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Apple Card Turns Seven With Big Change Ahead

mwhite said:
Gambling is stupid, and calling it a "prediction market" was word play to get it legal in all 50 states. Legislators should outlaw this crap, because there are people out there who aren't savvy enough to know that a "Prediction Market" is just bad old fashioned gambling. Plus betting/gambling lately has gotten out of control, especially when it comes to sports. It's having negative consequences beyond some idiot lost his last paycheck.
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I am fully am aware that it is gambling, but I also know for a fact people do not know how prediction markets with parlays work and how successful they actually are. It's an investment strategy that is low risk if you do it right. You probably see more portfolios start to implement it. Actually, I know you will.
 
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mattopotamus said:
You probably see more portfolios start to implement it. Actually, I know you will.
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Horrible. And geez, gambling err, uhh "Prediction Markets" are an "investment strategy? I can't believe my ears! Bad direction, bad news. This is the direction our country is going....
 
BigMcGuire said:
Apple Card is one of my most favorite credit cards. Granted, it doesn’t give me the rewards my others do (2% vs 4%) but it is convenient and easy to use. I like my Chase cards too so if it goes to Chase, works for me.

Big thing for me is the convenience factor of seeing things on my iPhone - ease of transferring money between Apple Cash, Apple Card, etc.

Edit: 4% in my case is the Verizon Wireless credit card only on groceries/restaurants/gas/ev charging and only redeemable to a Verizon Wireless bill.
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An underrated feature that I like is no fees. Including foreign transaction fees. Nintendo store for example apparently charges in yen or something and my last credit card had the gall to charge me a foreign transaction fee for it. Apple Card doesn't do that.
 
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Alpha.Lyrae said:
I chuckled at this. 🤭

For those that haven't replaced your physical card yet, Apple actually sends a return kit with the new card. So, they'll endlessly recycle them for you. Makes sense being metal and all.
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I recently discovered this myself when I sent one back for the first time ever. Since they made it so easy, I actually did send it back.

It is made of seriously sturdy metal though, I thought about keeping it.

You are probably also aware it's modeled after Woz's metal business card.
 
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mwhite said:
500's was even too low for their low requirements. You had to have 650 at least, I think it was, definitely above 600. And it had to be with TransUnion. But you could have checked periodically to see if you would have been approved as your score improved with no ding to your credit score. And sometimes for some people they would offer something called "Path to Apple Card."
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Ah, got it, thanks. Transunion is the strictest, too, by far. TU's FICO 8 — unlike their Vantage score — will not get above 768 for me. Been stuck there for a year. Oh and yes I performed dingless checks with Apple Card every month for a year until it finally made it.
 
mudflap said:
Ah, got it, thanks. Transunion is the strictest, too, by far. TU's FICO 8 — unlike their Vantage score — will not get above 768 for me. Been stuck there for a year. Oh and yes I performed dingless checks with Apple Card every month for a year until it finally made it.
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Oh that's odd because I feel as if Transunion is more forgiving. Experian in my book is the strictest, and that's who Chase uses in most states. My TransUnion FICO score is five points higher than my Experian FICO score. Oh, and for the Apple Card, Goldman Sachs was using FICO 9 (and still are AFAIK). It doesn't count things like medical bills. However, I think, but I may be wrong, that Chase actually uses Vantage Score and not FICO, but again, I may be wrong.
 
tennisproha said:
I wonder if Apple will finally start offering more competitive rewards and benefits once Chase becomes the issuer. As it stands there's no compelling reason to get an Apple Card.
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The reason is the integration and information on the app. The best I have seen of any Credit card.
 
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iBJW said:
That’s what I'm thinking. Chase is ranked as one of the worst banking institutions from what I have seen, especially with fees. Wonder how Apple will handle that. I hate using PayPal, but their savings APY is high, like Apple Savings
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Chase is one of the better ones when it comes to fees.

Very lax overdraft policies and even an account without overdraft fees.

Otherwise, pretty average fees-wise for a typical large bank.

In reality, money smart people have about $500-$1000 parked in savings, and the rest in an S&P 500 ETF.
 
Fee-free cash back card efficiency (my plan)

5% category cash back quarterly with Discover and Chase Freedom (so when it’s groceries, I use that card for that spend for 90 days; for Amazon, dining, etc. Occasionally they overlap but rarely.)

3% on Apple with AppleCard and use for installment plans For Apple hardware.
2% everything else not giving me more somewhere else in my portfolio of cards.

3% on all online with Bank of America’s set a category card. I set it permanently to online, including bills and many things other online-cash-back card categories deny, like AMEX screws you with online cash back, like airline tickets!

3% dining with Chase Freedom Unlimited

3% groceries with AMEX Cash Card

But I get 5% so much of the time because I purchase from the categories a lot. Like dining when it’s 5%. Just use my other Chase during that quarter. Revert back to 3% on Chase Unlimited.

I absolutely refuse to pay fees for cards. I don’t believe in paying money to save money. I don’t have the spend to justify fees, just like I don’t have the buying quantity to justify BJ’s or Costco and their ilk.

I pride myself that I completely get paid by all the banks to do all of my shopping. And I’ve never paid a penny of interest since I was 30-something.
 
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I was waiting for Apple Card to come to Canada, as the Big Banks here are so behind the times! But then I discovered KOHO, and haven't looked back! Great card, great app, great benefits!
 
Another feature/service that arrives with great fanfair, but never expands beyond part of the user base (3d mapping, street view, drivers license etc etc) sigh!
 
That is why the chief handling Apple Wallet will retire.

7 years, Apple Cash and Apple Card is still US only. With no de development for 2nd country in site.

There are many things Wallet, Apple Cash, Card could do. But in the 7 years for a 5 trillion company. They did very little if not next to nothing.
 
BigMcGuire said:
Apple Card is one of my most favorite credit cards. Granted, it doesn’t give me the rewards my others do (2% vs 4%) but it is convenient and easy to use. I like my Chase cards too so if it goes to Chase, works for me.

Big thing for me is the convenience factor of seeing things on my iPhone - ease of transferring money between Apple Cash, Apple Card, etc.
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The combination of the Apple Pay service + Wallet app + Apple Card itself is the best consumer payment product I've ever used. Stellar overall ecosystem.

svish said:
Disappointing to see that it has still not expanded outside US. Don't think it will ever be available in my country.
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thelion7 said:
I could be completely wrong but Chase does operate in the UK so once the contract changes Apple might then have the means to launch in the UK too at least.

And after that they might try to expand to Europe from there assuming chase continues to expand in other countries.
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It's quite unlikely because (1) Credit Card is a favored payment method only in the US and (2) The underwriting banks do not have the appetite to offer the same benefits elsewhere.

Remember that Apple is only the branding and consumer layer - they do not provide the financing or the benefits (directly). The banks are able to provide all these things because US banking/finance regulations allows it to be funded. Elsewhere in the world Debit payment is favored. Banks cannot get as much revenue for payments facilitation, so there is less money to offer as incentives for credit.
 
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ksec said:
That is why the chief handling Apple Wallet will retire.

7 years, Apple Cash and Apple Card is still US only. With no de development for 2nd country in site.

There are many things Wallet, Apple Cash, Card could do. But in the 7 years for a 5 trillion company. They did very little if not next to nothing.
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it's not for the reason you think.

what did you expect them to do... spin up a banking business?
 
poematik13 said:
Chase is a notoriously stingy bank, so get ready for all of yalls 26k limits to get slashed lmao
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I've got 18 cards and my Chase Amazon Prime is my 5th largest. US Bank has been the stingiest by far, both of my cards having limits less than 20% of my Amazon's limit. Capital One is right in line with US Bank (they're also the only issuer that has ever slashed my limit for low use). Considering 3 of my top 5 largest cards are with credit unions known for giving out large limits, I would say that Chase is anything but stingy. In fact, my other card, the Freedom Flex, is my 8th largest and I've never requested an increase for it.

Regardless, I'm expecting other negative changes. Chase won't give Apple the same favorable terms that GS did. Given that they just launched their leasing with Klarna, I wouldn't be surprised to see ACMI in its current form get the axe, at the very least losing the ability to earn cash back when using it, but also could see 24 months for iPhones being cut to 18 and/or 0% being replaced with deferred interest.
 
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mwhite said:
Expand to Europe? 🤣🤣🤣

Not worth it with all the European Commission bureaucracy. Dollars to doughnuts the EC will find some way to interfere. Even Britain probably isn't worth it.
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If Apple violates the rules, the EC will Chase them down, yes, and rightly so. 😊
 
thettareddast said:
why shouldnt they have made a card that ranks #1 in customer satisfaction for consecutive years and drive more cardholders to their products?
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Because what they are doing is not sustainable? Why do you think Goldman have to call it quit? And why do you think it is not available world wide?

If you believe the card as an Apple product or services should forever be US only with little to zero intention to ever expand beyond US. That is fine, we agree to disagree. Otherwise what they started was never going to cover rest of the globe. And they have shown very little intention in doing so. They are coming on to 8th years after its launch, that is a very long time in Tech scene.

I am just hoping JP Morgan will teach them a lesson.
 
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