Apple has finally revealed when its sleek new credit card will launch (AAPL)


Apple Card

  • The Apple Card will be launching in August, the company said on its earnings call, confirming a previous report from Bloomberg.
  • This marks the first time Apple has provided a launch window that’s more specific than just saying it’ll launch this summer.
  • Visit Business Insider’s homepage for more stories. 

Apple’s iPhone-powered credit card will be launching in August, the company said on its fiscal third quarter earnings call on Tuesday. 

Apple announced the Apple Card during an event in March and said that it would be launching this summer. A previous report form Bloomberg indicated that the Apple Card will debut in August, but this marks the first time the company has confirmed it.

Apple is partnering with Goldman Sachs to launch the credit card, which provides benefits like no late fees and 2% cash back on Apple Pay purchases. The card will live in the iPhone’s Wallet app and is designed to work with Apple Pay, but customers will also be able to get a physical card to use in stores that don’t accept contactless payments. That card is laser etched and is said to be highly secure — there isn’t even a credit card number on the front.

The Wallet app will be able to color-code a user’s spending history and sort purchases into categories such as food and drink, entertainment, and shopping. Apple Card users will also be able to pinpoint the location at which a transaction took place on a map. CEO Tim Cook said on the call that thousands of employees have been testing the Apple Card out in the wild, also corroborating a previous report from Bloomberg. 

The Apple Card is one of several new services Apple will be launching in the near future. The company is also planning to release a new premium TV service called Apple TV+, which offers access to Apple original programming, and a subscription gaming service called Apple Arcade this fall. 

Join the conversation about this story »

NOW WATCH: Jeff Bezos is worth over $160 billion — here’s how the world’s richest man makes and spends his money