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Apple Card Said to Launch as Early as First Half of August
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Your statement is just as speculative and unproven as the headline you railed against.
The consumer, if you use it correctly.
Credit Card companies count on you not using it correctly.
The rewards on this card are mediocre at best and not really competitive but I do like the security feature of no physical card number and I hope it generates a unique card number every time for all online transactions. That would make it worthwhile.
I thought one of the advantages was to be able to redeem cash back right away into Wallet, whereas some cash back cards you had to reach a certain threshold before being able to redeem, but maybe that's changed?
Well, as a quick example, all the fools who shorted the stock when they didn't like the way the iPhone 6 looked, or they wanted to claim Apple was doomed one of those hundreds of times they were at the edge of the abyss. They lost all that potential portfolio gain.
It's not right away but it is done daily (you get the reward the next day). Yes most other cards make you have a redemption minimum, very annoying. For instance, the Citi Double Cash card has a $25 minimum to redeem rewards. Some like Discover don't have a minimum, but Discover's base rate is 1% (with 5% categories occasionally), while Apple has 1% for physical card and 2% for Apple Pay (Discover doesn't change if you use Apple Pay or not).
How do merchants store the credit card on file? This is needed for quick rentals like Hertz Gold or National/Enterprise Emerald Club.
Will the card offer usual benefits like doubling of the warranty up to 1 year, supplemental car rental insurance, purchase protection, etc. While these were a blanket offering for all MasterCards, that is no longer the case moving forward. Many cards are discontinuing these benefits later this year.
Aside from that, how does one make online purchases with this card if one does not have an iPhone? Apple is limiting themselves by trying to build a walled ecosystem.
Will the card offer usual benefits like doubling of the warranty up to 1 year, supplemental car rental insurance, purchase protection, etc. While these were a blanket offering for all MasterCards, that is no longer the case moving forward. Many cards are discontinuing these benefits later this year.
Aside from that, how does one make online purchases with this card if one does not have an iPhone? Apple is limiting themselves by trying to build a walled ecosystem.
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I think you misunderstood everything they said. If your card does not have an annual fee, you shouldn't cancel it. Cancelling a card impacts your credit score negatively. It reduces your age of accounts and utilization rate which will cause your credit rating to drop, while remaining on your credit report for ten years. Just throw the card in your sock drawer and be done with it.
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If you're financially responsible and pay your bills off every month on the due date, there's nothing wrong with adding another credit card.
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Financially responsible people who utilize rewards and sign up bonuses to their advantage. I booked two business class tickets to Japan and a 2 week hotel stay at the Hyatt all from points accrued through Chase's reward system. Didn't cost me a cent. All I did was use my credit cards for normal purchases and paid them off on their due date, while accruing rewards over time.
Edit:spelling
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My understanding has been that you can get the card number in app and give it to them (along with the security number and expiration date like any other card), and then they would be able to charge you as much as they need.
Only thing that really changes is that if they wanted to photocopy the card and keep it on file it would be useless to them since it won't have the card number on it.
You can make online purchases by getting the card number and security code in app and using it on any website, as far as I can tell. If you don't have an iPhone, you can't apply for the Apple Card, but if you did have an iPhone and got the Card then deactivated the iPhone and moved to another phone platform you then continue receiving online statements that you can pay off, but you lose basically all the benefits (the UX, 2% on Apple Pay can't be done without Apple Pay, etc).
Only if it’s 30+ days late, like any other credit card.
The difference is, if you’re one day late with some banks, you get charged $39 and they jack up your 14% rate to 29.99 or 35% (even though no late is reported to the CRAs). With Apple, you would incur neither of these penalties.
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They’re only terminating rewards for new customers. If you already have the card you’re fine.
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Omg we know! How many times is this going to be said? There are also better cars than a Smart Car, but people still buy it. Who caressss. Let people do what they want.
Jeeeeez.
The only people who should even consider this card are those that credit-card-churn. AKA responsible people who use these just to reap the rewards and have more than enough money to cover all monthly maxes, multiple times over.
3% back on Apple products will go a long way for me
Can't wait
3% back on Apple products will go a long way for me
Can't waitReally. You honestly think It will be dentremental to underrate Apple. You need help dude. You really do.
The 3% fee for foreign purchase transactions with Citi DC is a dealbreaker for some.
You could use it for Apple Pay transactions and still get that same 2%, and you’d be able to get the 3% cash back for Apple purchases, too.
I don’t have insight into OP’s intentions here but if you’re looking for bona fide detriment in the context of OP’s statement it would be relative to investing in Apple stock. You could interpret the statement as saying you would take a short position on AAPL and incur real loss if the stock continued to increase in value.
There you go. But who cares?
Oh I'm getting it as soon as it launches. It's definitely NOT just another card. Apple developed a system that's clean, organized, transparent, smart, private and secure, and has a pretty good rewards program. Depending on how much of a credit limit I'm approved for, I'm planning to close all of my other credit cards except maybe one or two, and just use this plus my debit card.
I totally agree....plus the Citi Bank Card gives an extended warranty on any product you purchase.
I’m in a similar boat to the original questioner (froze my credit) so thank you for the response regarding Transunion. I was hoping not to have to unfreeze all of the credit reporting agencies just to apply for a credit card.
If you don’t mind me asking, how did you find this information. I have looked and haven’t been able to find which credit reporting agency is used for this. Thanks!