The New Goldman Sachs Issued Apple Credit Card that Earns 2% Cash Back

Apple has long been a leader in the computer and mobile devices industries. They have posted consistent gains in both areas, and regularly unveil new models of their products to appeal to a global fan base. On the heels of their largely successful introduction of Apple Pay, they have also opted to now get into the financial services business. They are doing this by offering a credit card that offers a variety of perks. Among these will be the potential to earn 2 percent cash back on purchases. Continue reading to learn more of the details of this soon to be released Apple Credit Card.

The Main Details

This is going to be a card backed by Goldman Sachs. That is a pretty big name to put its weight behind such a new entry into the financial services industry. To be honest, the details of the card are slow in coming as it appears that the two sides are still ironing out the fine details. That being said, there are a few things that we do know already. If you get this new Apple credit card, you will be able to earn roughly two percent of your purchases back via a cash rebate. The rumor is that this rate will be even higher when you use the credit card to make purchases on any Apple branded gadget or service. This is a pretty good rate and is line with many of the top rate credit cards being offered on the market today.

What It Won’t Have

Credit cards can’t come with everything under the sun, and this one appears to be no exception. The Apple credit card does not appear to offer any rewards related to travel. With reports indicating that this is the number one feature that consumers look for in credit cards today, that could be a drawback. If you examine them dollar for dollar, travel rewards cards do tend to offer some better returns. However, individuals looking for cash back and who spend heavily on Apple products will find this new card appealing on many levels.

There is no indication yet as to whether or not this card will have an annual fee. Apple does currently have a credit card co-branded and backed by Barclays Bank. That one does not come with an annual fee, so the hope is that this one will not as well. The current card gives consumers the opportunity to earn three points for every dollar spent on Apple branded products and services. Purchases made at a restaurant will earn two points for every dollar spent, while all other purchases will net one point for every dollar. Those points end up being valued at one cent for each one. Consumers with the card have been able to use those points to buy gift cards from either the Apple Store, iTunes, or the App Store. Those who have a Barclays card, however, will find that the new credit card will replace it. So, it will be no more at some point in the near future.

Apple’s Intention

It is difficult to know just what Apple intends to accomplish with this new credit card, but it appears to be an effort to further integrate its other devices that support financial related services. Many longtime Apple users have grown to like the way the iPhone and the Apple Wallet app are integrated to make it easy to execute purchases in quite a few places. This new credit card will make it possible to get more detailed information about purchases in real time. Consumers will be able to better track their spending. The credit card will also make it possible to send instant notifications to any cardholder who appears to have made a purchase that shifts from their normal purchasing patterns. This will help eliminate fraud and make the card safer for all involved. It appears that many of the features included will be along a similar vein as that of Mint and other money management apps that have become popular in recent years.

In conclusion, this card is not going to compete with the other types of premium rewards programs that have long been marketed by industry giants such as American Express and Chase. This card, for its part, is going to appeal largely to Apple users. It will be yet another way to integrate everyday life into the mix with Apple products.


Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

WeFox Group
20 Things You Didn’t Know About Wefox
Eric Breon
10 Things You Didn’t Know About Vacasa CEO Eric Breon
Iterable
20 Things You Didn’t Know About Iterable
Marcus Persson
How Notch Achieved a Net Worth of $1.6 Billion
Stock Market
10 Stocks to Consider if You Like AMD
Stocks
The 20 Most Undervalued Stocks of 2020
AT&T
10 Stocks to Consider If You like AT&T
The 10 Safest Blue-Chip Stocks to Own in 2020
Portugal
The 20 Best Places In the World for Expats to Live
The 20 Best Places to Live in London
The 20 Best Places to Live in Sacramento
Fairway
The 20 Best Places to Live in Kansas
Delray Beach
The 10 Best Seafood Restaurants in Delray Beach
Gulf Shores
The 20 Best Hotels in Gulf Shores
Disneyland
The 20 Best Things to Do in Orange County for First Timers
Albuquerque
The 20 Best Hotels in Albuquerque
Awesome Used Cars
20 Awesome Used Cars for Under $10,000
2020 Tesla Model S
The 20 Most Long Range Electric Cars for 2020
lambo
20 Reasons to Consider Getting a Certified Pre-Owned Car
Best 8-Passenger Cars
The 10 Best 8-Passenger Cars for 2020
Rado Watches
The 20 Best Rado Watches of All-Time
Flieger Cockpit one 1 Aviatis watch day date Automatic 704.21.18 L.01
The 10 Best Fortis Watches of All-Time
Mahogany
The 20 Best Original Grain Watches of All-Time
The 20 Best Running Watches Money Can Buy