Apple Card

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Apple Card
Apple Card.svg
Apple Card within the Wallet app in iOS 12 on an iPhone XS
Apple Card within the Wallet app in iOS 12 on an iPhone XS
LocationUnited States
LaunchedAugust 20, 2019

Apple Card is a credit card developed by Apple Inc., designed primarily to be used with Apple Pay on Apple devices such as an iPhone, iPad, Apple Watch, or Mac.[1][2] On August 6, 2019, invitations to an early preview started being sent to randomly selected users who had previously signed up for email notifications ahead of Apple Card's official launch,[3] it was released in the United States on August 20, 2019.[4] (Additional cardholders and joint accounts are not supported.)[5]

Apple Card was announced at an Apple Special Event on March 25, 2019. Unlike previous special events which have historically served as platforms to announce upcoming hardware, this event focused on new internet software and services. Other services announced at the event include Apple TV+, Apple News+, and Apple Arcade.[6][7]


No fees[edit]

Apple Card does not include late, cash advance, international, overdraft, or annual credit card fees, except for applicable interest charges when carrying a balance, and any interchange fees, which are charged to the vendor.[8]

Instant Issuance[edit]

Users apply for Apple Card directly from within the Wallet app. If the user's application is approved, their digital Apple Card is made available for use across all of their devices instantly. Users also have the option to order a physical card for use at locations that don't accept contactless payments.

As well as the digital card used to make contactless payments, users receive a 16-digit virtual card number which can be used on websites and in apps that don't accept Apple Pay. For convenience, the details of this virtual card are made available in the user's iCloud Keychain so they can be auto-filled into online forms, rather than having to be typed in by hand. Notably, Apple Card's CVV is auto-filled by Safari, unlike other credit cards stored in iCloud Keychain which require manual input of their CVV number.

In the event that a user suspects their virtual card number has been used on a website that has been compromised, they can generate a new virtual card number from the Wallet app, invalidating the old one.[9]

Daily Cash[edit]

The card features a cash-back reward program known as Daily Cash – the key differentiator being that cash-back is available daily, rather than at the end of each statement period.

Daily Cash uses a 3–2–1 model for rewards:[10]

  • 3% for purchases from Apple (whether physical goods from Apple Retail Stores, the Apple Online Store, or the Apple Store App, or digital purchases from Apple's media stores, and subscriptions to Apple's various internet services). Starting August 20, 2019, the 3% cash-back rate was extended to include Uber and Uber Eats purchases made using Apple Pay.[4]
  • 2% for purchases made using Apple Pay at any other merchant, including apps and websites.
  • 1% for purchases made using the physical card.

Daily Cash is deposited into a user's Apple Cash card inside Apple Wallet, which can then be used to send money via iMessage, pay part or all of the card's balance, spend at retailers/in apps that accept Apple Pay, or be transferred to a bank account via wire transfer.[11] If the customer does not have an Apple Cash account, then Daily Cash continues to accumulate, but can only be applied as a credit toward his or her statement balance.[12]

Financial Wellbeing[edit]

One of the core tenets of Apple Card is to provide users with easy-to-understand information on their spending,[10] with transactions being collated and color-coded according to category (for example food and drinks, entertainment, travel, etc.). The face of the digital card in the Wallet app changes color according to the amount spent at various categories of merchant, with the colors corresponding to each merchant's category in Apple Maps.[13]

Apple Maps is also used to provide more detailed transaction information than can be shown on a traditional credit card statement – when viewing individual transactions, users are presented with a precise map location for the merchant, along with additional information such as their logo, website and contact details (where available).[13]

Users can view their historical spend with weekly and monthly activity summaries, and receive intelligent recommendations on how best to pay off their balance over time in the form of payment plans, in order to avoid paying unnecessary interest.[13]

Privacy and Security[edit]

A unique card number is created for each device and is stored in the device's secure element, a tamper-resistant security chip used by Apple Pay to handle transactions and on-device cryptographic functions; each transaction uses its own one-time "dynamic security code", and is authorized with Face ID, Touch ID,[14] or passcode.[15]

As with Apple Cash, transaction history for Apple Card is stored on—and synced across—devices using CloudKit, and encrypted such that only the authorized account holder can view it;[16] as an additional security and privacy measure, two-factor authentication must be enabled on the user's iCloud account in order to apply for Apple Card.[5][17]

Titanium Card[edit]

Apple has designed a titanium Apple Card for shopping at locations where Apple Pay contactless payment is not accepted;[10] the card has no card number, CVV security code, expiration date, or signature printed on the card.[10] The logos on the card are engraved, and the cardholder's name is printed.[citation needed]

On delivery, users with the iPhone XS, XS Max, and XR can activate the physical card by moving their phone near a NFC tag concealed within the card's packaging.[18] Users with an iPhone X or earlier need to open the Wallet app before tapping the phone against the card.[19]

The card may be permanently discolored by contact with leather or denim.[20][21]

One card per household

Each individual in a household wanting to use the Apple Card must apply and each person with a card will receive a separate statement. Goldman Sachs will not issue more than one card per account.


For Apple Card's initial U.S. launch, Goldman Sachs takes the role of the issuing bank,[22][2][17][23][21] with Mastercard serving as the payment network.[24]


  1. ^ "Apple Pay is compatible with these devices". Apple. August 12, 2019. Retrieved August 22, 2019.
  2. ^ a b "How to use Apple Card". Apple. August 20, 2019. Retrieved August 22, 2019.
  3. ^ Patel, Nilay (August 6, 2019). "The Apple Card starts rolling out today". The Verge. Retrieved August 20, 2019.
  4. ^ a b "Apple Card launches today for all US customers" (Press release). Apple. Retrieved August 20, 2019.
  5. ^ a b Panzarino, Matthew (March 28, 2019). "How Apple Card works". TechCrunch. Retrieved April 8, 2019.
  6. ^ Arkin, Daniel (March 25, 2019). "Apple event: TV, news and video game services signal new direction for iPhone maker". NBC News. Retrieved March 26, 2019.
  7. ^ Kleinman, Zoe (March 25, 2019). "Apple debuts own credit card and TV shows". BBC News Online. Retrieved March 25, 2019.
  8. ^ Son, Hugh (March 25, 2019). "Apple unveils new credit-card: the Apple Card". CNBC. Retrieved March 25, 2019.
  9. ^ "Apple Card". Apple. Retrieved July 18, 2019.
  10. ^ a b c d "Introducing Apple Card, a new kind of credit card created by Apple" (Press release). Apple. March 25, 2019. Retrieved March 26, 2019.
  11. ^ McCann, John (March 25, 2019). "Apple Card launches as a new type of credit card on your iPhone". TechRadar. Retrieved March 25, 2019.
  12. ^ "Apple Card". Apple. Retrieved August 20, 2019.
  13. ^ a b c "Apple Card - How It Works". Apple. Retrieved July 18, 2019.
  14. ^ Matsakis, Louise (March 25, 2019). "Apple Enters the Credit Card Market With—Yep—Apple Card". Wired. Retrieved March 26, 2019.
  15. ^ "Apple Pay security and privacy overview". Apple. July 12, 2019. Retrieved August 21, 2019.
  16. ^ Detrixhe, John (March 25, 2019). "The most original thing about Apple's credit card isn't its app, fees, or laser-etched titanium". Quartz. Retrieved March 26, 2019.
  17. ^ a b "How your Apple Card application is evaluated". Apple. August 20, 2019. Retrieved August 22, 2019.
  18. ^ Rambo, Guilherme (March 27, 2019). "Here's how the physical Apple Card will be activated on iOS [U]". 9to5Mac. Retrieved July 18, 2019.
  19. ^ "Request and use your titanium Apple Card". Apple. Retrieved August 20, 2019.
  20. ^ "How to clean your Apple Card". Apple. August 20, 2019. Retrieved August 22, 2019.
  21. ^ a b Statt, Nick (August 21, 2019). "Apple warns you may permanently discolor your Apple Card if it's stored in leather". The Verge. Retrieved August 22, 2019.
  22. ^ "Report: Goldman Sachs spending $350 to acquire each new Apple Card user, could see losses in a recession". 9to5Mac. August 14, 2019. Retrieved August 22, 2019.
  23. ^ "Apple and Goldman Sachs launch their credit card". The Economist. Retrieved August 22, 2019.
  24. ^ Griffin, Andrew (March 25, 2019). "Apple just released a stunning new credit card". The Independent. Retrieved March 25, 2019.

External Links[edit]