Apple card: Transforming financial health for millions

02/03/2024 News

Apple Card, unveiled in 2019, has emerged as a cornerstone of financial health for over 12 million users, who collectively earned more than $1 billion in Daily Cash rewards last year. With innovative features like Apple Card Family and a lucrative Savings account, Apple is revolutionizing the credit card landscape, empowering users to achieve financial well-being.

Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, underscores the platform's unwavering commitment to innovation and meeting the diverse needs of its customers. Bill Johnson, CEO of Enterprise Partnerships in Platform Solutions at Goldman Sachs, echoes this sentiment, emphasizing the platform's ongoing dedication to user satisfaction and excellence.

Users have embraced Apple Card's digital-first tools, reaping substantial benefits such as:

• Daily Cash Rewards: Users earned over $1 billion in Daily Cash rewards last year, enjoying financial incentives for their spending habits.

• High-Yield Savings: The Savings account feature has proven immensely popular, accumulating over $10 billion in deposits with an impressive APY of 4.50 percent. Users can effortlessly grow their savings while enjoying competitive interest rates.

• Payment Tools for Financial Wellness: Nearly 30 percent of users make multiple payments per month, facilitated by Apple Card's intuitive payment tools. Real-time balance and interest estimates empower users to make informed decisions and cultivate responsible financial habits.

• Apple Card Family: Introduced in 2021, Apple Card Family enables users to extend benefits to their Family Sharing Group, fostering financial health among loved ones and promoting shared financial responsibility.

• Path to Apple Card: Over 200,000 users have leveraged the Path to Apple Card program, accessing credit through personalized steps designed to enhance financial well-being and expand access to financial resources.

Apple Card also prioritizes user privacy and security, boasting features like Advanced Fraud Protection and earning recognition as the Best Credit Card for Privacy by Bankrate in 2024.

Integrated seamlessly into Wallet on iPhone, Apple Card continues to redefine the credit card experience, empowering users to make informed financial decisions, cultivate healthy habits, and enjoy unparalleled privacy and security.

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