Unveiled in March, the credit card made in Apple is now available in the United States for all iPhone owners. The opportunity to take a closer look at how the Apple Card works.
It is quite surprising that a technology company is entering the credit card industry. However, Apple already had its own method of payment with Apple Pay. Offering a credit card is only a new step for the Cupertino company and above all, the opportunity for it to diversify its products even more.
How to get your Apple Card?
For now, it is only available in the United States, but the service may arrive one day in Europe. According to Tim Cook, anyone can sign up for an Apple credit card. All you need is an Apple account and an iPhone with iOS 12.4 minimum.
Then head to the Wallet application to register. By pressing the little "+" at the top left, a new window opens where you have to select the Apple Card payment method. Then, you will need to verify that your information is correct, including the last name, first name, phone number, etc. The app will also ask you for information about your bank income, as well as - in the case of the United States, the last 4 digits of the social security card.
This information is above all the means for Goldman Sachs, banking organization and partner of Apple, to be able to validate the request for credit card. After studying the request - which takes less than a minute - the Apple Card is ready.
Get the physical Apple Card
If most of the concept of Apple's credit card is based on the fact that it is entirely digital, the Californian firm still offers its users a physical card. It is rather an accessory rather than an essential, but since it is a completely free apple product, why deprive yourself?
Indeed, the physical card is free and all users can order it from the Apple Wallet application. Entirely made of titanium with a very refined design, the physical Apple Card unfortunately does not support contactless payments. You will have to go through your smartphone in this case.
Once the physical card has been received, it must be activated. For this, Apple has done in simplicity and efficiency since it suffices to place the card under the iPhone - in the case of iPhone XR, XR Max and Xs - for it to activate.
Note that with the physical card, this will make you three card numbers associated with the Apple Car; one for the card from your iPhone, one for the physical card and another virtual for sites that do not support the Apple Card. In this way, you will be able to control with which payment method a purchase was made.
Make a payment with the Apple Card
As for purchases, the Apple credit card is actually based on the Apple Pay payment method. Purchases will therefore be made in the same way, by indicating the credit card numbers - found in the Wallet application> three small dots> card information> card number, with the security code -, as well as contactless payment.
An arrival in Europe?
The Apple Card brand has been registered in Europe, which suggests that the Apple could indeed deploy its credit card here, but several points could complicate its arrival. Indeed, the card was created thanks to an Apple partnership with Goldman Sachs, an American bank that does not operate in Europe. If Apple wants to export its credit card concept, it would need new partners. Not sure if Goldman Sachs is very excited.
In addition, the little extra of the credit card is that it allows its users to receive cashback. With each purchase from an Apple platform - App Store, iTunes, Apple Store -, customers receive between 1% and 3% of the amount paid in return. An interesting concept which is unfortunately not very widespread here.
If the Apple Card does indeed land one day in Europe, this aspect could be removed which would make the credit card financially less attractive. However, Apple could certainly count on a very solid fan base despite the absence of cashback and therefore many customers.
The fact that the Californian firm does not apply any user fees or penalties in the event of late payment is an excellent argument. Thus, more modest users could benefit from a credit card more easily than with a traditional bank.
