Apple Card Said to Launch as Early as First Half of August

[IIGS User]

Why did this take so long? It's another credit card not rocket science.

Duh. Air Power....

 

[mashinhead]

I suppose it’s not that different from a highly anticipated superhero movie or a highly anticipated release from Taylor Swift or whomever. It’s just a movie, it’s just a record.

People have different interests ¯\_(ツ)_/¯

Many movies and concerts and are anticipated. How many CC's are? It literally does nothing that other card already out there do? If it was like 10% cashback I get it. But honestly, it's just another credit card?

 

[BladeRunner95]

If this comes to the UK with the same terms (ie no fee, and 3, 2, or 1% cash back) then it's a no-brainer.

Currently I get 1% cachback with Amex but there is an annual fee, and not everywhere accepts it. Backup is Barclaycard cash back which has no fee, but only 0.5% cash back.

So using the Apple card instead would more than double my cash back on average, and save an annual fee.

 

[PickUrPoison]

Many movies and concerts and are anticipated. How many CC's are? It literally does nothing that other card already out there do? If it was like 10% cashback I get it. But honestly, it's just another credit card?

And it’s just another superhero movie... just another concert.

It’s Apple. Millions or tens of millions (or hundreds of millions) are going to be interested in any new product they release. Your particular lack of interest is not relevant and has no meaning to those who do have interest.

What a boring world it would be if everyone only liked what you like. Maybe you anticipate what you want and let others anticipate what they want. Does that make sense?

 

[The Game 161]

If this comes to the UK with the same terms (ie no fee, and 3, 2, or 1% cash back) then it's a no-brainer.

Currently I get 1% cachback with Amex but there is an annual fee, and not everywhere accepts it. Backup is Barclaycard cash back which has no fee, but only 0.5% cash back.

So using the Apple card instead would more than double my cash back on average, and save an annual fee.

When we see it though that’s the question

 

[k1121j]

Exactly what kind of loss, damage or injury is one expected to incur by underrating Apple?

detriment
[ de-truh-muh nt ]
noun
loss, damage, disadvantage, or injury.
a cause of loss or damage.

i think he is trying to say they will take over the world

 

[k1121j]

In the U.S, you probably don’t want to cancel your no annual fee credit cards as it reduces your utilization rate which may impact your credit

What on earth are you talking about? it may reduce your total amount of available credit but it wont necessarily change your total credit utilized.

 

[ipponrg]

What on earth are you talking about? it may reduce your total amount of available credit but it wont necessarily change your total credit utilized.

If your total credit is $1000 and you cancel your credit card that is $100 credit, what is your utilization before and after if you spent $500?

 

[Robert.Walter]

What makes you think consumers in other economies care for the American credit card market at all? If you had the slightest awareness of how credit deals, benefits and features work outside of the US, you'd know customers aren't particularly interested in anything above a vanilla debit mastercard. "Competitive" credit cards is a non market in i.e. the EU.
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Oh I'm sorry, I thought Timmy cares about his services outreach to international markets considering Apple's hardware update cycles are stalling and sales across the board have plateaued.

I think I might know what I’m talking about as I’ve been working internationally for almost 30 years and living outside the USA for 20+ Eu and JPN.

It’s precisely because I know how CC works outside the US that I think Apple Card will be a hit.

And those vanilla debit cards? Annual fees on the order of 40-50 bucks, replacements too. If the Apple Card offers meagre cash back rates but eliminates all the annual and specialty fee gouging of standard CC or prepaid CC or DC, only fools will fail to jump on it.

As it gains momentum by word of mouth, the Apple Card is going to disrupt the CC and DC income of lots of credit unions in the USA, and banks and co branded cards in EU countries.

Caveat: the only Achilles issue with AC is if it doesn’t offer supplemental features like warranty extension or travel insurance, etc. Unlike cards in the USA that offer several of these features, cards in EU tend to offer fewer, one or possibly none (but I can’t think of one atm). If AC fails to offer something here, it could damp interest somewhat.
[doublepost=1564374395][/doublepost]

What effort? It's literally free money for doing nothing out of the ordinary. By Christmas, I will have hundreds of free dollars to spend for simply using my cards to buy groceries and pay bills. There was zero effort involved.

If you have to explain this, it’s likely that the other person for some oddball reason doesn’t want to understand this.
[doublepost=1564374565][/doublepost]

I have been using a debit card for the better part of my life. I am holding on a credit card partly because my bank kept pushing them so hard to me, but I find I hardly ever use it, because its benefits don’t match my lifestyle at all. For example, I simply don’t frequent the shops and eateries they offer rebates for. And yeah, I call their helpline once a year to get my annual fee waived.

I am probably “spending wrong”, and I suppose that with a little effort, I could find a card with the right rewards, but I just haven’t been bothered to. This may sound a bit ironic coming from someone who majored in finance, but I am happy keeping my money in an ordinary savings account and well, just spending with Apple Pay where I can and paying with cash / nets when I can’t.

That’s why l am attracted to the rewards of the Apple Card, as it doesn’t make a distinction about what I buy or where I buy from, and the rebates are instantaneous. It’s the sort of simplicity that I buy into the Apple ecosystem for. Likely not the best, but good enough in the areas that I do care about.

Advantage of using a CC instead of DC is that there is no direct access to your money pile. The cc acts as a firewall with a 25-50 day review period vs a DC pulling money near instantaneously.

 

[Robert.Walter]

It would be the original blue cash from AMEX before they changed it a few years ago. My card is grandfather in. AMEX figures out they gave way to sweet of a deal by in 2008 and killed it after a few years but the ones of us who had the cards got to keep it going.

Thx. Thought it might have been that card. Kinda surprised they grandfathered instead of sunsetted that reward feature. Lucky you!

 

[tmiw]

I think I might know what I’m talking about as I’ve been working internationally for almost 30 years and living outside the USA for 20+ Eu and JPN.

It’s precisely because I know how CC works outside the US that I think Apple Card will be a hit.

And those vanilla debit cards? Annual fees on the order of 40-50 bucks, replacements too. If the Apple Card offers meagre cash back rates but eliminates all the annual and specialty fee gouging of standard CC or prepaid CC or DC, only fools will fail to jump on it.

As it gains momentum by word of mouth, the Apple Card is going to disrupt the CC and DC income of lots of credit unions in the USA, and banks and co branded cards in EU countries.

Caveat: the only Achilles issue with AC is if it doesn’t offer supplemental features like warranty extension or travel insurance, etc. Unlike cards in the USA that offer several of these features, cards in EU tend to offer fewer, one or possibly none (but I can’t think of one atm). If AC fails to offer something here, it could damp interest somewhat.

I'm not sure about that. A lot of the reason people typically use debit cards in Europe is related to a cultural aversion to debt, which I don't see Apple changing any time soon. I could see a modified Apple Card taking hold that works more like a charge card, though, where 100% of the balance is due every month.

 

[JBGoode]

What on earth are you talking about? it may reduce your total amount of available credit but it wont necessarily change your total credit utilized.

Unless you also reduce the amount of debt at the same time you cancel a card, yes it will.

$3k debt out of $10K limit is 30% utilization. If you cancel a $1k card while maintaining $3k in debt, your utilization is now 33.33%. It works this way every time .

 

[k1121j]

Unless you also reduce the amount of debt at the same time you cancel a card, yes it will.

$3k debt out of $10K limit is 30% utilization. If you cancel a $1k card while maintaining $3k in debt, your utilization is now 33.33%. It works this way every time .

Exactly my point you assume everyone carry’s debt. Sorry my friend not true for a lot of us with stellar credit. So like I said not in every case will this affect credit canceling a credit card.

 

[JBGoode]

Exactly my point you assume everyone carry’s debt. Sorry my friend not true for a lot of us with stellar credit. So like I said not in every case will this affect credit canceling a credit card.

I don't assume everyone carries a balance; I certainly don't. I incorrectly assumed that the context of that particular discussion point was that the card holder had a balance.