Samsung Launches Galaxy Credit Card in US to Take on Apple Card: Here's All You Need to Know

Samsung has officially entered the US consumer credit market with the launch of its first-ever Galaxy-branded credit card, marking a significant expansion beyond smartphones and consumer electronics. Issued by Barclays on the Visa payment network, the Galaxy Card places Samsung in direct competition with Apple's financial services business, which began with the launch of the Apple Card in 2019.

The move represents another step in the growing rivalry between the world's two largest smartphone makers, extending their competition into digital payments and consumer finance.

Samsung's First Credit Card Arrives in the US

Samsung Electronics America announced the launch of the Samsung Galaxy Card on Tuesday, with online applications opening to the general public on Wednesday. Eligible customers who received early access were able to apply immediately.

The company says the new card is designed to reward users for their everyday spending while integrating seamlessly with Samsung's ecosystem.

Chai Won-cheol, head of the digital wallet team within the mobile experience business at Samsung Electronics, explained the company's vision behind the product.

"Samsung Galaxy Card offers users a new way to be rewarded every time you pay. Users are busy, they need a credit card that simplifies their life and offers them real value -- Samsung Galaxy Card does both."

What Rewards Does the Samsung Galaxy Card Offer?

Samsung is positioning the Galaxy Card as a cashback-focused credit card with no annual fee.

Cardholders receive 5 per cent cash rewards on eligible purchases made directly through Samsung. Purchases completed using Samsung Wallet earn 3 per cent cashback.

The card also offers 2 per cent cashback on eligible streaming subscriptions, including Netflix, Disney+ and Spotify. All other eligible purchases earn 1 per cent cashback.

To encourage early adoption, new customers can earn an additional USD 200 in cash rewards after spending USD 2,000 within the first 90 days of opening the account.

The card is available instantly in digital form for online purchases and is also offered as a premium physical metal card featuring Samsung's black logo.

Built Around Samsung Wallet

Samsung has integrated the Galaxy Card directly into Samsung Wallet, allowing users to store the credit card alongside compatible payment cards, digital IDs, boarding passes and digital keys.

The company says all wallet activity is protected by its proprietary Knox security platform, which is already used across Samsung's ecosystem to secure devices and digital services.

Barclays Partnership Powers the Card

The Galaxy Card is issued by Barclays and operates on the Visa payment network.

Commenting on the partnership, Denny Nealon, Chief Executive Officer of Barclays US Consumer Bank, said:

"Partnering with Samsung is a strong example of Barclays partner-first strategy and the innovation we're bringing to the market with some of the world's most recognized brands."

How Does It Compare With Apple's Credit Card?

Samsung's entry mirrors Apple's strategy of combining financial products with its hardware and digital ecosystem.

Apple launched the Apple Card in 2019 in partnership with Goldman Sachs and Mastercard, helping expand its presence in financial services. However, Goldman Sachs decided to exit the retail consumer banking business and, in January, agreed to transfer the Apple Card portfolio to JPMorgan Chase. The transition is expected to take around 24 months to complete.

Samsung's arrival in the market comes as Apple is restructuring its own credit card partnership, potentially giving the South Korean technology giant an opportunity to strengthen its presence in the rapidly growing digital payments and consumer finance sector.

(With inputs from ANI)