APPLE

The number of Apple Card users has exceeded 12 million, and $1 billion in cashback was paid out last year.

For the first time, Apple is publishing the numbers of active users of the Apple Card, which is available exclusively in the United States. The company today announced that the Apple Card has more than 12 million customers. 30 percent of these people actively use the card, making two or more payments per month.

Apple Card Family has also seen widespread adoption, with more than 1 million users sharing the card through Family Sharing and 600,000 becoming co-owners, receiving equal credit.

Apple Card first debuted in 2019 in partnership with Goldman Sachs. It offers a simple credit card experience with no hidden fees and a Daily Cash Cashback rewards system. Last year alone, customers earned more than $1 billion in Daily Cash rewards.

Apple Vice President Jennifer Bailey said in a statement that Apple is “excited to continue innovating and investing in the award-winning Apple Card system” used by 12 million customers. Apple Card for making healthier financial decisions.

In the same press release, Goldman Sachs said, “We are committed to continuing to provide a great experience for Apple Card customers.” Behind the scenes, however, the partnership seems less rosy. Apple is believed to be pursuing a bid to replace Goldman Sachs in the next year or so, as Goldman Sachs continues all of its consumer businesses after suffering significant losses.

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