» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 43 | NO. 31 | Friday, August 2, 2019

The Apple credit card is here

Print | Front Page | Email this story

NEW YORK (AP) — The Apple credit card designed primarily for mobile use is here.

Some iPhone users who requested a notification about Apple Card will get invites Tuesday to apply through Apple's Wallet app. The company plans to expand sign-ups more broadly in the coming weeks. The card, announced in March in partnership with Goldman Sachs, is available only in the U.S.

Apple promises quick sign-ups and the elimination of most fees. Customers typically get 2% cash back when using Apple's app to pay. Industry experts say financial benefits of card mirror many of those already out there for consumers.

What sets Apple Card apart from other cards is its reliance on the iPhone. Though customers can request a physical card for free, an iPhone is required to apply, check statements and pay balances.

The app will offer tools to manage spending and suggest payment amounts based on past payments and spending. And cash back rewards return to customers through an Apple Cash account, which can be used for other purchases, credit card payments and transfers to traditional bank accounts.

Goldman will be in charge of approving applications and monitoring transactions for fraud. Apple says it isn't getting transaction data and has agreements that bar Goldman from using data for other purposes, such as advertising and marketing Goldman's other services.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0