Apple introduced the Apple Card on March 25, rewarding purchases with daily cash-backs. It was considered yet another bold and interesting idea from the Cupertino-based company that is expanding more and more into services. However, this is not the first time the iPhone-maker considered an Apple-branded credit card. It turns out in 2004 Steve Jobs wanted to do the same.
According to former Apple creative director Ken Segall, Jobs was working on an iTunes credit card. Spending money using said iTunes credit card would have been rewarded with free music, in an era when Apple was pushing towards music with iTunes and the iPod.
Every purchase would have resulted in earning iPoints, which could have been used to purchase free music on iTunes. Just like with the Apple Card, the original iTunes credit card would have happened in partnership with Mastercard, though it never came to fruition as Apple was not able to negotiate the terms it wanted.
The Apple Card will be available in the U.S. later this year, and will bring rewards of 1% cash-back for purchases with the Apple Card, 2% with Apple Pay, and 3% cash-back when purchasing hardware products or services from Apple.
You can find a couple of example ads Apple had in mind below, and you can read more at the source link below.