Apple Card: All the Details on Apple's Credit Card

[8CoreWhore]

Okay I have a question.... so I have a balance to pay. I choose to pay the entire balance. How do I do that? Check, another credit card? Just how do I pay my card balance month to month?

I guess they'll have to send a bill, either paper and/or electronic, and you pay with your checking account.

Watch, Apple will expand this program to be your checking and savings account as well eventually.

This isn't the services I was hoping to see, I want them to take over delivering internet to the home, and moble phones.
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I don’t have an iPhone nor Apple Pay. I have a high FICO score and use credit card only occasionally. Is it worth to get the Apple Card since as too many cards will hurst my score?

The best card for you is one gives you perks like (More than Apple) cash back, rental car insurance, doubles the warranty on items purchased with the card, concierge services, etc. Use nerdwallet dot com to compare cards.

 

[NachosTonight]

I’m going to get it and keep it in my wallet but still only use my Amex. I jussie want it because it’s titanium.

Later this year, Apple is going to launch a new credit card that's linked to Apple Pay and built right into the Wallet app, which iPhone users can sign up for. Apple is partnering with Goldman Sachs for the card, which is going to be optimized for Apple Pay but will still work like a traditional credit card for all of your transactions.

There's a lot of fine print associated with the new Apple Card, so we've created this guide to provide details on what you can expect when it launches in the fall.

Signing Up for Apple Card

According to Apple, signing up for Apple Card will be as simple as opening up the Wallet app, tapping on the Apple Card interface, and walking through the activation steps.

Once you've signed up for Apple Card, it will be available for use immediately for digital purchases, suggesting Apple will have some kind of pre-qualified application process in place. Apple says availability is subject to credit approval, so you need to qualify for Apple Card just like you do with any other credit card.

For traditional purchases, you will need to wait until Apple ships you the physical Apple Card.

Using Apple Card with Apple Pay

Apple Card is designed to work with any other credit or debit card stored in the Wallet app for use with Apple Pay. You can set it as the default card and use it for in store purchases on iPhone and online purchases on Apple Watch, iPhone, iPad, and Mac.

Using Apple Card for Non-Apple Pay Purchases

If you need to pay for purchases that can't be made with Apple Pay, you can use the physical version of the Apple Card that Apple sends once you sign up.

In addition to Goldman Sachs, Apple is partnering with Mastercard, so the physical Apple Card can be used wherever Mastercard is accepted. Mastercard is fairly ubiquitous around the world, so the Apple Card should be accepted wherever Mastercard is available.

The Titanium Apple Card

With Apple Card you can make digital Apple Pay payments, but Apple is also providing a physical card. Since this is a credit card designed by Apple, it is, of course, unique among credit cards.

It's made entirely from titanium, which is laser etched with your name. The front of the card does not have a card number or an expiration date listed, and on the back, there's no CVV and no signature. If someone finds or steals your card, there's going to be no real way for them to use it, at least for online purchases.

There's still a traditional magstripe on the back, along with a built-in chip for chip and pin purchases. While the card number and CVV are not on the card itself, you can find them in the Wallet app if you need them.

Credit Limits

As with any other credit card, there is a credit limit for Apple Card that will vary from person to person. A better credit score means a higher credit limit, and credit limit also increases over time.

Fees

Apple says there are no annual fees, international fees, fees for making a late payment or fees for exceeding your credit limit.

There may be no late fees, but if you make a late or miss one payment, Apple says this will result in "additional interest accumulating toward your balance."


Click here to read more...

Article Link: Apple Card: All the Details on Apple's Upcoming Credit Card

 

[Attirex]

Indeed. Wise words falling on deaf ears. If you have a credit card, you should treat it like a debit card. Always pay on time (or even better - before its due) and always pay your full monthly statement. If you can't, you shouldn't be using credit cards at all. EVER. They will ruin your life.

Yep. Learned that the hard way in grad school (had to work a part-time job to pay off my debt). Never again.

 

[Cmd-Z]

Okay I have a question.... so I have a balance to pay. I choose to pay the entire balance. How do I do that? Check, another credit card? Just how do I pay my card balance month to month?

My hope is that with your ATM card in your Wallet, you'd be able to pay your Apple Card balance from within Wallet as an ACH transfer. Otherwise, you could probably enter your Apple Card CC number into your bank's bill pay system and pay electronically that way.
[doublepost=1553722738][/doublepost]What I'm curious to know is, if my wife and I both have an Apple Card, will we (perhaps via Family Sharing on our iCloud accounts) be able to see total card activity, and pay the balance as one transfer rather than two separate payments.

 

[tmiw]

Does anyone currently have a credit card made of metal? I am curious what your experience is with it and US airport security.

From what I've heard, it usually doesn't cause problems. YMMV though. As for me, I have such a card and I usually just put my wallet in my bag before it goes through the X-ray scanner.

Can someone explain what it is with N-America and Credit Cards? Like history and why people use it. Whats so good and convinient about paying interest on money you spend? I just can’t get my head around it.

At least in the US, debit card acceptance was traditionally horrible, being basically only 100% reliable at ATMs and a subset of larger stores. This meant that besides cash and check, CC was the only other accepted form of payment. It's a big reason why they tend to have Visa or MC logos on them now.

Oh, and the rewards too. Though IMO I'm not sure this is at all a good thing from a societal perspective.

 

[s54]

Seeing that the interest rate goes as high as 24%, I'd say they'll allow a low score. But anyone with a low score should not get another card...

Thanks. It’s for my nephew whose score is about 685. He has two debit cards and no current credit cards.

 

[C DM]

So the Apple Card is just another credit card with 2% cash back.

It's nice to have in my wallet, but I'll stick to my cards with 3-4% cash back.

But it's a "cool" one from Apple. (There's also the whole no fee thing, which really shouldn't even be a factor for most, similar to APR.)

Gruber was right to rake Apple over the coals for lying about these usurious interest rates. They're no lower than anyone else's.

Complaining about the interest rates? This is a Cook release; you seriously didn't think he wouldn't want your children in exchange?

So it's pretty much just like the rest in terms of APR, does that somehow make it horrible? Seems like at most it just makes it no better in that respect, but that's about it.

What I’m trying to figure out is whether there is an interest free period. Can you avoid being charged any interest if you have paid off the card within the month?

Isn't that pretty much the norm as to how credit cards operate?

Can you imagine..the new thing will be people bragging about who's credit limit is higher...

That would be credit card forums essentially.

Looks like a good time to sell Apple stock.

Something that plenty have said after Apple announced the iPod.

 

[davidg4781]

For those of you who's thinking about applying for the Apple Card, would you still be interested if it only comes in a typical plastic card instead of a titanium card?

I would’ve skipped every news article and video if it was plastic.

 

[8CoreWhore]

Andy Ihnatko on MacBreak Weekly yesterdsay said this new service from Apple is "not a good look." I have to agree. Apple knows this too, that's why they want to dress it up to seem warm and fuzzy.

While having credit is very normal in a modern society, compound interest on daily balances, at high interest rates (13% to 24% is common, but it's still high... especially compounding) and historically usery at any rate or, usery above 6% is considered immoral.

At a time when more are being made aware of the crises we have with student debt in the trillions, and they are calling for relief, Apple joins the devil because they see all their products being bought with other companies credit cards, those companies are making, sometimes, more than Apple is on those products, and Apple wants in on the party.

Steve Jobs didn't like to get dirty with the customers - Tim Cook has no problem with it.

 

[iAVERY]

Maybe I missed something but if there is no CC#, how will you be able to make purchases at online retailers that don't offer Apple Pay or PayPal?

The card credentials will live in your iCloud Keychain to auto fill using safari. I am personally going to just add those details to 1Password for when it is needed at a online merchant that does not support Apple Pay.

 

[J InTech82]

Seeing that the interest rate goes as high as 24%, I'd say they'll allow a low score. But anyone with a low score should not get another card...

Yeah my current credit score is pretty low but I have no credit card and I am trying to establish good credit. I was screwed over years ago by a prior employer who caused my credit to go way down.

 

[polbit]

Hey, another product locked into Apple ecosystem. Yay!! At least the APR is great. Oh wait, never mind. But the rewards are fantastic. Hmm, nope.

Sweet, let me get right on it!

 

[Enclavean]

I’m so clueless on this, but if we pay the bill on time each month do we have to pay any interest?

 

[Bladery]

Does the card support NFC?

 

[baryon]

I really like the idea but I don't quite understand the way it works. Is it linked to a pre-existing bank account, or does Apple store your money for you? Like... can you use the Apple card like any regular bank account, where you transfer money into it or get paid into it by your employer and store it there? Because if not, then what's the point? You're paying your banks stupid fees anyway so having an Apple card won't really give you any benefit. And your bank already gives you a card so unless Apple Card replaced your current bank account entirely, what's the point?

Also, the card being titanium, does it work with PayPass/Contactless? Because that's kind of a basic requirement nowadays.

 

[iapplelove]

See you about 10 minutes after someone in your family goes into a hospital.

You need a credit card for a hospital stay? Hmm news to me..

How’s about stayin out of debt?

 

[trekkie604]

Hey if they offer it in Canada I'd ditch my current card as Apple's is a better deal.

What card do you have? The 1% cash back is pretty terrible even for Canadian banks..

 

[C DM]

I’m so clueless on this, but if we pay the bill on time each month do we have to pay any interest?

That is generally how it works with credit cards.

 

[Cmd-Z]

I’m so clueless on this, but if we pay the bill on time each month do we have to pay any interest?

Not if you pay the balance in full.

 

[C DM]

I really like the idea but I don't quite understand the way it works. Is it linked to a pre-existing bank account, or does Apple store your money for you? Like... can you use the Apple card like any regular bank account, where you transfer money into it or get paid into it by your employer and store it there? Because if not, then what's the point? You're paying your banks stupid fees anyway so having an Apple card won't really give you any benefit. And your bank already gives you a card so unless Apple Card replaced your current bank account entirely, what's the point?

Also, the card being titanium, does it work with PayPass/Contactless? Because that's kind of a basic requirement nowadays.

It's basically credit cards vs. debit cards type of thing.

As far as contactless, it seems like the idea in relation to that is that Apple Pay would be used for that kind of thing (with the card being linked to it).

 

[waquzy]

Looks good, but when is it coming to the UK?

 

[ijlakw]

this is really old school.... and will eventually be a problem for Apple somewhere down the road. We're 11 years into a credit cycle... and Apple decides NOW is the time for this branded credit card. I'll go out on a limb and say.. we can now start counting the days to Cook's replacement. This is a John Scully move if I've ever seen one.

 

[sirozha]

Now if Apple only bought Amazon so that I can get 3% off almost everything I buy, including groceries.
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Someday we are going to be saying. Remember when Apple made computers and phones.

Some day we will say, “Remember when the word apple meant something other than a fruit?”

 

[MoreRumors?]

There's a lot of fine print associated with the new Apple Card, so we've created this guide to provide details on what you can expect when it launches in the fall.

I’ll have to look into this and see.

 

[az431]

If you read it slowly and carefully a few times you may notice that there is some content that was not copy and pasted from Apple’s website. Tough to spot, but it’s there.