journal for $9.99 per month, something Apple said was worth $8000 per year.

Like this: