Apple Card Launching in August

[Robert.Walter]

I don't necessarily agree with this. It really depends on your activity.

I get 3% now from Apple (in store and iTunes) with my BarclayCard, PLUS i have no interest for 18 months when I buy equipment for the college aged kids. I use another card which gives me 2% (and has Apple gift cards as a reward) as my primary card on Apple Pay. This emulates what the new Apple card would offer, PLUS I get the no interest financing on Apple gear.

Barclay Apple Rewards Card is likely to die. Based on Bloomberg this Friday morning, Apple will be able to offer special financing deals, eg 12m free, on the new card.
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I wouldn’t hold your breath...

Goldman Sachs Canada will be surprised to hear this.

 

[Robert.Walter]

Your forgot “brush your teeth before you go to bed”?

Curious why people feel the need to tell other people these things... it’s like everyone’s grandparents are in here?!

It’s good advice. Why knock it? It’s refreshing when some folks on the forum don’t waste time and space of the others being jackasses.
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You logic is perfect and I agree, except for the FACT that the majority of people getting this card will not conform to your ways and means. If they did, Apple would not make any money and therefore would not get into this business...... that is the reality.

Apple is doing this to lock people into eco system. It’s a neutral (not loss) leader designed to not piss off folks. Also as a springboard for future financing ambitions (think car, something in medical.)
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If you have the money, then use debit. In many cases it can cost you a bit more to use credit, and you may get hit with the interest as well. There's really no reason to use it if you have the money.

Seems a tad foolish, to be honest.

But, questioning credit card abuse is almost like questioning the American dream at this point. It's that ingrained in American culture.

Nonsense.

 

[Robert.Walter]

The financial white-knighting Dave Ramsey apostles are getting very tiresome.

At least five others in this thread have expressed the same sentiment prior to you. Redundant and unoriginal.

New rule: Anyone coming in here to bash credit cards has to tell us their net-worth.

And FICO score.

 

[Robert.Walter]

wow your friend really kept over 10K in the account associated with their debit card? thats kind of dumb. usually people with high balances dont keep it tied to the debit card. they transfer it over. but sure lets believe they kept 10K in their checking. sure.

I would imagine that more folks than not do this.

 

[Timemaster]

wow your friend really kept over 10K in the account associated with their debit card? thats kind of dumb. usually people with high balances dont keep it tied to the debit card. they transfer it over. but sure lets believe they kept 10K in their checking. sure.

Honestly keeping 10k in checking seems pretty normal in my world. The fact that 10k sees like a lot to keep in checking says a lot more about your income, and spending patterns. For example my checking account has in it at any moment in time 10-20k most of the time sitting between 10-15k. My wife account has 20-25k of cash in checking at any moment in time.

That sounds like a lot but honestly it more so the accounts can cover with out any income each can stand for 1-2 months and either can take the full load of the other account for expenses.
It sounds like a lot of money until you also see my wife and I spend at 7-8k a month. Mix that with we also have saving and all in all in cash on hand we keep a min of 6 months expenses but more like to sit on 7-8months of cash.
Reason I say all that is to give you an understanding that numbers in accounts are completely relative. 10 years ago 6 months expenses was 10k as I was a single guy out of college.
Also note my wife and I have an income to support our life with out issue still maxing out retirement and saving money.

 

[TheRealDGD]

It’s good advice. Why knock it? It’s refreshing when some folks on the forum don’t waste time and space of the others being jackasses.
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Apple is doing this to lock people into eco system. It’s a neutral (not loss) leader designed to not piss off folks. Also as a springboard for future financing ambitions (think car, something in medical.)
[doublepost=1564745461][/doublepost]
Nonsense.

You may be partially correct about trying to lock people in to the eco-system but you are totally incorrect if you do not think this is ONLY about making money. You only need to go back to Business 101, if a Company does not make a profit they will no longer offer the product or service........ they could care less about YOUR manipulating the system for YOUR own gain with proper financial management, people like YOU are not their TARGET CUSTOMER, car, medical or otherwise.

 

[Cyberpower678]

It's August 2nd, and still no card. Come on Apple you're going to have a riot on your hands soon.

 

[konqerror]

Fun fact, the California PUC negotiates with utilities to determine rates. People with bad credit scores don't pay any more than people with great credit scores. Rates are determined by usage tier, not by ability to pay.

The rates are publicly published and cannot be increased by the utility companies without authorization by the California PUC. These rate increase reviews are open to public comment.

That's California, a retail-regulated utility state. (Certain large consumers of power are deregulated, but as a retail customer, you're stuck in the monopoly) California completely screwed up deregulation, see the rolling blackouts and the subsequent recall of Gray Davis. In fact, California's utilities are still completely screwed up, see what's happening to PG&E.

In retail-deregulated energy states, like Texas or New Hampshire, you can be offered different utility plans based on credit score and contract length. You can also choose renewable energy only suppliers, etc.

It makes good sense: people who are responsible should not bear the cost of deadbeats who don't pay their bills.

 

[HutNews]

Is it Citi Visa or AMEX?

 

[TechGuy327]

Is it Citi Visa or AMEX?

The Costco credit card is a Citi Visa.

 

[blueracer]

I would imagine that more folks than not do this.

i dunno. i've worked at capital one bank as a teller and those with very high balances were kept in a separate account to accrue the high interest, and would transfer any funds to their normal checking account that was connected to a debit card. it's the smarter way to do it honestly.