Apple Card Turns 5, Still U.S. Only

Yesterday marked the fifth anniversary of the Apple Card, which saw an official release on August 20, 2019. The ‌Apple Card‌ is Apple's first and only Apple-branded credit card, made available in partnership with Goldman Sachs.

At launch, the ‌Apple Card‌ was only available in the United States, and today, five years later, it is still limited to the United States and has not expanded to additional countries. Just a month after the ‌Apple Card‌'s debut, Apple CEO Tim Cook said that Apple was interested in expanding the ‌Apple Card‌ to multiple countries, but that it would take time due to various regulations around the world.

There have been rumors of ‌Apple Card‌ talks in Europe, and Apple trademarked ‌Apple Card‌ in Europe, Hong Kong, and Canada, but no deals have emerged. ‌Apple Card‌ expanding to additional countries is even more up in the air with Apple's upcoming decoupling from Goldman Sachs.

Apple is planning to end its partnership with Goldman Sachs in 2025, and it will need to find a new ‌Apple Card‌ provider in the United States. Apple and Goldman Sachs ran into trouble with customer service issues for disputed ‌Apple Card‌ transactions, as well as complaints with wait times for Apple Savings account withdrawals.

Goldman Sachs even ended up being investigated by the U.S. Consumer Financial Protection Bureau because of customer complaints, which led to a souring of the bank's relationship with Apple. Goldman Sachs now plans to get out of consumer banking entirely.

The ‌Apple Card‌ is a no-fee credit card with no annual fees, no international fees, no fees for making a late payment, and no fees for exceeding a credit limit. There aren't consumer protections like one might get with an American Express card, but there is deep integration with the Wallet app for tracking spending.

Apple provides 1 percent Daily Cash back on all purchases, 2 percent for Apple Pay purchases, and 3 percent for ‌Apple Pay‌ purchases from the Apple Store. Daily Cash is sent to customers each day, hence the name.

Apple has not commented on the possibility of expanding ‌Apple Card‌ to additional countries in some time, and there is no word on whether that's still the plan.