A new Apple credit card, to be named Apple Pay is launching next year. Barclays currently issues the US Apple credit card. The current credit card offers no signup bonus but 3 points per dollar spent at Apple. You also get 2 points per dollar spent at restaurants. That’s it. Points can be redeemed for Apple and iTunes gift cards.
The Wall Street Journal has published and an article outlining that Apple will end it’s relationship with Barclays and is setting up with Goldman Sachs.
The new Apple card is to launch in early 2019 with the Apple Pay brand, which is also the name of Apple’s mobile wallet. Goldman Sachs will also be offering in-store loans to finance Apple products.
We don’t yet know what benefits will be offered with this card. One would imagine that it will look quite cool and we would hope for better benefits than the current card, but right now there is no information available on the actual benefits of the new card.
I would ideally like this card to amalgamate the best of the benefits of other credit cards. My dream card would:
Offer free currency exchange (at interbank currency rates) and withdrawals abroad like the free Revolut payment card. This is my current favourite card as it saves me around £500/anum in currency conversions.
A super in-app low-fee crypto and stock trading functionality, again like Revolut.
In reality, I suspect an Apple bonus for taking out the card is unlikely; Apple rarely offers something for nothing. I think an app to trade is also unlikely for the time being; the card will most likely just link to Apple Pay. Of course, it will probably look super cool, but for me, that’s not enough…
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