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Apple Pay and non-supported banks

From A Buick 8 said:
8 cards Yikes 🙂
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Heh. Yeah, they do accumulate over time. 😎

Good to keep older cards to maintain the depth of your credit history while offers on new cards can be attractive. Trick is keep them at zero balance and cycle through them every so often to keep them from getting cancelled.
 
infantrytrophy said:
I recommend USAA Federal Savings Bank. Outstanding, very customer-friendly. The USAA MasterCard is scheduled to work with Apple Pay on Nov 8th.
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I was surprised none of my USAA cards worked yesterday. Kind of upset about that. Also my Barclay cards don't work either nor does my AMEX card. So far I have no use for Apple Pay.
 
AppleFanatic10 said:
I was surprised none of my USAA cards worked yesterday. Kind of upset about that. Also my Barclay cards don't work either nor does my AMEX card. So far I have no use for Apple Pay.
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USAA cards are scheduled to work on Nov 7th or so. Patience, Grasshopper. 🙂

My Costco Amex card works now, at least as far as entering the card into Apple Pay. Haven't tried to buy anything with it. If your Amex card could not be entered into Apple Pay, you might try calling Amex to help.

Apple Pay will be worth the wait, in my opinion, if you consider the bigger picture. Apple's system will not only provide more security to the payments process, but it will also tend to push the wireless carriers (e.g., Verizon) completely out of the picture and thwart them (the carriers) from getting away with their egregious tactics, such as blocking the NFC portion of Google's Wallet system in order to promote the carriers' own clumsy system. The wireless carriers have no business interfering with or profiting from our purchases, or for that matter having any control at all of what goes on with our smart phones.

>>> I won't repeat my entire rant here, but if you are interested here is a link to a similar thread in this forum. Scroll down to post # 10.
https://forums.macrumors.com/threads/1805917/
 
takeshi74 said:
Actually you don't want all of them reporting 0 balances. 0 utilization comes with a hit.
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I think this is what you're saying, but to clarify for those who aren't aware, this is only on a per-person basis. Utilization is factored in over your whole credit profile. Keeping an individual card at 0% is fine as long as you're not at 0% across all your cards. It's the overall utilization that matters.

The exception, as noted, is that if you let a card go unused for a long period of time, the issuer is likely to cancel it, which you don't want. The average length your credit lines are open is another factor affecting score, and allowing an old unused one to get cancelled can come with a hit to your score.
 
To clarify -- I was referring to paying cards off each month. I swap them around so none is inactive. I also push about as much through them as I can manage without going to Herculean efforts to do so. Cash back is a nice benefit. 🙂 You do have to have the discipline to not go buy stuff you don't have the cash to pay off immediately.

The card providers will report the balance as of each statement, so the credit report will show a utilization. As I didn't clearly communicate, paying off each balance before it's due results in plenty of benefits with no downside while still showing some utilization. (FWIW I just did a refinance on my home and so I'm freshly familiar with my credit report and score) 🙂

Point being -- if you're actively using cards, you'll show some utilization due to how the card providers report, even if you're paying balances to zero every month. Just wait until you get the statement then zero it out.
 
I have a credit card from a local credit union. Isn't supported yet. Hopefully, they jump on this bandwagon.

If they don't... BoA is getting more business from me.
 
Looking at some of the threads on MacRumors today it looks like everyone is treating it like a toy with lots of sub $10 transactions. Both the banks and the merchants hate the use of CC for these types of transactions.
 
nebo1ss said:
Looking at some of the threads on MacRumors today it looks like everyone is treating it like a toy with lots of sub $10 transactions. Both the banks and the merchants hate the use of CC for these types of transactions.
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The banks (or card issuers) don't care. They get paid their up-front per-transaction fee to cover baseline costs, and then a percentage of the total purchase.

Merchants care because as the purchases get smaller, that per-transaction fee becomes a larger portion of the purchase.

In any case, it's to be expected. You try a new thing out on an inexpensive purchase, gain familiarity with it, and are eventually comfortable using it for larger purchases. Completely expected behavior.
 
My bank said they would see how Apple Pay goes for a couple of weeks, and then they would decide if they wanted to do it. Then I contacted my credit card credit union, and they said they had no plans to support Apple Pay. This sucks. I really don't want to have another credit card, but I would really like to use Apple Pay.
 
Newtons Apple said:
So you are going to change where you shop depending on if they accept Apple Pay or not?🙄



And you are going to change banks for Apple Pay?

Is this real?
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When did I say that? I was just pointing out that there were more places that accepted NFC payments than what people think? Don't know what you were reading my friend, but you definitely didn't read my post.
 
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