Apple rolls out virtual credit card

UPDATE 1-Apple, Goldman Sachs start issuing Apple Cards to consumers

The card will come without a visible number.

Apple noted that the purchase information will get stored on the user's iPhone and will not be accessible to the company.

How is it different from Apple Pay? Under CEO Tim Cook, however, the company has not been waiting idly for that maturation of the product line and has redoubled its efforts on selling services, subscriptions to things like Apple Music - and on introducing new products like Apple Card, which a new survey says is shaping up to be a "hit" product for Apple, despite barely any marketing. Users can request a new virtual card anytime they wish to from the Wallet app.

"I got to hold the card itself and it is very nice, although it is fairly thick and felt a little bit heavier than the typical metal credit card".

The card service should be usable once added to the Wallet app, and the physical, all-titanium card should arrive in a few days. Daily Cash can also be sent via Messages, and you can also deposit to your own bank account.

The sign-up process requires an Apple device that runs on iOS 12.4 and involves entering personal data such as an address, birthday, income level, and the last four digits of the user's Social Security Number. So some videos, like the in-store payment and online payment clips, are kind of unnecessary if you're familiar with contactless payments. A credit card expert, however, stated that the Apple credit card might not prove to be an instant game-changer simply because of the reason that other established credit card brands offer a range of benefits. That's slightly lower than what Apple initially advertised, pushed down by the Fed's rate cut.

That being said, Macworld notes that the most comparable cash back credit cards on the market are the Chase Freedom Unlimited, Citi Double Cash and CapitalOne Quicksilver cards. "It's also a part of Apple's master plan to replace your physical wallet with technological solutions that live inside its hardware and software ecosystem", points out Arielle Pardes for Wired.

"Apple has already rolled out digital transit cards to replace metro tickets in Beijing and Shanghai".

The card was first announced in March and will be available in the United States. It's working on creating digital tickets to performances, sports events, and movie theaters. Given Apple's emphasis on checking spending and giving users the ability to see how interest impacts their payments, a charitable reading of these features is Apple wants you to build some healthy financial habits.

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