During Apple’s earnings call yesterday, Tim Cook let the world know that the Apple Card will be coming sometime in August. If you haven’t noticed, August starts tomorrow, so this brand new Apple endeavor is coming soon no matter how far into the month they hold out.
Apple has three new services coming between now and the Fall (Apple TV+ and Apple Arcade being the other two), so Mr Cook dropping that little bit of knowledge was simply priming Wall Street’s pump by teasing the first in line. It worked, as the stock price was up yesterday and again today. Apple’s existing services revenue was up last quarter, which is already good news with more high profile additions coming soon.
It shouldn’t come as any surprise that the Apple Card is the first to land. Apple has several new devices coming soon, including a new iPhone and likely a new Watch and refreshed iPads. There are also rumors of a new 16″ Macbook Pro on the way before the end of the year. There is also back to school to be considered, as many college students don’t start back until late August to after Labor Day. The Apple Card’s 3% cash back reward for Apple purchases is the PERFECT way to get loyal customers on board quickly. What better way to get a little back from a purchase or upgrade than 3% that day in Apple Cash?
As part of my work on this site, I buy most new Apple devices other than Macs for review. Thanks to that, the Apple Card is pretty much a no-brainer for me. A 3% reward on all Apple purchases is nothing to sneeze at, especially if it works with the iPhone Upgrade Plan that I have used the last few years. It’s definitely better than I get back in rewards from my current card. My Apple and other electronics purchases may be all I really use it for, but even if that’s so, it will be worth it.
I know I can’t be alone. Who else out there will be signing up for the Apple Card on day one?