Apple has unveiled the "Apple Card", a fully titanium credit card that is powered by the iPhone. The new release is an extension of Apple Pay, the company said, which allows people to pay with their device by adding their card into it. But they now be able to be issued their credit card by Apple, too. Though the card is largely virtual, people getting one will also be sent a physical card. It will be made of titanium and have the owner's name etched into it, Apple said. It does not have the usual card numbers and other information that is included on a credit card, though that can be found on the phone it is tied to. But it will also come with a detailed app that allows people to see statistics and feedback on their purchases. It appeared similar to the apps made by companies like Monzo, which track spending through an app. Apple has created features that rely on machine learning and data from Apple Maps to allow the company to streamline the history that normally comes from credit cards, showing where payments were made. Gadget and tech news: In pictures Show all 25 1 /25 Gadget and tech news: In pictures Gadget and tech news: In pictures Gun-toting humanoid robot sent into space Russia has launched a humanoid robot into space on a rocket bound for the International Space Station (ISS). The robot Fedor will spend 10 days aboard the ISS practising skills such as using tools to fix issues onboard. Russia's deputy prime minister Dmitry Rogozin has previously shared videos of Fedor handling and shooting guns at a firing range with deadly accuracy. Dmitry Rogozin/Twitter Gadget and tech news: In pictures Google turns 21 Google celebrates its 21st birthday on September 27. 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The US technology giant also said the Apple Card, built into its Apple Wallet app, will also providing "a new level of privacy and security". It claimed it would build on the success of its Apple Pay offering, allowing customers to manage the device on their iPhone. Apple launched the card - a partnership with Mastercard and Goldman Sachs - at an event showcasing a series of new services at a time when its wider business is under pressure amid slowing phone sales. The new card will be available from the summer in the US and will see Apple offer 2% cashback for all purchases using the Apple Card with Apple Pay, rising to 3% when purchases are for Apple products or services. Advertisement Apple also said there would be no fees associated with the card, though late or missed payments would result in additional interest being added towards customers' balances. Image: The card offers features to track spending The company added that customers could sign up for the new card in minutes to be used in stores, apps or online worldwide. The card will also work with Apple Wallet features to help consumers track their purchases. Apple added that purchases were secure because they would be authorised with Face ID or Touch ID and a unique security code. The company has also designed a physical card for shopping at locations where Apple Pay is not yet accepted, which it said would give 1% cashback and would be more secure than any other physical credit card. Jennifer Bailey, Apple's vice president of Apple Pay, said: "Apple Card builds on the tremendous success of Apple Pay and delivers new experiences only possible with the power of iPhone." It marks the tech giant's latest involvement in the credit card market. Apple currently has a tie-up with Barclays to issue a Barclaycard Visa with Apple rewards.<doc-sep>Should Anyone Get An Apple Credit Card? Today, Apple officially announced the launch of its own credit card range in partnership with Goldman Sachs. The card is set to be paired with new Apple Wallet features that will allow cardholders to “set spending goals, track their rewards and manage their balances.” But should anybody sign up? Note: Apple has not yet announced plans to release the Apple Card outside the US. If/when the card launches in Australia, its offerings are likely to be very similar. The Apple card, which uses Mastercard’s payment network, will offer two per cent back on “most” purchases, in line with rewards cards currently offered by other financial institutions, and bigger discounts on Apple products. Here are the main features of the Apple Card, first reported by the Wall Street Journal well before today’s announcement: Users who use Apple Card with Apple Pay will get two per cent back on all purchases, and three per cent back on all Apple purchases. If you use the physical card, you get one per cent back. That cash back is available as “Daily Cash,” a program that makes your cash back available on your Apple Cash card each day — quicker than your standard card, assuming you use Apple Pay. It is built into Apple Wallet, meaning you can manage your card on your iPhone, if you’re into that kind of thing. You can sign up for it via Apple Wallet. There are no fees: No annual fee, foreign transactions fees or late fees are charged, plus no penalty interest rate is applied. It “encourages” customers to pay less interest, which is Apple-speak for “the app shows you how much more money you will owe in interest if you don’t pay off your balance.” The physical card is titanium, and will not display a card number, CVV security code, expiration date or signature. The Apple card does differentiate itself in a few ways. Because it’s integrated into your Apple wallet/smart phone, it can give you a holistic look at your spending, almost like it has Mint or another budgeting app built in. “Apple Card uses machine learning and Apple Maps to clearly label transactions with merchant names and locations,” Apple notes. “Purchases are automatically totaled and organised by colour-coded categories such as Food and Drinks, Shopping and Entertainment.” It will also provide spending overviews. It also bills itself as “fee free.” Arielle O’Shea, personal finance expert at NerdWallet, says the partnership shows Goldman Sachs is trying to attract millennial clients to grow its consumer base. But that doesn’t mean that the card is necessarily the best pick for that generation. “Given that millennials tend to most value experiences and travel, they may continue to be attracted to travel rewards cards despite Apple’s powerful brand,” O’Shea writes in an email. “Even the biggest Apple fans shouldn’t blindly turn to this card: It’s important to compare annual fees and features when shopping for a new card, and make sure the card fits your spending habits.” So should you buy the Apple Card? Unless you’re fully mired in the Apple ecosystem, the rewards really aren’t that compelling. There are other rewards cards that currently offer two per cent back on most purchases, for instance. You can use a sites like Moneysmart to research the pros and cons of rewards cards. Just remember to read the fine print, check for any fees and make sure your credit score hasn’t taken a hit lately. Rewards cards tend to require higher scores for approval.<doc-sep>During a launch event that saw Apple unveil to the world a new news and magazine subscription service (Apple News Plus), a new offering of original content (Apple TV Plus) and a gaming subscription platform (Apple Arcade), a new, surprising announcement came: a credit card. The Apple Card release date has now been confirmed for August in the US – although we're still waiting on a firm date and there's no word on a global rollout just yet. Apple Card offers a new form of Mastercard credit card to users, and it's partnered with Goldman Sachs to bring out a new suite of functionality. It can do things other credit cards can't do. You can sign up on your iPhone, and within minutes start using it right away - anywhere worldwide. It'll be available across your devices, and will be found in your Wallet App, with clear spending tracking - with store names clearly listed - and details on when your next payment is due and how much you've spent this month. You can also message Apple to update your Apple Card details. There are no late, annual, international or over-balance fees and Apple says it's committed to giving you a low interest rate with Card. How much does it cost? Here's the thing: the Apple Card will come with no fees. No international fees, late fees or even a higher rate of interest if you miss a payment - you can choose to make payments more regularly, or to change your schedule if you so wish. However, there was no mention of a typical APR here, so while it's rather easy to sign up, we're not sure how competitive it'll be 'in the wild'. Apple is all about shaking up this market though, and offering a truly attractive card could be an instant revenue stream for the brand. Much like the many cashback credit cards out there, Apple is offering ultimate flexibility with your finances. Daily Cash Image Credit: Apple Apple Card also offers rewards, with Daily Cash giving you 2% cashback every time you spend, and it's paid every day. If you use your Apple Card to pay for a product direct from Apple, you'll get 3% cashback. Cash is added to your Apple Cash Card, which is also found in the Wallet app, and it can be used like any other cash. Every purchase is verified with either Touch or Face ID, and all details of the card are stored on a secure area of your iPhone. Apple also can't see what you've spent your money on, with all processing taking place on your device and not on Apple's servers. Apple also promises not to sell your information to third parties. An actual Apple Card Image Credit: Apple Apple Card is widely accepted around the world, but not everywhere accepts it, and for places which don't Apple will also offer you a physical card. It's made of titanium, and has Apple's logo and your name laser etched on it. There's no card number, CVV or signature on the card, which Apple says makes it more secure. If you need that information, you'll find it in the Wallet app. Apple Card will arrive in the Wallet app in the US in August, with no word on when the service may roll out to other countries. Apple Card launch: as it happened We spent hours typing away at everything that happened during the Apple event tonight - so here's the inside scoop on what happened when the Apple Card was unveiled on stage. All times in US Pacific (PDT): 10.36 - What about if you're somewhere that there isn't an Apple Pay vendor? Well, let's watch a video to find out. Apple has made an actual bank card, apparently. It's made of titanium and has your name laser etched onto it. With no card number, signature or anything on it - so how can it be used if you want to sign? You only get 1% Daily Cash with this card though. Apple Card will be coming to the Wallet app 'this summer' for the US. 10.34 - It'll be powered by Mastercard, so you'll be able to use it world over. Now we're talking about privacy - so each purchase is authenticated by Face ID or Touch ID, and every purchase needs a random ID so your credit card number can't be used without your say-so. Bailey is making a big deal about the data never being sold to third parties - that privacy message is strong here. 10.32 - You can make more frequent payments if you fancy it, to help people take better control of your money. Actually, this will help: no fees at all with this card. No late fees, international fees... any fees at all. The interest rate won't change even if you're late, so no penalty interest charges. Apple needed a bank to help with this: Goldman Sachs, as it's a new player in the consumer space. Isn't Apple Bank going to be a bit of a clash here? 10.30 - Apple's Daily Cash comes in every day - it just depends on which merchants are using it. Wait, it's 2% of Daily Cash on everything you spend. That's pretty good. If you're using Apple services, you get 3% cashback. Honestly thought it would be more... The amount of cash you receive every day is also unlimited. Apple is trying to say it's giving away free money here... 10.29 - Now we're talking about Apple Card rewards too - you get cashback every day with Apple Card - it's called Daily Cash. 10.28 - Apple is now saying that it's trying to make things better, to improve financial info. Using Apple maps, random retailers and addresses will be translated in the app. That's pretty helpful. Like so many online cards, you can collate your spending by category and show you how your spending is trending week by week, or month by month. 10.27 - You get the Card on your phone in minutes when you apply - is that definitely a good thing?<doc-sep>
APPLE has announced a credit card for your iPhone called Apple Card, which ties in with the existing Apple Pay service. The surprise reveal came during today's special press event in California. 3 Apple has launched its own credit card. Pictured is the card, which doesn't have any number on the front Credit: Apple “There are some things about the credit card experience that could be so much better,” said Tim Cook, before inviting his Apple Pay chief on stage. “We have completely rethought the credit card,” said Jennifer Bailey, VP of Apple Pay. You can sign up on your iPhone and start using it worldwide anywhere where Apple Pay is accepted – including online. It’ll be available across all of your devices, and lets you track your payments and credit amount. 3 The card has a swanky interface on your iPhone Credit: Apple You can even send iMessage texts to Apple for customer support. Apple Card will highlight how you’re spending money, splitting it into categories. This will reveal what you’re spending money on – like groceries or entertainment. The idea is that this will help you cut back on excess, spotting bad spending trends. Apple confirmed that you’d get cash-back whenever you spend through a feature called Daily Cash. So when you’re buying a coffee or shopping for groceries (or any other time you pay with Apple Card), you get Daily Cash. Every day you spend, cash is added to your Apple Cash card (inside the Wallet app). You can use it absolutely anywhere, and can even send the cash to friends using Messages. The Daily Cash amount is set at 2%, which upgrades to 3% if you’re spending on Apple goodies. 3 It'll be available in the United States this summer, with no word yet on a UK launch date Credit: The Sun The amount of Daily Cash you can receive is unlimited, to boot. Apple Card has no late fees, no annual fees, no international fees and no over-limit fees. The issuing bank backing Apple Card is Goldman Sachs, and Apple is also working with MasterCard on the project. There’s also a physical card available, built from titanium with no card number of CVV on the back. That’s so you can still access funds in places where Apple Pay isn’t accepted. However, you only get 1% Daily Cash if you make purchases with the physical card. It'll be available in the United States this summer, with no word yet on a UK launch date. TOP STORIES IN TECH BOUNCE BACK Dogecoin founder thanks Elon Musk for tweet as crypto market stages comeback Live Blog LOOK UP Lunar eclipse 2021 LIVE: Blood Moon and total eclipse happening NOW PHENOMENON Lunar eclipse 2021: Why the Super Blood Moon isn't visible in the UK LOST & FOUND New Google Maps feature means you'll NEVER get lost again OPEN WINDOW Microsoft boss reveals NEW 'next-gen' Windows coming six years after Windows 10 BLOOMING Super Flower Moon will fill skies tonight – how to see stunning lunar spectacle If you enjoyed this story, you might also like these: You can catch our live coverage of Apple's event by clicking here. The tech giant might be working on a brand new 2019 MacBook Pro with a 16-inch screen. The 2019 iPhone could come with a ‘super charger’ that will power your phone to 80% in an hour. What do you think of this? Let us know in the comments! We pay for your stories! Do you have a story for The Sun Online news team? Email us at tips@the-sun.co.uk or call 0207 782 4368 . We pay for videos too. Click here to upload yours.