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Apple Card, Credit Card Without Annuity, May Be Launched in August | Productivity

The Apple Card, Apple's new non-annual credit card service, is expected to hit the market within a few days. According to a publication by Bloomberg From this Friday (26), the Apple card in partnership with the US bank Goldman Sachs will be released by mid-August. The news was announced in March during the Apple TV + streaming service presentation event. The company has not confirmed the release date.

Service may be requested for the time being only in the United States. The user will be able to order through the Wallet app, available for iPhone (iOS) iOS 12.4, released this week with new data migration function, would already bring the necessary support. Apple Card is not expected to arrive in Brazil.

Meet the Apple Card, the new iPhone credit card service

Apple Card could hit the market in August, Bloomberg says Photo: Divulgao / AppleApple Card could hit the market in August, Bloomberg says Photo: Divulgao / Apple

Apple Card could hit the market in August, Bloomberg says Photo: Divulgao / Apple

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How Apple Card Works

The card can be used to make payments in virtual and physical establishments. Shopping with the virtual card at stores, apps, or websites around the world will yield 2% cashback, with daily in-app balance. When using Mastercard branded physical titanium card, the return will be 1%. Already Apple store purchases will yield 3% cash back.

The Apple Card does not have annuity, late payment, or "overflow" fees. Interest will be charged only if the user pays less than the total invoice. For ease of calculation, Wallet will show you an estimate of the proportionate charges that will be paid based on the amount of the payment.

Apple Card Digital Card No Charge from Apple Photo: Press / AppleApple Card Digital Card No Charge from Apple Photo: Press / Apple

Apple Card Digital Card No Charge from Apple Photo: Press / Apple

Through the app, the Apple Card also displays "smart" payment suggestions, which will help pay off debt faster, paying less interest. The card will have a single universal due date, the last day of the month, but you will be able to schedule weekly payments and enable reminders. The app will also allow you to view detailed reports.

According to sources heard by Bloomberg, the project was slow to take off because of differences between Apple and Goldman Sachs. While the mother company was in charge of designing the card and developing the software interface, the bank was left with the financial infrastructure, managing payment problems, transaction data, and gathering information for monthly statements.

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