Apple has recently announced that the company is going to launch a credit card that will earn cashbacks on the purchase of any Apple products. The company will collaborate with Goldman Sachs Group in this summer to launch the credit card. If we believe the sources, according to them the apple card is not as good as their counterparts.
The Apple credit card will get synchronized with the Apple wallet. The transaction initiated will get completed via Apple Pay as per the statement given by Vice President, Jennifer Bailey. This was announced in an event where there were couple of more other announcements made. The announcements include launch of streaming TV service and online gaming arcade. The event took place in Cupertino, California.
Benefits of card include two percent cashback on all the purchases done using their iPhone by the card holders and three percent to the ones who purchase Apple products. The card will use Mastercard network which will help the users to regulate their expenditures on monthly basis. The card will be launched by Goldman Sachs Group and will include high security. The new apple credit card will be made of titanium. The card will have the name of users inked and interestingly it hasn’t got numbers on it because of security concerns.
As per the research by the analysts, the offers are similar to what is already present in the market but the number of users holding apple phone will result in to high profit making. According to analysts at creditcard.com, the benefits that apple is providing is very less than what Citi group offer with its double cash card. In fact,U.S. Bank Altitude Reserve Visa Infinite card also provides more profit than what apple has to offer.
Majority, to be precise, 70% of vendors have accepted the credit card. The card will be available across the I globe in approximately 40 countries. People across the globe can use the card for their transportation transactions also. There will be not be any charges imposed for keeping the credit card. Neither any annual charges nor any international charges for keeping the card. There is no news as of now regarding the interest rate which the cardholders need to pay.
According to various consumers, the card will be helpful for those who purchase a lot of apple products and it is considered to be user friendly also. The credit card will be first of Goldman Sachs Group. Apple’s Vice President has assured that they will not sell any private details/ information’s to the third-party applications in any case. In fact, the card will also have some additional feature which will ensure strict security feature which will protect the data of users. The card includesFace ID and Touch ID for providing security. The tight privacy can be understood by the fact that even the information about the various purchases such as cost and location will not be leaked even to the company. The card is designed to provide its customer a very simpler, healthier and secure financial life.