Apple Launches, Next Generation Credit Card, Name: "Apple Card"

A still from the Hot Lava game on Apple Arcade

"We are working with some of the most innovative game developers in the world to create over 100 new and exclusive games to play across iPhone, iPad, Mac and Apple TV". But if you use the physical version of the card, which is an option at retailers that don't accept Apple Pay, you'll earn only 1% cash back. The company has partnered with Goldman Sachs to make its first credit card a success.

In practice, Apple Card will help consumers keep the actual rates they pay even lower, advising them how much to repay and when, in order to minimize cost.

Apple says it won't get information on what you buy with the card or where or for how much. The neat thing about them is that they will be completely ad-free and will not require gamers to make any in-app purchases. And it really is cash.

To use the card, which rolls out this summer, consumers can tap into their iPhone's Apple Wallet app.

Apple Card will get cashback through talking about its credit card, and Apple has said that the built-in Apple Wallet has been introduced in the card.

Activating or pairing the Apple Card is very similar like pairing your AirPods with iPhone ie; just bring your card closer to an unlocked iPhone and the card pops up and will activate same as like AirPods.

Apple Card looks like the most attractive credit card on the market at the moment, but it won't always be that way, predicted Rob Enderle, principal analyst at the Enderle Group, an advisory services firm in Bend, Oregon. Considering how long Apple has been floundering behind the scenes with its streaming efforts, I didn't have high hopes at all.

"iOS 12.2 provides support for Apple News+, adds the ability for Siri to play videos from your iOS device to Apple TV, and includes four new Animoji", the company said in the release note.

But Apple said it wants its card users to settle their balance flexibly.

The Journal, famous for its business and industry coverage and commanding almost $40 a month, will make "specially curated" general-interest news available for Apple customers, for example. This card will run in places where Apple Pay will not support.

We only have a few titles confirmed for Apple Arcade so far - Sonic Racing and Sayonara Wild Hearts among them - with no details on pricing. Why, then, would Apple want to give you an easy way of not doing so?

At the company's keynote address today Apple lifted the lid on Apple Arcade, a game subscription service across all of Apple's platforms. Apple Card also has the unique objective of helping its users understand their spending habits, and start making smarter choices in spending.

Apple (AAPL) stock fell ~1.0% yesterday while broader markets rose after investors were underwhelmed by the iPhone maker's keynote presentation on Monday. With how seamless Apple made its credit card, coupled with the status surrounding its use, the "chip" card would not make a lot of people "better". The unusual thing is that in order to muscle in on a competitive industry, issuer Goldman Sachs has tossed aside numerous features that make the card business lucrative for banks in the first place.

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