Apple Card: the credit card with no annual fee and cashback

A Apple finally launched its card and it really arrived… in the USA: the Apple Card is being distributed to randomly selected customers through the Wallet app; more people will have access to the product at the end of the month. The card has no annual fee or charges, but requires an iPhone or iPad to be used.

Registration is done through the Wallet app, after entering all the required data, Goldman Sachs reviews the application and responds in less than a minute, either approving or denying the request.

The Wallet shows the categories of your expenses in a graph and in a “heat map” on the card image. The Apple Card starts off white, but if you use it in restaurants, it will gain an orange tint. When spending on entertainment items, the color will acquire shades of pink, and so on.

The cashback program of the Apple Card is called Daily Cash: customers receive 3% back on all purchases from the App Store (including in-app), the Apple Store (physical or virtual), and Apple subscriptions. If payments are made through Apple Pay, it’s 2%. On all other purchases, the cashback is 1%.

The Apple Card also keeps all the location information of purchases, so you have better control over where you are spending and can have a greater organization of your financial life.