Apple features a completely new Credit Card. Here’s What You Need To Know.

Apple announced Monday that will This kind of will be rolling out a completely new product called Apple Card. This kind of’s a fully functioning credit card that will will work worldwide as well as be built directly into the Apple Pay wallet app.

The Apple Card, which will be available This kind of summer, has been rumored for some time. This kind of will be the first credit card offered by Goldman Sachs as well as will use MasterCard’s payment network.

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

Apple Card will use machine learning as well as Apple Maps to describe where as well as when transactions happened. as well as This kind of will also provide weekly as well as 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 by 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 as well as Face ID or Touch ID. The physical titanium card does not have any numbers on This kind of at all.

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