August 20, 2019: The Apple Card launch brings the titanium credit card to U.S. consumers for the first time. It gives them a new option for payments when Apple Pay isn’t available.
The iPhone’s Wallet app handles statements and payments. And the innovative card is “designed to help customers lead a healthier financial life,” according to Apple. Surveys show the card soon becomes beloved.
“We’re thrilled with the overwhelming interest in Apple Card and its positive reception,” says Jennifer Bailey, Apple’s vice president of Apple Pay, in a press release. “Customers have told us they love Apple Card’s simplicity and how it gives them a better view of their spending.”
Apple Card launch brings a consumer-friendly experience
No one seemed surprised when Cupertino preannounced the Apple Card in March 2019. A credit card might seem a stretch for an ordinary computer maker. However, Apple Pay, which launched in 2014 had become very popular, so the company already offered financial services. Besides, the card serves as a companion to Apple Pay for use in stores and restaurants that don’t accept wireless payments.
And it’s no ordinary card. Cult of Mac‘s Apple Card review in 2019 called it “as friendly as a credit card can be.” The iPhone’s Wallet app clearly lists all transactions made with the card. And users pay no annual fees — the only cost is interest, and that can be avoided by paying off the balance each month.
Soon after the Apple Card launched, it became clear that consumers loved it. The J.D. Power U.S. Credit Card Satisfaction Study ranked Apple Card No. 1 in customer satisfaction in its category for the fourth year in a row in 2024. (Apple Card dropped to third place in 2025’s study.)
No ordinary credit card
Apple’s credit card is a MasterCard, and has two card numbers associated with it. A primary one, and a second one for online purchases. If the second number is stolen by hackers, it can be easily deactivated and switched to a new number without needing to change cards.
As with other credit cards, Apple’s offers cashback rewards. Most transactions pay 1%, while buying anything from Apple itself bumps that up to 3%. Payments almost immediately go into users’ Apple Cash totals.
Unlike many traditional credit cards, though, Apple Card is entirely digital (aside from the titanium card itself). There’s no option to have a monthly statement on paper mailed to the cardholder, nor can the balance be paid off with a physical check.
Even the physical card itself is a standout feature. Rather than cheap plastic, shoppers hand over a slab of titanium painted white. The card number isn’t written anywhere on the card, so it can’t be easily copied. A magnetic strip on the back works with legacy payment systems.
After the Apple Card launch, Goldman Sachs struggles
While there’s plenty for consumers to love, the years since the Apple Card launch have been hard on Goldman Sachs, the bank that backs the financial instrument. Reports indicate it’s lost at least $1 billion on the deal, and the bank reportedly wants out. Apple has reportedly engaged in talks with Barclays and Synchrony Financial to take the reins.
Apple reportedly pushed Goldman Sachs to accept nearly all applicants, increasing defaults. And Apple requires all cardholders to be billed at the same time: the end of every month, not staggered throughout the month, so Goldman Sachs’ customer service department is flooded with calls one week and then is idle the remaining three weeks.
How to apply for Apple Card
It’s easy to apply for an Apple Card. To do so, just open the Wallet app on your iPhone and tap the Add button. Select Apple Card, then tap Continue. Simply fill out the application and submit it. Alternatively, you can complete the application process on the web.
But note, Apple’s credit card is available only in the United States. The company never explains why, but one theory hinges on the limits many countries place on credit card interchange fees. These fees pay for the cash back rewards offered by the card.
The European Union’s 0.3% cap on the fees makes Apple Card’s 1% cash back impossible. Perhaps Apple will launch a stripped-down version of the card for people outside the United States at some point.
