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Apple Card: Registration Info, Start Date and Privacy Protection for Apple's New Credit Card



Apple Card is a bold bet to disrupt mobile payments.


Screenshot of Jessica Dolcourt / CNET

Apple Card made the world about credit card on its head this week . Backed by Mastercard and Goldman Sachs, this is Apple's brand new credit card that lives on your iPhone and lets you pay for goods and services online and in stores. It's based on Apple Pay, a mobile payment system based on your existing credit card, which Apple has had in place since 2014. Using your own debit card, rather than piggybacking on your bank card, is a bold move for Apple that no other media giant has sought , also Google and Samsung, two companies that also have robust mobile payment systems.

Will a digital Apple credit card finally make mobile payments ubiquitous? What types of benefits will the owners receive? How does it affect their credit if they change phones? You are full of questions, and we are too. Unfortunately, we do not have them all. What we have is the details we got from the company's special event yesterday .

This is all we know about the Apple Card so far – including great prints – and what we haven't read yet.

What is the Apple Card?

Apple Card is a new branded credit card for iPhone ($ 1000 on Amazon) user. It is both a digital card that lives on your iPhone, with a traditional credit card backup that you can use where Apple Pay is not available. (It seems that everyone gets this when they sign up.) But Apple thinks you're using the digital version predominantly.

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Apple Card shows where you were when you spent.


Screenshot of Jessica Dolcourt / CNET

The physical Apple card is made of titanium and has your name etched on it, just for a little drama, and then you can show off by clinking it high on a glass.

Where can I use Apple cards?

You can use Apple cards in apps, online (eg online stores) and in physical stores, anywhere in the world where MasterCard is accepted. (More about the bank aspect below.)

How do I register for the Apple Card?

Apple Card will live in the Wallet app on your iPhone and you sign up by tapping Apple Short Message in your wallet. Apple will walk you through the registration process. You can also register if you are interested in more information along the way.

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<h2>  Do I have to wait for a credit check? </h2>
<p>  You need to be a qualified customer, but Apple does not share information about what it means. Apple says if you are approved, you are eligible to use your Apple card within minutes. </p>
<h2>  When can I get it? </h2>
<p>  Apple will launch Apple Card through the wallet app this summer. It comes to the US first. </p>
<h2>  Will the Apple Card also come to other countries? </h2>
<p>  Apple just announced its plans for the United States. It is possible that Apple will use the United States as a test bed before expanding to other countries. It is also possible that Apple is already negotiating with other banks and global institutions. </p>
<figure class=  2019-03-25-10-32-33 "data-original =" https://cnet2.cbsistatic.com/img/p_rkKIFmi9ieOR-9XNsRzK2ouvY = / 724x0 / 2019/03/25 / 3a8412e0-0aa2-4a02 -a908-3554e8c4f48b / 2019-03-25-10-32-33.jpg [19659027] 2019-03-25-10-32-33 [19659010] Spend your Apple Card Daily Cash rewards directly from the Wallet app. </p>
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Screenshot of Jessica Dolcourt / CNET

Apple uses Goldman Sachs as a bank to issue Apple Card, a Mastercard.

How will Apple Card help me track my finances?

If you have ever ever used a service like Mint or other financial apps before you might get a feel for Apple's vision of your finances.

You will be able to see pictures that clearly show how much you spent on what, when it depends and how much you owe. Apple also uses its Maps engine to link a purchase with a company, so it's clear what your payment is going for (these things tend to be cryptic, for example: "New York LLC" once you've taken a cab ride. to connect the dots.

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Apple Card has all kinds of tracking charts in place. [19659002] Screenshot of Jessica Dolcourt / CNET

You can also see how much you have spent so long in a particular week or month and track purchases by category, such as food and transport. It is possible to show how long it takes to repay what you owe.

If I need help using my Apple card?

Apple says if you run into problems, you can send a text directly from the app.

What Are Apple Card Rewards That?

Apple does not choose a scoring structure. It gives you money back on every dollar you spend, through a program called Daily Cash.

Here's how much you get when you buy through:

  • 1% when using Titanium Apple Card (physical card)
  • 2% when using Apple Card (digital) at purchase
  • ] 3% when using the Apple (digital) card on purchases you make directly from Apple

There is no cover that serves daily … as long as you are within your credit limit. For example, if your expenses cannot exceed $ 3,000, then your earnings cannot. You can keep track of your daily money through a card in your Wallet app.

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You can use the Apple Card for mobile payments.


Apple

Is Daily Cash Real Money? Where can I spend it?

Yes, this is real money you can use right away. You can spend in stores, send to friends, use them in apps or on the web, or use to pay down your balance.

How about paying interest and fees?

Apple Card lets you pay more than once a month. For example, you can pay weekly or biweekly. It is not clear if you can pay daily if you want or if there is more structure.

There are no late fees, annual fees, international fees or fees to cross your limit. But you pay the interest. Apple says moving APR will range from 13.24 percent to 24.24 percent "based on credit rating." Prices are susceptible to change.

What if I miss a payment?

Apple won't hit you with a penalty on top of your missed payment (eg it doesn't cost $ 25 beyond what you already owe). You will, however, collect more interest beyond your existing balance. More here .

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Spend daily cash as cash.


Screenshot of Jessica Dolcourt / CNET

Is the Apple Card Safe?

Apple marked four main ways to keep the Apple card secure.

  • Speed ​​Dial : Apple creates a unique card number for each device stored in the Security element, a security chip on your iPhone. You get a single dynamic security code every time you make a purchase and biometrically authenticate each purchase, but either Touch ID or Face ID. Even if someone steals your phone, Apple says they can't use your Apple card.
  • Device, not cloud : Apple does not track what you bought or where and how much you spent. All tracking happens on the device, not on Apple's servers.
  • Your information is not for sale : "Goldman Sachs will never share or sell your data for marketing or advertising," Apple's Bailey says.
  • An almost empty physical card : If you use the physical Apple card, you notice that your name is on it, but there is no card number, no CVV, no expiration date and no signature. If you need the details, there is the Wallet app. This is probably so that others cannot sweep these essential details for security fraud by either stealing a glance or stealing the entire card.

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Apple Card FAQs: What You Need to Know



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Is it bad that the physical Apple card has no signature field?

Not necessarily. At the end of 2018, Mastercard became the first payment network to make signatures optional on cards and on payment terminals.

If I lose my physical Apple card, can I order a new one?

Yes. If your card is lost or stolen, you can use the Wallet app to freeze your card and order a new one.

Does the physical Apple card have a magnetic stripe?

Yes, and it also has a chip you can insert into a chip reader as well. " 18-31-12.jpg “/>

This minimalist card does not have your signature on it.


Apple

Will it work with my iPad and Apple Watch?

Yes, Apple says Apple Card will work on all your iOS devices. We need to confirm if it will work with MacOS, iPhone, iPad and Apple watch.

What's next with the Apple Card?

There are many details that we still do not know, such as The exact launch, any hidden charges, how the Apple card can affect people with low or no credit and when the exact card should be started. Apple will undoubtedly share more in the coming months. Until then, we can only hope that more prenbits will flow out.

Article published March 25 at 12:01 p.m. PT
Last update, March 26 at 8:00 p.m. PT : Added more details.


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