Earlier this week, tech giant Apple AAPL, +1.08% announced that Americans could start applying to get their new Apple Card, a credit card venture between the creators of iPhone and Goldman Sachs GS, +0.35%, intended primarily for iPhone use.
Apple said that those who are eligible for the card can now apply using their iPhone 6 and above, and once approved, they could start using the credit card to make purchases in stores, sites, and online shops.
Apple Pay VP Jennifer Bailey said that Apple’s credit card was built on “simplicity, transparency, and privacy” and excitedly pronounced that the new credit card has no fees. She explained that unlike any other credit cards available in the market, Apple Card will not charge any annual fee and delayed payment fee. It also offers “very low-interest rate,” Bailey said.
“We’re thrilled with the overwhelming interest in Apple’s credit card and its positive reception,” she said. “Customers have told us they love Apple Card’s simplicity and how it gives them a better view of their spending.”
One of the most exciting features of Apple Card is its rewards program called Daily Cash. Customers will receive two percent (2%) Daily Cash every time they use Apple Card with Apple Pay, and three percent (3%) Daily Cash on all purchases made directly with Apple, including at Apple Stores, apple.com, the App Store, the iTunes Store and for Apple services.
As part of their efforts to expand their Daily Cash coverage, Apple is also in the talks with other partners to give Apple Card user an expanded 3% Daily Cash reward in their purchases through the credit card.
Apple has already inked a deal with Uber to give Apple Card users 3% Daily Cash rewards every time they book a ride with Uber or order delivery through UberEats using their Apple credit card.