Image: An Apple Store in Shibuya, Japan. Flickr user Dick Thomas Johnson // CC 2.0 License

Hugely anticipated for quite some time now, Apple today announced the ‘Apple Card’ — a digital apple credit card system from the Cupertino giant. While it obviously works exactly like your original cards, it has a ton of new features, that significantly reduce your headaches about calculating those card spends.

To start with, the sign up is a breeze. A few minutes on the Apple Pay app and you can simply sign up for the new Apple card. Obviously, it is designed for the iPhone, and works with the Wallet app.

Once you sign up for the Apple card, you can almost immediately start using it. You can tap on the card to check for your last transactions. The transactions, unlike your usual credit card statement, will make sure that full merchant name appears instead of the coded, half-lettered ones that appear. This is something proprietary from Apple, and the company uses machine learning to determine the merchant. A mini location will also be shown using Apple Maps.

Oh, and there is a cashback system as well! Every time you make an Apple Pay transaction, you get 2 percent in cash back. You don’t have to wait until the end of the month as your cash is credited every day. For Apple purchases, you get 3 percent back.

As speculated, the Cupertino giant has teamed up with Goldman Sachs and Mastercard to issue that card. Attaching its famed privacy tag to the card, Apple doesn’t know what you bought, how much you paid for something, and where you bought it. Banking partner Goldman Sachs promises, that it would reciprocate what Apple does, and wont sell your data to advertisers. A big, biiiig plus.

Coming to the nitty gritties, there’s no late fees, no annual fees, no international fees and no over-limit fees. Customer support can easily be contacted via the Messages app.

But wait, there’s more. The card, isn’t merely a virtual card. Putting its hardware prowess to use, Apple has designed a sensational looking titanium credit card, that you get when you sign up for Apple card.  There’s no card number, no CVV code, no expiration date and no signature on the card. You have to use the Wallet app to get that information. Physical transactions are eligible to 1 percent in daily cash.

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