Apple Announces 'Apple Card' Credit Card With Daily Rewards, Simplified Statements, and No Fees

[lartola]

I love Apple and many of it's products but I am really annoyed by how we in the UK always get the royal **** job when it comes to services. We are STILL waiting for Apple pay cash to launch here and I somehow think it never will launch and neither will Apple card. This is just taking the smeg something chronic and enough is enough. I know we in the UK are a small island and I know that American's look down their noses at us but we are still a nation that buys a lot of Apple products so it is about time we were treated as equals. I know that Trump wants America first but Tim Cook's America only approach with Apple is just a step too far!

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And you’re complaining? At least the UK is one of the few countries other than the US that get all of the new products other than iphones on launch day, and also one of the first to get the new services when Apple does decide to roll them out outside the US. Mexico is a much larger market than the UK, located right next door to the US, and yet we’re still missing a lot more products, features and services than the UK. It took more than a year to have the LTE apple watch available in Mexico while the UK was among the countries that got it at the same time as the US, we’re still waiting for Apple Pay and News after almost five years (now it seems to be pretty much a certainty that we won’t ever get them at all) while the UK got News at launch and apple pay within the first year after the US launch, we’re still missing lots of features on Apple Maps which UK got almost immediately after the USA, and none of our wireless carriers currently supports activating the new eSIM in the latest iphones, which many carriers in UK have supported for months now just like in the US. We’re right next to the US and Apple treats us like the Philippines or Indonesia on the other end of the world. Heck they even launched apple pay all the way in Kazakhstan, on the other side of the world, and we’re still waiting Mexico right next door.

I think you people in the UK need to look a bit more at what you do get from Apple and less at what you’re missing (which is actually very little compared to most other countries).

 

[dago5252]

Really Apple??? So you want to charge a premium and now ofer a credit card. I cannot see how Apple is thinking of putting people with no money in more debt. Apple has for sure made a u-turn.

Good luck keeping up

 

[brofkand]

Really Apple??? So you want to charge a premium and now ofer a credit card. I cannot see how Apple is thinking of putting people with no money in more debt. Apple has for sure made a u-turn.

Good luck keeping up

Apple has offered credit cards for a long time. This is just a repositioning of an Apple branded card as a "service" with a cool app. It's nothing new. Apple doesn't require anyone to go into debt to use their products or services. If someone has no money they should not be using Apple products. Apple does not produce anything that is necessary in life.

 

[Macalway]

They need a space program.

 

[AppleScruff1]

I'm waiting for Apple Condo, car, dental implants, and supermarket, where you can buy....Apples.

I can think of a dozen or so here who would line up for that.

 

[dburges]

So how do you buy something on a site like Amazon if there is no card number?

Well, I would use my Amazon card and get 5% cash back.

 

[theonekcrow]

A credit card. Tim Apple is Tim Apple. All these services (news, games, TV) are *****. Wake up. Like Facebook, the only way we’ll ever get anything better is to walk away.

Fixed!

 

[crcuilla]

What always blows my mind is why Americans use credit card. Its much easier to use debit. Why would you ever want to pay banks fees?

Debit cards are less secure for the consumer. Fewer protections against fraud.

 

[lartola]

Debit cards are less secure for the consumer. Fewer protections against fraud.

Among other things, if there is a fraudulent charge on your debit card then the money is pulled right out of your checking or savings account and it’s harder to get help from the bank to recover it. If the fraudulent charge occurs on a credit card, on the other hand, the money stolen is money that you’d be borrowing from the bank so the bank will be more readily available to help you cancel the transaction before you have to pay for it.

 

[Katieg-fm]

Will places accept a card with no numbers or signature? I doubt it

They accept tap. Most places you swipe your card yourself. How would they even know if my,bets were on there or not?

 

[FriendlyMackle]

“We needed a really innovative bank, so we chose.... Goldman Sachs?”

Sure, they helped cause the 2008 financial crisis and have no sole, but they’re really innovative and awesome!

Are you sure that they don't have any FISH? Or do you mean they are wearing bottomless shoes? LOL

 

[tivoboy]

3% back from Apple purchases that have been marked up 20-40%

And this, as they say IS THE RUB.

This is IMHO an attack by apple on merchants. The objective here is to try and increase the DIRECT spend WITH apple where apple get's 100% of the retail price.

Apple is fine giving an apple card user 3% back on apple purchases (even 2% back on other purchases) in order to get 10/20/40% MORE of the retail spend direct.

They are fine not having late fees (although, I doubt there will be NO recourse, they will probably just cut the user off after a time). They may have worked out a deal with Mastercard that MC changes VERY LITTLE in transaction fees for APPLE PURCHASES. At that point, it's a no brainer. Give people back some small % and probably NET BACK 2-3x that amount in margin.

Add to that, the % back DAILY get's added to apple pay cash card on your iphone. THAT device is mostly used for apple pay transactions at retailers - WHERE APPLE GETS A TRANSACTION fee per transaction. So, as usual they will have created another walled garden.

If you think about it, it's a great strategy.

 

[crcuilla]

brilliant. the credit card industry and banking generally are ripe for disruption. Bring it to Canada please.

This doesn't seem all that "disruptive". It's a decent start. Security is good. Software looks nice. But nothing Earth-shattering here.

 

[martyr]

This has Tim Cook written all over it. Financial services. Yuck. So much for Apple innovation.

I disagree with this. I’m not a fan of Tim Cook running Apple either, but I actually think that this is something Steve would have done, too. I think they’re in a good position here to be an even more integral part of our lives, while removing the complexity, inconvenience and insecurity of traditional credit cards.

Now, if they can also turn out a proper expandable Mac Pro, I might actually not curse their name at WWDC.

 

[Rocketman]

I see what they did there. Everyone was looking for Apple Car but they really released Apple Card. Bigger, bolder, not noisy like the secret lab used to misdirect your attention.

 

[Kai Wang]

This actually sounds really great. We'll just have to wait 5-10 years for the rest of the world to get it too lol

 

[jjk454ss]

I’ve seen hints at having to use Face/Touch ID when using the physical card, but nothing official. Is this true? The security aspect of this, is to me, the real big news. If banks start implementing this into all debit/credit cards this could go a long ways to cutting down on fraud.

 

[Tapiture]

Are you sure that they don't have any FISH? Or do you mean they are wearing bottomless shoes? LOL

Goldman Sachs lost their shirt and their shoes (sole) during financial crisis? That's rough. Hopefully that will knot happen again.

OOF don’t know how I didn’t catch that... Thanks for keeping me on my toes (hehe) but your soulful jokes made it worth it

 

[Baymowe335]

Apple’s sales outside the US continue to stall. Wonder how much of that is influenced by the fact pretty much every service Apple announces these days to compliement it’s premium/over priced hardware is exclusive to the US for months/years.

Wrong. The 3 year trend for Apple revenue growth outside the US is over 15% and was 23% in Japan y/y in 2018.

But don’t let facts get in the way of your false narrative.

Your term “continue” to stall indicates you see some trend. What have you based that upon? Q1 2019 numbers aren’t a trend. The trend has been double digit growth using 3 years of data.

 

[MisterSavage]

I’ve seen hints at having to use Face/Touch ID when using the physical card, but nothing official. Is this true? The security aspect of this, is to me, the real big news. If banks start implementing this into all debit/credit cards this could go a long ways to cutting down on fraud.

Chase lets you ditch a physical ATM card and use touch/Face ID along with your ATM pin.

https://www.chase.com/digital/atms/cardless-nfc

 

[tx4app]

Exactly. I’ve been looking for a true chip and PIN card in the US, but haven’t found one yet.

First Tech Credit Union offers a chip-and-pin MasterCard with PIN serving as the #1 priority (instead of signature) for the CVM. There's also State Department Federal Credit Union which offers the same but in a VISA. And, there are easy ways to become members of those institutions; i.e. you don't have to be an employee, etc.

 

[Rychiar]

Does it have a swipe strip? Cus I notice I still find many places like bars and gas stations don’t even use the chip yet

 

[cardfan]

Well, I would use my Amazon card and get 5% cash back.

I usually just load up gift cards for amazon. Chase ink/staples. Or grocery and Amex gold card along with 4x fuel points. Either beats amazons card but it’s fine in a pinch.

 

[applehammered]

Too bad I won't be able to use this at Costco. Costco only accepts any Visa cards.

Well, Costco in Canada takes only Mastercard, no more Visa or Amex.

 

[jjk454ss]

Chase lets you ditch a physical ATM card and use touch/Face ID along with your ATM pin.

https://www.chase.com/digital/atms/cardless-nfc

I’ve seen that, but that’s without the card, basically Apple Pay. It’s all those places people can use your card with absolutely no verification it’s actually your card that is the issue. Not to mention online.