During its event at Steve Jobs Theater this afternoon, Apple announced “Apple Card.” The company is calling this “a new kind of credit card crated by Apple, not a bank.” Of course, Apple has partnered with Goldman Sachs to create the card, so it’s not entirely bank-free.

Even though it partnered with a traditional bank, Apple is still doing some interesting things with Apple Card. Here are some tidbits that you might have missed during today’s event.

Apple Card + Wallet

One of the most interesting things about Apple Card is how it integrates with the Wallet app on iOS. Apple says that its goal is to help you learn more about your spending, with less effort. For instance, the company is using a combination of machine learning and location services to help make card statements more readable.

The Wallet app also includes new design features to accommodate Apple Card. For instance, you tap on individual transactions to view details like price, Daily Cash, category, and the location of the transaction on a map.

Apple is also taking the ring system from the Apple Watch and using it to help mange your balance and interest. There’s an interactive ring showing your total Apple Card balance. You can then scroll through that ring to see how much interest you’ll be charged depending on how much of your balance you pay down.

The Wallet app will also offer suggestions to help avoid accumulating unnecessary interest. You can also set automatic payments on a weekly or biweekly schedule to help pay down your balance in correlation with paydays.

Apple explains:

The new features of Wallet also make it easier to track your spending by category. Each category is assigned a color, and you can view your spending breakdown on a daily, weekly, or monthly basis. This can make it easier to see what you’re spending the most on, and where you might want to cut back.

Apple Card also offers up smart payment suggestions that encourage you to pay a little more than you normally would, and help you pay off your balance faster.

Here’s a look at how Apple Card integrates with Wallet on iOS:

‘Daily Cash’

One of the most interesting things about Apple Card is its rewards platform. Apple says that customers will get “Daily Cash” when they shop with Apple Card. This means that cash back is credited directly to your Apple Pay Cash card on a daily basis.

From there, you can spend the Apple Pay Cash like a normal card, use it to pay down your debt, or transfer it directly to your bank.

Here are the cash back details:

  • Get 3% back on everything you buy from Apple, whether you buy it at an Apple Store, apple.com, the App Store, or iTunes. That includes games, in‑app purchases, and services like your Apple Music subscription and iCloud storage plan.
  • Get 2% back every time you buy something using Apple Pay. That’s in every category, with no limits. Imagine all the things you use a credit card for every day — at Target, Walgreens, Lyft. You’ll get 2% back on just about everything.
  • If you happen to come across a store, website, or app that doesn’t take Apple Pay yet, Apple Card still gives you 1% of your purchases back in the form of Daily Cash.

While these cash back numbers aren’t industry-defining, they are notable for a card with a $0 annual fee. 3 percent cash back from Apple is especially notable when you consider recurring subscriptions such as iCloud storage, App Store purchases, and Apple Music.

Fraud detection

If Apple detects a potentially fraudulent charge, it will send you a push notification immediately. From there, you can report a problem or mark the transaction as “OK.”

Apple Card also integrates with Apple Business Chat. This means you can easily communicate with support directly through the Messages app, so if you have to report a fraud issue, you can do so through text:

Apple Card fees

Apple says there are “no fees, not even the hidden ones” with Apple Card, but that doesn’t account for interest. While it’s true there are no annual fees or late fees, you still have to pay interest. Apple says variable annual percentage yields will range from 13.24 percent to 24.24 percent. If you miss a payment, you won’t pay a late fee, but interest will accumulate at a quicker rate.

Still have a question? There’s no need to call. And wait on hold. And listen to elevator music. You can get an answer 24/7 by texting.

Here’s how Apple explains it:

Apple Card design

It wouldn’t be an Apple initiative if there wasn’t a focus on physical design. The Apple Card features a titanium, laser-etched design. Unlike traditional cards, there is no card number, expiration date, or security code on the card itself. Instead, all of that information is housed within the Wallet app:

Apple Card availability

You can sign up to learn more about Apple Card on Apple’s website. The company says it will email and send push notifications when new information is available.

Apple Card will be available this summer and you’ll be able to apply directly in the Wallet app.