Honestly I'd just like Apple Cash to launch in the UK. I don't need another credit card but being able to have a seperate 'pre-paid mastercard'-style feature in Wallet would be welcome. A physical card would be nice. It would look nice in my wallet next to my Samsung Card.
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Apple Card Turns 5, Still U.S. Only
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Did you guys look at the interest rate on this card? I’ve had mine for 4 years now. The interest rate is over 27%. My credit score is about 825. I called them (Goldman Sachs) and questioned why the interest rate is so high. I requested they lower mine. They said only if I were active military could they lower it.
This interest rate is PREDATORY. I always pay my credit card bills in full, so interest rates don’t affect me. But this internet rate is INSANE. It should be illegal to charge 27% in interest rates. I wonder what the internet rate on this credit card is for people with not a perfect credit score.
This interest rate is PREDATORY. I always pay my credit card bills in full, so interest rates don’t affect me. But this internet rate is INSANE. It should be illegal to charge 27% in interest rates. I wonder what the internet rate on this credit card is for people with not a perfect credit score.
I think Apple Card will not be so popular in Europe, as it has a very high interest rate, so won’t be so lucrative for local customers. It is quite easy in Europe to get personal loans ranging from 150€-75000€ with the interest rates between 2 to 7%. Who would want to pay Apple Card’s interest of 20+%?
PS Love your signature! 😉✌️
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How do they work to help you avoid interest? The interest is higher than 27%. They don’t want you to pay interest? You can’t be serious.
But you can’t deny Apple Card has the highest interest rate.
No interest, lol? As of 2024, the APR for the Apple Card varies from 15% to 26%, based on your credit score, etc.
Sorry. Misread the article. Then I still don’t understand the business case. For the consumers 😂
I can see how it will be hard to sell in Europe.
As you use it they do raise raise the limit. Still 1/3 the limit on my other credit cards.
As stated in other posts many reasons to use a credit card instead, assuming you pay it off every month.
1. You get the use of their money for up to 30 days with no charge
2. Protections against fraud. Has happened to me several times. Thousands of dollars involved.
3. Those who pay with cash or debit cards generally pay the credit card price therefore are paying a higher price for the same product.
4. May have many other benefits, depending on the card. On one trip I got almost 15 cents per point when using them for an airline ticket. 1 point was $1 spent on the card.
The average credit card interest rate today is 25%. My Apple Card rate is ~16% though.
Certainly not a good deal for those who are paying it.
Why would you want it, when the interest rates are insane? IMO, a better plan is to stick an Apple sticker that came with their iPhones on your existing card and call it a day. Style & function, hey! 😉
Maybe just only buy stuff you can afford? Only reason for making this so complicated is so those in the top of the pyramid can make more money.
This is a shame, but at the same time, I think Apple shook the temple a little bit, and credit cards over the last 5 years became better and better in Canada.
Actually for mine, I think it did not get more benefits, but it's much better implemented in the app of my bank and the benefits are much more clear than ever. Before they were hidden in a hard to find pamphlet of like 50 pages written in small characters lol
Actually for mine, I think it did not get more benefits, but it's much better implemented in the app of my bank and the benefits are much more clear than ever. Before they were hidden in a hard to find pamphlet of like 50 pages written in small characters lol
Well this thread quickly became a nerdwallet post.
I just checked mine rate and it's the same, 27%, and I also have a credit score over 800. I haven't paid a penny in CC interest in almost 15 years, so the rate is a moot point, but damn....that's high. My AMEX, on the other hand, is 20%, which is still ridiculous but a little less so.
The Apple CC is interesting, but the rewards kinda suck.
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I’ve tested my physical wise Mastercard here in Europe but only use via Apple Pay. No problems with either.
But in daily practice I use my Apple Card, and for items benefiting from warranty extension I use my delta AMEX.
Hopefully if new colors come out it wont be the poo color like the new I phone 16
Now that's funny, if not also hyperbolic. In my case, financial prudence demands that I use and pay off monthly my Fidelity 2% cash back on everything card unless the vendor discounts for cash or debit card payments. Plus, I get an average of fifteen days float on my money and do not run the risk of having my bank account cleaned out due to fraud.
Haven't touch my actual card since activation & locking it away. I forgot which color it was until I read the comments. Apple pay from my iPhone or cellular S7 = one of Apple's best creations.
I almost missed the humor in this until I saw the italicized "automatically". Well played!