Apple is known for its new inventions and innovation. All Apple products are one of a kind. To top all that, Apple launched a new payment gateway in 2019. It is an Apple card that functions exactly like a credit card with some additional benefits for IOS users. This card is linked with apple pay and built to use with an Apple wallet. Goldman Sachs is partnering with Apple which is optimized for apple pay. But it will work finely with all the transactions you want to carry out using this as a credit card.
There’s a lot of confusion regarding the process of getting an apple card. Below I have mentioned everything you will face while signing up for the card.
Process of getting an Apple card
Signing up for an apple card is as simple as signing up for any other application. Just tap on the apple card interface on the apple website and proceed through the activation process. Once you sign in, much of the information is already retrieved from your Apple ID. setting up an Apple Card will take a couple of minutes. You have to fill in the basic details as you would do for any other credit card.
- First name
- Last name
- Date of birth
- Phone number
- Home address
- Country of citizenship
- Last four digit of your social security number
- Annual income
Some users also required to submit a copy of their driving license or state ID. Once you get done with all the formalities and signed up successfully, you can use it immediately for digital purchases. Availability is subject to credit approval, so you need to qualify for the Card just like you do with any other kind of credit card. While digital payments are available immediately, Apple will also ship out a physical Card that can be used as a traditional credit card.
Eligibility for the Apple Card
This card is only accessible to people in the USA. To apply for a card you have to be 18 years or above, a citizen of the United States, or a permanent resident of the US. iPhone with iOS 12.4 or later is required to the Card and not available if you don’t own an iPhone.
How to use an Apple card
If you’ve applied for a titanium card, you don’t have to wait for the card to use physically to make any purchase. You can buy with the help of Apple pay on your iPhone, iPad, Apple watch, mac.
- Click on the Apple pay symbol to make a payment wherever you see the symbol. When you click on the Apple pay gateway, the transaction slides up the screen, and further website proceeds.
- Tap the blue chevrons on the right to change any details related to the transaction, including which card to use, your shipping address, the shipping method, and your contact details.
- Select the option of Apple Card if it is not selected automatically, but if you make Apple Card the default card to use Apple Pay, it is automatically selected when you chose to pay from Apple Pay.
- Check if all the details filled in are correct and then move ahead. Double click on the side button of your iPhone, and look at the screen of the phone to unlock with Face ID to make the transaction.
Can you use the card to make non-Apple purchases?
Yes, you can. If you need to pay for purchases that can’t be made with Apple Pay, you can use the physical version of the Apple Card that Apple sends once you sign up. In addition to Goldman Sachs, Apple is partnering with Mastercard, so the physical Card can be used wherever Mastercard is accepted.
After receiving the card physically, you have to set it up which is quite easy. All you have to do is to keep your iPhone near the envelope you’ve received for the NFC scan and then tap on the ‘Activate’ button popping on your screen.
On iPhone X or earlier, you’ve to open the card for Apple, open the wallet app, tap the “Activate” button in the wallet app and then hold the phone near the envelope you received. There is no need to make any call for the activation process.
As with any other credit card, there is a credit limit for this Card that will vary from person to person. A better credit score means a higher credit limit, and credit limit also increases over time. Monthly Apple Card Statements are provided in the wallet app. You can save a PDF of the statement from the Wallet app so that you can access it on other devices.
Fees for the transactions
Apple says there are no annual fees, international fees, fees for making a late payment, or fees for exceeding your credit limit.
There may be no late fees, but if you make a late or miss one payment, Apple says this will result in “additional accumulating toward your balance.” That means making a late payment will not result in penalty rates, aka increased interest rates. You’re still going to have to pay interest on the outstanding balance, and a late payment will impact a credit score, but interest rates won’t increase.
There are no foreign transaction fees, but the exchange rate for foreign transactions is determined by Mastercard.