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Apple Card Rumored to Face 'Oppo Card' Competitor
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I must have used my Apple Card for something .. judging from the amaount of Apple Cash. The trouble with "Oppo" is it sounds too much like "Apple". Anyone who has done their Oppo research ought to know that. Also beware of a better introductory rate ... when they cut it back later on, you'll be getting an "Oppo Cut". 🍸 🙀🍸😹
Never in the form that it exists in the US, sure. But if Apple decides than an entry into financial services in the UK and adding a card to its services offering was worthwhile, I'm sure they would find a way to make that work.
When I was young used to think the phrase "upper cut" was "apple cut", i.e. a punch so hard it could cut an apple in half.
Apple entered the US market because they got to show off their fashionable card without any meaningful cost to themselves. It wouldn’t be worth their effort to enter a properly regulated financial market. They might end up having to declare their real earnings and taxes.
I use it solely to buy Apple products. It gives 3% cash back and you get 0% financing. Most cards will give you one or the other but rarely both, outside of special promotions.
That said, I like the payment UI and how it tells you how much interest you'll pay depending on the size of your payment.
Same here, though my Amex cash back rate drops from 1% to 0.75% in August. Still free money though I guess. that’s the £25 annual fee Platinum Amex, but still mounts up each year.
Cadillac is luxury division of Chevrolet (General Motors). Same company you're probably not from US.
i may not know the company structure as well as you, but i was under the impression that chevrolet, as cadillac are both a part of general motors among several other brands, such as gmc. have no knowledge of chevrolet owning cadillac, but again — i never studied gm
and no — i'm not from the us, but have spent most of my life here)
Paying a fee for a credit card is uncommon here. I think cashback is uncommon too, My bank used to offer 0.25% cashback, but that was scrapped in December. I have two other cards for specific purposes and they have never offered any.
The main market difference is that the fees card issuers charge merchants is regulated, so the banks make less money on this side of the Atlantic when people pay with a card than they do in the U.S., where they charge higher fees to retailers.
And the way Goldman Sachs / Apple can afford to offer cashback is funded by those fees. So offering the same rates in the U.K. (and Europe) would leave very small profit margins or maybe even make a loss.
It is also worth noting that the "Samsung Pay card" mentioned in the story is not a credit card, so it is not comparable with Apple Card.
Instead it is a rebranding of a service offered by Curve, which is a virtual card for managing existing credit and debit accounts. When you use a Curve account (or Samsung Pay+) to make a purchase, it gets charged to one of your linked accounts based on how you configured the service.
So effectively it is a means of managing existing accounts rather than a separate product. It is also good for Apple because if your bank does not support Apple Pay, you can add it to your Curve account then add your virtual card to Apple Pay. Presumably that also applies to a Samsung Pay+ card as it is just a different branding.
A downside of Curve, though, is you do not get statutory consumer protection as Curve do not offer credit. Instead you are paying with their card, even though they are seamlessly simply passing the charge on to one of your credit accounts. Relative to your card issuer, their transaction is with Curve and not the end retailer.
Under the consumer credit act you can get refund from your card issuer for any product bought on credit costing between £100 and £30,000 that is not delivered or is faulty any time up to six years (five years in Scotland) after purchase. That includes the full amount where you only use your card to pay a deposit.
And having to take on hat risk is probably another difference between the American and British markets which makes it less attractive to Apple to provide financial services here. A British Apple Card would likely just be a product from a traditional bank but with Apple's physical card issued.
So will the Oppo card be issued by the largest bank in the world (some no-name Party-owned bank), while they pretend to be a hip, trendy "start-up" and call themselves a "fintech" (JFL, what a ******** term) company with some fake "founder" appropriating San Francisco start-up culture? Oh wait, that's the OnePlus card coming as their next co-brand
I use my Apple Card similar in a similar fashion but a bit more regularly. Top: Amex is 6% on groceries and streaming services (limit on groceries to 5k annual spend, free annual fee first year, 300$ bonus after 3k spend) and when I need the 1 year extended warranty on a purchase (only 1% cash back though). It's Apple Card for Apple recurring (iCloud, Music) and purchases at certain gas stations and others like Walgreens, Panera. These are all 3%. Then Fidelity Visa for everything else at 2% (on everything, no annual fee).
But Apple Card is easy, fee free, cash reward is available very quickly and super easy to use reward cash. If Apple would expand their 3% merchant list that'd get me using it quite a bit more. I also with Apple would allow transactions to synch with Mint.
Don't know the intricacies of the UK market but Apple Card in US has no expense.
Well unless you carry the charge debt past the statement due date. But even then the interest rate is a bit better than my other cards (virtually no credit card is a good deal for carrying debt/APR. Anyone reading this needing this financial advice then I say it crystal clear: do! not! carry! credit! card! debt! ever!)
Came here to say this, the easiest way to explain the Samsung/Curve card is that it’s a physical card version of Apple/Google Pay. It’s not a credit card.
You add all your cards to the Samsung/Curve card in their app in the same way you would to Apple Pay, then you select which card you want to use but instead of tapping your phone you get an actual physical card which is a MasterCard debit card, when you use the Curve/Samsung card Curve immediately charges whatever card you have set as the active card in their app.
The only real use is if your bank doesn’t support Apple Pay, you add the Curve card to Apple Pay then add the card that isn’t supported to Curve.
It’s literally just carrying out a debit or credit card transaction so needs no approval from the banks to be added, meaning you can add any card you have (apart from Amex UK - they blocked Curve transactions).
Since every major bank in the UK is supported by Apple Pay and Android Pay now it’s not much use anymore.
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Also, stay clear of anything from the USA that has to do with any of your personal info, including financial.
The extent of wiretapping and surveillance etc. done by the US, its three-letter agencies and the country's gigantic internet tracking and advertising industry, are unparalleled in the world.
Makes China look like your (though tech-savvy) little neighbourhood snooper.
It has a very high interest rate. And I would prefer it have no cash back. My current card is 8.6% for 3 years then it moves to 18.3%.
Typical Wuamo 50 Cent Party whataboutism trick flipping valid critique of china onto the US...
No one here is defending the US big tech/NSA privacy invading practices but to make the ridiculous assertion that china is akin to a “little neighborhood snooper” is either gravely naive or deliberately being disingenuous.
Also I find it amusing that mainland china brands due to the belt and road aka world domination initiative deliberately use generic westernized sounding brands to obfuscate its chinese origin of their state subsidized product dumped products. Some examples are oppo, realme , oneplus, vivo, haier, hisense, meizu, tcl , lenovo
The US isn't perfect but you must be insane to trust companies that are arms length controlled by the CCP with your private data over APPLE
most likely many business have sold your data to global fintech industry & we just don’t know it yet.
Bingo. I’m just north of the border to USA & we’ve not heard of any hint Apple Card is expanding anywhere. I’d l8ke to think this upcoming competition along with major changes to fintech industry such as SoFi etc could make money management, awareness, transaction fees for the better of the end consumer, yet I’m not that young to dream foolishly. We’ll see what Apple does and what comes of this.
Isnt that what Cadillac was for, to compete in the luxury segment? Lol.