With the proximity of the launch of the Apple card In the United States, Ma's partner bank Goldman Sachs published the card agreement and provided some information on its use, including the reward program. Daily cash and some restrictions.
The agreement also covers other details such as eligibility (the user must have an Apple ID and two-factor authentication is enabled), use of the Apple Card account (it cannot be used for cryptocurrency activities) and credit limit in addition to eligible devices; return information and fees.
It is worth highlighting a specific detail of the contract: Goldman Sachs expressly probes the performance of jailbreak on any device associated with the Apple Cardclaiming that failure to comply with this rule may result in the termination of the user account. For those who do not know, jailbreak It is the practice in which iOS devices (iPhone, iPad, and iPod touch) are unlocked to perform actions and run software not authorized by Apple.
If you make unauthorized modifications to your eligible device, such as disabling hardware or software controls (for example, through a process sometimes called Jailbreak), your eligible device may not be eligible to access or manage your Account. You acknowledge that the use of a modified eligible device associated with your Account is expressly prohibited and constitutes a violation of this Agreement and may result in limiting or prohibiting your access to or termination of your Account, as well as any other features available under this Agreement.
As we noted, the Apple Card has no additional fees (whether annual, transaction, maintenance, or card issuance), but customers who fail to pay their bills on time will incur revolving interest ranging from 13.24% to 23, 24% per year, depending on pre-approved credit limit.
As for the reward program Daily cashGoldman Sachs claims that purchases made directly from Apple return 3% of the total, while other Apple Pay transactions earn 2% and purchases using the physical card earn 1%. If a purchase meets two categories simultaneously (such as an Apple Pay transaction at an Apple Store), customers will receive an even higher return on Daily cash.
Finally, invoice payments and other Apple Card accounts may be made from the service's own checking account, or then through another bank located in the US. Of course, Goldman Sachs will not issue cards linked to an account and on behalf of someone else, only one card will be available per Apple ID.