How Apple's new credit card measures up with Gen Z
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With its new credit card Apple is betting that younger consumers will value convenience and privacy over generous cash rewards.
The so-called Apple Card is in many ways very different from standard credit cards. It does not contain a credit card number, expiration date or CVV security code, which helps protect against theft. In addition, Apple Pay’s face and touch ID security features are also embedded in the card. Apple execs, who announced the card this week, are also touting no late fees and lower interest rates.
To use the card, which rolls out this summer, consumers can tap into their iPhone’s Apple Wallet app. The card is meant to be used as a payment method with Apple Pay at physical stores, online or in apps. The card will also have a titanium physical version. Apple partnered with Goldman Sachs on the card.
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