Apple Card Launches in U.S. With 3% Cash Back on Apple, Uber Purchases

Todd Spangler

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Apple launched Apple Card, a new credit card tied to iPhones that it’s offering in partnership with Mastercard and Goldman Sachs, broadly in the U.S.

The card, available to all qualified users in the U.S. starting Tuesday, is designed to encourage people to make more purchases from Apple — including apps, games, media content and subscriptions to services like the upcoming Apple TV Plus — and keep them in the iPhone ecosystem: Customers get 3% back on all purchases made directly with Apple. The tech company also is extending the 3% cash-back feature to other merchants, starting with purchases made from Uber and Uber Eats.

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Apple Card customers who carry a balance on Apple Card accounts will be charged variable annual interest rates on the balances, ranging from 12.99%-23.99% “based on creditworthiness” (with rates as of Aug. 2). Otherwise, the card doesn’t carry any fees.

The titanium Apple Card — a physical card for shopping with Mastercard merchants where Apple Pay is not accepted yet — doesn’t have a card number, nor does it have a CVV security code, expiration date or signature. The tech company claims that makes it more secure than any other physical credit card. Apple said the security architecture of the card means the company can’t track where customers have shopped, what they bought or how much they paid.

“We designed Apple Card to put privacy and security first,” CEO Tim Cook tweeted Tuesday.

The wide U.S. launch follows the Apple Card’s preview period earlier this month, during which a limited number of customers were invited to apply early.

In addition to the 3% cash back on Apple and Uber purchases, customers will receive 2% Daily Cash every time they use Apple Card with Apple Pay. For purchases made with the titanium Apple Card, customers will get 1% percent Daily Cash. The Daily Cash is added to customers’ Apple Cash card each day and can be used right away for purchases using Apple Pay, to put toward their Apple Card balance or send to friends and family in iPhone texts.

Apple Card is currently available in the U.S. to owners of iPhone 6 smartphones and later. To apply, customers can update to iOS 12.4 on iPhone, open Wallet and tap the “+” icon. Customers who are approved can start using the credit card immediately with Apple Pay in stores, in apps and on websites.

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