The Apple Card is Apple’s first credit card, and the company has revealed it will arrive this August.
We’ve known since Apple first debuted the Apple Card earlier this year that it would arrive sometime this summer. And while there had been some speculation that it would arrive alongside the public launch of iOS 12.4, that didn’t turn out to be the case. Now we know when we can expect to see the credit card arrive.
That will be in August. Which day in August? Well, that remains to be seen as Apple didn’t exactly nail it down. But at least we have a month now.
The company’s CEO, Tim Cook, says that there are thousands of Apple employees currently testing the Apple Card, and that the final launch details will be ironed out here soon. He made the comments during the follow up earnings call following the third quarterly earnings report.
The Apple Card is a credit card that Apple bills as a consumer-focused card. It’s the result of a partnership with Goldman Sachs. It will be integrated with Apple Pay right out of the box, with access provided through the Wallet app. There is also a physical card to go along with the owner’s account.
Those who get the Apple Card will be able to earn rewards based on every purchase they make, both digitally and in physical stores with the card. Buying a product at an Apple Store will net the card owner three percent cash back, with 2 percent cash back coming from any and all purchases made with Apple Pay. Finally, one percent cash back on all other purchases.
That cash back is handed out on a daily basis through what Apple calls “Daily Cash”. The rewards earned will be added to the owner’s Apple Cash digital card, to which the funds can then be doled out as the owner sees fit, including towards paying off the card’s debt or transferred to a bank account.
Apple Card will be available in the United States to start. However, it will be launching in other international markets at a later date.