What you need to know
- New survey shows awareness for the Apple Card is remarkably high.
- This bodes were for the success of Apple's latest product.
- It will have to cross the hurdle of high customer satisfaction in the market.
The Apple Card is just rolling out on a limited basis to select users, but a new survey by J.D. Power shows that consumers know Apple's new product is coming. Awareness for the Apple Card is "remarkably high" and is paving the way for it to be a hit, says the firm.
J.D. Power also explains that the Apple Card has a big hurdle to clear; rewards. The credit card market has high satisfaction rates, which means consumers rarely flip flop between card providers. The main reason they do so has to do with better rewards programs — Apple Card's rewards are limited to daily cashback at 1, 2 or 3%.
Regardless, with awareness being as high as it is, the Apple brand, along with the ease of use — Apple Card is managed through the iPhone with a slick interface —could be enough to sway consumers to test it out.
This may set up the Apple Card to be a hit:
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