Trending February 2024 # Apple Card Will Let You Generate Virtual Card Numbers For Online Purchases # Suggested March 2024 # Top 2 Popular

You are reading the article Apple Card Will Let You Generate Virtual Card Numbers For Online Purchases updated in February 2024 on the website Tai-facebook.edu.vn. We hope that the information we have shared is helpful to you. If you find the content interesting and meaningful, please share it with your friends and continue to follow and support us for the latest updates. Suggested March 2024 Apple Card Will Let You Generate Virtual Card Numbers For Online Purchases

Apple Card has awesome features but the most important of them all, at leasts from a security standpoint, is probably the ability to generate virtual card numbers on demand, which will come in handy for those times when you won’t necessarily trust the recipient.

And when you do that (create a virtual card), Apple will automatically make its number available as an AutoFill option in Safari across your iPhone, iPad and Mac.

Matthew Panzarino, writing for TechCrunch four days ago:

The physical Apple Card has no number. The app displays the last 4 digits of the card number that is on the mag stripe of the card only, you never see the full card number.

Instead, Apple provides a virtual card number and confirmation code (CVV) for the card in the app. You can use this for non-Apple Pay purchases online or over the phone. This number is semi-permanent, meaning that you can keep using it as long as you want.

But you can hit a button to regenerate the primary account number, providing you with a new credit card number at any time. This is great for situations where you’re forced to tell someone your card number but do not completely trust the recipient.

Card numbers are manually regenerated only, and do not automatically rotate. There is, currently, no single-use number support or single-merchant number support.

Each purchase requires a confirmation code, making it even harder for someone to use your card, even if skimmed or copied, to make online purchases.

Some innovative fintech startups already do this.

As an example, an awesome payment and banking service called Revolut makes it a cinch to create up to five disposable virtual Visa debit cards as one desires (one for Amazon, another one for PayPal, yet another one for eBay, you get the idea).

But what about disposable virtual cards and recurring payments?

If you use Apple Card for a subscription or ongoing service, it’s possible you’ll have to re-enter your info if you regenerate your card—though many, many retailers—especially if they have ‘Card on File’ systems already use account updater services.

These services can pull the new number from Mastercard to make sure that recurring payments remain in place and Apple Card members will have nothing to do. That old number is, however, completely invalidated.

Another detail caught my attention.

According to Panzarino, the physical card has a fixed number on its magnetic stripe but the customer doesn’t know what it is.

It’s important to note that the number you have in the app and the number that are on the magnetic stripe can be totally different and it doesn’t matter. You’ll only really know the last 4 digits of your primary account number on the physical card.

So what happens if you lose the card or it gets stolen? Easy, you will be able to instantly freeze the card in case of theft or fraud, right on your iPhone, with just a few taps in Settings.

Matthew also reveals some previously unknown details about how the card works:

Apple Card is powered by Gold Sachs and Mastercard. It will be available to qualified customers in the United States this summer. To increase your security and prevent skimming, the physical card has no numbers or names printed on it.

Apple Card customers will receive cash backs every day based on how much they spend and how: one percent with the physical card, two percent on Apple Pay purchases and three percent on everything bought from Apple, including apps, games and subscriptions.

The cash back is delivered daily to your Apple Cash balance or to the card monthly as a credit balance if you don’t have an Apple Cash account.

Are you planning on signing up for an Apple Card when it launches in May?

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How To Confirm American Express Card Online

How to confirm American Express card online

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If you are looking to get the best credit card then you probably applied for receiving an American Express. From ultra-elite business travel cards to everyday rewards, American Express has credit cards that are a good choice for many different types of cardholders.

Known as the best solution credit card in the US, more and more users have applied to get one. Once your Amex arrives in your mail, your next step is to activate it. 

If you wonder how you can activate your American Express card online, please make sure to carefully follow the guidelines presented here. You will activate your credit card in no time.

How can I activate my American Express card online? 1. Gather your personal and credit card details

Your laptop or a smartphone.

A stable and secure internet/wi-fi connection.

If you are applying for the first time you will need an email address.

Your American Express Credit Card number (15 digits).

The security code of your Credit Card (4 digits).

Your first and last name.

Date of birth.

Zip code.

Your mother’s middle name.

And lastly, your home address and phone number.

2. Make sure you are eligible for Amex credit card

You are a US resident.

Your age is 18 or higher as this is the minimum age requirement for the Amex card application.

You have a very high or clean credit score.

No bankruptcy in the last 7 years.

No active law case regarding finance.

3. Confirm your American Express card online

Open your browser on your Smartphone or Laptop.

Go to the American Express confirm card webpage.

Enter your 15 digit- Credit Card details.

Next, enter the 4 Digit- Card ID.

On the next page, you will be asked for a login to your account or register for Amex.

If you are an existing user of Amex – you can log in with

your American Express account

.

If you need to register

, enter your email address and choose a password.

Provide your details, Full name, home address, card number, phone number, and zip code.

Note: The location of your Card details may differ depending on your Card.

4. Activate your American Express with a mobile app

Download

the Amex app from Google Play or the App Store

On the app Login screen – tap create your account

Next, you need to enter your credit card details

Or, if you prefer, you can enter your Card Details manually

Tap Continue

Next, you will be asked to answer a security question. This could be your date of birth, the last 4 digits of your telephone number or your year of birth

Enter the answer and then tap Submit

Then choose your online services account user ID and the password.

Next, you will have to choose an additional security question. This could be your mother or father’s birthday or, another memorable date or a four-digit security key. You’ll need this to log in, so make sure you remember it.

Confirm the security answer

Tap Continue

If you haven’t already be asked for your phone number or email address then you will be asked to enter one or both

Finally, you can choose whether or not to receive marketing communication

Tap Continue and you are all done now.

Note: Remember to keep your online account details safe as you’ll need these each time you log in.

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Everything You Need To Know About Apple Card, News+, Tv+, And Games+

Tim Cook is announcing new services. Apple

Last week, Apple announced a bunch of new hardware with almost no fanfare. This week, however, the company is throwing a big announcement event to show off some new stuff. All signs point to new video, music, and news subscription offerings, but we won’t know until Tim Cook and company officially make their announcements. You can watch the live stream here or follow along with this post for everything you need to know!

Introduction

Tim Cook starts the presentation by trying to remind people about all the services Apple already offers. He mentions that all Apple services are designed for security, which gets applause from the audience. The first new service on the docket is Apple News.

Yeah, magazines are pretty good. Apple

Apple News

Hard to believe that Apple News has been around in its current form for three years. Apple News is now the number one news app in the world, which makes sense since it’s baked into the iPhone. It’s like the Yahoo! homepage of old.

Apple News+ is the upgraded version of the service and it will include magazine content as well as the typical online news stories. The deal will cover 300 different magazine titles. The experience seems a lot like what Apple originally did back in 2010. You can scroll down through a story and then swipe through individual articles. The hub will recommend other magazines for you to read.

It adds things like “Live Covers” which have motion in addition to the static cover.

Apple News+ will show you magazine recommendations. Apple

Apple calls News+ the best mobile magazine experience ever. You also get premium digital subscriptions for your money, as well as a newspaper subscriptions to the LA Times and the Wall Street Journal.

ApplePay

Switching away from news, Apple is talking about its mobile payment platform. It will soon come to Portland, Chicago, and NYC for transit.

Apple Card

The Apple credit card is real now. The card is designed specifically for use on the iPhone and you can use it within minutes of signing up.

The new Apple Card will show up in your Apple Wallet. It’s a credit card that exists virtually and keeps track of how you spend money and when your bills are due. Apple

Apple Card will use machine learning and maps history to decode entries on your credit card statements. So, if you paid for parking at a train station and it would normally show up as a cryptic address or business name abbreviation, Apple will figure it out.

The new Apple Card has a reward system called Daily Cash. “Every time you pay with your iPhone or Apple Watch, you get 2 percent of the amount in Daily Cash.”

The card won’t have late fees or international fees. The company partnered with Goldman Sachs and Mastercard.

The Apple card is Titanium and has your name etched into it. There’s no number, signature, or security nuber. Apple

If you use the physical card, you only get 1 percent Apple Cash, which nudges people to want to use the virtual card on the phone.

The whole Apple Card system is coming this summer.

Apple Arcade

More than a half billion people each week visit the App Store and games make up the most popular category. iOS is now technically the largest gaming platform in the world. More than a billion people have downloaded games from the App Store. There are currently 300,000 or so games on the platform, which is fewer than I would have expected.

Arcade is a gaming subscription service that works across devices, including iOS and MacOS devices.

The Apple Arcade will have its own tab in the App Store. You can download and play games without buying them individually. Apple

Apple TV App

Apple now wants you to watch all of your TV from within the Apple TV app. The idea is to let you pick your own channels and pay specifically for what you want. It’s basically an app update that works across platforms. The app will work on the Mac this fall (presumably with the next version of the OS).

Maybe the biggest news is that the app will be on smart TVs from LG, Samsung, Sony, and Vizio. It will also make its way to Amazon’s Fire TV devices and Rokus as well. It’s going to be everywhere.

Apple TV+

Here comes the new Apple premium TV service. Apple

The presentation for TV+ is all about movies. We’re watching a video with a bunch of mega-famous people. Apple is making original content with big names like Jennifer Anniston and Steve Carrell.

The service itself will have more than 100 originals and everything will be downloadable for offline watching. It’s coming in the fall and we don’t know how much it will cost just yet.

13 Best Free Virtual Credit Card/Debit Cards In Usa (2023)

Best US Virtual Credit/Debit Cards Online

Ramp provides unlimited virtual and physical cards, automated controls and approvals, and smart accounting integrations. The cards come with unlimited 1.5% cashback.

Ramp helps streamline your finances with unique features like automatic HRIS sync, receipt capture, and bill payments. It offers direct Integrations with QBO, NetSuite, Xero, and Sage Intacct. Ramp enables you to control your spending before it happens

#1 Top Pick

Ramp

5.0

Currencies Supports: USD

Security: AES-256

Set Spend Limit: Yes

Set Charge Limit: Yes

Visit Ramp

Features:

No Personal Credit Checks or Guarantee

It provides recurring limits and transaction-level restrictions.

Apple and Google Pay support

You can automate 95% of administrative tasks.

Provides international reimbursements in FX

Attractive 1.5% cashback on all your spending.

Easily consolidate and automate manual payments

It provides real-time reporting & insights with one dashboard for all company expenses

It offers best-in-class customer support

Offers automation of manual tasks like receipt collection and expense.

Wise is a online application that allows you to freeze your virtual card after making payment. It enables you to securely purchase online products.

#2

Wise

4.9

Currencies Supports: USD and INR

Security: AES-256

Set Spend Limit: Yes

Set Charge Limit: Yes

Visit Wise

Features:

Available for business or personal use.

Enables you to securely purchase online products.

Provides AES-256 encryption

Support browser extensions for Chrome, Firefox, Safari and Microsoft Edge

Available in 30+ countries including United states, Canada, Brazil, Bulgaria, Croatia, Cyprus, and Singapore

Loading methods like PayPal, Stripe, debit card, Apple Pay and Google Pay

Create 3 virtual cards at a time

Provides 1% cashback on your purchases

Offers Freeze card when needed, spend limit, and single-use cards

It provides customer support via Phone

Supported currencies: USD and INR

Supported Platforms: Windows, Mac and Linux

US Unlocked will allow you to shop U.S. websites from anywhere in the world using our Virtual Payment Cards with U.S. Billing/Shipping Addresses. This payment service is great for anybody wishing to purchase a US service like US Netflix, Hulu, DIsney+ etc..

#3

US Unlocked

4.8

Currencies Supports: USD

Security: 128-bit

Set Spend Limit: Yes

Set Charge Limit: Yes

Visit US Unlocked

Features:

The company offers 2 types of cards: a one-time use card that cannot be reused after one transaction and a merchant-specific card that locks to a merchant after a transaction.

You can load your account depending on your country (Local Bank Transfer, Sofort, Boleto, Yandex and 14 new load methods.

Provides 128-bit encryption

Support browser extensions for Edge

Available in 180+ countries including India, United states, United kingdom, Philippines, Singapore, and Australia

Loading methods like bank transfers, Deposito Identificado, Sofort, DirectPayEU, eps, giropay, Teleingreso and Verkkopankk

Provides $10 shipping reward on your purchases

Offers spend limit, Merchant locked, and Charge Limit

It provides customer support via Email, Phone, Chat and Contact Form

Supported currencies: USD

Supported Platforms: Mac, iOS and Android

#4

Wallester

4.7

Currencies Supports: EUR, USD, GBP

Security: 3D Secure Technology

Set Spend Limit: Yes

Set Charge Limit: Yes

Visit Wallester

Features:

300 virtual cards for FREE

Instant issuance of an unlimited amount of cards

No card issuance fee, no card service fee

European BINs works perfectly with facebook, google, etc

User-friendly app that allows you to monitor expenses, approve transactions and generate reports on the go

Provides an API

Possibility to purchase a personal BIN

Fast registration and standard KYC, approval within 24 hours

Detailed reporting and analytics to track all transactions

Supported currencies: EUR, USD, GBP

Supported Platforms: Web, IOS & Andriod

IronVest is a VCC provider that helps you to protect your payments, bank transactions, privacy, and password from cybercriminals. It enables you to checkout from the phone, browser, or tablet.

#5

IronVest

4.6

Currencies Supports: USD

Security: 256-bit AES

Set Spend Limit: Yes

Set Charge Limit: Yes

Visit IronVest

Features:

IronVest can generate a new credit card number for every purchase.

It can sync securely across all devices.

This service can stop secret data collection, block hidden trackers, and more.

You can fill out the online form with just one tap.

It can encrypt your password.

Provides 256-bit AES encryption

Support browser extensions for Chrome, Firefox, Opera and Edge

Available in 20+ countries including US, and UK

Loading methods like Credit Card, Debit Card, and ACH

Provides 1% cashback on your purchases

Supports credit cards like Discover, Maestro, American Express, VISA, MasterCard

Offers spend limit, and charge limit

It provides customer support via Email, Live chat

Supported currencies: USD

Supported Platforms: iOS and Android

Divvy is a service for a virtual card that can be used for online payment. It can make your transactions using a 16-digit card number. This online Debit card company allows you to set a limit on each virtual card.

Features:

This online virtual credit card service offers force card expiration dates and the merchant locking facility.

It provides protection from the data breach.

You can delete or free virtual cards.

Divvy helps you to choose the card amount you want, and the funds are loaded on the card from your budget.

You can use cards anywhere.

Provides AES 256, MFA and SOC2 encryption

Support browser extensions for Google Chrome, Firefox and Safari

Available in US

Loading methods like Paypal, Venmo, Zelle and other P2P

Create Multiple cards

Provides 1% cashback on your purchases

Supports credit cards like Virtual and Visa

Offers Freeze card when needed, spend limit, single-use cards, merchant locked, and charge limit

It provides customer support via Email and Phone

Supported currencies: USD

Supported Platforms: Windows, Mac, iOS and Android

Airtm is a platform that helps you to pay money through a virtual card. It allows you to send money online using a real exchange rate. This site allows you to use your dollars to fund your digital card.

Features:

You do not require to keep minimum balances.

Enables you to make online purchases in any currency.

It offers cards that can be recharged with crypto.

Allows you to add money from more than 800 banks.

Provides 2FA encryption

Support browser extensions for Chrome, Firefox, Microsoft Edge and Safari

Available in 190+ different countries

Loading methods like debit card and PayPal

Create 5 active virtual cards

Provides 1% cashback on your purchases

Supports credit cards like Visa, MasterCard and American Express

Offers spend limit, and charge limit

It provides customer support via Ticket and Chat

Supported currencies: USD, ARS, VES, COP and INR

Supported Platforms: Android and Windows

Advcash is a virtual service provider that enables you to shop online without any hassle. It allows you to transfer funds to existing visa cards, email addresses, and other users.

Features:

You can withdraw money from ATM in any currency.

It allows you to add multiple currencies within a single account.

This platform performs instant exchange transactions without any hassle.

Provides 2FA and SSL encryption

Support browser extensions for Chrome, Firefox and Safari

Available in 150+ different countries

Loading methods like p2p transfers and cards

Supports credit cards like Mastercard and VISA

Offers spend limit, and charge limit

It provides customer support via Contact Form, Email and Phone

Supported currencies: USD, EUR, GBP, RUB, BRL, TRY, UAH, KZT and VND

Supported Platforms: Windows

9) American Express Go

American Express Go is a virtual US credit card provider that offers easy to use an expense solution.

It provides a faster and flexible way for your freelancers, contractors, and recruiters to make payments from mobile.

Features:

You can create your virtual card with ease.

It helps you to keep track of all the transactions.

This service enables you to control spending.

Employees of your organization can add funds.

Provides AES 256-bit and 2FA encryption

Support browser extensions for Google Chrome, Firefox and Safari

Available in 20+ countries including US, Canada, UK, New Zealand and India

Loading methods like PayPal and Credit Card

Provides 1% cashback on your purchases

Supports credit cards like Visa, Switch, Solo, Maestro, Mastercard, Electron and Delta debit cards

Offers Freeze card when needed, spend limit, single-use cards, and charge limit

It provides customer support via Phone

Supported currencies: USD, TRY, CAD, SAR, KRW, AUD, BDT, INR, NGN, BSD, PEN and more

Supported Platforms: Windows, Linux, iOS and Android

10) Netspend

Netspend is a virtual prepaid card service provider. It helps you make personalized cards with a unique image and photo. This card service provider sends transaction alters as a text message.

Features:

This temporary Credit card service allows you to check your card account balance anywhere, anytime.

You can create a temporary card number with ease.

This instant virtual Debit card provider protects your card, even if someone uses your card.

Netspend cards can be used all over the country.

Provides SSL and MFA encryption

Support browser extensions for Google Chrome, Mozilla Firefox, Microsoft Edge and Safari

Available in 100+ different countries including US

Loading methods like PayPal and Credit Card

Create 6 Virtual cards

Supports credit cards like Visa, Mastercard, and debit card

Offers Freeze card when needed, spend limit, merchant locked, and charge limit

It provides customer support via Email and Phone

Supported currencies: USD

Supported Platforms: Windows, iOS and Android

11) Bento

Bento is a virtual card provider that offers an easy way to manage your organization’s expenses and spending. This service helps you to generate and assign a virtual card for your account.

Features:

Card information is securely stored in your account.

It helps you to manage both virtual and physical cards.

You can instantly use a virtual card once it is issued.

The card is accessible by authorized users.

It offers security and speed than a traditional physical card.

Provides 256-bit SSL and 2FA encryption

Support browser extensions for Chrome, Firefox and Safari

Available in 200+ different countries

Loading methods like credit card, debit card and Paypal

Create 2 Cards per year(paid)

Provides 1% cashback on your purchases

Supports credit cards like Mastercard, Maestro, Visa, American Express and Dicover

Offers Freeze card when needed, spend limit, single-use cards, and charge limit

It provides customer support via Phone and Contact Form

Supported currencies: USD

Supported Platforms: Windows, iOS and Android

12) ePayService

ePayService is a company that enables you to have a safe and secure online payment. It is one of the best virtual credit card providers that helps you to control your online shopping with cards.

Features:

It can quickly distribute your virtual card.

The company supports USD, GBP, and EUR.

It can keep the details of your free Debit card number safe.

This virtual credit card usa can customize your online shopping using different values.

The maximum purchase amount is 3500 USD.

It does not take any monthly or purchase transaction fees.

Provides 2FA and 256-bit SSL encryption

Support browser extensions for Chrome, Firefox, and Safari, including instant virtual debit card free services.

Available most European countries including Austria, Cyprus, Netherlands, Spain, Belgium, Estonia, Slovenia, Finland, Germany, Greece, Ireland, Italy, and more

Loading methods like Bank Transfers and debit card

Create 3 active virtual cards

Supports credit cards like Mastercard and VISA

Offers Freeze card when needed, spend limit, and charge limit

It provides customer support via Chat, Email and Phone

Supported currencies: USD, INR and EUR

Supported Platforms: Windows

13) Emburse

Emburse is a company that offers both virtual and physical credit cards. It has role-based permission and approval. This company protects from fraud by verifying person for each transaction.

Features:

It offers real-time insights and reports.

Emburse provides a mobile receipt.

It supports Apple Wallet and Android Pay.

The application can automatically categorize expenses.

It helps you to manage your purchase.

Provides 2FA and 256-bit SSL encryption

Support browser extensions for Chrome, Firefox and Safari

Available in 120+ different countries

Loading methods like PayPal, Credit Card, Apple Pay and Bank transfer

Provides 1% cashback on your purchases

Supports credit cards like Visa, MasterCard and American Express

Offers spend limit, single-use cards, and charge limit

It provides customer support via Contact Form, Email and Phone

Supported currencies: 183+ currencies

Supported Platforms: Windows

FAQ

Virtual Cards are computer-generated credit card (not physical plastic cards). It enables you to make purchases online without inputting your original card number. These cards provides fraud protection and auto management on spent limits.

Below are some of the best Virtual credit cards in US:

Ramp

Wise

US Unlocked

Wallester

IronVest

Divvy

American Express Go

Yes, you can create free virtual credit cards with money that become automatically disabled after completing one transaction. These cards are helpful when dealing with nontrustworthy sites that charge you recurring fees without your knowledge.

Yes, you can create virtual cards with different transaction limits of your choice.

Yes, if you have you use a virtual card in-store, you can simply show the cashier your credit card from the website of virtual card provider.

Yes, you can transfer money from a virtual card.

A Virtual credit card works almost the same as a normal credit card, but it offers additional security. It is a temporary and randomly generated 16-digit card number that you can use while making online payments. This 16-digit number is linked to your credit card, which makes it hard to commit fraud. You just need to enter your virtual credit card number instead of your regular credit card number, and the further process is the same.

Following are the steps to get a virtual credit card:

Step 1) Get a Credit card

Step 2) Log into your credit card account online and go to its settings

Step 3) Download the virtual card issuer’s app if needed and log into the app

Step 4) Search for a Virtual credit card and access the card number

Step 5) Accept the 16-digit virtual card number, expiration date, and security code generated and choose the duration you want the number to be valid

Step 6) Now, you can start using your virtual credit card

Here are some of the best virtual credit/debit cards in USA:

US Unlocked

IronVest

Wallester

Airtm

Advcash

Bento

Best Online Virtual Prepaid Credit Card & Debit Cards in USA

An Apple Credit Card Review: Is It A Good Deal?

Apple has created a credit card. For people who mainly think of Apple as a computer (or phone) company, this might be a surprise. However, Apple isn’t so much a technology company as it is a brand that sells a particular viewpoint on how things should look, feel and work. So, in principle, an Apple credit card isn’t all that strange. Apple believes they’ve reinvented the traditional credit card but is it a good deal in real life?

We took a hard look at what the Apple credit card offers on paper and scoured sites like Reddit and social media to get a feel for the day-to-day troubles people have run into using this Titanium card. 

Table of Contents

So if you’re tempted to get in on the shiny new (card-shaped) thing from Apple, read this first to make sure you know what you’re in for.

Apple Credit Card: What’s the Deal?

Why should anyone want to have an Apple credit card instead of a traditional card from established banking institutions? There are a few core value propositions the Apple credit card brings to the table that can be summarized as follow:

Total integration and dependence on iPhone

Integration with Apple Pay

Clear and intuitive dashboard for payments and interest

Very favorable interest rates (if you can get them)

Cashback (with higher rates for Apple and partners)

Interest-free terms on Apple devices

Apart from that, the physical card itself is a typical Apple piece of engineering. Minimalist and made from titanium, the card is unlikely to ever wear out. However, in this article, we don’t care about the physical card, but rather the deal as a whole. So let’s discuss these value propositions in more detail.

iPhone Integration (For Better or Worse)

One unique aspect of the Apple credit card is its reliance on the iPhone. If you don’t have an iPhone, you can’t get an Apple credit card.

The card itself is just an extension of a digital wallet system that exists on your phone. It has no credit card number on it and is virtually blank. The physical card essentially gives you a way to pay if Apple Pay is not available. This means getting 1% cash back instead of 2%. Sure, the titanium card is gorgeous and cool, but it’s not the point at all.

The Interest Advantage of the Apple Credit Card

Apple says that their card is different since it incentivizes you to pay less interest. This seems a little counterintuitive because credit card companies make money from the interest you pay on your borrowed credit.

Apple has gone out of its way to show you exactly when and how to pay to avoid interest on your outstanding balance. You also only pay for the portion of the balance you elect not to pay. This isn’t all that different from how most credit cards work. If you borrow money from a credit card over short periods and pay it back within a certain time frame you don’t accrue any interest.

The main difference here is Apple shows you the numbers that let you minimize interest payments, rather than keeping those hidden out of sight.

The Apple credit card is notable for more than just how transparent it makes interest calculations. Apple is also offering some of the lowest interest rates in the market for a cashback credit card. 

While your potential interest rates are pretty low overall, how close you get to the lowest possible interest rate will depend on your credit rating and the algorithm that Apple uses to determine card limits and interest rates.

Cashback Rewards

Speaking of cashback rewards, Apple has a rather unbalanced solution in place. If you buy Apple products or make Apple Pay purchases from partners, the cashback rewards are substantial. If you buy things outside of this partner network, there are cards out there that offer better returns on average. 

So whether the Apple credit card is a good deal strongly depends on whether you’re a frequent Apple customer, use Apple Pay regularly, or shop at retailers who are part of their partner network.

The Apple Gadget Advantage

If we’re being honest, one of the main reasons that Apple likely came up with their credit card is so that they can sell more Apple stuff to people. Since you need to own an iPhone to have the card, only people who are already in their ecosystem will qualify. 

Apple offers to sell you Apple products using their card at no interest at all. In other words, you’re getting your Apple gadgets at the cash price, but on a payment plan. Not all products are eligible and the maximum repayment period varies, with 24 months being the longest possible.

The Goldman Sachs Connection

While the card is boldly emblazoned with the iconic Apple logo, you’re probably not surprised to hear that Apple hasn’t become a completely independent financial institution. Their card is backed by Goldman Sachs. 

While there’s nothing wrong in principle with this move, anyone who is considering applying for their card should know who they are doing business with. There have been stories in the media raising privacy concerns and potential issues of discrimination by algorithms when it comes to determining interest rates. 

If you aren’t happy with how Goldman Sachs does business, then you won’t be happy to own an Apple credit card.

Who Is The Apple Credit Card Good For?

Let’s get the main issue out of the way first. If you aren’t already an iPhone user or someone who’s going to be sticking with the iPhone and the Apple ecosystem over the long term, the Apple card simply isn’t worth it. Sure, it has no annual fee, but in reality, the cheapest iPhone costs $400. So make of that what you will.

Since you’d have to first invest in an iPhone, which isn’t cheap, the rewards don’t justify it. If you’re looking for a way to get your Apple fix for the best prices, the card becomes much more attractive. The interest-free payment plans on Apple gadgets are an amazing offer. You also get a further 3% cashback on repayments towards the device.

The same goes for Apple Pay purchases. If you’re already using Apple Pay in your daily life, then the card offers great benefits. If no one in your usual selection of retailers offers it, there’s little reason to use the Apple card.

Another issue that might be a problem for many people is the fact that Apple does not allow for more than one person to be authorized to use the card. So if you wanted a second card for a spouse or child, you’re out of luck without that person buying their own iPhone and applying for their own Apple credit card.

Trak, A Mobile Credit Card Reader For Ios

I don’t know if you’ve noticed, but we’re big fans of Kickstarter here at iDB. And it seems that Kickstarter project creators like us, too. Apparently, thanks to iDB, a few thousand dollars have been raised for various Kickstarter projects, and we’re pretty proud of that.

Today, we sit down with Keith White and talk to him about Trak, a mobile credit card reader for iPhone and iPad he intends to launch with a little help from Kickstarter.

In just a few words, what is Trak?

Trak is the next-generation mobile POS credit card reader device and app for iPhone, iPad, and Android devices. Trak reader is ultra thin and small enough to fit into your pocket. It’s pretty sleek-looking too.

How did you get the idea of Trak and why did you start this project?

In September 2010, I developed a multimedia mobile entertainment content platform to help Sony Music monetize its large digital music catalogue on a mobile carrier’s 3G wireless network in Latin America. During that period, a lot of industry buzz and hype was around mobile payments, especially near-field communications (NFC). I liked the Square business model better and saw market opportunities Square was not addressing. So I decided to create Trak to address the void.

Do you have a background in product design?

No, I do not have a background in electronic product design, but I have a good sense of really good designs and I have a great team of designers around me. Not to mention I oversaw the website design and development of one major video portal in 2008.

Who is helping you out with this project?

Your goal is to raise $20,000. How do you expect to get there?

Yes, $20,000 is the minimum goal. The goal will be reached by individual consumers and readers pre-ordering and making a pledge on our Kickstarter page. Pledges start at $5, and for as little $25, $50 or more, backers will receive the Trak reader first edition before public launch. We think it’s the coolest-looking and aerodynamic card reader on the market.

How different is Trak from similar products like Square?

Square’s reader is unencrypted, meaning it lacks security in the reader or at the card swiping level to protect customer’s card data from theft and tampering. Lacking this security at the reader level can expose the customer’s card and merchant’s data to risk. Trak has encryption at the card reader level to fight fraud and card data theft.

Square charges a 2.75% per swipe transaction fee. Trak swipe fee is 2.5%. Trak offers an ambient sensor light to alert the merchant when the card has been swipe successfully, Square does not.

Trak connects through the 30-pin connector slot at the bottom of your iPhone and iPad. Square connects through your headphone jack and you have to have the volume on the phone set to high or the Square reader want transmit the signal for the transaction to the device.

Often times you have to swipe the Square reader multiple times for the card to be read successfully. Trak does not have this problem. There are other attractive features that I can share with you at a later date.

When will Trak enter production?

I can only say that we expect to launch in late Q1 or early Q2 of 2012. Anyone can participate in our early beta test by going to our Kickstater page and there is a pledge level for beta testers.

How much will it cost?

The first edition of the Trak reader can be pre-ordered now for $25 on Kickstarter and the app will be free.

Where will we be able to buy a Trak?

Trak will be offered online at our chúng tôi web site. We have not launched the site yet, as we are still in stealth mode and will have many more details and goodies to reveal at a later date. We are also talking with a few national retailers about Trak being sold through their stores. More information to be announced about this at a later date.

As Keith mentioned above, pledges start at $5 and go all the way to $250. Those of you who decide to invest in this project will receive the first version of the Track reader once its made available. Please make sure to visit Trak’s Kickstarter page for more information.

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