Following a limited preview earlier this month, Apple has today opened up applications for Apple Card to all US customers. Users can apply through the Wallet app on an iPhone running iOS 12.4 or later, and in most cases receive instant access to Apple Card if approved. Opening the Wallet app then tapping the plus button in the top-right leads to the option to add Apple Card.
Alongside Apple Card’s wide release, Apple is announcing that its Daily Cash program is getting better thanks to a new partner that supports the highest 3% Daily Cash rate which was previously exclusive to Apple purchases.
Apple Card is extending 3 percent Daily Cash to more merchants and apps. Starting today, customers will receive 3 percent Daily Cash when they use Apple Card with Apple Pay for Uber and Uber Eats. Customers can request a ride through Uber in more than 700 cities across the globe and order a meal through Uber Eats in more than 500 cities around the world. Apple Card will continue to add more popular merchants and apps in the coming months.
Apple has never before mentioned that it would be seeking additional partners to support the 3% Daily Cash rate. Initially that rate was limited to purchases from the Apple Store, Apple.com, the App Store, and other Apple services; 2% is the standard Daily Cash rate available for Apple Pay transactions, and 1% for everything else. Adding Uber and Uber Eats to the 3% pool, with “more popular merchants and apps” in the pipeline for future partnerships, makes Apple Card’s Daily Cash program more attractive than before – a welcome surprise for the card’s wide release.
Today Apple is officially launching its latest service, Apple Card, but only to a subset of users ahead of a broader rollout later this month. The new credit card is limited to US users running at least iOS 12.4, and today it will only be available to certain people who signed up on Apple’s website to be notified about Apple Card. If you’re part of that chosen group, applying for Apple Card can be done right inside the Wallet app, where the card will be added for immediate use upon credit approval; a physical credit card is also mailed out if you choose to receive one, built from titanium. For those who don’t get invited for early access, the full Apple Card launch will arrive before the end of August.
The Apple Card has been the subject of a lot of attention and speculation since it was announced at Monday’s Apple event. The US-only card won’t be out until this summer, but Matthew Panzarino, TechCrunch’s Editor-in-Chief, has details on exactly how the card will work that weren’t covered during the keynote.
Panzarino sums up the card’s benefits nicely:
Overall the Apple Card has some relatively unique and interesting takes on data transparency for users, who are getting what appears to be an information rich but easy to interpret interface that rivals the best apps (like the AMEX app) out there for consumer cards. It’s also got a solid set of security features that are missing only a couple of small improvements like per-merchant or per-transaction numbers that would make them the best offering in the industry.
The security and financial tracking the card will enable is attractive and the cash benefits are competitive, but there are limitations that may be an issue for some potential customers. For instance, the Apple Card is a single-user card, which means multiple family members cannot use the same account.
Panzarino’s piece clears up misinformation that has spread since the keynote and uncovers other tidbits that make it easier to compare the new card side-by-side with competing offerings. If what you’ve heard about the Apple Card interests you, Panzarino’s article is an excellent one-stop destination to learn more.
This morning at Apple’s special event in the Steve Jobs Theater at Apple Park, Vice President of Apple Pay Jennifer Bailey took the stage to announce Apple Card. These “Apple” name prefixes are growing tedious, but Apple Card is looking to reduce the tedium which permeates the credit card industry. Apple is championing its credit card as a new industry leader in a variety of areas, including privacy, security, transparency, lack of fees, and fair interest rates. Apple Card gives rewards in cash rather than points, and these “Daily Cash” rewards are distributed to your Apple Cash account every day. If Apple Card can deliver on its promises, it shows real potential to be a disruptor in the often exploitative credit card industry.