Apple Card Expected To Launch For U.S. Market This Month

August 6, 2019 by Petar Markoski

Apple CardThere are millions of die-hard Apple users across the world who are eager to get their hands on anything that the brand releases.

Apple users in the United States will be very keen to know that the latest Apple product to hit the market is going to be a credit card.

Goldman Sachs recently partnered up with the tech giant to launch the company’s very own credit card.

However, this is no ordinary credit card as it comes with some unique features and some pretty strict rules. These stringent rules were revealed when the card’s customer agreement was recently published.

Though most of the rules are similar to what most credit cards use, there are quite a few rules that are unique to the Apple credit card. One of the more important ones is to prohibit users from jailbreaking their iPhones.

Apple

 

According to the agreement, any unauthorised modification to the iPhone will ensure that the device would not be able to access or manage the credit card. Modified iPhones are strictly prohibited from accessing the credit card and can result in the account being closed. This pretty much stops people from jailbreaking unless they want to risk their credit card use.

Though this may seem like a strike against jailbreakers, Apple has a very practical reason for this rule. This is mainly because the Apple credit cards are connected to iPhone usage. Unlike other credit cards, Apple cards give incentives for using the iPhone in transactions. A jailbroken iPhone can potential affect its ability to pay or disrupt the payment process.

No Cryptocurrencies Or Gambling

Apart from now permitting jailbreaking, Apple will not allow credit card users to deal with cryptocurrencies. The new agreement specifically states that users cannot use their credit card to buy cryptocurrencies. The rules also state that the Apple credit card cannot be used at online casino websites. This will be disappointing for a lot of Apple users who have gone accustomed to using their credit cards at online gambling websites as they like getting rewards on their cards.

There are a few more restrictions and they are mainly connected with being part of Apple’s software ecosystem. To use the Apple card, you need to have an Apple ID and an iCloud account that is in good standing. Additionally, two-factor authentication should be enabled on their account which is reasonable for security purposes.

Additionally, people who want to use the Apple card will need an iPhone or an iPad with a pass code. Now that the rules have been released, people can expect the new Apple credit card to come out within the new few weeks.

Petar Markoski

Petar is the finance guru, if you need a good investment this is the guy you go to! Working majority of his days in the finance sector as trader, he has gathered plenty of insight on binary options and the forex markets

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