The company announced Apple Card users could automatically deposit cash-back rewards into a high-yield savings account.
On Thursday, Apple announced it would start allowing Apple Card users to automatically deposit Daily Cash, which is what Apple calls its cash-back rewards program, into a high-yield savings account from Goldman Sachs.
"Savings enables Apple Card users to grow their Daily Cash rewards over time, while also saving for the future," said Apple executive Jennifer Bailey in a statement announcing the savings product.
The big tech company first announced its credit card with Goldman Sachs in March 2019, advertising it as "created by Apple, not a bank," despite Goldman Sachs, a bank, reportedly spending about $300 million on the card's development.
As of the latest estimates from 2021, 6.4 million people use Apple's card, a significantly smaller number than credit card giants Mastercard and Visa.