Apple is positioning Apple Card as a credit card by a company that doesn’t just want to get you hooked to the interest needle and drain you… not dry… but to the edge of a very long, very draining life.

To that end, it’s partnering not with any long-established, long horrible bank, but with a new bank, that admittedly has a pretty horrible history all its own, but is kinda like Cingular was when the iPhone first launched — just desperate enough to let Apple do pretty much whatever Apple wants to do.

It's virtual. It's titanium (!), it's rewarding, it's helpful, it's U.S. only, and it's still a credit card... with all the convenience and grotesque usury that comes with that business.

Here's what you need to know.

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