Leaked Images Show Apple Card’s Design in the Wild

Apple's upcoming Apple Card credit card is now being tested by both its corporate and retail employees ahead of a planned summer launch, and unsurprisingly, some images of the card have leaked out.

We already know what the Apple Card looks like thanks to Apple's promotional materials, but it's still interesting to see the design in person, with iMore sharing some photos provided by an Apple employee.


In person, the titanium card is as minimalist as it looks online, with the front featuring a simple embossed Apple logo, a chip, and a name, which in iMore's image, has been removed for privacy. There's no card number or expiration date included, nor is there a CVV on the back.

The Apple Card won't use a traditional card number, instead generating virtual card numbers and confirmation codes for purchases, which can be obtained from the Wallet app on the iPhone.

The back of the Apple Card is just as barren as the front, featuring embossed Goldman Sachs and Mastercard logos, along with a magstripe at the back. Goldman Sachs and Mastercard are Apple's Apple Card partners. For those curious, the Apple Card appears to weigh in at 14.75 grams.


Apple delivers the Apple Card in a plain white sleeve with an Apple logo on the front. The inside is multicolored, representing the different purchase categories that will be listed and colorized inside the Apple Wallet app when you make an Apple Card purchase.

According to iMore, Apple is approving people with a range of credit scores. A person with a credit rating between 600 and 700 was approved, though with a $1,000 credit limit. APRs range from 13.24 percent to 24.24 percent.

After applying for the card, it took the Apple employee iMore spoke to approximately one week to receive their Apple Card.

Apple is planning to launch the Apple Card in the summer, and employees testing the card are running the iOS 12.4 update, which is currently in beta. Apple has seeded four betas of iOS 12.4 so far, and it's probably not too far off from release.

It's not clear if the Apple Card release will be tied to the launch of iOS 12.4, but it's certainly a possibility, and suggests the Apple Card is coming in the near future.

For more information on the upcoming Apple Card, make sure to check out our full Apple Card guide.


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Thousands of Apple Retail Workers Now Testing Apple Card Ahead of Summer Launch

Ahead of the Apple Card's planned summer launch, Apple is now testing its upcoming Goldman Sachs credit card with thousands of retail workers, reports Bloomberg.

Apple was previously allowing its corporate employees to test the Apple Card, but is now expanding testing to a much larger group through an internal beta program that launched this week.


Employees are able to sign up directly from their personal devices, with the Apple Pay portion of the card activated immediately and a card scheduled to be sent within two to three weeks. Employees are receiving APRs between 13.24 percent and 24.24 percent, the same APR range that will be provided to consumers.

With thousands of retail workers available, the expansion marks the first wide scale test, allowing Apple to find and address bugs and other problems before the Apple Card launches to the public.

Apple employees have been asked not to discuss the card, but they are allowed to use it in public to make purchases.
Screenshots of the employee beta of the Apple Card show that test versions of the card are fully functional and include the ability to receive daily cash back, pay bills, see an order status for a physical card and receive technical support via text messaging. Users can also schedule payments, access their credit limit and manage connected bank accounts, among other tasks. Users will also have the ability to set the Apple Card as the default payment method for Apple purchases.
The Apple Card, created in partnership with Goldman Sachs, is deeply integrated into the iPhone and the Apple ecosystem. It offers 3% cash back on Apple purchases, 2% cash back on all Apple Pay transactions, and 1% cash back on all other purchases.

Purchases are tracked in the Wallet app on the iPhone, providing a breakdown of spending across different categories like health, food, shopping, and more. While the Apple Card offers higher rewards for Apple Pay purchases, for instances where a traditional purchase is required, Apple is providing customers with a physical card made from titanium.

Apple is planning to launch the Apple Card in the United States this summer, and Bloomberg says Apple has already been discussing an expansion into Europe with financial regulators. The employees using the card are running iOS 12.4 on their devices, and the iOS 12.4 update is expected to bring Apple Card support.

We've had four betas of iOS 12.4 so far, so a launch may not be too far off.

For a look at the Apple Card and what to expect when it launches, make sure to check out our dedicated Apple Card guide.


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Citigroup Reportedly Passed on Apple Card Due to Profitability Concerns

Apple is set to launch its own credit card this summer in the United States in partnership with investment bank Goldman Sachs and Mastercard. The aptly named Apple Card will be built into the Wallet app on the iPhone, with a physical version available for use at stores that do not accept contactless payments.


Apple is aiming to shake up the credit card industry by collecting no fees whatsoever, offering one to three percent cash back paid out on a daily basis, and providing consumers with interactive features such as color-coded spending summaries in the Wallet app to assist with spending and budgeting.

Now, a report says those consumer-friendly plans led some other banks to ultimately pass over the Apple Card opportunity.

According to CNBC, Citigroup was in advanced negotiations with Apple over the card, but pulled out amid doubts that it could earn an acceptable profit on the partnership. The report claims that other banks, including J.P. Morgan Chase, Barclays, and Synchrony, also bid on the Apple Card business.

Goldman Sachs has an advantage over those other banks since it does not already offer its own consumer credit cards, so it does not have to worry about potentially cannibalizing one of its own businesses.

"Goldman Sachs seeks to disrupt consumer finance by putting the customer first. We are excited for customers to use Apple Card, which is designed to help people take control of their financial lives," a spokesperson for the bank told CNBC.

Apple Card support will likely be added in iOS 12.4, with some Apple employees already receiving their physical version of the card.


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Apple Employees Starting to Receive Apple Cards (Photos)

Mobile leaker Ben Geskin shared images on Twitter of the consumer packaging of the new Apple credit card coming from Apple. Geskin reports some Apple employees are already starting to get the card which was announced in March.

In the images, the actual Apple employee's name was replaced by Geskin's to protect their identify. The packaging shows a similar pairing process as the AirPods, with instructions to "Wake iPhone and hold here."

The Apple Card resides both digitally in your iPhone for Apple Pay payments but also comes in a physical form made entirely of titanium. The card is laser etched with your name and does not have the card number or expiration date printed on it. Instead, those numbers will be available on your iPhone's Wallet App. There's still a traditional magstripe on the back, along with a built-in chip for chip and pin purchases. The Apple Card is expected to launch this summer.


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Apple Card Won’t Support Multiple Users, No Cost Associated With Physical Card

Apple this summer will introduce the Apple Card, a new credit card that it's offering in partnership with Goldman Sachs. Apple presented the Apple Card at its March 25 event and launched an Apple Card website, but there were still many questions about how it will work.

TechCrunch's Matthew Panzarino today shared some new details on the Apple Card that were provided by Apple, giving a little more insight into how it will work and answering a few of the questions we saw from MacRumors readers.


First and foremost, Apple Card is not going to support multiple users. People who use a single account with two shared credit cards at the current time are not going to be able to do the same thing with Apple Card. It's one card per person and one card per account.

There is no cost associated with the physical Apple Card, even though it's made of laser-etched titanium. Apple isn't going to charge you for the card itself and there isn't going to be a penalty fee if you lose it and need a replacement. There is an in-app option to freeze your card in the event that it's stolen.

Speaking of the physical Apple Card, Apple has implemented a neat activation method - you'll just tap it against the iPhone when you get it, without the need to place a phone call for activation like you have to do with existing credit and debit cards. When using the physical card, no signatures will be required.


Though it's tap to activate, the physical card itself isn't going to support contactless payments. You need your iPhone for that.

Paying your balance can be done in the Wallet app using a linked bank account or Apple Pay Cash, and while not mentioned by TechCrunch, there is an option with Apple Pay Cash to get an emailed statement, so Apple will presumably offer the same option with Apple Card. There's no word on whether transactions can be imported into financial software like Quicken as of yet.


As for fees, there are no foreign transaction fees but the exchange rate for foreign transactions is determined by Mastercard. Making a late payment will not result in penalty rates, aka increased interest rates. You're still going to have to pay interest on the outstanding balance, and a late payment will impact credit score, but interest rates won't increase.

TechCrunch says that when it comes to interest rates, Apple will make an effort to sign you up at the lower end of the interest rate tier that you qualify for.
While Apple Card's interest rates fail to break the mold in any major way (they are roughly between 13-24%), Apple will place users who sign up at the lower end of the tier that they land in due to their credit score. This isn't some incredible re-imagining of how to offer credit or an intensely low interest option, but it could shift you to the bottom of a tier when you qualify instead of paying a few points higher at your 'exact' score.
As Apple announced on Monday, there are no credit card numbers or other information on the physical titanium Apple Card. This data is instead available in the app, leaving some questions about online purchases where you often need a number and a CVV.

Apple Card is able to generate virtual card numbers for these kinds of purchases. The Wallet app will provide a virtual card number and a virtual confirmation code, with the number being semi-permanent and able to be regenerated whenever you want. This info can be used for non-Apple Pay online purchases, over-the-phone purchases, and other similar situations.

There is not, however, support for single-use numbers or single-merchant numbers for having separate card numbers for different merchants. Purchases will be further protected by a one-time use dynamic security code, and two-factor authentication will need to be turned on for you to use Apple Card.


When it comes to privacy, Apple said on stage that it won't know what you're buying or how much you spent, and its partner, Goldman Sachs, will not be selling or using data for external or internal marketing or advertising.

There's one other neat tidbit about Apple Card that's worth pointing out, which, while wasn't included in TechCrunch's details, has been circulating on Twitter. Apple Card uses different colors to categorize and code your purchases for labeling purposes, with entertainment in pink, food in orange, shopping in yellow, and so on.

It appears that when you use Apple Pay, the color of your card in the Wallet app will have a rainbow gradient based on your spending habits, so if you're buying a lot of food and purchasing a lot of movie tickets, it'll trend toward orange and pink.

TechCrunch has some additional details on privacy and security that are well worth reading through for those interested in the Apple Card, and our own Apple Card guide also has more information on what you can expect when it launches.


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Apple Card: All the Details on Apple’s Upcoming Credit Card

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. 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, so we've created this guide to provide details on what you can expect when it launches in the fall.


Signing Up for Apple Card


According to Apple, signing up for Apple Card will be as simple as opening up the Wallet app, tapping on the Apple Card interface, and walking through the activation steps.


Once you've signed up for Apple Card, it will be available for use immediately for digital purchases, suggesting Apple will have some kind of pre-qualified application process in place. Apple says availability is subject to credit approval, so you need to qualify for Apple Card just like you do with any other credit card.

For traditional purchases, you will need to wait until Apple ships you the physical Apple Card.

Using Apple Card with Apple Pay


Apple Card is designed to work with any other credit or debit card stored in the Wallet app for use with Apple Pay. You can set it as the default card and use it for in store purchases on iPhone and online purchases on Apple Watch, iPhone, iPad, and Mac.


Using Apple Card for Non-Apple Pay Purchases


If you need to pay for purchases that can't be made with Apple Pay, you can use the physical version of the Apple Card that Apple sends once you sign up.

In addition to Goldman Sachs, Apple is partnering with Mastercard, so the physical Apple Card can be used wherever Mastercard is accepted. Mastercard is fairly ubiquitous around the world, so the Apple Card should be accepted wherever Mastercard is available.

The Titanium Apple Card


With Apple Card you can make digital Apple Pay payments, but Apple is also providing a physical card. Since this is a credit card designed by Apple, it is, of course, unique among credit cards.


It's made entirely from titanium, which is laser etched with your name. The front of the card does not have a card number or an expiration date listed, and on the back, there's no CVV and no signature. If someone finds or steals your card, there's going to be no real way for them to use it, at least for online purchases.

There's still a traditional magstripe on the back, along with a built-in chip for chip and pin purchases. While the card number and CVV are not on the card itself, you can find them in the Wallet app if you need them.

Credit Limits


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.

Fees


Apple says there are no annual fees, international fees, fees for making a late payment or fees for exceeding your credit limit.

There may be no late fees, but if you make a late or miss one payment, Apple says this will result in "additional interest accumulating toward your balance."
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