With the looming launch of Apple’s new credit card system, a few details stand out in the tech giant’s terms and conditions regarding the use of the service. While most of the fine print in the customer agreement is standard fare for any credit card, there are a few alarming statements that are specific to this particular card. The comments demonstrate the distances that Apple is willing to go to maintain control over their devices.
Jailbreaking is Forbidden
One of the most glaring clauses in the agreement is the one that forbids jailbreaking completely. Jailbreaking is the colloquial term used for removing the Apple restrictions on the handset and being able to install custom apps and services on it. In some cases, it may be the only way to get specific applications to run on the phone. The user agreement for the credit card states unequivocally that jailbreaking a device linked to the card will allow Apple to close the credit card account immediately.
No Cryptocurrency Allowed
Another of the questionable clauses the agreement contains is that any purchase of cryptocurrency using the card is strictly forbidden. Apple and Goldman-Sachs (the issuer of the card) consider cryptocurrency a cash proxy, and because of this distinction, purchasing them is blocked. Most credit cards also prefer to prevent the purchase of “cash equivalents” to limit abuse of rewards systems, but this is the first time that a specific cash equivalent has been expressly forbidden.
Launch Expected in August
For users who aren’t bothered by the stipulations, the Apple Card and its associated application are slated to be rolled out sometime in August. Apple CEO Tim Cook has stated that Apple employees have been testing the app for some time, and it seems to conform to all expected operational parameters. Users intending to get in on the action need to have an Apple account “in good standing” as well as two-factor-authentication turned on for the account. The system only works on Apple devices, so Android users are excluded from using it.