Apple announced today that its users have earned over $1 billion in daily cash from their Apple Card expenses last year. The tech giant also revealed that the number of Apple Card users has surpassed 12 million. The Apple Card, which was introduced to the market in 2019, is exclusively available in the United States.
The company also disclosed that nearly 30% of Apple Card customers make two or more monthly payments. Furthermore, over 1 million users share their card through the Family Sharing feature, and nearly 600,000 users build credit together with their spouses, partners, or other adults.
“We designed Apple Card with the financial well-being of users in mind, and it’s satisfying to see that our more than 12 million customers are utilizing its features to make healthier financial decisions,” said Jennifer Bailey, Apple’s Vice President of Apple Pay and Apple Wallet. “We are proud of what we have achieved for Apple Card users in just five years. As we look to the coming year and the future, we are excited to continue innovating and investing in the award-winning Apple Card experience, as well as providing users with new tools and features to help them lead healthier financial lives.”
In April of last year, Apple introduced the Apple Card savings account with a high yield offered by Goldman Sachs, and within a few months, it accumulated over $10 billion in deposits. Apple reports that the vast majority of users now automatically deposit their daily cash into their savings account, and nearly two-thirds of users deposit additional funds from their linked bank accounts. Currently, the savings account offers an annual percentage yield (APY) of 4.50%. At launch, the savings account offered an interest rate of 4.15%.
Apple also revealed that over 200,000 users have gained approval for the Apple Card after enrolling in the Path to Apple Card program, which provides personalized steps to help users obtain approval for the Apple Card in the future after an initial rejection.
FAQ
1. What are the latest achievements of Apple Card?
Apple announced that its users have earned over $1 billion in daily cash from their Apple Card expenses last year. The number of Apple Card users has surpassed 12 million.
2. Where is Apple Card available?
The Apple Card is exclusively available in the United States.
3. How many customers make monthly payments with Apple Card?
Nearly 30% of Apple Card customers make two or more monthly payments.
4. What features does Apple Card offer through Family Sharing?
Over 1 million users share their card through the Family Sharing feature.
5. How many users are building credit together with others?
Nearly 600,000 users are building credit together with their spouses, partners, or other adults.
6. Does Apple plan to continue innovating with Apple Card?
Apple plans to continue innovating and investing in the Apple Card experience, as well as providing users with new tools and features to help them lead healthier financial lives.
7. What was the interest rate on the Apple Card savings account at launch?
At launch, the savings account offered an interest rate of 4.15%.
8. What is the current interest rate on the Apple Card savings account?
Currently, the savings account offers an annual percentage yield (APY) of 4.50%.
9. Does Apple offer a program to assist in getting approval for the Apple Card?
Yes, Apple offers the Path to Apple Card program, which provides personalized steps to help users obtain approval for the Apple Card in the future after an initial rejection.
Definitions:
– Apple Card: A credit card issued by Apple Inc.
– Apple Pay: A mobile payment service offered by Apple Inc.
– Apple Wallet: An application on Apple devices used for storing payment cards and other documents.
Suggested related links:
– Official Apple Card website
– Information about Apple Pay
– About Apple Wallet
The source of the article is from the blog toumai.es