Published: Wed, August 07, 2019
Tech | By Anita Cain

Everything You Need to Know About the Apple Card

Everything You Need to Know About the Apple Card

If you are considering applying for a Apple credit card when they launch later this year possibly some time later this month, you may be interested to know that Goldman Sachs has published the Apple Card Customer Agreement for your viewing pleasure on its website. The signup process, which requires iOS 12.4, involves entering your address, birthday, income level and last four digits of your Social Security number. Apple has partnered with Goldman Sachs and Mastercard for its global payment network. The card starts off as white in the Wallet app, but over time changes to an array of colors depending on your spending categories-people who have a lot of orange might need to cut back on eating out, and people who see a lot of green may have reason to curb their shopping habits. You're required to have an Apple ID and iCloud account "in good standing" and have two-factor authentication enabled (which is always a good idea).

The card also comes with a few rules specific to Apple's ecosystem.

In other words, don't expect to use the Apple Card for gambling - not for purchasing casino chips, betting on horse races, topping off an online gaming account or anything remotely tied to gambling. The physical card will arrive in the mail shortly after. The color of the card will shift and blend according to the kinds of things you buy. Pink is for entertainment, yellow for shopping and orange for food, it is an interesting way to display purchasing patterns. In a sense, users will be using their credit cards but working Apple Card's system. The card carries no annual fee-or ones for late payments or cash advances-and offers cash back on every purchase. Apple's heavy reliance on iPhone smartphones has caused the company to take a step back and reevaluate its preferences moving forward. If you did that, then keep an eye on your email, because there's a chance you're among this group of preview users.

No matter how easy it is, Apple Card is still a credit card and should be treated like one.

Another killer feature is the way Apple Card calculates interest on different payment amounts-showing you the benefit of using the card wisely and letting you maintain more control over your finances.

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