Later this month, Apple is expected to launch Apple Card for all iPhone users. Bloomberg is out with a new report today that provides a bit more detail about this card. For starters, Apple will be offering a dedicated app for iPad users allowing them to sign up and manage Apple Card.

iPhone users will be able to use the Wallet app in iOS 12.4 to sign up for Apple Card. However, since the app is not available on the iPad, Apple will be offering a dedicated app for iPad users.

Secondly, Apple and Goldman Sachs will be offering separate financing plans for certain purchases done through Apple Card. Users would also have the option to carry a revolving balance. At the moment, it is unclear on what purchases Apple and Goldman Sachs will offer these financing plans. The minimum amount due for such purchases will not be included in any interest charges.

The launch of the Apple Card has also led Apple to drop its rewards program with Barclays. The latter used to offer an Apple-branded card which would provide $50 Apple gift card to new customers along with three points on every dollar spent on Apple product. However, this offer has now been discontinued by Barclays ahead of the launch of the Apple Card.

Apple has partnered with Goldman Sachs for Apple Card where it would offer eligible iPhone customers a free credit card without any fees. Users would also get 3% cash back on Apple products, 2% on Apple Cash transactions, and 1% on all other transactions. Unlike other credit cards, Apple would actively encourage Apple Card users to pay off their bills to reduce interest charges. It would also not charge any kind of fees for late payment or interest.

If you want to know more about Apple Card, make sure to read our detailed FAQ about it.