Apple Card Extending 3% Daily Cash to More Merchants, Starting With Uber and Uber Eats

[Adoniram]

Can someone clarify this for me: Is daily cash something you have to "cash out" every single day, or is it always there and available whenever you want it? I'm trying to figure out if it means you use it or lose it, or it accrues daily instead of monthly like other cards.

 

[Baymowe335]

Apple can continually change the reward structure to make this card more appealing over time.

Watch for bonuses, more stores getting higher rewards, etc.

This card is going to be a smash hit.

 

[Adoniram]

I'm at 815, 17.99% and 8k limit. I took them up on it because why not. I'll use it here and there, maybe for video game purchases and that's it.

Well at least you could buy a base model Mac Pro, and the stand for the monitor. You'll have to use another card for the monitor itself...

 

[johnnygee]

It would be nice if they got those apoplectic geezers who run Kroger on board.

 

[chairguru22]

I really wish the Apple Card allowed you to export data to a site like Mint.com or other finance trackers. There are other cards/sources of income and expenses that Apple doesn't track for you... Come on Apple!

 

[Cyberpower678]

Apparently not great. I have a credit score of 760 and make over 90 per year and I was declined.

Wow. That's steep.

 

[djphat2000]

I'm at 815, 17.99% and 8k limit. I took them up on it because why not. I'll use it here and there, maybe for video game purchases and that's it.

17.99% and $7,500 limit. Depending on which score they go with, I have about that same score. Plus Debt to income ratio as well.

Give it a few months of general use. I'm sure you can get it up over $10-15k fairly easily if you need it to be.

 

[MacBird]

Can someone clarify this for me: Is daily cash something you have to "cash out" every single day, or is it always there and available whenever you want it? I'm trying to figure out if it means you use it or lose it, or it accrues daily instead of monthly like other cards.

Daily cash just stays in the Wallet app until you use it or transfer it to your checking account.

 

[chairguru22]

Can someone clarify this for me: Is daily cash something you have to "cash out" every single day, or is it always there and available whenever you want it? I'm trying to figure out if it means you use it or lose it, or it accrues daily instead of monthly like other cards.

Apple Cash is in your Apple Wallet and is like a gift card that gets money added to it. People can send you money that way also. So it's kinda like PayPal. You can leave it on there or transfer to your bank account when you want.

 

[agsystems]

It is pretty good as is, but great would be 5% back at Apple, and 3% on everything else. If they really wanted to blow people away, that would be the way.

Uh - why not make it 10% then? These rewards program are counting on some of their customers to go over the limit, and/or fall behind plus annual fees and then Goldman cashing in all the fees associated with that but Apple Card has no fees - obviously that's not our problem but Goldman is taking a huge risk on this deal.

I know Amazon has their 5% card but if you don't have it, Apple would be smart and make a killing extending their 3% there.

 

[M-Life]

Through people that joined the preview, we've found that some people get declined for a "recent" late or missed payment. "Recent" seems to go back up to 7 years however. So if those with a high score were declined, this could possibly be the reason.

Others have been declined for high debt to income ratios. It's not just credit score and income.

 

[Pman17]

I hope they do some 0% APR deal on Macs. Gonna need a new one at some point.

 

[ryanmp]

Anyone know their approval range?

I got 8k and 23.99%.

I'm new to the US and have very limited credit history. Really impressed that Apple/Goldman approved me with that limit given I've been rejected by some for having no credit history.

Not worried about the high interest, as I always pay full statement balances

 

[PickUrPoison]

Apparently not great. I have a credit score of 760 and make over 90 per year and I was declined.

There were some glitches that caused erroneous denials during the early access period. That said, it’s not all about score; there are other factors that can cause a denial.

You might want to try again; there have been reports of low 6’s and even high 5’s being approved but who knows if those are real. But a lot of low 7’s.

 

[jmorrison0722]

Through people that joined the preview, we've found that some people get declined for a "recent" late or missed payment. "Recent" seems to go back up to 7 years however. So if those with a high score were declined, this could possibly be the reason.

Others have been declined for high debt to income ratios. It's not just credit score and income.

This is the case for me. I had a late payment 4 years ago. Still, seems a bit harsh for a consumer credit card.

 

[agsystems]

Daily cash just stays in the Wallet app until you use it or transfer it to your checking account.

Even better if you leave in the Wallet - my kids can be anywhere and ask me for $5-10 allowances and have it appear as ready to use cash in their phones immediately. If you transfer it to the bank, It will appear there in 1-2 days.

 

[PickUrPoison]

I hope they do some 0% APR deal on Macs. Gonna need a new one at some point.

There are rumors of 0% financing on iPhones at least, and other products like Macs wouldn’t surprise me in the least.

 

[magicvash]

Interesting. I’d like more non-travel and non-restaurant options. AMEX gold already gives 4% cashback at restaurants and grocery stores, and Chase Sapphire gives 2 to 3% cashback on travel. Gas stations would be awesome!

 

[macduke]

$17.34 at Apple Store? Is that a joke??

Edit: Whoops, thought that was the purchase price.

 

[Cinch]

For now sadly Apple is not entering the market to disrupt sleazy money skimming company like Visa. At three percent money back means transactional fee is at least that much or more than half way to American Express business model. Businesses I suspect will not respond positively.

If Apple wants to do the right thing, regardless, this is going in the opposite direction.

 

[MacBird]

Even better if you leave in the Wallet - my kids can be anywhere and ask me for $5-10 allowances and have it appear as ready to use cash in their phones immediately. If you transfer it to the bank, It will appear there in 1-2 days.

Good for your kids, they should write a thank you note to Apple.

 

[M-Life]

$17.34 at Apple Store? Is that a joke??

$17.34 is 3% of $577. That seems pretty reasonable at the Apple Store. What's the problem?

 

[whoknows2597]

There were some glitches that caused erroneous denials during the early access period. That said, it’s not all about score; there are other factors that can cause a denial.

You might want to try again; there have been reports of low 6’s and even high 5’s being approved but who knows if those are real. But a lot of low 7’s.

I was approved during the testing period with a mid 500 score, and low limit. Made sense given my limited credit history.

Others have reported that you can appeal if you were not approved and GS will give you a reason why. For some, it was something as simple as an email change, others possibly for a previous bankruptcy or debt.

 

[PickUrPoison]

This is the case for me. I had a late payment 4 years ago. Still, seems a bit harsh for a consumer credit card.

It is harsh, and I’d expect the underwriting criteria to change over time. Of course a single 30 is different from multiple 30s or a 60. If I were you, I’d re-apply every 3-6 months. Can’t hurt.

 

[Cinch]

Interesting. I’d like more non-travel and non-restaurant options. AMEX gold already gives 4% cashback at restaurants and grocery stores, and Chase Sapphire gives 2 to 3% cashback on travel. Gas stations would be awesome!

Businesses respond to AMEX and the likes in two predictable ways (1) take that AMEX and shove it where the sun down shine i.e. refuse to accept it, or (2) raise the price of goods and services by as much if not more.