“Later this year, Apple is going to launch a new credit card that’s linked to Apple Pay and built right into the Wallet app, which iPhone users can sign up for,” Juli Clover reports for MacRumors. “Apple is partnering with Goldman Sachs for the card, which is going to be optimized for Apple Pay but will still work like a traditional credit card for all of your transactions.”
“There’s a lot of fine print associated with the new Apple Card,” Clover reports, “so we’ve created this guide to provide details on what you can expect when it launches in the fall.”
“As with any other credit card, there is a credit limit for Apple Card that will vary from person to person. A better credit score means a higher credit limit, and credit limit also increases over time,” Clover reports. “Apple says Apple Card will offer an APR between 13.24 percent and 24.24 percent based on your credit score.”
“A wide APR range like this means Apple will be making this card available to most people, even those with less than stellar credit scores,” Clover reports. “There are tools built into the Wallet app to encourage you to pay off your balance quicker to avoid interest fees.”
Here’s the full guide. Just click here.
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