Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Apple Card Rolling Out Today to Limited Number of Customers

Newtons Apple said:
Still glad I cancelled the card, you enjoy giving you bank info out like candy, I will not.
Click to expand...

Maybe your application process was different than mine, but at no point did I give any bank info. I also chose not to have it as my default card and several days later it's still not the default card.

And since I haven't had a credit card in years, the ridiculously low APR was hard to pass up......not that I'll ever carry a balance anyway.
 
Lee_Bo said:
Maybe your application process was different than mine, but at no point did I give any bank info. I also chose not to have it as my default card and several days later it's still not the default card.

And since I haven't had a credit card in years, the ridiculously low APR was hard to pass up......not that I'll ever carry a balance anyway.
Click to expand...


You do not have to give your bank information until it is time for a payment on the account.

As far as Interest, even Apple best rate is almost double what I pay on Wells Fargo.
 
liftedpsd2010 said:
Why you paying interest in any card? Pay it off!!! Smart people don’t carry over balances. If you were so worried about your bank info why didn’t you create a hank account just to make the payment? I mean quit making excuses. Are you not smart enough to figure it out? Lol your credit is going to get dinged for 6.99 cause you don’t want to give your bank account info. Lol moron
Click to expand...

Who said I pay interest?

There ARE people here that will pay interest!

I have not in years.
 
Newtons Apple said:
You do not have to give your bank information until it is time for a payment on the account.
Click to expand...

Yes, but you have to do that with ANY credit card. Heck, you have to do that with ANY monthly recurring bill you have. And if you have direct deposit (with most people do), you employer has that info. Do you swipe your Wells Fargo card at the gas pump? That info is recorded somewhere.
 
If you have lots of money in the bank they do not charge that.
[doublepost=1566391315][/doublepost]
Lee_Bo said:
Yes, but you have to do that with ANY credit card. Heck, you have to do that with ANY monthly recurring bill you have. And if you have direct deposit (with most people do), you employer has that info. Do you swipe your Wells Fargo card at the gas pump? That info is recorded somewhere.
Click to expand...

I am the employer so direct deposit is not applicable here.

When I swipe my card at the local BP, it does not give them my banking info.
 
tcoche said:
How come some of you are making payments already when a statement hasn’t generated!?? If you want your credit affected positively, wait for a statement to generate then make your payment. My AC was opened the 1st day preview notices were sent out on 08/06. I do not have a statement yet. Once I see the statement generated, paying it off.
Click to expand...

that is false. making payments all throughout the month before a statement is fleshed it will not hurt your credit. what nonsense are you spewing here?
[doublepost=1566401033][/doublepost]
cmaier said:
“Sneaky Apple?”

They DEFINITELY warn you - they ask you if you want to make it the default, and you have to tap a specific button to make that happen. They definitely do NOT do it by default.

And you do not have to give Sachs access to your bank account.
Click to expand...


sounds like he didn't read any of the application process. apple is not being sneaky, your just not reading anything like you should be.
[doublepost=1566401256][/doublepost]
Newtons Apple said:
You do not have to give your bank information until it is time for a payment on the account.

As far as Interest, even Apple best rate is almost double what I pay on Wells Fargo.
Click to expand...

i'm sorry, are you saying wells fargo is offering you 5.99 interest rate on your credit card? where does it say that on their website? i see interest ranges from 15.99% to 27.99%
 
Hey guys I’m another “pay off in full before statement closes” person. I applied today and it says my first payment will be September 30th if I use it this month. Do you guys think there’s a way to figure out the statement date? I feel like maybe 2 or 3rd of September but I don’t know...
 
blueracer said:
that is false. making payments all throughout the month before a statement is fleshed it will not hurt your credit. what nonsense are you spewing here?
[doublepost=1566401033][/doublepost]
Click to expand...

Not once did I say it negatively impacts your credit. I was simply stating to pay the bill in full before the due date once the statement generates. You will avoid interest and it will maximize a positive credit history.

Now read next time before you spew!
 
  • Like
Reactions: newellj
blueracer said:
that is false. making payments all throughout the month before a statement is fleshed it will not hurt your credit. what nonsense are you spewing here?
Click to expand...

Your credit score is positively influenced by activity on the card. Cards which consistently report a $0 balance will eventually be treated as inactive and will provide less benefit to your credit score. For most cards, the balance that is reported on your credit report is the balance on the day that the statement period ends and your bill is generated. If your card balance is $0 on that day because you have aggressively pre-paid, then the card is indistinguishable from a card that you didn't use at all.

Not all cards work that way, it is mostly determined by the card issuer. Some report current balance more frequently, and I'm sure some report even less frequently. The most common situation, though, is where the only balance that matters is the current outstanding balance on the day the statement is generated.

This is why the common advice is to simply use the card as you normally would, wait for the bill, and then pay it on or before the due date. In this way you are covered by the grace period, you pay 0% interest, and you have the best chance of the card's balance correctly representing that you have been using the card.

The one scenario where this advice does not make sense is if your credit utilization is high and you'd rather see a lower balance reported so that your overall credit utilization remains low. If you spent close to the credit limit during a billing period it might make sense to pre-pay some or all of that amount so that your utilization stays sane.
 
  • Like
Reactions: AutomaticApple, PickUrPoison, aristobrat and 1 other person
Nugget said:
Your credit score is positively influenced by activity on the card. Cards which consistently report a $0 balance will eventually be treated as inactive and will provide less benefit to your credit score. For most cards, the balance that is reported on your credit report is the balance on the day that the statement period ends and your bill is generated. If your card balance is $0 on that day because you have aggressively pre-paid, then the card is indistinguishable from a card that you didn't use at all.
Click to expand...

So, if I enable Apple Card's automatic pay-off feature (pay full balance when due), that would be "bad"?
 
paulbart said:
So, if I enable Apple Card's automatic pay-off feature (pay full balance when due), that would be "bad"?
Click to expand...

Really depends on utilization. If you're running more than 10-20% of the credit limit, it'd probably be better to pay it more frequently.
 
Feenician said:
Really depends on utilization. If you're running more than 10-20% of the credit limit, it'd probably be better to pay it more frequently.
Click to expand...

Well, based on what @Nugget was saying, it sounded like if I pay-off the card before a balance is reported to the agencies, it would always be seen as a "$0" balance (0% utilization). So, auto-pay-off of entire balance on the statement date may never report any utilization to the agencies (regardless of utilization mid-month/etc).
 
  • Like
Reactions: blueracer
paulbart said:
Well, based on what @Nugget was saying, it sounded like if I pay-off the card before a balance is reported to the agencies, it would always be seen as a "$0" balance (0% utilization). So, auto-pay-off of entire balance on the statement date may never report any utilization to the agencies (regardless of utilization mid-month/etc).
Click to expand...

As someone noted, cards can be checked more than once a month. There isn't a hard and fast rule there. It's always best to keep the utilization at any given time below 20%, or even below 10% ideally. That way, no matter when the balance is reported, you're good.
 
  • Like
Reactions: paulbart
tcoche said:
How come some of you are making payments already when a statement hasn’t generated!?? If you want your credit affected positively, wait for a statement to generate then make your payment. My AC was opened the 1st day preview notices were sent out on 08/06. I do not have a statement yet. Once I see the statement generated, paying it off.
Click to expand...


you said if you want your credit affected positively....so obviously if you pay before a statement is generated your saying it wont be affected positively. but making payments all throughout the month does not affect your credit. if people were to wait for their statement to be generated, it's usually just around the corner when your bill is due, most dont want that, most want to pay more often so they aren't stuck with a bill at the end. not many can just lump sum a large payment when a statement is due. now if you can do that, kudos, but the rest of us usually pay at the minimum twice a month towards their credit card bill.
[doublepost=1566419107][/doublepost]
paulbart said:
Well, based on what @Nugget was saying, it sounded like if I pay-off the card before a balance is reported to the agencies, it would always be seen as a "$0" balance (0% utilization). So, auto-pay-off of entire balance on the statement date may never report any utilization to the agencies (regardless of utilization mid-month/etc).
Click to expand...

i would ignore what he said because if it were true, i'd prolly have very lil credit since i always make multiple payments throughout the month. i dont want for a statement to be generated. the banks know how much i'm using in credit every day, my record of payment is proof enough.
 
blueracer said:
i would ignore what he said because if it were true, i'd prolly have very lil credit since i always make multiple payments throughout the month. i dont want for a statement to be generated. the banks know how much i'm using in credit every day, my record of payment is proof enough.
Click to expand...

What I said is absolutely true. Your credit report -- and as a consequence your credit score -- cannot tell that you're making multiple payments a month. Your card issuer can see this activity, but "the banks" cannot. You run the risk of your card appearing inactive if the credit report happens to be updated on a day where you are at a $0 balance. That's just how it works. This won't have a negative effect on your credit score but it does mean that your score might not be as high as it would be if you were using and paying your credit card the way most people do. In effect, you won't be getting any credit for being a reliable borrower because your credit report won't reflect the reality of how you are responsibly using the card.
 
  • Like
Reactions: tcoche
Nugget said:
What I said is absolutely true. Your credit report -- and as a consequence your credit score -- cannot tell that you're making multiple payments a month. Your card issuer can see this activity, but "the banks" cannot. You run the risk of your card appearing inactive if the credit report happens to be updated on a day where you are at a $0 balance. That's just how it works. This won't have a negative effect on your credit score but it does mean that your score might not be as high as it would be if you were using and paying your credit card the way most people do. In effect, you won't be getting any credit for being a reliable borrower because your credit report won't reflect the reality of how you are responsibly using the card.
Click to expand...

This simply isn’t true. You’ll notice “pays as agreed” with green check marks on each under each account whether you run a balance or not. The key is to not have any past 30 days payments.

It’s really irrelevant whether you pay off the card before it closes for the month or only the statement balance except if it would screw with your utilization percentages.
 
  • Like
Reactions: blueracer
cardfan said:
This simply isn’t true. You’ll notice “pays as agreed” with green check marks on each under each account whether you run a balance or not.
Click to expand...

Please read my previous post regarding reported current balance. That's what we are discussing, not whether or not the payments are reported as on time. Cards with consistent $0 current balance will stop influencing your credit score due to being considered inactive. The discussion is only a handful of posts above, you should be able to find it.
 
Newtons Apple said:
Sachs will not have access to my banks, period.
[doublepost=1566378314][/doublepost]

Ummmmm

Excuse me. I do not remember it asking but like others said, it must have.

Still glad I cancelled the card, you enjoy giving you bank info out like candy, I will not.
Click to expand...

Seems a bit irrational.
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back