Apple Card Begins Arriving to Customers, Wide Range of Credit Scores Reportedly Being Approved

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Following the Apple Card's rollout to a limited number of customers in the Wallet app earlier this week, some are beginning to receive their physical, titanium Apple Card in the mail for use at stores that do not accept contactless payments.

The Verge's Nilay Patel has shared photos of his Apple Card, revealing that it is thicker than his other metal and plastic credit cards. It was earlier reported that the Apple Card weighs around 14.75 grams, making it slightly heavier than the Chase Sapphire Reserve credit card but lighter than an American Express Platinum.

Physical Apple Card has arrived. I have surprisingly strong feelings about having a Goldman Sachs logo in my life? Anyway, you can see how much thicker it is than my plastic or metal cards. pic.twitter.com/hXi3q4ijoJ - nilay patel (@reckless) August 9, 2019

Card weights from my crappy kitchen scale (ignore coffee detritus)1. Apple Card 14.7g (quoted is 14.8 so probably rounded up)2. AMEX platinum 18.4g3. Chase Sapphire Preferred 12.2g pic.twitter.com/bCZMpmUhNN - Matthew Panzarino (@panzer) August 7, 2019

Another early adopter, Aaron Andino, has shared an Apple Card unboxing video on YouTube that provides a closer look at its packaging. The card and packaging look consistent with pre-launch photos that leaked.


The physical Apple Card, made out of titanium, features a clean design with an Apple logo, a chip, and a name. There's no card number or expiration date on the card, nor is there a CVV on the back. Instead, these details are stored in the Wallet app for added security in the event the card is lost or stolen.

The back of the Apple Card also has a minimalistic design with embossed Goldman Sachs and Mastercard logos and a magstripe. Goldman Sachs is the Apple Card's issuing bank, and it relies on the Mastercard payment network.

Read our step-by-step instructions on how to order a physical Apple Card by mail. The card ships free of charge and a notification is sent to your iPhone when it ships. The turnaround time appears to be a few days right now.


Later this month, Apple will allow all U.S. residents age 18 or older to apply for the card. So far, it appears that Goldman Sachs is being quite lenient with approvals, as CNBC and iMore have reported that some customers with credit scores in the 600s have been approved, albeit with lower credit limits and higher APRs.

When fully available, iPhone users can apply for the Apple Card in the Wallet app within minutes and take advantage of features such as 1-3 percent in daily cash back, color-coded spending summaries, and no fees. Just ahead of launching, the card's APR range was lowered to 12.99-23.99 percent.

Article Link: Apple Card Begins Arriving to Customers, Wide Range of Credit Scores Reportedly Being Approved
 


konqerror

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Dec 31, 2013
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Goldman probably figures if you can afford an iPhone you're probably a better credit risk than the average consumer, even if you have a middling credit score.
Got a $6,500 limit with 17.99 APR. Higher limit than I expected but perfect as my primary card for security, privacy, and dashboard of my transactions
Also lower identity theft fraud risk by tying applications to a valuable piece of hardware, versus a form somebody filled on the Internet or found in the mail.

This is why traditionally cards start with a low limit and after a few months of successful payments, kick it up. ID fraudsters instead rack as many charges as they can then abandon the card.
 

Kaibelf

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People are being seduced by the minimalism and Apple Wallet integration. There are much better cards out there from a rewards perspective). In terms of privacy and security you're not liable for any fraudulent charges with normal credit cards that have the number on them so....no real difference.
Depends. What are the rewards and are they actually used? For example, who cares if you get a ton of miles if you don't actually take them, and if you instead cash them in for Amazon credits at a tiny fraction? And who cares about 4-5% cash back when it's a rotating category?
 

klunernet

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When fully available, iPhone users can apply for the Apple Card in the Wallet app within minutes and take advantage of features such as 1-3 percent in daily cash back, color-coded spending summaries, and no fees. Just ahead of launching, the card's APR range was lowered to 12.99-23.99 percent.
I doubt Europe will get this card then. Both the cash back and APR lowest percentage is illegal here.
 

mattyj2001

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Oct 29, 2015
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People are being seduced by the minimalism and Apple Wallet integration. There are much better cards out there from a rewards perspective). In terms of privacy and security you're not liable for any fraudulent charges with normal credit cards that have the number on them so....no real difference.
"Not liable" is not the same as "more secure".

I wouldn't get/keep a card from an entirely unsecure issuer (Capital One) just because I'm not liable. Identity theft is still a nightmare, even when you're 'not liable'.