The Apple Card, the company's credit card announced at its services event last spring, will start accepting applications in August, the company confirmed in its third quarter for the third quarter of the quarter.
"Thousands of Apple employees use the Apple Card every day in a beta test and we will start rolling out the Apple Card in August," said Apple CEO Tim Cook.
The Apple Card is supplied in both a digital and a physical, titanium card form. However, the Apple Card does not use a traditional 16-digit card number, CVV code or expiry number as a personal identification. Instead, these numbers are randomly generated during each transaction to keep purchases safe. The numbers are also generated on the device, with the company promising that Goldman Sachs, the creditor, cannot track and see where you have been shopping, what you have purchased or how much money you have spent.
Apple also offers incentives for money back rewards, such as 2 percent back on purchases with Apple Pay or 3 percent for purchases in the Apple Store. These aren't the best rewards out there compared to other credit cards, but it's a relatively handy card to get if you already have an iPhone and are planning to buy many more Apple products.
Apple did not say exactly when the Apple Card will be launched in August, but expects the update to appear in your Wallet app soon when applications are opened.