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

[konqerror]

The APR is actually just slightly higher than in Europe. The major difference is that the average Europen credit card doesn't allow for partial payments.

Yes, those are called charge cards in the US, where you have to pay the entire bill every month. American Express Green/Gold/Platinum are the only ones left available to individuals, and they charge an annual fee. However, they are still quite popular with upper-middle-class people.

They are common though for large company cards though because it is expected a big company will always pay every month.

 

[SkimPappa]

My card is shipping today, 816 Transunion Score, a $7500 Limit at 17.99%

That rate stinks though, should be much lower for over 800 credit score

 

[picaman]

Among other dealbreakers (no downloadable transaction info, no warranty extensions), that Goldman Sachs logo is repulsive. Can’t believe they allowed that.

It’s the equivalent of having an “Intel Inside” sticker on a Mac.

 

[jrkenn]

That rate stinks though, should be much lower for over 800 credit score

That's my thought too. I would assume credit score AND annual income will both (along with other things) determine the credit limit and interest rate?

 

[alfonsog]

Lots of people wouldn’t never be approved for those premium “better” cards you all are saying are better. Lots of people carry balances and pay interest, on multiple cards even. Lots of people would be better off with this card than paying annual fees on other cards for similar benefits.

I used to work for a credit card company call center back when I reenrolled in college, 2000-2002. I dealt with low end cards for a year.. $200 credit limit, monthly fee ones. I got switched to very high customers a year later, even remember getting a call from Christopher Columbus when he was directing Harry Potter 2, from London. Took quite a few calls from people that were paying $30,000 balances in full every month for years that had gotten laid off and were trying to avoid interest charges, dealing with those ‘privileged’ people who were basically broke now was rough. They thought we cared. Personally I went bankrupt a few years ago after the recession and pay cash for stuff now.

 

[konqerror]

Among other dealbreakers (no downloadable transaction info, no warranty extensions), that Goldman Sachs logo is repulsive. Can’t believe they allowed that.

I bet it's legal and regulation issues. All of my cards where the bank is different from the big words on the front say "Issued by XYZ bank" on the back. Apple isn't a regulated bank, and you're not incurring a highly regulated consumer debt with them.

The other thing is that while GS is "repulsive" for a SJW or millenial, perhaps, these big investment bank names attract mass-affluent/upper middle class individuals (doctors, lawyers, etc). If you knew your stuff, you'd know that GS was only accessible to those with $10 M of assets... until now.

For example, Bank of America made a big effort to rebrand "Banc of America Investment Services" to Merrill Lynch when they acquired them.

 

[whoknows2597]

Longtime lurker here!

Though I established credit in February 2019 thanks to student loans, I was approved for the Apple Card.

Credit score (TU) was 554 before the GS hard pull, limit $1K which is more than enough for me given that I don’t spend on much besides prescriptions and haircuts, and APR of 23.99%.

For anyone that cares, FICO score was at the border of fair and good.

 

[Dimwhit]

So I was initially very apathetic toward this card. No real interest because the perks weren't great. I'm reconsidering a bit. I'm only interested in cash back cards. I don't care about airline miles I'll never use. I also HATE rotating categories. I had that with my Chase Freedom and got sick of it. Especially when the % for everything else is only 1%. I also don't care about interest rates. I haven't paid a dime of interest in a decade.

Currently, I use:

Citi Double Cash - for almost everything. 2% back on all purchases. Perfect.
Costo VISA - 4% at Costco and Gas, 3% at restaurants. That's all I use it for.

So I may put the Apple CC in my rotation for Apple purchases (3%) and for Apple Pay (2%) just for the security features. For everything else, I'd continue using my Double Cash.

My only gripe is that I can't add my wife an as authorized user. But that's not a deal breaker. So I don't know...I may give it a shot.

 

[toddsworth]

My card is shipping today, 816 Transunion Score, a $7500 Limit at 17.99%

that’s crazy....800+ credit score and still 17.99%. Mine is very similar but I would expect the interest rate to be lower. I declined the card because of this.
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That rate stinks though, should be much lower for over 800 credit score

That rate stinks though, should be much lower for over 800 credit score

i agree! same thing for me. I declined because I thought it should have been lower.

 

[Baymowe335]

While no individual is a measuring stick, realistically most people who will get this card will never have to worry about FTFs anyway. And for the vast majority for whom it’s a possibility, it will be a rather rare occurrence, to the point where they'd be better off getting a real travel card when the time comes. Many of which offer a nice sign-up bonus and also have no ETFs. The Chase Sapphire Preferred for instance is offering a $750 sign-up bonus on travel.

It also has a $450 annual fee.

When you really compare everything, the Apple Card is competitive.

All cards have pros and cons which depend on individuals.

 

[cannono]

Anyone else not able to add the card to their Wallet app on iPad? It’s appearing just fine on my iPhone but my 2018 iPad Pro 11” doesn’t show it or let me add it using the card number

EDIT: Needed to update it to 12.4

 

[dontwalkhand]

So I was initial very apathetic toward this card. No real interest because the perks weren't great. I'm reconsidering a bit. I'm only interested in cash back cards. I don't care about airline miles I'll never use. I also HATE rotating categories. I had that with my Chase Freedom and got sick of it. Especially when the % for everything else is only 1%. I also don't care about interest rates. I haven't paid a dime of interest in a decade.

Currently, I use:

Citi Double Cash - for almost everything. 2% back on all purchases. Perfect.
Costo VISA - 4% at Costco and Gas, 3% at restaurants. That's all I use it for.

So I may put the Apple CC in my rotation for Apple purchases (3%) and for Apple Pay (2%) just for the security features. For everything else, I'd continue using my Double Cash.

My only gripe is that I can add my wife an as authorized user. But that's not a deal breaker. So I don't know...I may give it a shot.

I think Apple card plus the Citi Costco is a good combination. Use the citi card at restaurants and Costco (which you’d be required to since Apple Card is a MasterCard and they only take Visa) and use Apple Card where Apple Pay is available (again, except for Costco, which citi in Apple Pay works fine)
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Anyone else not able to add the card to their Wallet app on iPad? It’s appearing just fine on my iPhone but my 2018 iPad Pro 11” doesn’t show it or let me add it using the card number

Update the iPad! I don’t think you’re allowed to add it using the numbers (other than in Safari Autofill), you must select the Apple Card option

 

[RangerOne]

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.

One of my credit cards has been stolen 6 times. While I wasn't liable for charges, it didn't mean I didn't spend time calling the bank, cancelling my card, calling retailers & e-tailers to cancel un-shipped orders, notifying UPS/FedEx/etc, waiting for the replacement card, re-setting up the card in Apple Pay, updating all my payment methods in my online accounts, etc. It's a major pain in the backside. Once, I had my card replaced and on the VERY FIRST time I used it at a restaurant, it was stolen again. I had people buying weed in Colorado, medical services in Florida, jewelry in California and something in South America by the next morning.

So yes, the ability to have a card that is so resistant to fraud? Priceless. I'll use my better rewards cards for other purchases, but I'll use the Apple Card in every restaurant I go to. Too bad America is so low-tech; in Canada, Europe, etc. they take the card right at the table where you can see it.

 

[cannono]

I think Apple card plus the Citi Costco is a good combination. Use the citi card at restaurants and Costco (which you’d be required to since Apple Card is a MasterCard and they only take Visa) and use Apple Card where Apple Pay is available (again, except for Costco, which citi in Apple Pay works fine)
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Update the iPad! I don’t think you’re allowed to add it using the numbers (other than in Safari Autofill), you must select the Apple Card option

Doh! I assumed it had updated on its own but you’re right, it’s on 12.3

 

[kingalien]

Anyone else not able to add the card to their Wallet app on iPad? It’s appearing just fine on my iPhone but my 2018 iPad Pro 11” doesn’t show it or let me add it using the card number

Showed up automatically on both my iPads. Maybe an update is needed.

 

[Gutwrench]

Meh, the interest rate on my credit union card is 9.9%. I think I'll stick with that.

Meh, who wants to carry a balance at 10% interest?

 

[Gutwrench]

Well got the email invite so I took a chance. Now the thing of it is my score was lower 700’s, showed 100% on time no overextended on credit everything was perfect BUT I was declined because we had to file bankruptcy back in 2014 due to lose of my hubbys and mine jobs and I became full time caregiver to my Mom who had cancer. We had to start over and before our bankruptcy our scores were always in the 800’s. We worked hard to reestablish our credit over the last few years and have done very well in doing everything right. We finally got a Capital One CC and have had that for the last 2 plus years doing everything right. Just using it to buy gas or groceries and paying off every month. Never been late on anything! We have rented for 5 years now going on 6. No issues no problems pay everything as much as we can with cash only using the Capital One once a month for little things to bring up our credit score which finally is like I said in the 700’s. So why were we declined? Because we had a bankruptcy still on file and that won’t come off u til 2003. I guess I thought for sure seeing as we show a history of great credit activity and I owned a iPhone 6S Plus now an iPhone XS Max, IPad Pro and 2 Apple PCs you would think we would be accepted. Nope! I won't try again, we will wait. Few more years our bankruptcy will be done no big deal if I don’t have this card just thought it would be a way to do this like our Capital one but there are other CC’s out there we can and are already approved for but not the Apple Card which is too bad, we give them good business but no worries, we don’t need it that bad at all.

It’s a blessing. You don’t need it. Good luck.

 

[kupkakez]

I got my invitation yesterday and only signed up to be notified earlier this week or late last week. The whole process was quick. I got $10k @ 12.9%, I do not carry a balance so interest rate is irrelevant but it is my lowest limit card yet lowest interest card.

I already made a purchase this morning on it to reload my Dunkin’ card using Apple Pay and already have my Daily Cash ready to redeem. Pretty cool!

 

[H.E. Pennypacker]

I got an invitation yesterday (can't remember I signed up to be notified) but I decided to skip applying for it.



It's brand cachet. Nobody would care if you were unboxing a credit card from a regular bank or CU.

See an Amex Black Card unboxing.

You’re comparing a centurion card vs the Apple Card. You need to spend at minimum $250k per year for that card. I would be willing to wager most people who have the Apple Card don’t make that in 2. So ya I could see why someone would want to see the centurion card. Any Tom dick and Jane can get an Apple Card with relatively decent credit. This isn’t an exclusive card people.

 

[DeepIn2U]

Among other dealbreakers (no downloadable transaction info, no warranty extensions), that Goldman Sachs logo is repulsive. Can’t believe they allowed that.

It’s the equivalent of having an “Intel Inside” sticker on a Mac.

While I agree with you just remember for the most part and in places where ApplePay is available the use of the card, like viewing the back ... is optional

 

[Jax44]

The best feature, IMO, is the virtual card number for online transactions.

I can buy something from a site I've never visited before without worrying about them "skimming" my card number. I just have my Wallet App generate a virtual card number/EXP/CCV. If I visit another site I want to buy something from I can generate a brand new virtual card number. If I want I could literally generate a virtual number for every single transaction I do online.

Just think how this will help with fraud investigations. If I used a virtual card at an online retailer, and a week later that number is attempted again for another purchase the bank will immediately know it's a fraud attempt. Further, if a virtual number I used at one online store is attempted to be used at a different online store the bank not only knows it's a fraud attempt, but they now have a verified link between the two entities. This should go a long way to reducing fraud and catching the organized criminals as you now have a "paper trail". With a regular card that might have been used at dozens (or hundreds) of locations it can be difficult to figure out which of those locations was the source of the skimming.

Doesn’t it automatically generate a new number with each purchase?

 

[DeepIn2U]

I got my invitation yesterday and only signed up to be notified earlier this week or late last week. The whole process was quick. I got $10k @ 12.9%, I do not carry a balance so interest rate is irrelevant but it is my lowest limit card yet lowest interest card.

I already made a purchase this morning on it to reload my Dunkin’ card using Apple Pay and already have my Daily Cash ready to redeem. Pretty cool!

So why hasn’t anybody posted their Animoji expression when receiving this card yet?

 

[Seanumich]

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?

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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?

So you use the card with 5 percent cash back during those months. It is certainly better than zero from Apple. Last quarter was gas with Discover. This quarter is restaurant and bar. It is money I am spending anyway with a FREE five per cent. If your boss offered you a five percent raise would you take it?

 

[xnu]

nevermind

 

[Seanumich]

"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'.

Except the report to Equifax who had their own breach. If you thing this is more secure, you are delusional.