web desk:Samsung has unveiled its new Galaxy Credit Card in the United States, offering customers cashback rewards and a range of exclusive benefits on eligible purchases.

According to foreign media reports, the South Korean tech giant has partnered with Visa and Barclays US Consumer Bank to introduce the card. The Galaxy Credit Card will be available in both physical metal and virtual formats.

Applications for the card will open on July 22 through Samsung's website and retail stores across the United States. New cardholders who spend $2,000 within the first 90 days of opening their account will receive a $200 welcome bonus.

The card offers 5% cashback on Samsung purchases, 3% cashback on payments made through Samsung Wallet, 2% cashback on select streaming services and 1% cashback on all other eligible purchases.

In addition, cardholders will receive a 20% discount on Samsung VIP Advantage Membership and 5% cashback on the purchase or renewal of the membership.

Samsung introduced the new credit card more than seven years after Apple launched the Apple Card, a move that is expected to intensify competition between the two technology companies in the financial services sector as well.