It amazes me how many people in this thread think that managing credit means going into debt. These are exactly the people that shouldn't own credit cards, so I guess they're doing that right.
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Apple Announces 'Apple Card' Credit Card With Daily Rewards, Simplified Statements, and No Fees
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It amazes me how many people in this thread think that managing credit means going into debt. These are exactly the people that shouldn't own credit cards, so I guess they're doing that right.
OMG read all of my other posts in this thread holy crap I'm tired of these responses. It's a part of a bigger strategy and people keep quoting out bits of my larger response even though I was talking about keeping my money in investments (which obviously means I have a lot more money that can cover this at any point in time). You have to play the credit game if you want to get a good rate on your mortgage unless you're independently wealthy and buy your house with cash. Good credit can save you hundreds of thousands over the life of a mortgage by securing a lower interest rate.
Nobody who has responded to me has told me why, specifically, having a 0% for 18 months line of credit that is paid off in full at 18 months when you have many tens of thousands of dollars liquid and even more in investments is worse than leaving that $4000 invested over the 18 month period while earning $125 in rewards and on average $300-500 on the market. Not you, not anybody has said why. Tell me why. People just scream at the top of their lungs "CREDIT BAD CREDIT BAD!!!" Credit is a tool. Use it like a tool to your advantage! It's simple math. Discipline yourself and use the system in your favor. I've never paid the credit card companies a dime for any fee or interest.
And no, an answer is not "Because people are stupid with credit." I am not stupid. It's called discipline.
I don't even know why I try sometimes with you people. 90% of people are financially illiterate anyway. I may as well be speaking a foreign language. The negative reactions are surely from people who weren't responsible with credit cards and it ruined them and now they think they're a financial guru because they stopped using them. No, it just means they didn't know what they were doing.
I'm using the Apple iPhone Upgrade program and the monthly payment goes on my credit card. No hate here.
I was reading an article about how with some people when their credit limit gets increased they use that as a green light to go crazy and spend a lot more, which doesn't make any sense to me. Use a credit card like a debit card and only spend money you currently have.
When you use a chip it doesn't matter.
When was the last time you had someone look at your card let alone your signature or "Check ID" writing on the back of the card.
that's only if you can't afford to pay your monthly statement, in which case you shouldn't own a credit card. People who spend more than they can afford deserve their fate.
I only care about rewards and sign up bonuses. Heck I have close to 30 credit cards. Combined I have 250k available. Business cards another 100k. Utility usually 2-3 percent. Most have zero balances and are hardly used. Score is over 800.
It’s a hobby like this forum is. But I make 5-10k a year usually just from rewards and bonuses not to mention the perks. Have to be disciplined and not buy what you normally wouldn’t. Never pay interest. A business helps. The Apple card is kind of worthless in that regard.
It’s a hobby like this forum is. But I make 5-10k a year usually just from rewards and bonuses not to mention the perks. Have to be disciplined and not buy what you normally wouldn’t. Never pay interest. A business helps. The Apple card is kind of worthless in that regard.
This is probably the best response I have read in this thread... and I am someone who has learned their lesson the hard way and is actively improving my credit.
Card usage is growing and will continue to grow.
But we have to remember that the sort of people posting on these forums will typically be IT literate and openly embrace change (although sometimes you have to doubt it when you read the threads) and so would migrate to a cashless lifestyle more easily.
In the UK there are movements to legislate to protect the use of cash. There are a group of (typically) disadvantaged people that cannot or will not move to cashless. Weren’t there some court cases in the States recently where retailers were prohibited from only taking card payments?
Well, now that I think about it, there was one time back in 2008 that I paid some interest.
I had only been going to university for like a year and my loans for the new semester weren't going through because the banks holding them were literally failing because the economy was imploding. It was the start of a new school year and I hadn't yet established a job after moving back. Even getting a job at the grocery store was nearly impossible because of all the middle aged folks who were losing their careers and having to work lower paying jobs. It was a terrible time and gas was approaching $5/gallon to it wasn't even economical to drive back home to work at the place I would work in the summer. I was stuck in a tough spot of not being able to pay anything and was facing not being able to go to school and being evicted. I put a few thousand dollars on my credit card. It saved me until I could get student loans and income streams sorted. It was around that time that I began doing more freelance design work and learned a valuable lesson about having a fallback plan and large savings cushion. It inspired me to learn as much as I could about budgeting and how to keep that from ever happening again.
In the end I didn't pay a lot of interest because my card rate was fairly low (somewhere between 8-10%). Do I regret it? No. It saved me when I was in a tough spot and it's a whole lot more affordable than a payday loan. I was able to go to school, have a roof over my head, and eat food. I didn't have parents for a fallback plan. Ever since then I haven't paid credit card companies a dime going on 11 years now and have earned dozens of times in cash back rewards what I paid in interest surviving during the financial crisis of 2008.
This is an interesting point. But you can report to credit bureaus without needing to report what people actually bought and for how much. Credit bureaus only need to know that you borrowed money and didn't pay it back on time.
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I recently got approved for my first credit card and I'm like over 30. Literally the hour before Apple announced their Credit Card offering did I get an approval for a secure credit card. I want to use it as a tool to get better rates and have more access to cars and apartments and stuff.
Yes, some places are trying to make cash-free businesses prohibited.
http://www.grubstreet.com/2018/11/new-bill-would-make-cash-free-businesses-restaurants-illegal.html
That is still a good story. It goes to show the importance of one not living beyond their means, and taking steps to make smart decisions. If you wonder why we hav had issues with credit and the housing bubble popping, its because people were not making smart decisions, and living beyond their means.
That is slightly off topic, but it goes to say that credit users need to be smart if they want to succeed. I really hope the Apple Card program takes off, as I would love to even use it for my iTunes purchases and expenses like my fuel expense. Stuff that I normally pay with cash for and can easily pay off. I just hope that my credit score is up to par after it is released. Sitting around 630 right now.
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I got my first credit card in nearly 10 years in 2017, and it was secured too. Kept on time payments, and now have a higher credit limit and the card is now unsecured. Good luck to you!
I wouldn't expect so. You'd want to use Apple Pay proper and not the physical card if contactless is available at the POS.
The physical card will not. Contactless is only available on iPhone and Apple Watch
Evil... ok, buddy. Ignore the facts, and stick to your religion; whatever helps.
Haha, I suppose if you just accept everything at face value and make assumptions based on grand titles your comment is reasonable. I tend to go beyond advertising, are you one of those people that never read the fine print, ingredients list, or installation guide?
But thanks for being completely unhelpful!
He answered your question and helpfully provided a link to the primary source so you could verify for yourself. His answer was correct and direct.
You could have just said “thanks.” Fortunately for you, there are no fees for being ungrateful and dyspeptic.
Im not sure what the Apple Card has to do with this. I would be a little smarter about this and not think Apple is your savior here. Once you are approved, use your Apple Card for iTunes and a gas card for gas. Chase sometimes give you 5x for gas. Optimizing your cards is one way to go about raising your credit score and maximizing your roi. There are also ways to maximize the system e.g 5/24 but I won’t go into those details here
Humor an old man in case I missed the payment method.
Looks like you just tap on Pay to pay the bill.
Did they mention how that works.
I have always done statements by mail my entire life. So, not familiar with this method.
Assume I would need to enter my banks checking/routing account numbers to transfer the funds.
Thanks
Looks like you just tap on Pay to pay the bill.
Did they mention how that works.
I have always done statements by mail my entire life. So, not familiar with this method.
Assume I would need to enter my banks checking/routing account numbers to transfer the funds.
Thanks
So, like a lot of other companies using banking payments, you set up your checking account information with Apple (routing number and checking account number). When you pay a bill, it makes an ACH withdrawal on your account. Other credit cards use this through their respective apps.
I don't know if they will do paper statements at all (my guess is that would be a no, because you already need an iPhone any way so they can just deliver the info straight to the wallet app). Maybe they'll let you mail a check but they didn't say that either.
I would imagine not. No other credit card of this caliber makes you pay for the card.
Besides, that would be against the "No Fees" ethos they touted during the keynote.
Haha, I suppose if you just accept everything at face value and make assumptions based on grand titles your comment is reasonable. I tend to go beyond advertising, are you one of those people that never read the fine print, ingredients list, or installation guide?
There is no fine print under No Fees other than "Interest charges will accrue" or something to that effect. I read it, apparently you still haven't. It's impossible to help people who choose not to help themselves.
Thanks,
That's what I am thinking.
I have a local grocery store that stopped taking Apple Pay with MSC credit cards. It must be a debit card. Didn't know if they would take this new card if monthly payments are done directly from checking account. I doubt it. Sure it would still read as a credit card. But, would try the new card just to test it.