The Apple credit card designed primarily for mobile use is here.

Some iPhone users who requested a notification about Apple Card will get invites Tuesday to apply through Apple’s Wallet app. The company plans to expand sign-ups more broadly in the coming weeks. The card, announced in March in partnership with Goldman Sachs, is available only in the U.S.

What sets Apple Card apart from other cards is its reliance on the iPhone. Though customers can request a physical card for free, an iPhone is required to apply, check statements and pay balances.

“The fact that Apple Card lives on your iPhone lets you do things you simply couldn’t do before. Things that actually help you build a healthier financial life,” Apple says.

Cash back

Apple promises quick sign-ups and the elimination of most fees. Customers typically get 2% cash back when using Apple’s app to pay.

“Whether you’re grabbing coffee or reserving flights, Apple Card gives you Daily Cash on every purchase you make.1 And there are no limits on the amount you can get. It goes straight to your Apple Cash card in the Wallet app, so you can spend it with a tap. On anything you want,” Apple notes.

“Buy things in stores, on websites, and in apps. Or make a payment on your Apple Card. Or pay back a friend in Messages. Or send it straight to your bank account and watch it add up. The money on your Apple Cash card can be spent using your iPhone, iPad, Apple Watch, and Mac.”

Industry experts say financial benefits of card mirror many of those already out there for consumers.

Getting the cash

Here’s Apple’s breakdown on cash back:

  • 3%; Get 3% back on everything you buy from Apple, whether you buy it at an Apple Store,, the App Store, or iTunes. That includes games, in‑app purchases, and services like your Apple Music subscription and iCloud storage plan.
  • 2%: Get 2% back every time you buy something using Apple Pay. That’s in every category, with no limits. Imagine all the things you use a credit card for every day — at Target, Walgreens, Lyft. You’ll get 2% back on just about everything.
  • 1%: If you happen to come across a store, website, or app that doesn’t take Apple Pay yet, Apple Card still gives you 1% of your purchases back in the form of Daily Cash.

The app will offer tools to manage spending and suggest payment amounts based on past payments and spending. And cash back rewards return to customers through an Apple Cash account, which can be used for other purchases, credit card payments and transfers to traditional bank accounts.

Tracking spending

“When you want to see how much you’re spending, there’s no need to log in to a separate website or app. Your totals are laid out for you in the Wallet app, by week or by month,” Apple notes.

“Only it’s not just your totals. 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.”

Fraud protection

Apple also is touting its fraud protection.

“Every time you buy something, you get an instant notification. So you’ll be the first to know if something doesn’t seem right. You’ll also be notified of any unusual activity. Don’t recognize a charge? Just tap to let us know. That’s it. We’ll take it from there, and you won’t be liable for any fraudulent charges,” Apple says.

“Still have a question? There’s no need to call. And wait on hold. And listen to elevator music. You can get an answer 24/7 by texting.”

Goldman will be in charge of approving applications and monitoring transactions for fraud. Apple says it isn’t getting transaction data and has agreements that bar Goldman from using data for other purposes, such as advertising and marketing Goldman’s other services.

Learn more online.