How The New Apple Card Underwhelmed Credit Card Experts
This is also a form of credit card and therefor it came with some prominent cash back perks that is comsisting of an apple specific twist. This was design with the main hope that the card will induce a number of high majority of US retailers and consumers to adopt apple ray. For most of the purchases you carry out, the card offers a 2 percent cash back and about 3 percent for apple products but you only get 1 percent cash back reward on using titanum card. This characteristics of daily cas back reward of the apple card makes it far different and unique as against the normal monthly cash reward.
A permanent card number is created and stored on your iPhone whenever you have accepted to make use of an Apple card. This number is like your secrete codes which will not allow an unauthorised person tamper with your apple card.
Some basic informations are not included on the physical card which will not allow it to have any meaningful purpose for whoever steals it. This kind of information which includes, expiration date of the card or any 3 code or signature which can be of use for any transactions or fraudulent activities are not included on the card and that because this companies likes privacy, infact they allow there users to make use of the card for purchases and lot of online transactions without necessarily revealing there secrete codes or numbers
This card also help in some kind of personal savings in a way that it tracks every kind of payments and transaction that have been made with the apple credit card just like other already existing personal financing apps like Acorns and Mints. And with this it makes it very easy for users to be able to know how they spend and regulate there soending also in which they cam be able to boast of a healthy financial life even though it is not very specific on whether payment of rmortgage or rent can be done using this card.
Different kinds of studies are still on going with regards to what will happen in cases of unpaid bills, very late payments or other credit issues even though it has been presumed that the credit score will be impacted through late payments.
The security and privacy of the card is also one of it very unique properties, it allows personal and comfortable use of your card alone without fears of theft because even if stolen, it won’t be of any use for who ever picked it up because of how very protected it is. Apple have also done a good job in trying to limit the access to information for its new app, there by alot of information’s about a merchant on there banking statements are withheld and only the names of there business and vague or unclear terms are made available.
Although this card is not believed to be better than the already existed credit cards because most of the future have been found in numerous money mobile apps around which are easily assessible and effective as well, so, most of the people and companies that will be using this will do that majorly because of there love for Apple as said by an analyst at CreditCards.com, then the reward of 2 percent on other products was indifferent from what most competitors offer even though the 3 percent on apple products is still good.
Originally Published By: huffpost.com
Image Credit: Money.Com
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