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The unique thing about the Apple Card itself is that it is titanium and only has your name imprinted on it. There is no signature, card number, expiration date nor security code. It retains a chip and a mag stripe.
It is intended to be mostly used via electronic Apple Pay. When using the physical card you sign digitally not on a paper receipt. The missing info on the card, lack of signature and no need to sign a receipt will likely confuse retailers until they get used to seeing it.
The cash back isn’t that great a deal but it does show up immediately in the Apple Pay Cash card in the digital wallet soon after a transaction.
The big thing is the lack of fees and extreme transparency about your transactions and your debt load and the way a minimum payment is discouraged. It actively trains the user to not carry a balance. Far superior customer experience in managing the card.
The shady way most credit card companies do business and profit at the expense of their customers via fees, delays in posting, as well as cash back or restricted flyer miles or digital cash that can only be spent at their curated store, etc., etc., etc. is why the Apple Card might become very popular. Mainstream credit card companies have been milking consumers for decades. Leaving it to consumers to figure out. So the transparency of the Apple Card experience will in my opinion make a huge difference.
You must have an iPhone to use an Apple Card. So it does add to the Apple walled garden but many of us are already locked in. It’s just that we don’t want to get out. It is a comfy garden.
