Apple Is Launching Their Own Credit Card Soon

August 16, 2019

Written by wukovits

apple is launching their own credit card soonApple has partnered with Goldman Sachs and their long-awaited “Apple Card” begins rolling out in limited fashion. The card becomes available to all iPhone owners in the United States toward the end of August.

According to CEO Tim Cook, a random selection of people who signed up to be notified about the Apple Card are getting an early-access sneak peek.

However, the company has been tight-lipped about exactly how many people are being invited into the preview group.

If you’re one of the lucky winners, know that the sign-up process will involve upgrading to iOS 12.4 and entering your address, your birthday, income level and the last four digits of your Social Security number.  That information is sent on to Goldman Sachs, which will approve or deny your credit application in real time and in under a minute.

Note that part of the approval process also involves a TransUnion credit check, so if you have that information locked, you’ll need to unlock it (at least long enough to get approval).

Once you’ve been approved, your card will show up in your Apple Wallet immediately and be available for use.  If you want one, you can request a physical card from Apple for free during the setup and it will arrive in the mail in a few days.

The cool thing about the physical card is the fact that it has an NFC tag on it, so you can activate it simply by tapping the phone against it.

Also note that you’ll have three different credit card numbers associated with your Apple Card:

  • The number assigned to your phone
  • The number assigned to the physical card
  • A virtual number you can access in the app for online purchases where the vendor doesn’t accept Apple Pay.

Also note that unlike the other credit cards in your wallet, this one has no expiration date or security code. You can lock the card at any time from the app, though.  Welcome to Apple’s Brave New World!

Used with permission from Article Aggregator

Bayou Tech

We provide solutions for your business. Find out how we can help.

Related Articles

Major Cyber Attack at OMV

Louisiana’s Office of Motor Vehicles (OMV) is one of a still undetermined number of government entities, major businesses, and organizations to be affected by an unprecedented Data Breach.There is no indication at this time that cyber attackers who breached MOVEit...

New Graphene Technology May Increase Hard Drive Storage

HDDs are old, well understood technology. They haven't changed much in recent years. In fact, increasingly, people are writing them off, preferring SSDs for their greater speed and smaller size, even though HDDs are less expensive. The clever folks at the University...

Some Amazon Device Features May Have Security Risks

Have you heard of Amazon Sidewalk? If not, it's definitely something you should be aware of. Depending on your point of view, the new feature, which was enabled by default on a wide range of Amazon devices by default on June 8 of this year (2021) is either...