In summer 2019, Apple will launch an Apple Card credit card that’s linked to Apple Pay and integrated into the iPhone Wallet app, bringing with it some innovative tools to help users manage their spending. Backed by Goldman Sachs and Mastercard, Apple’s virtual credit card will also be available as a physical titanium card for use at merchants that don’t accept Apple Pay.
Whether you make digital Apple Pay payments or use the titanium equivalent to make purchases, Apple Card will give you cash back rewards on them, and that means Apple will be entering a market dominated by a raft of already well-established cards offering similar cash back reward schemes. So apart from being built right into iPhone and with all that it entails, how does Apple Card stack up against the big banks’ rival offerings? Keep reading to find out.
First, let’s take a look at how Apple’s cash back scheme works. Apple Card will offer three types of cash back rewards depending on how and where you use it.