【Taiwan】

On its new Apple Card website,Taiwan Apple shared more details about its newest payment method: a credit card backed by Goldman Sachs and on the MasterCard network.

The digital (and accompanying physical titanium card) card was introduced Monday at Apple's event to showcase new video streaming, gaming, and news services. The new card that's used through the iPhone's Wallet app won't arrive in the U.S. until summer, but that didn't stop Apple execs from hyping the card.

SEE ALSO: Apple Card is a digital credit card, but there's also an IRL titanium version

But to get any of the details about the card, you have to keep scrolling on the new Apple Card site to find anything. In the fine-print footnotes, that "lower interest rate" discussed at the event was finally specified. The site states, "Variable APRs range from 13.24% to 24.24% based on creditworthiness. Rates as of March 2019."

Original image has been replaced. Credit: Mashable

Credit Karmareported the average annual percentage rate, or APR, for all credit cards from banks in 2017 was 12.54 percent. At the end of 2018 it was just above 16 percent, according to Nerd Wallet. Those averages are based on Federal Reserve data. The latest Fed average for all credit card plans throughout all of 2018 was 14.22 percent, just about two points higher than Apple's lowest rate.

Interest rates fluctuate based on lending rates, so Apple may change its APR -- that's why it's listed as variable.

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

Now it makes sense why those specific rates weren't splashed on the Apple theater screen like other perks about the card, like no international fees and 2 percent cash back on Apple Pay purchases. A 24 percent APR is considered pretty high and certainly doesn't qualify as "low." The other end of the range is on par with other credit cards.

Here's a bit more disappointment about the card: it won't be contactless, although we didn't really think it would be.

This Tweet is currently unavailable. It might be loading or has been removed.

As CreditCards.com analyst Ted Rossman pointed out, U.S. Bank offers a card with 3 percent cash back for "mobile wallet spending," so that's a better reward than Apple's own card offers for Apple Pay transactions.

It just goes to show: You have to read the fine print.

UPDATE: March 25, 2019, 10 p.m. PDT We added the latest Federal Reserve credit card plan average for 2018 and an explanation about how these rates fluctuate.

---

Featured Video For You

---

Here are the 5 things you need to know from Apple Event 2019

---

Topics Apple

• Games
• Science
• Social Good
• Tech
• Digital Culture
• Deals
• Shopping
• Entertainment

• Best earbuds deal: Save 20% on Soundcore Sport X20 by Anker
• TikTok wants me to host a dinner party. Is that an actual recession indicator?
• Best streaming deal: Get a like
• NYT Connections hints and answers for April 12: Tips to solve 'Connections' #671.
• I'm a college professor. My advice to young people who feel hooked on tech
• 'The Last of Us' Season 2, episode 1: Tommy and Maria have a son?
• Blue Origin launch livestream: See Katy Perry, Gayle King and others head toward space
• Best LG TV deal: LG UT70 4K drops to $349 at Best Buy
• The cicadas aren't invading the U.S.
• Lenovo Ideapad Slim 3 deal: Save $210 at Best Buy

• WeWork raises $4.4 *billion* to continue its worldwide expansion
• Taylor Swift's new song just let us know the '90s are back
• Even more ideas for 'Kevin Can Wait' season 2 by me, a genius TV executive
• 'Game of Thrones' soundtrack provides finale clues
• 'Game of Thrones' Instagram of the Hound and Tormund singing will make your day
• Hackers offered $500,000 for WhatsApp and Signal exploits
• Amazon is lowering prices at Whole Foods starting this Monday
• Yuck, the GOP compared 'Legend of Zelda' to their tax plan — and failed so hard
• Arya Stark's storyline on 'Game of Thrones' has always been a tragedy
• Local paper picks the worst possible photo to go under murder story

• Analyzing Graphics Card Pricing: October 2018
• Best Amazon deals of the day: Garmin vívoactive 5, Sony WF
• Alienware M16 Gaming Laptop deal: Save $560
• TikTok creators are sharing their 'recession hacks'
• Best headphone deal: Take 22% off the Sonos Ace at Amazon
• The internet is talking like Kevin from 'The Office' now
• NYT mini crossword answers for April 14, 2025
• 'The Last of Us' Season 2, episode 1: Why 'Curtis and Viper' is important
• NYT mini crossword answers for May 9, 2025
• How to unblock Xnxx for free

• Climate change turns large green sea turtle population female
• The internet is talking like Kevin from 'The Office' now
• Tech CEO promised AI but hired human workers, FBI claims
• Best JBL deal: Save $80 on JBL Xtreme 4 portable speaker
• Classified Zuma spacecraft may have failed after SpaceX launch
• Lenovo Ideapad Slim 3 deal: Save $210 at Best Buy
• Razer Basilisk V3 deal: Get $30 off at Best Buy
• Best Lego set deals: Animal Crossing, Botanicals, and more sets on sale
• Against Fear
• Best JBL deal: Save $80 on JBL Xtreme 4 portable speaker