It is not common for Apple to disclose user data or product performance, but the tech giant has broken tradition by sharing active user numbers for its Apple Card in a recent press release.
Apple revealed that the US-exclusive Apple Card now boasts over 12 million customers. Among them, 30 percent are actively engaged, making two or more payments monthly using the card.
Apple Card Family has also been quite popular, with over 1 million users sharing the card through Family Sharing. And out of those, 600,000 have set up as co-owners, building credit together.
Since its debut in 2019, Apple Card, in partnership with Goldman Sachs, has provided users with a straightforward credit card experience without hidden fees and complemented by the rewarding Daily Cash cashback system. In just the past year, customers collectively earned a remarkable sum, surpassing $1 billion in Daily Cash rewards.
Jennifer Bailey, Apple’s Vice President of Apple Pay and Apple Wallet, expressed her satisfaction, stating:
We designed Apple Card with users’ financial health in mind, and it’s rewarding to see our more than 12 million customers using its features to make healthier financial decisions.
Bill Johnson, Goldman Sachs’s CEO of Enterprise Partnerships in Platform Solutions, added:
We are committed to continuing to deliver an excellent experience for Apple Card customers.
This commitment from Goldman Sachs contradicts recent rumors suggesting that Apple’s partnership with the bank might be coming to an end and that there might already be another partner in play. As of now, it appears that such a change in partnership is not the case.
In a bid to attract even more users to its Apple Card project, Apple has recently boosted the interest rate for the savings accounts. Apple Card users received notifications stating that their funds in the savings account will now earn interest at a rate of 4.5%. Notably, this marks the second increase within the same month.
