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Barclaycard Launches New Apple Rewards Visa Card With 3x Points on Apple Store Purchases
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For someone who needs to finance over 18 months it's not a bad deal. Consider a Retina iMac @ $2400. With a typical 12% APR rates a buyer would pay well over $400 in interest over 18 months. This one is interest free. Of course, as always, the catch is you have to be punctual paying the bill because one misstep and you are royally screwed.
As an "everyday" card this one stinks. So, it's a bit of a sticky wicket -- get it and save on one purchase at the detriment of having another unwanted card with terrible APR (assuming you don't pay off your balance monthly). Yes, you can cancel it after your payments are done, but that really messes up your credit rating. Better to keep an unwanted card and not use it -- well once a year so its not canceled.
As an "everyday" card this one stinks. So, it's a bit of a sticky wicket -- get it and save on one purchase at the detriment of having another unwanted card with terrible APR (assuming you don't pay off your balance monthly). Yes, you can cancel it after your payments are done, but that really messes up your credit rating. Better to keep an unwanted card and not use it -- well once a year so its not canceled.
Discover has 5% this quarter on all online purchases. I just wish they would throw in 0% offers every now and then. I typically use this card for their quarterly promos only.
I mostly use my Amex Premier Gold card. It has a $175 annual fee but I usually call up and they give me an extra 25,000 points. I also have a no pre-set spending limit. I can check my purchase acceptance online or through their app. I like this card because it forces me to pay in full and makes me think about the purchases more before buying. Only downside to this card is that the swipe wears out quick
Lastly I have my Visa card which has 3,2,1% cash back. I use this for when Discover/Amex is not accepted.
I mostly use my Amex Premier Gold card. It has a $175 annual fee but I usually call up and they give me an extra 25,000 points. I also have a no pre-set spending limit. I can check my purchase acceptance online or through their app. I like this card because it forces me to pay in full and makes me think about the purchases more before buying. Only downside to this card is that the swipe wears out quick
Lastly I have my Visa card which has 3,2,1% cash back. I use this for when Discover/Amex is not accepted.
you guys shouldnt care about the interest rate because you are paying it off in full every month right?
Sounds like Shylock. Oh yeah, it doesn't matter that I'm going to remove a pound of flesh if you don't pay me back in full, because of course you'll pay me back in full.
Credit is gambling on your future income. You're saying "I bet I'll pay off my balance by the end of the month. If I do, I get a silly reward. If I don't, I pay interest."
Same with mortgage. I bet that every month for the next 30 years, I'll have enough money to cover this. That's freaking retarded to say you know how much money you'll be making each month in 30 years. Credit can be a reasonable gamble - you should know how steady your job is and be reasonably sure that you'll have enough money in a month. But 30 years? Insane. No job offers so much stability that you'll know how much you'll be making so many years in the future.
I like my credit card, on this note. $9000 limit, no fees, and 1.5% cash back on everything. Plus it supports
Pay. I think the interest is something like 8%, but it doesn't matter because I rarely put more than $1000 on it each month, which I easily cover with my income.That tweaked my interest as well (a Chip & PIN) card as I'm keeping my eyes open for these (will actively get one at some point). The plan for most U.S. card providers are to switch over to Chip and Signature (the reason being the banks can get slightly more money on transaction fees) cards over the coming year even though its significantly less secure than with the PIN component.
According to a great article, most PIN cards in the U.S. will be tied to specific companies/sponsors with targeted rewards (as they care more about the security) as opposed to mainline bank cards. Here's the article:
http://krebsonsecurity.com/2014/10/chip-pin-vs-chip-signature/
Unlike the PIN in a debit card, the PIN in a Chip and PIN card is not transmitted over the wire and is held only in the card itself, requiring the user to enter the matching PIN for the transaction to move forward....
have established credit first
FYI: for those who haven't established much credit yet. Don't bother trying to apply for this card if you've never had a major credit card before with good payment history. A friend of mine was denied and I recommended calling one of Barclay's "backdoor" numbers to speak to a rep about the denial. Not only did they run her credit a second time when she called, but they couldn't issue her a line of credit without more credit history.
FYI: for those who haven't established much credit yet. Don't bother trying to apply for this card if you've never had a major credit card before with good payment history. A friend of mine was denied and I recommended calling one of Barclay's "backdoor" numbers to speak to a rep about the denial. Not only did they run her credit a second time when she called, but they couldn't issue her a line of credit without more credit history.
What the hell are you all talking about? Percentages? Reward programs? Financing options? Is this the system Apple Pay is based on? Really? And is this what should simplify the world? In what complicated and twisted world do you all live in? Seriously, take a look at the rest of the world and learn. That's an order! Educate yourself!
This payment system is a joke.
This payment system is a joke.
Clearly someone hasn't read the article, or indeed anything about Apple Pay in general. Or is simply trolling.
Figures... I just opened a Barclay Card from Apple 2 weeks ago.....
The one they sent me works with ApplePay but doesn't have the Chip & PIN.
The one they sent me works with ApplePay but doesn't have the Chip & PIN.
Sounds like Shylock. Oh yeah, it doesn't matter that I'm going to remove a pound of flesh if you don't pay me back in full, because of course you'll pay me back in full.
Credit is gambling on your future income. You're saying "I bet I'll pay off my balance by the end of the month. If I do, I get a silly reward. If I don't, I pay interest."
Same with mortgage. I bet that every month for the next 30 years, I'll have enough money to cover this. That's freaking retarded to say you know how much money you'll be making each month in 30 years. Credit can be a reasonable gamble - you should know how steady your job is and be reasonably sure that you'll have enough money in a month. But 30 years? Insane. No job offers so much stability that you'll know how much you'll be making so many years in the future.
I like my credit card, on this note. $9000 limit, no fees, and 1.5% cash back on everything. Plus it supports
I hear you on the mortgage analogy, but I never buy anything on a credit card that I can't pay off at the end of the month (unless its 0% interest for whatever reason). That said, I am not signing up for this card. I use credit cards for their benefits rather than an actual line of credit (loan).
Nope. Discover has a ShopDiscover website (like a shopping mall) that gives you 5%-25% (depending on the merchant) cashback if you make your purchase through them. Apple has always been 5%.
The revolving 5% category is something else. Fourth quarter (Oct-Dec) has always been for online shopping. What IS interesting about Discover (and most people don't know about it) is that the 5% online shopping applies on top of whatever cashback you get through ShopDiscover and to make it even better you will also get the 1% year-around cashback for shopping with their Discover it card. So, in the fourth quarter you'll always get 11% (5 ShopDiscover+5 online category+1) cashback which on a $650 iPhone is $71.50. Pretty sweeeeeet
Is the no interest promo financing on all purchases for the life of the card, or only the first purchase? Because without that it isn't worth it.
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If you spend $50 or more per week at a grocery store (not just on groceries, but on gas gift cards too, or other gift cards) then you come out ahead, big time.
My bet is that it's going to prefer signature whenever possible, just like Barclay's other cards. In that case, Apple won't be able to prefer PIN just at its stores because of Visa/MC regulations requiring the acceptance of signature if the card negotiates it.
True. I have the Amex Blue preferred, and we use it for EVERYTHING, paying it off each month. After about a year's worth of usage we just cashed in $1100 towards a Disney trip last week.
On the other hand I just bought a new 27" iMac last week...might have been nice to get triple points on that.
I use it to grab zero percent interest then pay it off prior to the interest coming due. I would never use it for regular purchases.
I have the 'old' iTunes Rewards card. I only use it for Apple-related purchases (App Stores, Apple Store, etc, etc) and basically nothing else. And I always pay it off the day I make the purchase, so interest rates are a nonissue for me.
I use another card for everything else.
Works well for me.
My question? How do I upgrade my card to this new one? So I really have to apply, get a new card, then close my existing one? That'd be ridiculous...
I use another card for everything else.
Works well for me.
My question? How do I upgrade my card to this new one? So I really have to apply, get a new card, then close my existing one? That'd be ridiculous...
The Amex Blue Cash Preferred comes with an annual fee of $75. Since this Barclaycard has no annual fee, it's more fair to compare it to the Amex Blue Cash (Non-preferred) version which only gives 3% groceries, 2% gas, and 1% everything else. I would still take the regular AMEX Blue Cash over the Barclaycard though.
I used Barclay for an in-store Apple gear purchase, zero down and no interest within a given period. I paid it off by deadline and it was a good deal.
But since then, Barclay kept sending me printed checks to be used for doing balance transfers. I shredded them. They sent me a credit card that I just put into a file drawer, unsigned and unused. Eventually, Barclay corresponded that they were closing my account due to non-use.
But since then, Barclay kept sending me printed checks to be used for doing balance transfers. I shredded them. They sent me a credit card that I just put into a file drawer, unsigned and unused. Eventually, Barclay corresponded that they were closing my account due to non-use.
The linked page clearly says:
Apple Store OR iTunes Store
So you get 3% back on both. Article needs correction.
Apple Store OR iTunes Store
So you get 3% back on both. Article needs correction.
This is a downside of having a one use card - when they close your account, it counts as a black mark on your credit rating (takes your credit number down apparently). Supposedly closing it yourself (beforehand) and telling the company to make a note that you requested the closure will lessen the credit hit.
The chip+PIN is an advantage if you will be traveling outside the U.S. where this is what they expect.
However, the fine print says that it has 3% charge for foreign transactions (same as many other cards). There are no-extra-fee cards but I haven't seen one yet that also has chip+PIN.
However, the fine print says that it has 3% charge for foreign transactions (same as many other cards). There are no-extra-fee cards but I haven't seen one yet that also has chip+PIN.
From what I understand the Chip and Signature cards just won't have the PIN in them (or enabled).
As far as the buyer goes (at the store), if the terminal is there they'll be able to do whatever they want (PIN or signature), as long as their card supports it, since signature is the fallback and the PIN doesn't work online. The main point is that most Chip cards in the U.S., at this point, are planning on being rolled out without the PIN component so the user won't be able to use that portion of the technology (even though it drastically enhances the security of the transaction at physical stores when used).
In the article, I linked to, one of the banking consultants actually said after Chip and Signature is out, if there was another Target like event (couldn't believe the guy actually said this), that might make the banks go to full function Chip and PIN cards (but most weren't going to provide them because the banks would get a little less money in transaction costs).
Because of the article and what those folks said, I've decided I'll actively ferret out a good Chip and PIN card to use here in the U.S. - although at this point I don't think there is anyplace you can actually use one.
Thinking
Pay preferred, but then fall back to the Chip and PIN. Cheers tmiw.