Tim Cook, the current executive director of Apple Inc., announced on Tuesday, July 30, the company’s next launch: the Apple Card, an innovative credit card. Cook has announced that, thanks to employees who have been testing the beta version, the launch may be advanced to August, although no exact date was provided.

But how does it work? What is special about Apple card is that it is a virtual and physical titanium card that can be used for regular purchases and for Apple Pay. The complementary application has a special design that makes it easy for the user to see interest charges, expenses and returns. Another of this new card’s strengths is that it does not charge interests of any kind, such as international or annual fees or late fees.

In addition, the “Daily Cash” feature has been added, where we get a refund, often known as ‘cashback’ of 1%, 2% or 3% depending on whether we buy in physical, virtual or Apple purchases (Apple store, iTunes or subscriptions)