The physical Apple Card is a thing of beauty

Jennifer Bailey vice president of Apple Pay at an announcement that it would release its own credit card called Apple Card

Sara Rathner, credit card specialist at financial product comparison site NerdWallet, said there are "a lot of cash-back cards that offer similar benefits" but that the card would be convenient for consumers who purchase a lot of Apple products and services. However, purchases made using the physical Apple Card will get just one percent cash back. There are no annual, late, worldwide or over-the-limit fees while interest rates are "among the lowest in the industry" claims Apple. Apple said it will also provide interest rates that are among the lowest in the industry. Instead of accumulating points and applying for gift cards or whatever like some credit card programs do, Apple Card gives you cash back with every purchase, which is uploaded to your card daily.

It works globally where Apple Pay is accepted, lets users track spending in the Wallet app, and focuses on transaction privacy. What this means is that you'll be able to know whether you'll be able to save up on interest by either paying it bi-weekly or monthly. The card, created in partnership with Goldman Sachs and Mastercard, comes with some features that set it apart from traditional credit cards like a lack of a visible credit card number. You can use the card just as you use Apple Pay, by tapping your phone at an NFC payment terminal in-store or buy selecting the Apple Card when shopping in-app or on the web.

"Every purchase is secure because it is authorised with Face ID or Touch ID, and a one-time unique dynamic security code", said Apple. The card is made of titanium and contains no card number, no security code, and no owner signature.

All of that, of course, is stored in the Apple Wallet app, so Apple figures there's no need to have it on the card.

No word on when (or if) it'll arrive here in the United Kingdom, but Apple Card hits the USA this summer.

A titanium card with your name laser-etched on the front will function as a "real" credit card, but it's also linked to your Apple Wallet and Apple Card info. The company says that customers will be able to sign up and start using the card "in minutes" and that customer support will be available 24/7 through Messages.

Apple Inc. CEO Tim Cook speaks during a company product launch event
Apple Inc. CEO Tim Cook speaks during a company product launch event

Its star product, the iPhone, remains a triumph, but recent numbers have shown a fall in demand, while its services, which include its Apple Music streaming app, are growing.

"I definitely see why Apple is doing this: they want to juice Apple Pay usage (Crone says PayPal/Venmo has 267 million users versus 32 million for Apple Pay)", Rossman wrote.

The ease of use extends to figuring out the fees you'll have to pay: There are none. For Apple Store, App Store and Apple Services purchases, you'll get 3 per cent cash back. By putting this card out, Apple Pay use, which has not been embraced almost as much as many thought it would, could see a spike in usage.

The Apple Card's 2 per cent cashback isn't one of the richest cards to debut in recent years.

Apple and Goldman Sachs won't share user data with partners and advertisers.

Chelsea: Borussia Dortmund want Hudson-Odoi to be their next Sancho
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