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Apple Card Won’t Support Multiple Users, No Cost Associated With Physical Card
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No thanks. Idiot YouTubers don't deserve clicks, views, or traffic of any kind.
The card has a semi-permanent number and CVV stored in the app. These numbers can change when you request them, but otherwise stay the same. That’s exactly like a normal credit card, where if you lose your card they can give you a new one with a new number, but it’s linked to the same account. The article directly states that there are no single-use numbers and that the number is semi-permanent.
I'm confused who this is supposed to serve. Unless I'm mistaken it's basically like any other rewards card. I bank with BofA and they have a 1,2,3% reward card. It's also free (no idea about APR, I don't hold balances on my credit cards beyond a month, but I imagine around 20-25%).
I suppose it's nice for those who frequently buy Apple products. Our card does 3% on fuel, which probably comes out to $5 a month on that alone due to wife's commute. Or maybe it's just a matter of security?
My friend has a card he pays $100 on per year but literally funnels everything he can through that card. We went to Japan two years ago and paid nothing for a week of hotels. His flight was also free. Last year he did the same (without me) and visited Finland. This year we are planning another trip to Japan under similar rewards conditions; he actually has more this time so may spring for nicer hotels. Needless to say the $100 a year is totally worth it for him. Although he is lucky in that he is able to put his rent on the card. That's nearly $2k a month that he doesn't have to think about; he'd be cutting a check for that religiously anyway.
I suppose it's nice for those who frequently buy Apple products. Our card does 3% on fuel, which probably comes out to $5 a month on that alone due to wife's commute. Or maybe it's just a matter of security?
My friend has a card he pays $100 on per year but literally funnels everything he can through that card. We went to Japan two years ago and paid nothing for a week of hotels. His flight was also free. Last year he did the same (without me) and visited Finland. This year we are planning another trip to Japan under similar rewards conditions; he actually has more this time so may spring for nicer hotels. Needless to say the $100 a year is totally worth it for him. Although he is lucky in that he is able to put his rent on the card. That's nearly $2k a month that he doesn't have to think about; he'd be cutting a check for that religiously anyway.
And now you can change the 3% category on the BofA card as well once a month to fit with what you might be spending more money on. The extra relationship preferred rewards add on even more. (Too bad it's part of a $2500 combined quarterly spending limit when it comes to the extra reward percentages.)
You would think so. I had about 500k in Citibank (which account I had previously for 14yr). I'm an expat living overseas. I notified them I'd be taking out regular withdrawls as I was building a house. Over a period of 7 months I took out 380k for the land and house build. They closed my account without notice or reason. After MANY calls - one newbie customer service agent alluded that it was due to money laundering suspicion etc. As someone who works with banks I understand how accounts get flagged etc. But essentially no - all my banks are overseas now except a small USA account I keep for Amazon.
Yes, earlier this year I decided to build up credit (for airmiles / cashback) - I tried to get secured cards and was denied. I went to two credit agencies to get my report and both couldn't issue me a credit report as they said I wasn't on file.
I tried to open another USA brokerage account and was denied as well. Very weird. (I maintain a USA address etc).
In fact, I applied to get one of the cards where you send in 500 and get a 500 card (not really a secured card - a cash card) and was denied for that too. lol
I've been overseas for almost 16 years, and never had credit in USA before that.. so, not sure what to do.
Apple card looks cool - but if it's just a bank card needing a decent credit rating - not going to happen for me.
"It is a personal credit card, not a joined one."
lul - this doesn't even make sense. Practically EVERY credit card offers the ability to add a cardholder. Honestly, it's not that difficult. If you're married, it's incredibly DUMB to both sign up for the same card, then you both have to manage different accounts / bills each month.
Big miss - but I'm sure they'll be adding it sooner rather than later.
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I understand why they are doing what they are doing. I don't agree with the hamfisted way they are doing it, however. I'm an iOS dev / and have been the biggest fanboy about this company for many years. I used to roll my eyes when others would criticize some of their moves. My eyes aren't rolling so much these days.
Really? One can use ApplePay at Hyatt, Marriott and MGM Resorts properties (among others), Delta, JetBlue, Singapore and United tickets (among others), Lyft and Uber. That covers the bulk of my travel. BestBuy, CostCo, Target, Sprouts, Macy’s, a large and growing percentage of restaurants, and other merchants. Currently 70% of merchants in the U.S. accept Apple Pay.
For those people into point hacking who purchase a great deal of travel (again, it requires a minimum of $15,300 just to break even on the cost of the card).
Which is the very definition of point hacking and again, mostly works for travel. If one has status (giving access to more award seats), does not want to upgrade, does not need the miles to retain status, can get the best spread on redemption (35,000 miles for a $2,000 ticket vs. the 35,000 miles for a $604 dollar for an upgradable W fare which I just found for next Wednesday), is sure there is no chance that the trip will get cancelled (transfer to miles is one way), will not be reimbursed for work, cannot deduct the cost as business travel, etc., it can be a good deal. Way more work for people who are not into mile/point hacking than it is worth.
Some people who are using that card are using it to earn 3% on high dollar travel purchases (after they have spent $15,300).
that is properly coded. Many Square and Clover merchants are not properly coded, but for those that take Apple Pay, one would always know it was 2%.
Citi Double cash is better only for non-Apple Pay transactions (2% cash immediately, vs. 1% when spent and 1% when paid), and then only if one never runs a balance. The Chase Freedom Unlimited (I presume the card you are trying to describe) is better for non-Apple Pay transactions if one does not carry a balance and never makes a late payment (one $38 late payment takes $7,600 in charges for the extra .5% to make up).
As soon as you start describing a person with multiple cards that need to be used in special circumstances, you have limited your customer pool to dedicated point/mile hackers. For those people, having the card is just one more optimization. For everyone else, it is fine to use as one’s only card, or only use it for ApplePay transactions and use a 1.5 or better card for other things.
No that's not what it means. You will generate a number in the app and enter it on say Netflix like normal. Majority of places use technology that automatically check with in this case Mastercard already to see if a card number on file has been updated and will be able to charge every month then without an issue. Not sure if there is a significant much older merchants using dated technology that doesn't support this which of course would be a major issue, but assuming Apple has thought about this.
It's worth pointing out that even though the physical card says it "won't require a signature", merchants are still free to require one if they choose.
The payment card companies used to have "no signature under $25", then it was under $50, and now it's pretty much "any transaction". But even then, there were merchants who still insisted on a signature even for a $2 transaction. You'll find today that many large retailers (Walmart comes to mind) no longer require signatures. However, I have still been to MANY places recently that still require a signature - either on the electronic pin pad, or even on a paper receipt. (Restaurants are one example - you'll still need to fill out the tip and sign.)
The payment card companies used to have "no signature under $25", then it was under $50, and now it's pretty much "any transaction". But even then, there were merchants who still insisted on a signature even for a $2 transaction. You'll find today that many large retailers (Walmart comes to mind) no longer require signatures. However, I have still been to MANY places recently that still require a signature - either on the electronic pin pad, or even on a paper receipt. (Restaurants are one example - you'll still need to fill out the tip and sign.)
Thats because they want to get you to fill out the tip. Any server could say you gave them a great tip etc etc...
Did anybody else laugh out loud when they showed the video showing off the physical credit card at the event? I honestly thought it was some kind of parody. I was in disbelief that they were totally serious. It’s a nice card and I’m sure it will become some kind of status symbol, but it’s not a product in itself so I don’t why they’d think I’d want to see a video showing off how it’s made. It would be something like, I don’t know, watching a video about a key fob for a Porsche. Boggles my mind. Am I the crazy one, here?
Finally! A credit card for all the philanderers looking for a secret spending account!
I think this is missing the point.
Credit cards perform two roles - electronic payment and a (terrible) source of credit.
My guess is that Apple cares pretty much ONLY about the "electronic payment" aspects and has zero interest in the credit aspects. BUT, today anyway, you have to take these two together --- you can't "connect" to the electronics payment system without having a credit card.
OK, so why don't they do say a debit card? At least one reason I can think of is that debit cards offer the user substantially fewer legal protections that credit cards.
The bottom line is that using credit cards for CREDIT is DUMB DUMB DUMB. But Apple can't control that, anymore than they can control any other dumb decision users make. What they CAN do is provide a tool that works well for electronic payment; if you want to use that tool to shoot yourself in the head, it seems unfair to blame Apple.
Confused...I’m earning 3% on travel and dining, so why do I want 2% and why do I only want to redeem the rewards for cash?
It wouldn’t matter if 100% of every transaction could be made with ApplePay if the only reward is cash. Chase points are worth a lot more than the cash equivalent.
I think you mainly don’t understand travel points and don’t spend enough on travel/dining, or you’re just dug in.
Again, you don’t need to spend $15K to break even if you use the points for things other than cash, which is the whole point. You also only need to spend $5k on travel or dining to get 15K points and then those points are worth $800-$1000 instead of $150.
Let me bottom line this for you. I’d rather have 100,000 Chase points than $1,000, although I could have the $1,000 too.
Not only is the Apple Card only giving cash back, it's only 2% on purchases that I earn 3% on and spend a lot.
The Reserve is a travel and dining card. If you don’t spend a lot in those areas, it’s not for you. I spent close to $50K on travel last year, so it’s definitely the better card for me.
However, even the 1.5% no annual fee Chase Freedom Unlimited is a better card because it’s 1.5% on everything and the chase points are worth far more than the incremental cash value on a 2% Apple card that is still limited.
I think the CCV is in the Wallet on your phone.
[doublepost=1553885645][/doublepost]Many of you are correct in stating that this is not the best credit card for you. No card would be the best for everyone. The real question is: Can Apple make this card attractive to a large number of people?
[doublepost=1553885645][/doublepost]Many of you are correct in stating that this is not the best credit card for you. No card would be the best for everyone. The real question is: Can Apple make this card attractive to a large number of people?
What other tech company is offering this type of credit card, thus to me it appears they are leading. Recall when Adobe went subscription, there was much grumbling around the campfire. We now see many other companies doing the same thing. Maybe with this CC other companies will give it some thought as well perhaps.
If you need your wife to keep track of your finances, you are kind of dumb.
I'M JUST KIDDING!
[doublepost=1553887134][/doublepost]
There is a "Payment Date" which means there is an interest-free grace period