‘How does the Apple Card work?’: A guide to using Apple’s new credit card and its features

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Apple CardHollis Johnson/Business Insider

  • The Apple Card is Apple’s new credit card from Goldman Sachs that works with Apple Pay and your iPhone’s Wallet app.
  • The Apple Card offers higher-than-average cash back when used with Apple Pay, and has no fees or penalties (aside from ordinary interest charges).
  • If you can’t use Apple Pay, you can still swipe the titanium credit card, or generate a highly secure virtual credit card number which can be changed at any time. 
  • Visit Business Insider’s homepage for more stories.

The Apple Card is the first credit card offered by Apple, and issued by Goldman Sachs. It’s designed to work with the iPhone’s Wallet app and Apple Pay. 

For those times when you can’t pay digitally, you also get a physical card — with your name laser-etched into its titanium surface — that you can carry as well. 

Unlike most credit cards, there’s no card number or CCV code on the Apple Card. If you need that information, it’s stored in your Wallet app. In other words, using this card without an iPhone to go with it is difficult.

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The Apple Card’s unique features

In many ways, the Apple Card is a straightforward credit card, but it has some unique features that bear mentioning. 

The card is primarily designed to be used with your iPhone’s Wallet app, and you can pay for products with it using Apple Pay through your iPhone or Apple Watch. 

apple watch iphoneGetty Images

You’ll receive the best rewards if you use the Apple Card with Apple Pay, which include the following:

  • As much as 3% back when making purchases with participating merchants.
  • 3% back on all purchases made directly with Apple (such as at Apple stores or using the App Store).
  • 2% back on all other Apple Pay purchases.

If you use the physical titanium card rather than Apple Pay, you get 1% back. 

Rather than waiting 30 days for your rewards to be applied to your account, all rewards are applied daily to your Wallet’s Apple Cash account. You can use Apple Cash to make purchases, or to pay your Apple Card balance. 

Apple’s fee structure is also appealing: There are none. 

There is no annual fee for Apple Card, nor is there a late fee. On the Apple Card website, Apple says the card has "no fees. Not even hidden ones," and that includes all the usual fees traditional credit cards tend to charge, like cash advance fees and international purchase fees. 

Because the Apple Card is so deeply integrated with the Wallet and Apple Pay, you get a lot of information about each purchase — you can even tap on a purchase in your transaction history to see where the purchase was made on a map. 

And when it comes time to pay the bill, a clever interface lets you "dial in" how much of the balance you want to pay, letting you see exactly how much interest and principal you’re paying as you select the amount. 

How to get Apple Card

There is no online application for Apple Card. To apply, open the Wallet app on your iPhone and then tap the "+" button in the upper right corner. Choose "Apple Card" and complete the form. 

apple card walletApple

The qualification process only takes a few moments, and you can start using the card with your approved credit limit immediately. 

How to pay with your Apple Card 

There are three ways you can use your Apple Card: Using the Wallet app and Apple Pay, by swiping the physical card when Apple Pay is not an option, and by giving the merchant your credit card number. 

Once you complete the application process, your Apple Card is automatically added to your Wallet app, and you can make purchases with Apple Pay as you would with any other credit card that you’ve added to your iPhone. 

Once your physical card arrives, you can also swipe the card at a point of sale terminal. The card doesn’t work with contactless terminals, though — if contactless purchases are an option, you should use Apple Pay with your iPhone or Apple Watch instead. 

Apple CardApple

Finally, if you need your card number and CCV code to make a purchase, like if you’re buying something by phone, your Apple Card can generate a secure, virtual credit card number for non-Apple Pay purchases. 

Here’s how to find that number and CCV code:

1. Open the Wallet app.

2. Tap the Apple Card.

3. In the upper right corner, tap the three dots. 

4. Tap "Card Information."

5. You should see the card number, expiration date, and CCV code. 

6. You can tap "Request New Card Number" at any time if you suspect the current one has been compromised — you’ll instantly get a new virtual number without needing to request a new physical card from Apple. 

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Source: Business Insider – feedback@businessinsider.com (Dave Johnson)

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