Apple Announces New Credit Card: I give them credit, but is this release even necessary?

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In this Monday, March 25, 2019, file photo, Jennifer Bailey, vice president of Apple Pay, speaks about the Apple Card at the Steve Jobs Theater during an event to announce new products in Cupertino, Calif. Apple is hoping a credit card will entice more iPhone owners to use Apple Pay. (AP Photo/Tony Avelar, File)

In this Monday, March 25, 2019, file photo, Jennifer Bailey, vice president of Apple Pay, speaks about the Apple Card at the Steve Jobs Theater during an event to announce new products in Cupertino, Calif. Apple is hoping a credit card will entice more iPhone owners to use Apple Pay. (AP Photo/Tony Avelar, File)

Apple announced last Monday that coming this summer, they will be releasing the all new Apple Card, the tech giant’s first credit card which will connect to Apple Pay on your phone.

The card is a partnership between Apple and Goldman Sachs, and it is being marketed for its “simplicity, transparency and privacy” according to Apple’s website. Most notably, the card offers two percent cash-back and connects to the Wallet app on your phone to let you track your spending habits.

“For every purchase you make, you get Daily Cash,” Apple’s website reads. “And it really is cash. So you can spend it however you want, right from your iPhone. Have a question? Just text. It’s that simple.”

The new Apple Card is sleek, silver and minimalistic; it doesn’t have any numbers on it at all. There’s no card number, no CVV and no expiration date, which makes it harder for your information to be stolen. If you lose the card, you can freeze it and order a new one from your phone.

The Wallet app will break your transactions into different categories, allowing you to see how much you spend on certain things like food, entertainment and general shopping. It’s unique because you don’t need to download a separate app to track your expenses; Apple does it for you.

“Your totals are laid out for you in the Wallet app, by week or by month,” the website reads. “Apple Card makes it easy to spot trends in your spending, so you can decide if you want to change them. See a lot of orange? That’s things like lunch and coffee. Green? Must be those tickets to Miami.”

There is already speculation that the card is a ploy to gain a better understanding of what consumers are buying, as Apple will be able to collect data through the card. The website says this information won’t be sold to third parties, but it doesn’t say that they won’t do anything with it.

While the idea is cool, my biggest question: Why? Apple is trying to diversify itself, but does it really need to? The credit card announcement comes at the same time as Apple’s announcements of a streaming service, news service and gaming subscription. To be honest, I want my laptop and phone to be made by a company that makes laptops and phones. How far does Apple plan to go? Am I going to wake up one morning to an Apple grocery store, mail delivery service and clothing brand?

It feels like every company is trying to do everything these days; already, so many have made their own streaming services, and frankly, I don’t have the money to pay $5 a month for 10 different subscriptions. Maybe I’ve read “1984” too many times, but I don’t want one company to be responsible for half of my life, either.

While the tie-in with the Wallet app is a cool feature, you can do that yourself with a variety of other services, and a variety of cards offer better cashback rates. It’s cool, but it mostly just feels unnecessary and like another ploy for Apple to get money out of all of us. Literally.


Courtney Gavitt is a staff writer for The Daily Campus. She can be reached via email at courtney.gavitt@uconn.edu.

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