Barclays customers are set to lose out on loads of freebies after Apple and Barclays cancel the joint reward scheme.
The move is reportedly a reaction to the launch of the Apple Card, which is expected to appear in the near future and affects all Barclaycard customers.
Barclays customers will miss out on $50 Apple gift cards as well as a reward system that offers new customers three points for every dollar spent on Apple products. Up until now, Barclaycard Apple Rewards cardholders had also been able to redeem the points for credit in the Apple store, with 2,500 points equaling $25 of credit that could be spent across Apple’s line.
The cancellation comes after CEO Tim Cook announced that the Apple Card could look forward to an initial rollout later this month. Apple has partnered up with Goldman Sachs to release the new credit card which will come with its own competitive reward scheme. The scheme will see the company offering 3% cash back for anything spent on Apple products.
Though customers will receive a physical copy of the card, the card itself is pretty minimalist and will, annoyingly, not feature any of the info needed for online banking. Rather, you’ll find this info on the digital card in your Apple Wallet, making the Apple Card an iPhone exclusive. According to software developer and Apple blogger Steve Moser, Apple does have plans to create an Apple Card management app for iPad. Moser discovered the hidden info in the Apple Card terms and conditions for iOS 13 beta 4. If this carries on to the full iOS release, Apple Card users can also anticipate managing the credit card on their tablet.
Meanwhile, according to reports by Bloomberg, Barclays is looking to fill the gap in its portfolio by teaming up with other major companies to create co-branded cards, including Uber and Jetblue.
The changes to the Barclaycard Visa with Apple Rewards apply to new customers only and are thankfully not expected to affect the rewards programme for existing cardholders.