This credit card charges no late fees, gives at least 2 pc cash back on every purchase - Will the dream turn into reality?
How about a credit card that charges no late fees, gives at least two per cent cash back on every purchase?
How about a credit card that charges no late fees, gives at least two per cent cash back on every purchase? No such credit card is currently available in India. But if iPhone maker Apple has its way, you may get to lay hands on such a credit card in India also in the near future. It will be available in the US in the later part of the year. A few weeks back, Apple launched 'Apple Card', which has been described by Wired as "Gleaming Future of Money". Apple Card is basically a credit card with a difference. It lives in the Apple Wallet app. For payment purposes, subscribers get a unique number upon registration and it can be used internationally in any country where Apple Pay is accepted.
With the help of Apple Card, the iPhone maker is trying to simplify the credit card transaction process, eliminate late fees, encourage subscribers to pay less interest and make payments more frequently.
Apple Card is also trying to make make the purchase process interesting and attractive with 'Daily Cash', which is basically a rewards program offering 2 per cent daily cash backs on each purchase. Users get this 2 per cent cashback when payment is made with the iPhone. When payment is made with the physical Apple Card, which is built from titanium, the cashback is 1 per cent.
Three per cent daily cashback is offered on each purchase made on Apple App Store, iTunes and other services of the iPhone maker.
The physical Apple Card could be used at places where Apple Pay is not available. It is different from the regular credit cards you have seen so far. The Apple Card has no card number, no CVV code or expiry date! With the help of Apple Maps, your iPhone will be able to tell you where exactly you have spent with the card.
Users can see their daily cash backs the next day in 'Daily Cash' app.
Apple Card can be used only by iPhone users and it is currently not
The Apple Card was launched last month at a special event in Cupertino. The first-of-its-kind credit card has been introduced in association with Goldman Sachs and Mastercard.
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