Apple Card: Everything you need to know about Apple’s new credit card


Apple CEO Tim Cook launches Apple Card, a bold effort to disrupt mobile payments.


Screenshot by Jessica Dolcourt/CNET

Apple turned the world of credit cards on its head on Monday by introducing its very own credit card: Apple Card. This is a card you can use to pay for goods and services online and in stores. By taking on payment cards, Apple is doing something that no other media giant has attempted, even Google and Samsung, two companies with their own mobile payment system. Apple’s clout is apparent. 

You’re brimming with questions, and so are we. Apple Pay’s VP, Jennifer Bailey, walked us through Apple Card at the company’s special event today. Here’s everything we know about Apple Card so far, and what we have yet to learn.

What is Apple Card?

Apple Card is a new branded credit card for iPhone users. It’s both a digital card that lives on your iPhone, with a traditional credit card backup that you can use where Apple Pay isn’t available. (It seems like everyone gets this when they sign up.) However, Apple believes you’ll predominantly use the digital version.

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Screenshot by Jessica Dolcourt/CNET

The physical Apple Card is made out of titanium, and has your name etched on it, just for a little drama, and so you can show off by clinking it loudly against a glass. 

Where can I use Apple Card?

You’ll be able to use Apple Card in apps, online (e.g. web stores) and in physical stores, anywhere in the world where MasterCard is accepted. (More on the banking aspect further below.)

How do I sign up for Apple Card?

Apple Card will live in the Wallet app on your iPhone, and you’ll sign up for it by tapping on the Apple Card prompt within the Wallet. Apple will walk you through the sign-up process. We haven’t seen this, but expect it to take a few minutes. This is, after all, a credit card.

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Spend your Apple Card Daily Cash rewards right from the Wallet app.


Screenshot by Jessica Dolcourt/CNET

Do I have to wait for a credit check?

Apple says that you’ll be eligible to use your Apple Card right away.

When can I get it?

Apple will launch Apple Card through the wallet app this summer. It’ll come to the US first.

Is Apple Card coming to other countries, too?

Apple only announced its plans for the US. It’s possible that Apple will use the US as a test bed before expanding into other countries. It’s also possible that Apple is already negotiating with other banks and global institutions.

Which bank backs Apple Card?

Apple is working with Goldman Sachs as its bank to issue Apple Card, a Master Card.

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Apple Card has all sorts of tracking charts in place.


Screenshot by Jessica Dolcourt/CNET

How will Apple Card help me track my finances?

If you’ve ever used a service like Mint or other financial apps before, you might be able to get a sense for Apple’s vision with your finances. 

You’ll be able to see visuals clearly depicting how much you spent on what, when it’s due, and how much you owe. Apple also uses its Maps engine to link a purchase with a business, so it’s clear what your payment goes toward (these things tend to be cryptic, like: “New York LLC” when you’ve taken a cab ride. Apple says it uses Machine Learning to connect the dots.

You’ll also be able to see how much you’ve spent so far in a given week or month, and track purchases by category, like meals and transportation. There’s a view to show how long will it take for you to pay back what you owe. 

What if I need help using my Apple Card?

Apple says if you run into trouble, you can send a text straight from the app.

What are Apple Card rewards like? 

Apple doesn’t opt for a points structure. It gives you cash back on every dollar you spend, through a program called Daily Cash. 

Here’s how much you get when you make a purchase through:

  • 1% when you use the titanium Apple Card (physical card) 
  • 2% when you use the Apple Card (digital) on any purchase
  • 3% when you use the Apple Card (digital) on purchases you make directly from Apple

There’s no cap to daily earning. You’ll be able to keep track of your Daily Cash through a card in your Wallet app. 

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Spend Daily Cash like cash.


Screenshot by Jessica Dolcourt/CNET

Is Daily Cash real cash? Where can I spend it?

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

What about paying interest rates and fees?

Apple Card will let you pay more often than once a month. For example, you can pay every week or every other week. It isn’t clear if you can pay daly if you want or if there’s more of a structure.

There are no late fees, annual fees, international fees or fees for going over your limit. 

What happens if I miss a payment?

Apple won’t slap you with a charge you a penalty if you miss a payment, but it isn’t clear what happens in the case of truancy or multiple missed payments.

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Apple will make you a physical card, too.


Claudia Cruz/CNET

Is Apple Card secure?

Apple highlighted four main ways it’s keeping Apple Card secure.

  • The card number: Apple will create a unique card number for each device, which is stored in the Security Element, a security chip on your iPhone. You get a one-time dynamic security code that protects your number. You authenticate each purchase biometrically, though either Touch ID or Face ID.
  • Apple doesn’t track what you bought or where and how much you spent. All the tracking happens on the device, not on Apple’s servers.
  • “Goldman Sachs will never share or sell your data for marketing or advertising,” Apple’s Bailey said.
  • If you’re using the physical Apple Card, you’ll notice that your name is on it, but there’s no card number, no CVV, no expiration date and no signature. If you need the details, it’s in the Wallet app. This is presumably so that others can’t swipe these essential details for security fraud by either stealing a glance or stealing the entire card.

Will it work with my iPad and Apple Watch? 

Yes, Apple says that Apple Card will work across all your iOS devices. We’ll need to confirm if it will work with MacOS as well as the iPhone, iPad and Apple watch.

What comes next with Apple Card?

There are a lot of details we still don’t know, like the exact launch, any hidden fees, how Apple Card might affect people with low or no credit and when exactly the card will launch. Apple will undoubtedly share more in the coming months. Until then, we can only hope for more clues.



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