Apple Inc. and Goldman Sachs Group Inc. are launching the Apple Card credit card for iPhones.
The card is tied to Apple Pay, a service that lets people load banking information and pay in stores like Starbucks or make purchases online. It works globally where Apple Pay is accepted, lets users track spending in the Wallet app, and focuses on transaction privacy. The card also includes a cash back program for rewards, including 2 percent cash back on all Apple Pay purchases and 3 percent on Apple Store and services like the App Store.
The card excludes common charges like annual, foreign-transaction and late fees, Jennifer Bailey, Apple’s vice president of Apple Pay, said. Apple and Goldman Sachs won’t share user data with partners and advertisers. Apple will also offer titanium credit cards with laser etching for places where Apple Pay isn’t accepted.
