Apple Card App Expected on iPad, Barclaycard Visa No Longer Offers Apple Rewards

[Musocat]

Everyone says they pay their statement off each month. But none hardly do. Not to mention what do you do when hardship strikes ?
...
My point is very few use CCs responsibility. Very few. And even the few can run into troubles now and again. Not the best financial advice imo

And for those of us who do use them responsibly, it's great financial advice. Those small rebates on nearly everything I pay for add up, and I'm happy to have it.

As for those occasional troubles encountered by those few who pay their credit card balances every month: That's what emergency funds are for. I have a separate bank account for that.

Responsible credit card use isn't just paying the full balance every month, it's also having emergency money banked so you don't have rely on credit for emergencies. It also goes with being smart about spending in general.

I call that being financially stable. But you're right that most people aren't.

 

[Shirasaki]

Nothing is more important than having financial stability when buying luxury stuff like Apple products (I have to save a whole year to buy both iPad and Apple Watch). Whether using a debit card or not, user has to be sure he/she can successfully pay off whatever purchase they make. Unfortunately, this needs a bit of foresight and saving, which, seems to be a tough task to do for lots of people.

If Apple Card does provide a nice cash back and you are eligible to apply, assuming that you are confident to survive the payment period (one year or two), it is a food way to get a bit of extra cash. I feel envy that Australia don’t really have such good deals. Maybe I simply don’t know considering how much I hate using credit card.

Using cash doesn't make sense when you can:
1. Save the money for your purchase.
2. Use a credit card to make the purchase.
3. Pay off credit card on next statement therefore no interest.
4. Acquire cash back from the credit card for your purchase.

lol using cash doesn’t make sense. That’s a good one.
1. Most people (the majority) don’t save worth a damn.
2. Pay off credit card every month ? Well things happen. Care break down, people lose their job etc. So that’s really not the best financial advice no offense.
3. Cash back deals? What other scams do you fall for?

What an interesting clash on the opinion.

 

[tribeaumes]

lol using cash doesn’t make sense. That’s a good one.
1. Most people (the majority) don’t save worth a damn.
2. Pay off credit card every month ? Well things happen. Care break down, people lose their job etc. So that’s really not the best financial advice no offense.
3. Cash back deals? What other scams do you fall for?

How is getting cash back and earning miles/points for purchases a scam? I've paid for many things with all the points that I've accrued. I have enough hotel points to stay somewhere for months thanks to using my credit card vs debit. YOU make no sense. If you're responsible with your finances, you'll have no issues bro.

 

[12vElectronics]

Hoping they release this soon. New iPhones are only 1-1.5 months away at this point. I'm sure they want to give people ample time to apply & receive cards for their new iPhone purchase.

 

[MisterSavage]

You're another one of those that fail to understand. Using credit cards to pay for your daily expenditures and getting cash back is the smart thing to do. If you can't see that, I don't know what else to say.

Not everybody that gets a credit card thinks, "look at all this money I have access to." It's an easy safe way to make purchases without carrying around a bunch of money.

Exactly. Carrying around cash or having to constantly get cash wouldn't make me think "maybe I don't need this daily expenditure". I'm already fiscally responsible. It would make me think what a giant PITA it was be to carrying cash that could also be lost/stolen.

 

[Juicy Box]

A lot of these anti-CC comments are just silly.

Strictly from a financial perspective, if given the choice to pay with cash or CC with a deferred financing promotion, choosing to pay cash doesn't make sense.

Every new Mac that I have ever purchase, I have done so with a deferred financing promotion, and I often use deferred financing specials on many large purchases.

As for using a CC for daily purchases for benefits like cash back or reward points, that makes more financial sense too, just as long as one does it responsibly.

Also, for the financial hardship comments, if you use cash to make that Mac purchase, then have unexpected bills or lose your job, you are just out of that money. If you used some type of deferred financing instead of cash, and something came up, you still have that cash available.

Of course, there will be people that can't manage their finances, but if one chooses to pay cash for a Mac instead of using deferred financing because they might lose their job, then that means that they most likely cannot manage their finances either. In that case, I guess cash does make sense, just not financial sense.

 

[Shirasaki]

You're another one of those that fail to understand. Using credit cards to pay for your daily expenditures and getting cash back is the smart thing to do. If you can't see that, I don't know what else to say.

Not everybody that gets a credit card thinks, "look at all this money I have access to." It's an easy safe way to make purchases without carrying around a bunch of money.

I get that there are people that will use credit cards to make impulse buys on something they don't need and can't afford. THAT'S THEIR PROBLEM, not mine.

Add me to the list. But you can’t deny that impulse purchase happens from time to time, often when we are a bit over ourselves. Because of how credit card works, we suddenly dig a big hole we cannot cover up effectively, a.k.a debts.

s54 does not mention carrying a bunch of cash around just to make purchases. Nor does other members talking about not using credit card. What you may fail to understand is “spending money responsibly means don’t spend the money you cannot have (because of low income or because of financial instability)”. If you can make sure every purchase is a responsible one, good for you.

 

[mthomas184]

All BS reasons.

There's a reason why US national debt is the highest in the world. There's also a reason why most Americans have no savings and live paycheck to paycheck. And it has everything to do with credit.

Typical American mentality is that if you cannot afford something, you buy it anyway. No money? - No problem, just use credit!

Now take a look at Asian countries, for example. Yes, they also have credit cards. But the overwhelming majority of people in those countries only buy something that they can pay for in cash. Even though they have credit cards, they don't rely on them and rarely ever use them (mostly in emergency situations).

To address each of your reasons:

1. Consumerism 101. They got you by the balls. Banks in this country essentially brainwashed everyone into using credit cards. Because heaven forbid people move their fat a$$ and stop by a bank to get some cash. Also, ATM's and banks are everywhere. There's no need to pay any fees to get cash, unless you opened accounts at some third-world bank that only serves locally.

2. Rewards are absolutely a marketing gimmick to get people to sign up and tear them a new behind. They want to make you completely dependent on credit. The second anyone misses a payment, bam! They win. That's the point of credit cards, after all.

3. How many times were you robbed of your cash at gunpoint? How many times did you lose your wallet? How many times did somebody steal your hard-earned money? - This is a moot point. If you're that worried about losing cash or being robbed, then you got bigger problems.

4. If you buy with a credit card, you leave paper trail. That's reason enough not to use it. If you buy with cash, nobody knows what you bought, where, and when.

I can give you a million reasons why buying with cash is better. For starters, it teaches you financial responsibility. And you can purchase many things without anybody knowing, including Uncle Sam - there are obvious reasons why this is important; use your imagination.

Your arguments are weak sauce. They sound more like excuses. Like most, you're just afraid to use cash because it requires being more responsible and less spendy.
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Don't bother. They won't get it.

You're basically telling zombies not to be zombies. Most people are brainwashed and absolutely addicted to credit like they are to FB and Instagram. They don't understand the benefits of cash.

When hard times come (and they will, since the probability of another financial meltdown is higher today than it was in 2007), these people will be the first to go broke.

All BS reasons? Are you really that delusional?

How do you figure cash rewards are a marketing gimmick??

And do address point 3, my account got compromised due to card readers, one of which was on a bank ATM. One day out of the blue my card got hit for multiple charges adding up to a little less than $3000. And guess what. It took me 10 days to get that back. Now that I use a credit card, I dont have to worry about that.

Get real

 

[s54]

Of course, there will be people that can't manage their finances

You make it sound like it rarely ever happens.

Everyone in this thread keeps saying how "but I am financially responsible" or "if they can't manage their finances, that's their problem", etc.

Newsflash: On average, people in this country owe $6,354 on bank-issued credit cards! So if most people can't manage their finances, it is your problem too. It affects you in more ways than you think. The entire economy suffers when people aren't financially responsible. And when the economy suffers, you suffer too.

Let me give you some stats:

"U.S. households added $26 billion in credit card debt, the biggest increase among debt categories tracked, in the last quarter of 2018."

"According to the Federal Reserve, Americans owe a record $1.04 trillion in credit card debt – up from less than $854 billion five years ago."

That's insane! If you don't think that's enough of a reason for concern, then you and others know absolutely NOTHING about finance and the overall impact on society.
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All BS reasons? Are you really that delusional?

How do you figure cash rewards are a marketing gimmick??

And do address point 3, my account got compromised due to card readers, one of which was on a bank ATM. One day out of the blue my card got hit for multiple charges adding up to a little less than $3000. And guess what. It took me 10 days to get that back. Now that I use a credit card, I dont have to worry about that.

Get real

Another BS reason. Just another excuse.

First off, if you withdrew enough money from a teller at a bank, there would be no such worries. And second, if your credit card gets compromised, chances are you won't even be able to make a purchase when you really need to (unless you have multiple cc's on you, but who's to say those won't be compromised either). With cash, that would not be a concern. You can make a purchase right there and then.

 

[Juicy Box]

This is 100% right. The people arguing this are 20 year old idiots that have no idea how to properly manage their finances. Using a credit card for everything and paying it off every month is one of the best things you can do financially for many reasons.

You may be onto something when referring to them being 20 year olds.

This reminds me of me in my 30s going to college after I left the military.

Occasionally, there would be someone around my age in my classes, but almost always I was the oldest student and usually by a decade or more with most students being 20-23 years old.

In my financial management course, the instructor gave pop-quizzes before starting a new topic, usually with a few financial scenarios with choices. Some of the questions on one of those quizzes involved using cash versus CCs.

One of the financial scenarios was about making a large purchase with the choice of cash or financing it with a CC with deferred interest, and another was about using cash for a purchase or using a CC with cash back rewards.

When reviewing the quiz, the instructor asked everyone by a show of hands which would be the ideal situation with the information given, and I was the only one to raise my hand for using deferred interest and cash back.

The instructor asked other students for their reasoning to use cash in those situations, many of which stated similar comments that I have read on the thread. Basically, their comments could be generalized as stating CCs are bad.

Being the only one to answer the questions correctly, the instructor asked me to explain to the class why using a CC made more sense than using cash in those scenarios.

Anyways, your comment about 20 year olds reminded me of that.

 

[MisterSavage]

And second, if your credit card gets compromised, chances are you won't even be able to make a purchase when you really need to (unless you have multiple cc's on you, but who's to say those won't be compromised either). With cash, that would not be a concern. You can make a purchase right there and then.

Wrong. When your card is compromised and cancelled it can still be used with Apple Pay while you're waiting for a physical replacement card. And you really think that multiple different credit cards being compromised at the same time with them still physically in your possession is a scenario that could happen?

 

[s54]

At the end of the day, CASH IS KING.

Only financially unstable Americans think otherwise. This nation isn't going bankrupt by accident. Rise in homeless is also no accident. Colossal national debt is no accident either.

Chinese citizens have more savings than most Americans. Fact.

 

[Shirasaki]

As for hardships, I'd argue you are better off using the card since you would have that cash available to cover the hardship due to the 20-30 day float rather then having already spent it on the purchase and therefore it would not be available to cover the hardship.

But the irony is, “when you are planned and have the money, hardship does not come. Hardship comes when you don’t have money” lol. Also, relying on that cash you have yet to complete the payment for emergency cash is kinda, for me, silly. Emergency cash should be for emergency only.

But if you do have the cash in the bank, why not earn some return on it? I use my Apple Rewards Barclaycard for all my major ($1000+) Apple purchases because they offer 24 months SAC financing. Since I do have the money in the bank at the time I make the purchase, I'd rather earn interest on it while it's in there over that period.

If this is a viable option, why not?

I love how the main objection to Apple Card on here is 'people aren't good with money'

I think this is pretty much the most natural side topic regarding credit card related news, and the discussion is a bit more civil than “Android vs iOS” argue.

Too many people think credit card = debt.

It’s not. But credit card can potentially lead to debt. That’s how it works.

Then how else will CC companies make money?

I also wonder, since interest income is a huge source for bank.

 

[s54]

Wrong. When your card is compromised and cancelled it can still be used with Apple Pay while you're waiting for a physical replacement card. And you really think that multiple different credit cards being compromised at the same time with them still physically in your possession is a scenario that could happen?

LOL! Right, because Apple Pay is accepted everywhere. Just stop making excuses.

And yes, identify theft is on the rise and with it credit card theft, including but not limited to people opening up cc's in your name. It's not unusual for all or some of people's accounts to get compromised.

Here's a far more realistic scenario for you:

1. You want to buy something with your credit card at a store that does not accept Apple Pay (most stores do not accept Apple Pay: fact)
2. Your cc stops working for whatever reason (which can range from being compromised to the merchant cc reader malfunctioning - happens frequently)
3. You're screwed

By having cash, you're not relying on the bank, the network, etc. You pay, you go. Done.

 

[Phone Junky]

LOL! Right, because Apple Pay is accepted everywhere. Just stop making excuses.

And yes, identify theft is on the rise and with it credit card theft, including but not limited to people opening up cc's in your name. It's not unusual for all or some of people's accounts to get compromised.

Here's a far more realistic scenario for you:

1. You want to buy something with your credit card at a store that does not accept Apple Pay (most stores do not accept Apple Pay: fact)
2. Your cc stops working for whatever reason (which can range from being compromised to the merchant cc reader malfunctioning - happens frequently)
3. You're screwed

By having cash, you're not relying on the bank, the network, etc. You pay, you go. Done.

In my 40 years of using a credit card, I can count on zero fingers the number of times my card didn't work.

 

[JBGoode]

I also wonder, since interest income is a huge source for bank.

The banks and card processors get a percentage of every transaction (paid by the merchant) regardless if you pay interest or not. This is why you'll sometimes find the random small Mom and Pop shop that either doesn't take credit or 'prefers' you didn't use it. It costs them money.

 

[MisterSavage]

LOL! Right, because Apple Pay is accepted everywhere. Just stop making excuses.

And yes, identify theft is on the rise and with it credit card theft, including but not limited to people opening up cc's in your name. It's not unusual for all or some of people's accounts to get compromised.

Here's a far more realistic scenario for you:

1. You want to buy something with your credit card at a store that does not accept Apple Pay (most stores do not accept Apple Pay: fact)
2. Your cc stops working for whatever reason (which can range from being compromised to the merchant cc reader malfunctioning - happens frequently)
3. You're screwed

By having cash, you're not relying on the bank, the network, etc. You pay, you go. Done.

I didn't say Apple Pay was accepted everywhere. You are the one that said, "you won't even be able to make a purchase when you really need to" which is false. I use Apple Pay every day.

Someone opening up cc's in your name doesn't magically make the cards in your wallet stop functioning.

I make almost every purchase with credit cards and I can remember only one time in the last twenty years where it was a problem because of an outage.

 

[Shirasaki]

Those that paid with credit cards have done chargebacks.

But it depends on bank policies, as in this scenario, bank or government eats the loss for customers.

Same here. I put every single purchase from a pack of gum to something expensive on credit cards. I've never payed a dime in interest. Getting close to being able to take my third trip to Europe on credit card points. I never spend beyond my means and I have a cash reserve for the hardship scenario.

This is what “financially secure” should’ve been and this habit should be promoted across the USA. Sadly, the bank is unwilling to do so and not many people know or understand “financially secure”.

It’s easy to pay off your credit cards each month if you have savings. The rewards and security of credit card purchases are worth it, but only if you’re sure you will always be able to pay your full balance each month, which means you must have savings to dip into in case of a problem.

Indeed. Utilising CC policy to earn a bit of extra when possible is a nice way to save money. Too bad Australian banks don’t have them.

Saying or implying that it is stupid to use credit cards is an overgeneralization and a little insulting to those who chose to use them wisely.

Well kind of. I would guess more people fits into this generalisation though.

I used my credit card while I was unemployed for over a year. Earned points the whole time.

Wonder how you manage to pull that off. That’s crazy.

 

[Juicy Box]

Newsflash: On average, people in this country owe $6,354 on bank-issued credit cards! So if most people can't manage their finances, it is your problem too. It affects you in more ways than you think. The entire economy suffers when people aren't financially responsible. And when the economy suffers, you suffer too

Nothing you posted refutes what I posted though.

Let me give you some stats:

There will always be people that do things irresponsibly. People text, drink and drive, speed, use their phones, drive while on heroin, and a bunch of other things that they should;t do while driving. Does that mean people should stop buying cars? Of course not.

Saying that people should use cash instead of the many other options for the reasons you mention just doesn't make financial sense.


But, if you want to address those issues you mention, I think it starts with education.

I have been saying for a long time, on this forum and elsewhere, that there is not enough financial education in US schools. It should be a regular subject in the curriculum, like math and science, and should start in elementary grades.

There is no reason why educating people on financial management should start in college.

Just like most problems, the best solutions would be to find and eliminate the root cause of the issue, and not the symptoms of the problem.

Besides, debt isn't inherently a bad thing, and it is very common for businesses to accrue it. Apple sits on a crap load of cash, and they still have debt. Debt makes things, good things happen, but sometimes bad things too.

 

[s54]

In my 40 years of using a credit card, I can count on zero fingers the number of times my card didn't work.

Consider yourself lucky. I can count at least 10 when my cc didn't work. And I recall many situations when other people's credit card either didn't work or wasn't accepted (be it at a store, restaurant, etc.).

Also, if you ever travel abroad, that number will be much higher, since most places outside of the US prefer cash and refuse cc's.

The irony here is that I can't recall a single time in my 25 years of being financially independent when my cash didn't work. Or anybody else's cash didn't work lol

 

[s54]

Nothing you posted refutes what I posted though.



There will always be people that do things irresponsibly. People text, drink and drive, speed, use their phones, drive while on heroin, and a bunch of other things that they should;t do while driving. Does that mean people should stop buying cars? Of course not.

Saying that people should use cash instead of the many other options for the reasons you mention just doesn't make financial sense.


But, if you want to address those issues you mention, I think it starts with education.

I have been saying for a long time, on this forum and elsewhere, that there is not enough financial education in US schools. It should be a regular subject in the curriculum, like math and science, and should start in elementary grades.

There is no reason why educating people on financial management should start in college.

Just like most problems, the best solutions would be to find and eliminate the root cause of the issue, and not the symptoms of the problem.

Besides, debt isn't inherently a bad thing, and it is very common for businesses to accrue it. Apple sits on a crap load of cash, and they still have debt. Debt makes things, good things happen, but sometimes bad things too.

Apples and orange argument right here. I don't think you have the slightest clue what debt means for the majority of Americans, what that debt truly amount to, and where the country is headed as a result.

 

[Juicy Box]

The irony here is that I can't recall a single time in my 25 years of being financially independent when my cash didn't work. Or anybody else's cash didn't work lol

how about a wrinkled dollar at a candy machine?

 

[MisterSavage]

Also, if you ever travel abroad, that number will be much higher, since most places outside of the US prefer cash and refuse cc's.

Been to 8 countries so far. I loved in European countries how much more prevalent tap to pay was which gave me so many places I could use my credit cards via Apple Pay.

 

[Juicy Box]

Apples and orange argument right here. I don't think you have the slightest clue what debt means for the majority of Americans, what that debt truly amount to, and where the country is headed as a result.

I cannot control what others do, but I can control what I do.

Thinking that the use of cash instead of credit with free/deferred financing when making a large purchase is a smarter thing to do financially is just silly and immature.

There is no way around that.

 

[s54]

I didn't say Apple Pay was accepted everywhere. You are the one that said, "you won't even be able to make a purchase when you really need to" which is false. I use Apple Pay every day.

Point was Apple Pay is not accepted everywhere. So how do you expect to make a purchase with your credit card if it's suddenly compromised and not working? - You cannot.

With cash, there are no such worries.

Someone opening up cc's in your name doesn't magically make the cards in your wallet stop functioning.

Sure it does. Most banks and cc companies have very advanced algorithms monitoring sudden inquiries and unusual activity. It's not uncommon for several cards to be blocked at once after identify theft or too many sudden credit inquiries.

I make almost every purchase with credit cards and I can remember only one time in the last twenty years where it was a problem because of an outage.

There you go. You just said it yourself. You remember one time.

What's the last time there was an outage with cash? - I thought so.
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how about a wrinkled dollar at a candy machine?

On the flip side, I can't recall the last time I used a vending machine where the cc reader wasn't broken or out of order.