Apple Card will Offer Consumers Great Rates, Rewards, and More
Michael Hemsworth — March 26, 2019 — Lifestyle
The Apple Card has been announced by the technology brand as a new credit card product for consumers who are looking for a future-ready way to approach their finances. The card is backed by Goldman Sachs and MasterCard, and is deeply integrated with the company's existing Apple Wallet app that is presently used by many for making purchases via Apple Pay. Harnessing the power of machine learning, the card will label all of your transactions to let consumers keep track of all their expenses to see how they are spending on a weekly and monthly basis more effectively.
The Apple Card will provide consumers with cash back rewards on a daily basis instead of having to wait until they reach a certain level. The credit card won't come with any hidden fees and will provide users with access to the best rates on the market, according to the company.
The Apple Card will provide consumers with cash back rewards on a daily basis instead of having to wait until they reach a certain level. The credit card won't come with any hidden fees and will provide users with access to the best rates on the market, according to the company.
Trend Themes
1. Personalized Credit Cards - The integration of machine learning into credit card platforms could lead to the development of personalized credit cards with tailored benefits and rewards for individual users.
2. Feeless Credit Cards - Credit card companies could learn from the Apple Card's decision to eliminate hidden fees and offer transparent credit card products that do not impose extra charges on users.
3. Mobile Wallet Credit Cards - Credit card companies could explore the potential of integrating their products into existing mobile wallets or developing mobile wallets of their own to improve user experience and convenience.
Industry Implications
1. Finance - Companies in the finance industry could benefit from exploring the power of machine learning for personalizing credit card rewards and benefits while eliminating hidden fees and charges.
2. Technology - The technology industry can develop mobile wallet apps that can integrate existing credit card products or build new credit card services with smart features and benefits.
3. Retail - Retail companies can leverage the concept of personalized credit cards and offer tailored benefits to their customers through credit card partnerships and collaborations with financial institutions.
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