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

[izzle22]

Agreed, and I enjoy doing that with 0% interest and no risk.



Sure, I'll concede that in the 'gain' column, you get 1% to 3%, and I don't. But it's some twisted logic to claim I'm "throwing money away" when you have to spend $3k to get that in the first place. If we both spend $3k, you get $30 and I don't. But in the other column, those interest rates are looming.

I don't know where you're from (and it's a similar story the world over) but the facts in America are: the average credit card debt is over $5k and most people don't pay off in full each month. If you're in the minority that do, great - enjoy your 1% payout. But that just isn't how it works for most people.



And if you're happy to make illogical arguments to justify taking risks with your money and getting into debt, all because 1% cash back and titanium etching is such a big deal to you, go right ahead. I don't care to "educate" anybody, but the facts are the facts.

Americans - for example - now owe more than $1 trillion on credit cards alone.

Enjoy your $30!

Myself and most people I know use their credit cards for the points and points only. I pay all my bills possible on a credit card for the points and pay them off every month never accruing interest. I AM getting money from this that you aren't and I AM paying the same amount as you.

I could see this being an issue if I paid an extra 3% for using my credit card that you aren't when using a debit card or cash. That is clearly not the case. I used to only use my debit card for everything and realized I was leaving money on the table.

I have found that most people who don't use credit cards and argue the benefits are usually the ones who were not financially responsible in the first place and had debt written off. These people now hate credit cards, are scarred from the experience and will never use them again.

You can't argue people who are so against credit cards as they think credit cards are "of the devil" and anyone that uses them are stupid. They essentially think(or hope) anyone who uses a credit card will be as financially irresponsible as they were when they went into debt.

I know a couple of these type people and they only carry cash and have no credit cards, only a debit card. They refuse to have credit cards and their credit score suffers from this. After finally digging themselves out of debt they swear off cards fearing the potential fall into debt. Kinda like a recovering alcoholic.

 

[kupkakez]

I got the 12.99% and $10k a couple weeks back. My husband applied last night, similar credit score to mine low 800s, he just doesnt have the load of student loans I have and he got $7500 at 17.99%.

It truly seems random lol

 

[truthertech]

I got the 12.99% and $10k a couple weeks back. My husband applied last night, similar credit score to mine low 800s, he just doesnt have the load of student loans I have and he got $7500 at 17.99%.

It truly seems random lol

No, people just get confused because they think it is all based on your credit score, when it's not. The finance industry is about the opposite of random that you can get. They have developed formulas to keep them afloat, and they know precisely who, on average, with your financial characteristics is a greater risk. For example, if you have had student loans and been paying them off, that's a plus that your husband doesn't have. He might have different job history, salary, more recent credit, etc., etc.

 

[kupkakez]

No, people just get confused because they think it is all based on your credit score, when it's not. The finance industry is about the opposite of random that you can get. They have developed formulas to keep them afloat, and they know precisely who, on average, with your financial characteristics is a greater risk. For example, if you have had student loans and been paying them off, that's a plus that your husband doesn't have. He might have different job history, salary, more recent credit, etc., etc.

That could be. No idea.

As far as I know Netflix doesn’t offer in-app subscription any more, at least not in the US.

Mine charges through iTunes and I live in Texas

 

[lartola]

As far as I know Netflix doesn’t offer in-app subscription any more, at least not in the US.

I believe Apple has been requiring for a while already that all subscriptions to services to be used on their devices be managed through iTunes. I have subscribed to Tennis TV in the past and it's the same policy as with Netflix: the subscription has to be managed in iTunes.

 

[lartola]

I think you're quite mistaken and undermine the emerging market that Uber operates in. Though cash is still king in India, the urban financial landscape has drastically changed overtime. I personally do not know anyone who relies on cash to pay for their cabs or day to day transactions. People are using mobile wallets, credit cards, etc. more than ever before. Merchants who didn't accept credit cards are now accepting mobile wallets. There will always be a class of people, mostly the older generation who will be wary of plastic money.

Using cash is not the parameter for the "backwardness" of people. That is just a stupid argument to even make. Some of the most mature economies, such as Germany, still primarily deals in cash and are wary of plastic money.

There are reasons beyond one's ignorance to equate usage of cash as backwardness and it frankly speaks of your lack of exposure and knowledge.

Frankly, what a dumb ass racist comment to make.

Speak for other countries. Here in Mexico, I do know lots of people who still rely on cash for their cabs or day to day transactions (actually most people here do). When I go to a movie theater in Mexico, for instance, I usually see lots of people in the regular booth buying their tickets with cash, while the self service kiosks that can only take credit or debit cards are usually empty. Even during peak times. Or at fast food joints such as KFC or Subway, I see 9 out of every 10 customers paying with cash even though the places do take credit and debit cards. Electronic payment is very unpopular in Mexico because the country is so corrupted that people are too distrusting to use anything other than cash. And then there are some others who also prefer cash because they are trying to avoid taxes or don't want to leave any traces of their transactions. Mexico is definitely backwards. I can't speak for other countries, but Mexico definitely is backwards due to its own corruption.

BTW it's not a subtle point you just made.

 

[gmanjeff]

Mine charges through iTunes and I live in Texas

FYI... From the Netflix billing FAQs page: iTunes billing for Netflix is not available to new or rejoining Netflix customers. If you are currently billed by iTunes, you can continue to use iTunes billing until your account is cancelled.

 

[gmanjeff]

How do you subscribe to Netflix via iTunes?

From Netflix billing FAQs: https://help.netflix.com/en/node/25097

"iTunes billing for Netflix is not available to new or rejoining Netflix customers. If you are currently billed by iTunes, you can continue to use iTunes billing until your account is cancelled."

 

[kupkakez]

FYI... From the Netflix billing FAQs page: iTunes billing for Netflix is not available to new or rejoining Netflix customers. If you are currently billed by iTunes, you can continue to use iTunes billing until your account is cancelled.

FWIW I had T-Mobile which included netflix. Cancelled that in July 2019 and was able to pick that back up in iTunes in July.

I had thought the same thing so no idea why it works. Maybe because it was never cancelled? But there was a small lapse between the time I noticed T-Mobile was done picking up the tab and I had to.

 

[E30Gee]

Has anyone heard anywhere if Apple is going to offer Special Financing towards Apple hardware purchases with the Apple Card? I thought they'd release more details on launch.

 

[Feenician]

Has anyone heard anywhere if Apple is going to offer Special Financing towards Apple hardware purchases with the Apple Card? I thought they'd release more details on launch.

There's a number of places in the T&Cs that talk about "financing plans" and how, for example, they wouldn't figure in interest calculations. Suggests they've at least thought about doing this. Maybe they'll add it down the line.

 

[PickUrPoison]

Has anyone heard anywhere if Apple is going to offer Special Financing towards Apple hardware purchases with the Apple Card? I thought they'd release more details on launch.

I suspect there may be an announcement regarding 0% financing at the September 10th event.

 

[truthertech]

I suspect there may be an announcement regarding 0% financing at the September 10th event.

That's interesting, but unlikely if it involves the Apple Card, as it would mean that Apple was not only giving up 3%, but up to 28% in lost interest payments, as people would have no reason to pay off phone if Apple is going to offer interest free and someone has to subsidize the lost interest on hundreds of billions of dollars in phone purchases. The loaned money is coming from Goldman Sachs, not Apple.

 

[rldunn]

Do you mean that's not how Apple Card's virtual CC number feature works? Because I have a CC with a bank that allows me to generate as many virtual CC numbers as I want and whenever I want. I also can set an expiration date for the virtual # and even a max dollar amount.

By setting a max dollar amount (or even exact dollar amount), it is basically a 1 time use virtual CC #

Yes, that's not how Apple's version works. A card number and expiration date are assigned to you, which you can get from the Apple Card info section in Wallet. You can change the number at any time (I haven't tried changing mine yet), but it's not designed to be changed constantly. Or to generate specific numbers for specific merchants. It's more just an easy way to change the permanent number.

 

[iScone]

There are are no "interest rates looming" if you pay off your balance every month.

Agreed, if you pay off your balance every month. My point is that while you can do that now, what happens when things change and you can't? That's what most people out of their depth experienced. Most people don't think it'll happen to them. Interest rates are looming when you can't make your payments, through no fault of your own.

What do "most people" have to do with you? If you're responsible enough to use a card wisely and pay it off every month, why would you care or even think about what most people do? If most people are irresponsible with their credit card use, that's going to stop YOU from the benefits of using one? That's some twisted logic.

No. What's irresponsible, or at least morally vacuous, is the assumption that debt = irresponsibility. Live a little and you'll discover how desperately naive that is. It's important to consider what most people experience, because the likelihood is you'll be most people one day. Do you really need this explaining to you?

 

[lartola]

Yes, that's not how Apple's version works. A card number and expiration date are assigned to you, which you can get from the Apple Card info section in Wallet. You can change the number at any time (I haven't tried changing mine yet), but it's not designed to be changed constantly. Or to generate specific numbers for specific merchants. It's more just an easy way to change the permanent number.

I believe Apple's method is also intended to avoid making people wait for a new physical card to arrive by mail when their card number is compromised. Instead of requesting a new card to be sent to you, you just generate a new number in Wallet and that's it.

 

[JBGoode]

I believe Apple has been requiring for a while already that all subscriptions to services to be used on their devices be managed through iTunes. I have subscribed to Tennis TV in the past and it's the same policy as with Netflix: the subscription has to be managed in iTunes.

My Netflix account is not managed by iTunes

My HBO Now account is not managed by iTunes

My Amazon Prime TV is not managed by iTunes (obviously)

 

[Phone Junky]

Agreed, if you pay off your balance every month. My point is that while you can do that now, what happens when things change and you can't? That's what most people out of their depth experienced. Most people don't think it'll happen to them. Interest rates are looming when you can't make your payments, through no fault of your own.



No. What's irresponsible, or at least morally vacuous, is the assumption that debt = irresponsibility. Live a little and you'll discover how desperately naive that is. It's important to consider what most people experience, because the likelihood is you'll be most people one day. Do you really need this explaining to you?

How convenient you ignored the other parts of my post referring to using a credit card to pay for your normal monthly expenditures. Forget about using it as a means to buy something you really can't afford. Using it for expected payments and buying necessities and paying off every month nets you some money back. Easy to do. Not scary. Not evil. I will not get into any financial trouble using it this way. You and your "most people" argument are moot. I am not most people and a credit card is not a free pass to spend frivolously.

 

[danpass]

Anyone know how much you get back when using a random credit card generated number? Meaning Amazon doesn’t use Apple Pay and I can’t use my physical card so I’d use the Apple Card app to create a credit card number. Does that count as 1% or 2% cash back?

this has probably been answered a few times already lol .... in the wallet app click the 3 dots and go to card information. That'll provide the card number/expiration/cvv

 

[danpass]

that reminds me .... [changes default card in itunes]

I didn't even have to copy/pasta the card number, it just pulled up what is in the Wallet app to choose from when adding another card

 

[lartola]

My Netflix account is not managed by iTunes

My HBO Now account is not managed by iTunes

My Amazon Prime TV is not managed by iTunes (obviously)

Then I was wrong in what I believed. Thanks for clarifying.

 

[afasst67]

I think you are the big winner so far, my wife and I got 10k @ 12.99% (I haven't seen anyone with a lower APR)

I got 10k at 12.99%. Score is 875. But rates don’t matter, as I pay in full each month.

 

[Dimwhit]

Has anyone heard anywhere if Apple is going to offer Special Financing towards Apple hardware purchases with the Apple Card? I thought they'd release more details on launch.

I think they're going to do stuff like this for promotions down the line. Buy a Mac during XX month and get no interest for 12 months...that type of thing. There is actually a lot Apple can do by having their own credit card. Promotions, special bundle offers on subscriptions, etc. It will be interesting to see what they come up with.

 

[truthertech]

I think they're going to do stuff like this for promotions down the line. Buy a Mac during XX month and get no interest for 12 months...that type of thing. There is actually a lot Apple can do by having their own credit card. Promotions, special bundle offers on subscriptions, etc. It will be interesting to see what they come up with.

Challenge will be to get concurrence of Goldman Sachs and others. Remember that Apple isn't the money behind the card, so they can't simply make deals that impact GS returns, so something like no interest on purchase of a Mac would presumably mean Apple would have to reimburse GS for that cost. Similarly, presumably Uber agreed to give up the 1%.

 

[R3k]

Enjoying using it so far. Have auto pay set to pay off my balance every month and am using it instead of my debit card with Apple Pay. Sweet sweet cash back. Apples idea that this will increase Apple Pay use definitely works. Good for Apple and good for the consumer (if used sensibly)

770 17.99% 9k
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Anyone know how much you get back when using a random credit card generated number? Meaning Amazon doesn’t use Apple Pay and I can’t use my physical card so I’d use the Apple Card app to create a credit card number. Does that count as 1% or 2% cash back?

1% using the card (virtual or physical)

2% when you use -actual- Apple Pay

3% on Apple goods and select merchants (Uber)