Last year Apple introduced the much-awaited Apple Card with unique features like daily cashback and exclusive cashbacks with Apple partners. Today Tim Cook announced Apple Card Family at Spring Loaded event.
Apple Card is currently available only in the United States. However, there have been rumors in the past suggesting that Apple Card may launch in other markets soon. Although, those reports seemed to be vague. A new report from MacRumors sheds more details on Apple Card’s expansion to regions outside the US.
Looking at the financial troubles that people are facing due to the COVID-19 pandemic, Apple and its financial partner for Apple Card, Goldman Sachs, had introduced the COVID-19 Customer Assistance Program in March. This program allowed users of Apple Card to skip their monthly payment for March, without incurring interest charges. People who wanted to enroll in this program had to opt for it manually.
Apple has been quietly improving the Apple Card experience for users by offering financing options for Apple products and discounts on buying services. The company even started offering a detailed transaction history and the ability to export data in OFX file formats. Now, the company has launched a dedicated web portal for the Apple Card.
Apple is offering new Apple Card users $50 if they sign up for any Apple subscription service like Apple Music, Apple News+, Apple TV+, or do any transaction in the App Store. The offer runs through the end of July and is only applicable for new Apple Card users who spend money on any of the subscription services or on the App Store for the first time.
As leaked last week, Apple has announced 0% financing option with Apple Card for the iPad, Mac, AirPods, and its other products. The company has been offering 0% financing on iPhones when purchased via Apple Card since December last year.
Apple is working on offering Apple Card customers the option to buy its products on interest-free financing over a period of six or 12 months. This will basically allow customers to buy an iPad, Mac, Pro Display XDR, or other Apple products and pay for it over a period of 12 months.
Apple had first allowed Apple Card users to defer their payments for March 2020 due to financial hardships people have been facing after the spread of the COVID-19 pandemic. However, the company had said during its earnings call that it doesn’t plan to announce any further deferments, only to change its stance today.
Apple tried to reinvent credit card with Apple Card. This also meant that Apple Card stuck to a minimalist design language and yet managed to look sleek. Unlike other credit cards, Apple Card doesn’t come with numbers. All it has is a user’s name engraved on the metal card. A concept artist has taken it to the next level and shows how cool Apple Card would look with AR.
U.S. Federal Reserve recently announced yet another emergency cut to the interest rate. Apple followed suit and reduced Apple Card’s base APR to 10.99 percent from the previous 12.49 percent.