Apple launches own credit card tied to iPhone

National
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Apple CEO Tim Cook speaks at the Steve Jobs Theater during an event to announce new products Monday, March. 25, 2019, in Cupertino, Calif. (AP Photo/Tony Avelar)

Apple is launching its own credit card, called Apple Card, that can be used anywhere Apple Pay is accepted.

Apple says the card will make it easier to see what merchants charged you. It uses Apple Maps to show users where they spend their money. This is in contrast to the sometimes-confusing alphabet soup people can see on their credit card statements.

Apple unveiled the card at an event Monday at its headquarters in Cupertino, California. The company is emphasizing privacy and says it won’t know what you bought or where.

The card will live in the wallet section of the iPhone, though customers will also get a physical card made of titanium.

It will include a rewards program of 2 percent back on all transactions. Apple says the card has no late fees, annual fees or fees for going over the credit limit. It’s a Mastercard issued by Goldman Sachs.

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