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Apple Begins Issuing Preauthorization Credit Holds for iPad Pre-Orders

cvaldes said:
Thanks for taking the time out to respond.

Sorry, but I can't empathize. My ROI over 5+ years of owning AAPL has been phenomenal. My increase in AAPL value over this time has handily paid for everything I have purchased from Apple during this period. While these are unrealized gains (I haven't cashed out), basically, I will have no net outlay for my Apple purchases.

I wish I could say the same for anything else I've invested in, including MSFT and BRK-B.

Have a great evening and good luck with the hat!

:)
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MSFT 1992 or so to 2000. you can't find a better performing stock
 
flavius99 said:
There's nothing on my AMEX. I ordered the 64GB 3G on the 12th.

:confused:
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I'm not sure that they need to run a pre-auth sweep on charge cards. AMEX Green, Gold, Platinum, etc. are charge cards, not credit cards. There's no credit limit for Apple to bang its head against.

It's a bit different for an AMEX card with a revolving credit line like AMEX Blue, but then, I assume it's Apple's choice whether or not to do the pre-auth.

AMEX cardholders typically put 4-5x more on their cards than Visa/MC cardholders. Basically, AMEX cardholders are substantially more affluent than Visa/MC cardholders. By not doing a pre-auth on AMEX credit cardholders, Apple might be acknowledging that those are a low-risk customer base.

Like I said before, it might be pointless to do a pre-auth for AMEX charge cardholders.
 
alent1234 said:
MSFT 1992 or so to 2000. you can't find a better performing stock
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I own MSFT purchased around 2000 (not a lot).

Long ago historical performance isn't relevant, especially for high-tech companies.

If you were lucky enough to purchase MSFT in 1995 and still have it, all the power to you. I'm not one of them, nor are most of today's retail investors of MSFT.

Anyone can probably find a fine time when any given company's stock was at its peak performance. I will argue that based on rather massive changes in the market over the past five years, if you are quoting something before 2005, it is largely irrelevant to today's retail investor.
 
TLansing said:
There is more to this story than revealed in the article. I'm an AAdvantage CitiCard holder with more than 1M miles (not bragging, just saying I've been around for a while and have made a lot of transactions) and my iPad purchase was suspended by the credit card company due to "high risk activity".

I received a notice from Apple that my credit card transaction wasn't accepted so I tried repeatedly to reauthorize the transaction from the apple store. I then logged into to my credit card account and noticed my account was suspended. I called them and after a bunch of security questions I had to tell them to approve the charge from the Apple Store.

Citicard doesn't do this kind of thing very often so it brings to question what did Apple do to trigger these adverse credit card events???
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You are not the first person to mention a problem with your charge from Citicard. Cardholders from other issuing banks do not seem to be reporting any problems with a recognizable pattern.

Based on this observation, my guess is that it really isn't Apple's fault. It's likely an error specific to the algorithms of the Citicard antifraud analysis program.
 
Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 3_1_3 like Mac OS X; en-us) AppleWebKit/528.18 (KHTML, like Gecko) Version/4.0 Mobile/7E18 Safari/528.16)

So, I preordered an iPad 3G 64GB and paid by 2 gift cards and paid the rest by credit card. Does anyone know if Apple treats the gift cards like credit cards meaning not taking the money until shipping? I just checked the balance on both of the gift cards and they are both 0 now. Of course they could have been zero since March 12th at 5:39 in the morning :) Any one know what Apple's
policy is in this regard?
 
Not charge on my card yet, pre-ordered the first day a wifi version.
Hope to get it for free then! haha

Oh i used my Amex, Apple trusts me :)
 
Macaddict16 said:
Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 3_1_3 like Mac OS X; en-us) AppleWebKit/528.18 (KHTML, like Gecko) Version/4.0 Mobile/7E18 Safari/528.16)

So, I preordered an iPad 3G 64GB and paid by 2 gift cards and paid the rest by credit card. Does anyone know if Apple treats the gift cards like credit cards meaning not taking the money until shipping? I just checked the balance on both of the gift cards and they are both 0 now. Of course they could have been zero since March 12th at 5:39 in the morning :) Any one know what Apple's
policy is in this regard?
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They would debit the gift card balance at the time of the order, so you can not go use if for something else...
 
TLansing said:
There is more to this story than revealed in the article. I'm an AAdvantage CitiCard holder with more than 1M miles (not bragging, just saying I've been around for a while and have made a lot of transactions) and my iPad purchase was suspended by the credit card company due to "high risk activity".

I received a notice from Apple that my credit card transaction wasn't accepted so I tried repeatedly to reauthorize the transaction from the apple store. I then logged into to my credit card account and noticed my account was suspended. I called them and after a bunch of security questions I had to tell them to approve the charge from the Apple Store.

Citicard doesn't do this kind of thing very often so it brings to question what did Apple do to trigger these adverse credit card events???
Click to expand...

They probably performed 150,000+ pre-auths all at one time. Maybe Citi freaks out if they see that kind of increase from one company at one time. You'd think they'd flag Apple as a trusted merchant so this wouldn't happen.
 
Macaddict16 said:
Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 3_1_3 like Mac OS X; en-us) AppleWebKit/528.18 (KHTML, like Gecko) Version/4.0 Mobile/7E18 Safari/528.16)

So, I preordered an iPad 3G 64GB and paid by 2 gift cards and paid the rest by credit card. Does anyone know if Apple treats the gift cards like credit cards meaning not taking the money until shipping? I just checked the balance on both of the gift cards and they are both 0 now. Of course they could have been zero since March 12th at 5:39 in the morning :) Any one know what Apple's
policy is in this regard?
Click to expand...
I'm pretty sure the gift cards are treated like cash. After all, they've already been paid for.

It's actually how I typically fund my iTunes Account. Yes, I have a credit card associated with the account, but I actually find it easier to purchase a gift card and redeem it at the iTunes Store.

Why? First of all, I don't have to keep track of micropayments to Apple (my purchases are usually small, infrequently, and typically separated by days). Second, iTunes shows a remaining balance, which basically acts as a budget. If I let my credit card get charged ad hoc each time I purchased something, it would be a little harder for me to be aware of how much I've spent over a given period of time.
 
rmatthewware said:
They probably performed 150,000+ pre-auths all at one time. Maybe Citi freaks out if they see that kind of increase from one company at one time. You'd think they'd flag Apple as a trusted merchant so this wouldn't happen.
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Nah, I doubt if this is the first time that Citi has seen this sort of massive charge volume.

Exhibit A: Volume __ of the Harry Potter series, shipping from Amazon.com on date __/__/__.

Get my point?

In any case, 150,000 pre-orders wouldn't all be on Citicard. We're probably talking about 20,000 Citi transactions tops for a device that starts at $500.

And why would Citi *want* to deny authorization anyhow? They probably burn up $10/minute for each customer service call.
 
C'mon, c'mon, c'mon, c'mon....

...and, no, I'm not getting tired of iPad coverage.

Expecting mine on the 3rd. Gonna be sitting on the front porch waiting for FedEx.
 
I reserved an iPad at an apple store in buffalo... is it possible that they will be sold out if i go there to pick it on day one? it's a long drive for me and i have never made a purchase from there before for a launch day product... so im not sure what the circumstances are going to be like...
 
rmatthewware said:
They probably performed 150,000+ pre-auths all at one time. Maybe Citi freaks out if they see that kind of increase from one company at one time. You'd think they'd flag Apple as a trusted merchant so this wouldn't happen.
Click to expand...

You and Cvaldes are right, but all companies that have an agreement with Citicards or any Visa/AMEX/MC/Diners relationship are required to comply with tight processing algorithms to prevent this sort of thing. I twill be interesting to see who screwed up!

I'd like to see this on CNN in the morning.
 
Wirelessly posted (Opera/9.80 (J2ME/MIDP; Opera Mini/5.0.17405/1092; U; en) Presto/2.4.15)

Wonder why the 3g orders are getting preauthorized. If they were shipping soon u'd think preorders would be allowed.
 
Can I change my shipping address?

Ugg. I ordered a 3g and while I would love to get it early, I am going to be out of town the first week in April.

Can I call fedex andhave them redeliver to a different state?

If so, do they send it next day if that was what the original order was?

Or do I just have to wait until I get home?
 
ipad 3g prepared for shipment

according to the nice automated system (i really like the sound of typing while it is processing my requests), my 3G ipad and dock are prepared for shipment. i suppose they might wait past the 3april date for the wifi only one, but i cant imagine why. they have not updated the online page, but i assume they are holding the online updates for now. since they are hitting the credit cards, they might have decided to let the information out on the phone system, or they just missed it.

anyway, i will be happy if i get it sooner rather than later . . . .
 
Look at this. Can you smell the panicked anticipatory panic setting in? Good lord.

My money's on the 3G models not shipping early, at all. End of second week in April at the earliest. Based on the zillion early orders for all manner of Apple equipment for years, both personal and via corporate accounts.

Having said that - good lord I hope they ship early.
 
cvaldes said:
I
It's actually how I typically fund my iTunes Account. Yes, I have a credit card associated with the account, but I actually find it easier to purchase a gift card and redeem it at the iTunes Store.
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I do the same thing, except I get my gift cards from CostCo at a discount. :cool:
 
JtheLemur said:
Having said that - good lord I hope they ship early.
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You know a good reason for them to arrive on Friday is to avoid people that pre-ordered from going to the Apple Store and getting one rather than wait for a late in the day saturday delivery.

Get them to people on friday and the lines at the Apple Store will be shortened.
 
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