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.