Apple Card launches for all US customers

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The launch follows a “preview” earlier this month that allowed only limited customers to apply.

The company also announced it was extending the card’s 3% “Daily Cash” policy to more merchants
and apps, including Uber and Uber Eats.

IPhone users can now apply for the card through the Wallet app “in minutes” and “start using
it right away with Apple Pay in stores, in apps and on websites” if they are approved,
according to the blog post.

The Apple Card is now available to all U.S. customers, the company said Tuesday.

Apple announced the full launch of its new iPhone-integrated credit card, a joint venture with Goldman Sachs, on its website Tuesday. Previously, a limited number of customers were invited to apply for the card early in a “preview.”

IPhone users can now apply for the card through the Wallet app “in minutes” and “start using it right away with Apple Pay in stores, in apps and on websites” if they are approved, according to the blog post. The card carries no fees, but customers who don’t pay their balance in full are subject to a 12.99% to 23.99% variable APR based on creditworthiness.

The company also announced it was extending the card’s 3% “Daily Cash” policy to more merchants and apps, including Uber and Uber Eats. The rewards program gives back a percentage of every purchase as cash on customers’ Apple Card “each day.”

In early August, Apple invited its first customers to apply for the Apple Card.

CNBC previously reported Apple wanted Goldman Sachs to approve as many of its 100 million-plus U.S. iPhone users as possible for the card, within the bounds of regulation and responsible lending. The bank has been accepting some applications from users with less-than-stellar credit scores.

The card does include financial wellness tools like a “payment nudge” that shows how much interest a user would be charged for a given payment amount. The card also displays detailed spending information in real time, letting users track weekly or monthly spending, categorized by color.

Apple, which is counting on recurring fees to boost revenue as iPhone sales slow, has been making a broader push to expand its services business via its 1.4 billion active devices. Apple reported $11.46 billion in services revenue for the fiscal third quarter.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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