Apple Card: a 'new kind of credit card created by Apple'

Apple has confirmed it is releasing its own credit card in August, after first revealing it at its services event earlier this year. Yeah, a credit card, from Apple.

Apple CEO Tim Cook said during Apple's recent 2019 third fiscal quarter earnings call: "Thousands of Apple employees are using the Apple Card every day in a beta test and we will begin to roll out the Apple Card in August". The new Apple Card will arrive in both a digital form, as well as a physical titanium card.

Where the new 'Apple Card' will do things differently is that it won't have a normal 16-digit number, CVV code, expiration date, or personal ID on it like a traditional credit card. Apple Card will generate these numbers on-device, with Apple teaming with Goldman Sachs, randomly each time at the time of transactions to keep purchases secure.

Apple is wanting to win customers over with cash back rewards, something that'll include a 2% back on purchases when paid with Apple Pay, or 3% for Apple Store purchases. Not bad, but really just for the huge iFans out there buying Apple stuff.

There is no firm release date for August for the Apple Card, but expect an exact release date from Apple soon.