Apple Card Launched Three Years Ago, Remains Exclusive to U.S. Residents

[szw-mapple fan]

I haven’t thought of actually getting an Apple Card. Guess I think I don't a different credit card experience. Works fine, no problems.

Curious: for those who switched, is it really worth it and why?

The Apple Card is only really worth it when you buy something from the Apple Store for the 3% back. Other people might also like it because you still get the 3% even if you finance the purchase, unlike other cards that gives a choice of rewards or installments. Elsewhere I choose my cards based on how much cash back I can get at each merchant.

 

[Coochie Boogs]

I use this card quite frequently, along with Venture X. It’s a nice card to use, eventually they will expand it to other countries.

 

[szw-mapple fan]

Genuine question from someone not living the US - is there an interest free period or is it from day one? Where I live we have around 60 days free interest, meaning if you pay everything bought with the card the previous month, you get no interest on it. Is it same for US?

In the US cards start accruing interest after the first month if it’s not paid off. But, there are also interest-free installment plans for many credit cards where you can pay something off over the course of 6-12 months but forgo the cash back reward. If you have balance left over after that promotional period the 6-12 months worth of interest percentage will be applied to what you have left to pay.

 

[BurgDog]

I use it only for Apple purchases for the 3% rebate which posts a few days after the purchase, unlike other cards where you have to wait to the end of the billing period to get it. I put all my Apple stuff on it, recurring charges too, and pay them off immediately after the rebate posts and any return period is over.

Also, when you buy things that have trade-ins, you get the value of the trade in immediately if you pay with their installment plan. I pay that off too when the return period is over, trade-in accepted, and the rebate has posted.

 

[iGeek2019]

Don’t think this will be possible in the EU if Apple keeps on keeps hard tying digital services into iOS to enter, rival services if not over throw competitors in markets tangent to their OS and hardware business.

Plus the cap on interchange fees means we’d probably see lower cash back rates compared to those Apple offer in the U.S.A?

 

[foldpages]

You mean like rent?!?
Wife left and now I’m stuck with the whole amount. Can’t afford to move. Can’t afford to stay.

Buy my Apple gear using Best Buy credit. 0% for either a year or 18 months.

No offense as I don't know your personal circumstances, but if you are struggling to pay rent, don't buy expensive Apple gear on credit?

 

[NYCValkyrie]

I haven’t thought of actually getting an Apple Card. Guess I think I don't a different credit card experience. Works fine, no problems.

Curious: for those who switched, is it really worth it and why?

I don't think anyone "switched" but added to their rotation of cards. I use it exclusively for Apple/App Store/Mac App Store payments and pay it off every month. My Chase Sapphire Reserve is better for everything else, also paid off every month. If there's something big I DO need to carry a balance for, I'll charge it to the Chase for the points and then balance transfer to my Credit Union card for 8.99% APR. AMEX Plat is used for all work expenses I will either be reimbursed for or can write off.

 

[sbuntin]

Remains unused by me due to high interest rate. Plenty of other card I have are much better.

No credit card interest rate is worth carrying a balance. Pay it off every month and the interest rate doesnt matter.

 

[sbuntin]

I don't think anyone "switched" but added to their rotation of cards. I use it exclusively for Apple/App Store/Mac App Store payments and pay it off every month. My Chase Sapphire Reserve is better for everything else, also paid off every month. If there's something big I DO need to carry a balance for, I'll charge it to the Chase for the points and then balance transfer to my Credit Union card for 8.99% APR. AMEX Plat is used for all work expenses I will either be reimbursed for or can write off.

Anything I need to carry goes on one of the 0% offers. Works out to 3-5% with the fee, but still miles ahead of any normal card rate.

 

[NYCValkyrie]

Anything I need to carry goes on one of the 0% offers. Works out to 3-5% with the fee, but still miles ahead of any normal card rate.

I've pretty much run through all the credit cards for the 0% intro offer at this point but I haven't had to carry a balance on anything in a long while so not worth it since I'd end up paying it off within 6 mo or less anyway as a personal finance rule. But my Reserve points are redeemable for 1.5x for travel so in the end it's a better value for me. Everyone has their method though.

 

[visualseed]

I still encounter places that are confused by the card or outright refuse to accept it. Really don’t understand why

I don't usually hand it to merchants or waitstaff, but I sill stick it in POS terminals without asking if it's accepted first and It has always worked. At the end of the day it's a Mastercard and SHOULD be accepted anywhere Mastercard is accepted, but I realize some small banks do weird things on the backends of their payment processing systems and leave merchants to deal with the fallout.

 

[jayducharme]

To pay it off early you have to goto where your installments are listed. Click on the installment you want to pay off early and then scroll all the way to the bottom and click the “pay early” button.

How to view and pay Apple Card Monthly Installments - Apple Support

Learn about Apple Card Monthly Installments, view them in Wallet, and see how to pay each month.

support.apple.com

Thanks. That's not exactly intuitive, but it's good to know.

 

[8CoreWhore]

Glodman Sachs is terrible... Apple made a huge mistake going with them. Do not buy anything that has any chance of needing to be returned.

 

[Morgenland]

Glodman Sachs is terrible... Apple made a huge mistake going with them. Do not buy anything that has any chance of needing to be returned.

What do you think makes this bank worse than all the others? Strictly speaking, I can't think of anything in particular.
In Europe almost ALL banks are organized anti-competitive so Apple/Sachs has not had a chance so far.

 

[sheriff_deadeye]

it's a great concept and I like the physical card and potential cash rewards, but apple needs to seriously revisit the app:

- 'Current Balance' is not actually the current balance. any purchases from the apple store using the card and the 'monthly installments' option are not reflected in the balance. instead, 'current balance' only shows the minimum payment due for that month. if you have already made that payment, the balance shows $0.00

- the balance of the monthly installments items is buried in a sub menu

- the required minimum payment for an installment item shows up automatically as a new charge each month

- to pay off an item that is on monthly installments, you cannot just 'make a payment.' you have to go the installments sub menu and select 'pay early' even as your balance shows $0.00 since it does not reflect outstanding installments.

- cash rewards are reflected on a separate card in your wallet

- when a return is made, the corresponding cash reward shows as a new charge on the card. So if you earn a $5 cash reward on an item and then return that item...the $5 reward goes to the separate cash reward card in your wallet, and a new charge of $5 shows up on your card. It should just be a $5 reward on your Apple Card followed by a -$5 offset.

- in the app, the same charge will show under the 'previous statement' and 'most recent activity' making tracking activity difficult

All that to say...the card is advertised as easy to use and can help you track your spending, but you will need to create a spreadsheet with all the transactions, current monthly installment totals, cash rewards and cash rewards returns offsets just to figure out the actual real balance.

 

[Morgenland]

it's a great concept and I like the physical card and potential cash rewards, but apple needs to seriously revisit the app:

- 'Current Balance' is not actually the current balance. any purchases from the apple store using the card and the 'monthly installments' option are not reflected in the balance. instead, 'current balance' only shows the minimum payment due for that month. if you have already made that payment, the balance shows $0.00

- the balance of the monthly installments items is buried in a sub menu

- the required minimum payment for an installment item shows up automatically as a new charge each month

- to pay off an item that is on monthly installments, you cannot just 'make a payment.' you have to go the installments sub menu and select 'pay early' even as your balance shows $0.00 since it does not reflect outstanding installments.

- cash rewards are reflected on a separate card in your wallet

- when a return is made, the corresponding cash reward shows as a new charge on the card. So if you earn a $5 cash reward on an item and then return that item...the $5 reward goes to the separate cash reward card in your wallet, and a new charge of $5 shows up on your card. It should just be a $5 reward on your Apple Card followed by a -$5 offset.

- in the app, the same charge will show under the 'previous statement' and 'most recent activity' making tracking activity difficult

All that to say...the card is advertised as easy to use and can help you track your spending, but you will need to create a spreadsheet with all the transactions, current monthly installment totals, cash rewards and cash rewards returns offsets just to figure out the actual real balance.

Poll: Can anyone confirm most of the app issues?
(YES = thumbs up // NO = down)

 

[Unregistered 4U]

Remains unused by me due to high interest rate. Plenty of other card I have are much better.

You requested one and received it just to have it? Well, at least you know if you ever have a need for a small amount of Titanium, you’ve got it!

 

[starman111]

I haven’t thought of actually getting an Apple Card. Guess I think I don't a different credit card experience. Works fine, no problems.

Curious: for those who switched, is it really worth it and why?

I really like my Apple Card. I get 2% back on all Apple Pay purchases, and 3% back on Apple products. The cash back rules are super simple. The cash instantly appears in my Apple Cash wallet. The built-in app is very straightforward and easy to use. I just love the simplicity of it.

 

[JDHiro]

Apple Card perks are OK, and it's convenient that it's automatically setup on any new Apple device I get - whereas I have to do some work to re-add my AMEX.

It's also great for the 0% APR on Apple purchases.

The physical card has never left my drawer.

 

[sheriff_deadeye]

Poll: Can anyone confirm most of the app issues?
(YES = thumbs up // NO = down)
View attachment 2043782

Fwiw, here are some screenshots showing:
-2 separate cards- one apple Card and one ‘cash reward card’
-the cash reward charge resulting from the return
-the installment screen flow/sub menu
-the installment showing complete (I’ve already paid the true balance to $0, so I cannot show a screenshot that shows the $0 balance event when there are outstanding installment balances. However this is where you view a completed installment purchase rather than the main screen where ‘balance’ is shown. )
-..and…when making a purchase such as an iPad that includes a ‘gift card’, the gift card shows as an installment purchase. If you return the iPad, the gift card is not cancelled. You will still need to pay for the gift card and will own it)

 

[Wags]

In the US cards start accruing interest after the first month if it’s not paid off. But, there are also interest-free installment plans for many credit cards where you can pay something off over the course of 6-12 months but forgo the cash back reward. If you have balance left over after that promotional period the 6-12 months worth of interest percentage will be applied to what you have left to pay..

 

[onenorth]

👀 read Apple Card launched 3 years ago
🧠 read Hyper Card launched 30 years ago (~)
😵‍💫🙄

I used to code HyperCard apps. Man I'm old.

 

[The_Auryn]

When I got mine, the rate was 10.99% (which was pretty low). It's up to 13.24% now, but that's due to Fed interest rate hikes and every lending institution has went up by that much.

What rate do you rate on other cards?!?

My current APR on my cards are:

Bank of America Visa Traveler Rewards 19.24%
Capital One Mastercard 18.65%
Citibank Mastercard 24.49% (talk about usury)
Chase Visa 14.99%
Apple Card Mastercard 18.24% (started off at 15.99% when I first got it in March of 2021).

Should mention my current FICO score runs around 810, give or take a few points up or down each month. But I pay off every bill in full every month for the last twenty years (what the credit card companies call a 'deadbeat' because I don't pay them interest).

Still, I remember the days before 2007-9 when Congress passed the "Consumer protection act" Remember that one? Most interest rates on credit cards were 5-8%, because they made their money on all those idiots buying hot tubs with no way to pay for it. After that bill was passed, never saw a rate below 12% again.

In fair disclosure, I only have "reward" cards, which most institutions expect to be paid off every month in exchange for the "generous" rewards

 

[farmboy]

I am sure it is in Russia by now.

Yes, "Special Wealth Appropriation Operation". Is not war.

 

[happydude]

Interest rate should not matter, as you should be paying the entire balance off every month.

that's a pretty one sided, privileged look at life. so many people cannot pay them off, are in a hard spot and credit is the only way they can get by, or make a large purchase and can't take the immediate financial hit.

if everyone paid off their cards every month, there wouldn't be any credit card companies. it's how they make their money. you saying too that businesses shouldn't take out loans with interest rates if they can't pay all cash up front. did you pay for your house in one shot? credit is the backbone of our financial and economic system.

statements like this are just so unhelpful and demonstrate the blinders you have on going about your day to day. try looking outside your bubble.