Waiters and waitresses may soon be asking us, “And which credit card will you be using today? Visa, American Express… Apple?” Recently, Apple announced it will be releasing a credit card. The card, backed by Goldman Sachs and Mastercard, will work in contingency with Apple Pay and give its users a variety of perks.
Here are two functions that we believe will differentiate Apple’s (Icard??) credit card from other competitors.
Apple Pay-Daily Cash
This feature will be available to all Apple Pay and Apple Card users and will allow spenders to receive a significant amount of “cash back” money. Cardholders receive 2% of their purchases back as Daily Cash; more so, if a purchase is made on any Apple platform (iTunes, App Store) then the user will receive 4% of their cash back.
Revolutionary Credit Function
At Vola, we are very aware of the burden that comes with paying back credit card bills. Apple seems to be catching on to this too! Apple Card will allow users to enter the amount of money they want to pay each month, and will then give a precise estimate as to how much the sum will accrue in interest over time. This will allow you to correctly plan your credit expenses.
Stay tuned for an update as we get more information on Apple Card!