The Apple Card is officially available starting today for a small number of users and will be available to all users in the United States by the end of the month.
The iPhone maker says it has randomly selected a small number of US users, to whom it has sent invitations today, not to mention how many users it is.
In order to enroll in the program, the user must fill in the personal identification data and have the latest version of iOS, 12.4 installed.
That information is sent to Goldman Sachs, Apple’s partner for this credit card. Goldman Sachs approves (or rejects) their requests in real-time.
After approval, the card appears in the Apple Wallet application and can be used for online or mobile payments through Apple Pay, but also in stores through the physical card.
The Apple Card has three numbers associated with it: a phone number, a physical card number and a virtual one that can be used for online shopping (similar to Revolut virtual cards).
The physical card has no number, PIN or expiration date on it. Instead, in case of theft or loss, it can be blocked from the Apple Wallet application.
The rewards program has three levels. The first level gives users 3% of any transaction made in the company’s stores. Any transaction made with Apple Pay brings users back 2%, while for transactions made with the physical card and virtual number it returns 1%.
Apple says its service is not meant to compete with premium cards but hopes to make it accessible to all iPhone users. The US company does not charge commissions and says it does not have access to transaction data, which goes to Goldman Sachs.