Apple, Goldman Sachs start issuing Apple Cards to consumers

Apple's credit card will come with a few very specific rules

You can apply in Apple Wallet and if approved by Goldman Sachs (a process that takes seconds), it's instantly available for use.

First unveiled in March, Apple had promised a Summer release in the U.S. for the new card, which is built into the Apple Wallet app on iPhones. Well, that time has come, as TechCrunch reports the first users who filled out the "Notify Me" form on the Apple website have started to receive invites today.

Apple began to roll out its entry into the credit card business, Apple Card, on Tuesday, following comments from CEO Tim Cook last month. In partnership with Goldman Sachs, Apple is positioning Apple Card as the kind of tech-native, user-friendly, hassle- and fee-free card that you can't get anywhere else - at least not with the same level of Apple device integration.

Prior to the physical card arriving, you can use Apple Card via Apple Pay to make purchases in retail stores or online.

Note that this includes not only your "Required device" (as noted above), but also any and all "eligible devices" so even if your iPhone operating system is in pristine condition, if you have an iPod touch that you've jailbroken, you'll want to keep your Apple Card as far away from that as possible. Uber offers 4% on dining. It has the usual Apple look: It's white, made of titanium and hasApple's logo on the top left.

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Though numerous rules are what you'd expect to find in the fine print of any credit card, there are some notable parts of the agreement.

The card on the screen has a mechanism that gives you a sort of live heat map of your spending. They get 2 percent back when using the card digitally on any purchases, and 1 percent back when using the physical card on any purchases.

The cashback is stored as "Daily cash" in your wallet app, and you can use it to pay off your credit card bill, or transfer it to friends or bank.

Interestingly enough, you'll have three numbers associated with your Apple Card. A payments wheel shows how much interest will be charged if you only pay part of the balance. There are no annual, late, worldwide or over-the-limit fees while interest rates are "among the lowest in the industry" claims Apple. That's slightly lower than what Apple initially advertised, pushed down by the Fed's rate cut.

Apple Card also beefs up the security options in a time of numerous breaches.

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