I don’t do debit so I less I can pay via another credit card or checking it’s a no go for me.
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Apple Card: All the Details on Apple's Credit Card
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This must be what Tim was referring to as the most exciting product line up in years at Apple... *heartbreak emoji*
Yeah, no.
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Not sure I agree. While this is nothing earth-shattering, it will likely add a few billion to Apple's bottom line.
A couple things, in order:
1. There gotta be fees somewhere hidden. Goldman Sachs is a luxury brand. I seriously doubt there is no fee except interest for late payment.
2. What if someone gets this card just to sell it as scrap metal? The replacement fee gotta be high compared to plastic card (which is free in Australia when your credit card is lost/stolen/damaged).
3. The Apple card will go nowhere in certain markets. Not like this is a huge concern for them anyway.
4. As mentioned by several other members, The current Apple is lost. They have no game plan or any sort of follow up. They are reactive instead of proactive.
1. There gotta be fees somewhere hidden. Goldman Sachs is a luxury brand. I seriously doubt there is no fee except interest for late payment.
2. What if someone gets this card just to sell it as scrap metal? The replacement fee gotta be high compared to plastic card (which is free in Australia when your credit card is lost/stolen/damaged).
3. The Apple card will go nowhere in certain markets. Not like this is a huge concern for them anyway.
4. As mentioned by several other members, The current Apple is lost. They have no game plan or any sort of follow up. They are reactive instead of proactive.
How is that a luxury brand?
And I’m sure there’s a lot of margin in credit cards, not only with interest but late fees and merchant fees.
Apple users generally spend more on apps and services than Android. Apple users also have an image to protect.
I think they can get away with no fees and “low” interest and still make a lot of money on how many customers will use it for every little purchase and carry a small balance.
I don’t think they’re going to have the same risky customers that Capitol One may have. They’ll give credit to anyone. IIRC, and I may be wrong, you need a certain credit score and above to qualify for this.
You must be blind if you don't understand the implications of this. One day in the future when the Mac and iPhone are not the big hit, things like this can fund R&D. Taking an easy buck here and there when possible is the name of the game.
1. Many other credit cards have no or low fees. Credit cards get revenues from interest and transaction fees from merchants. The no late fees is kinda a gimmick anyway as they had it on fine print that you will see adjustments on your interest instead.
2. The fees would probably be determined by whoever bank that Apple decided to have the contract with when they want to bring this to Australia. In the US, most replacement cards from credit cards tend to be provided for free.
3. It works wherever mastercard is accepted.
4. This is a bigger deal than what most people think as Apple is inching their way into the financial market (along with healthcare market). Apple is not lost. They are pivoting their business because the smartphone market is maturing, and deals like this is not done just a few days before the event. Apple probably has been working in these deals many months or years prior.
I guess in those rare instances you would just insert the card in the chip reader.
Also, maybe I am wrong or misremembering, but I thought there was some feature (either released or in the works) that would allow the phone to pull a small amount of battery in order to access the wallet and gain access to your cards even if your battery has died.
You will pay your credit card bill with another credit card? That’s a sound policy!
Apple Pay Cash creates a virtual debit card linked to your checking account.
Apple Pay Cash is available only in the US so far. It’s no coincidence that the Apple Crédit Card will be available only in the US. I’m sure these two features go hand-in-hand.
[doublepost=1553742085][/doublepost]Who is stupid enough to get such an insanely bracketed card? Even on the ‘low end’ those APRs are ****ing atrocious.
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
Those who pay their bills, on time and in full.
There are many credit card terminals with no chip reader, e.g. transit.
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Citi Double Cash Mastercard: 2% on everything
Amex Blue Cash: 3% on groceries
Uber Visa: 4% on restaurants
There aren't many good reasons to carry the Apple Card.
Which cards give 3-4%? I thought citi double cash was one of the best currently but they’re only at 2%
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Me. I never look at APR’s as a deciding factor on cards cause I pay in full on time
Apple is in for a very hard lesson in the coming months and years. I am (or was) a MASSIVE Apple fan. The market has changed but they refuse to see it or can’t see it. They need to update their apps with major updates and features throughout the year rather than have a media event to announce they changed the font and then Ofer a subscription service to use the new font. Steve Jobs warned Apple of greed. They have lost their focus. I like Tim Cook but I think he has carried things as far as they can go at this point. Time for new leadership to go back to “Think Different.” The other thing Apple has lost is its element of surprise. They are so predictable now. Tim, acts like we don’t know what the hidden cards are that are going to be so great! Apple Car, Apple glasses, OLED displays, foldable iPhone. Nothing seems magical anymore. A major overhaul needs to happen at Apple but I am afraid it will take years before they change their current slogan from “Faster, slimmer, Inferior and much more expensive.” And get back to caring about the customer and making great products that people do not mind paying a bit more for if they are the best. Case in point the Pixel 3 camera with 1 lens kicks Apple’s and everyone’s asses for less cost. Apple come on wake up!! Steve, maybe send a lighting bolt. Lol.
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I hope they eventually offer Gold and Platinum versions, with appropriate annual fees and extended warranties for purchases, etc. I’d happily spend $75 annually for a Rose Gold card with premium features.
I don't think it is ridiculous, just normal. Most small personal loans are 6 - 8% APR with lots more reference checks. I would have expected the low end of the Apple CC to be single digit, but I think I would have be happier if it started at 10%.
Anyway Apple should just shut up and it available world wide now.