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


cardfan

macrumors 68020
Mar 23, 2012
2,075
2,620
Think I’d rather have the Apple card plus. Need to wait for 2nd gen. These rewards are pretty sad.
 

rcassano

macrumors newbie
Sep 5, 2009
6
1
Potomac, MD
Here I thought App Store purchases had me locked into Apple's ecosystem. A credit card that only exists in Apple Wallet will really make me feel locked down. Everyone's credit situation is different, but to open a card (with a hard credit pull) only to have to close it when you no longer have an Apple device isn't ideal (the physical card when you can't use Apple Pay is fine, but standalone doesn't seem as worthwhile).

But who am I kidding, I'm posting during the keynote, so I will probably always have an iPhone..
I would venture to guess that google will come up with a similar credit card for Android users within a year of Apples implementation. If so, you won’t feel so locked in anymore. It seems to me that the Apple Card is going to shakeup the credit card industry and force them to innovate and match Apples security - that’s a good thing!
 

John_L

macrumors newbie
May 7, 2017
3
3
You're assuming that everyone overspends when they have a credit card and that's not true. I use a credit card for everything and that doesn't make me spend more at all, because I do not see my credit card limit as "money available to spend". I know how much I can spend on things based on my budget, my checking and my savings account. I simply use the credit card instead of debit or cash because it gives me extra benefits for money that I would be spending anyway.
I agree fully. I do the same. The trick with credit cards is never to put yourself in a position where you can't pay off the balance immediately, with 1 payment. Too many people out there get a card, and the credit card companies feed you limit increases until your $5k or more in the hole, then they go to that mile long agreement you signed and find something to up you to their outrageous "default rate". Then you're stuck paying copious amounts of interest with little hope of paying it off anytime soon.
 
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Frank Dalton

macrumors regular
Jun 26, 2015
165
437
Oklahoma Territory
It’s about how Apple is using its control over hardware and software, plus the fact that it doesn’t need the apple card to be profitable right away, to rethink the whole credit card experience.
They haven't rethought anything. It's lipstick on a pig.

Yes, any company could in theory have done what Apple did, but the point is that they haven’t, because it conflicts so much with their own business model. Waive annual fees? Not sell your data? Risk their own bottom line?
This isn't the first credit card without annual fees. Even "no late fees" has been done before (and isn't *that* compelling anyway, you're still going to get socked with an exorbitant interest rate). As to not "selling" the data, yeah, sure, they don't need to sell it because Goldman Sachs will already have it by virtue of operating the underlying financial service. No thanks, that isn't any better than every other card on the market. And I don't see any evidence that this involves any substantial risk to Apple's bottom line, so I don't buy that argument either.

It’s not a multi-orgasmic thrill ride, but it’s a welcome offering for those who appreciate what Apple has to offer here regardless.
Welcome for you, unwelcome for me. I remember when Apple made great computers, not branded credit cards. That was when "one more thing" actually meant something cool was about to be presented, not Oprah Winfrey appearing on stage.
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Things don't simply have to be "innovative" for them to be something worthwhile that both consumers and companies can benefit from.
Apple could also sell milk in supermarkets, which could be worthwhile for both consumers and companies to benefit from. We used to expect more from Apple.
 
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