Apple announces Apple Card credit card

[uk666]

Apple announces Apple Card credit card

Apple is launching a credit card which it says will offer "clearer and more compelling" rewards than rivals.

The US technology giant also said the Apple Card, built into its Apple Wallet app, will also providing "a new level of privacy and security".

It claimed it would build on the success of its Apple Pay offering, allowing customers to manage the device on their iPhone.

Apple launched the card - a partnership with Mastercard and Goldman Sachs - at an event showcasing a series of new services at a time when its wider business is under pressure amid slowing phone sales.

The new card will be available from the summer in the US and will see Apple offer 2% cashback for all purchases using the Apple Card with Apple Pay, rising to 3% when purchases are for Apple products or services.

Apple also said there would be no fees associated with the card, though late or missed payments would result in additional interest being added towards customers' balances.

The company added that customers could sign up for the new card in minutes to be used in stores, apps or online worldwide.