Apple carries a brand new Credit Card. Here’s What You Need To Know.

Apple announced Monday that will This specific will be rolling out a brand new product called Apple Card. This specific’s a fully functioning credit card that will will work worldwide along with also be built directly into the Apple Pay wallet app.

The Apple Card, which will be available This specific summer, has been rumored for some time. This specific is usually the first credit card offered by Goldman Sachs along with also will use MasterCard’s payment network.

Apple announced the credit card at an event Monday in which This specific also discussed improvements to Apple Pay — including transit payments being rolled out in major cities within the US, such as Portland, Chicago, along with also brand new York City — along with also its subscription news service (Apple News+) along with also slate of original programming (AppleTV+).

Apple Card will use machine learning along with also Apple Maps to describe where along with also when transactions happened. along with also This specific will also provide weekly along with also monthly spending summaries. Customer service for the card can be reached via iMessage.

Users will receive 2% cash back on general purchases or 3% on purchases through Apple. If they use the physical Apple Card credit card, they get 1% back. Users can accrue an unlimited amount of Daily Cash.

Apple Card’s payment system will be protected by one-time dynamic number codes along with also Face ID or Touch ID. The physical titanium card does not have any numbers on This specific at all.

Apple won’t be able to track any sort of spending data through Apple Card along with also won’t be storing any of the information on its servers. along with also This specific said Goldman Sachs “will never share or sell your data to third parties for marketing or advertising.”