Canadian Government Approves Apple Card and Apple Cash Trademarks

[RalfTheDog]

If I had to guess for most people it's because the app is good, metal card is nice and it has an Apple logo on it..

If you go to the gas station and get skimmed, you don't need to wait for a new card. You just click a button on your phone, then your old card becomes a new card. You can do the same thing with the different number they give you for web transactions.

Edited to say: You also get a great cash back bonus when purchasing stuff from Apple. Personally, I don't care about the cash back thing. Even at the Apple rate, it's not that much money. It is however, far better than what you get from most cards.

 

[ddtmm]

At the rate the Canadian government is racking up debt I wouldn't be surprised if they want to get an Apple credit card to pay it off, LOL!

 

[31 Flavas]

The difference is that our banks' credit cards (in Belgium at least) don't actually give you much credit in terms of deciding when you pay back the money. I believe that in the US you get a bill sent to you from your credit card company... and then you decide how much you want to pay... if you don't pay everything back the astronomical interest rates start to apply to the money you still owe. And that is why there is a lot of money to be made from people with poor financial responsibility who overspend and can't pay back. With all the social drama that follows.

In Europe there is no such a thing, there is no bill being sent to the customer. The credit card is linked to a checkings account and the bank just takes what you owe, straight out of your account. All the expenses you rack up over the period of 1 month are taken out on a certain day in the next month.

The max period of credit you get is 1 month. There are no interest rates. You can't neglect to pay and dig yourself into deep hole of debt. It protects us in that way.

If that's the case - then you've only got debit cards. Which is fine, your country or the EU can decide that credit is not a thing, except for I'd gather, large purchases like an automobile or home.

Seems really hard to believe that's the case, but it is what it is. That is that they'd really leave that much money "on the table". (not that i'm advocating credit indebtedness)

 

[AppleInLVX]

I'm not big on carrying a load of cards, but if this came up North, I'd probably get it and just stop using all the others. Question is, would there be an annual fee, and how much?

 

[hinesy32]

I hope UK get the same look and design card and make it with Barclays that will be great and get 2% cashback in stores and 3% in apple stores i must be dreaming

 

[DeepIn2U]

Apple had financing before in Canada through TD. All they really need is a partner, which shouldn't be too hard to find.

Apple had financing in Canada originally with Barclay's as well, then with TD.

 

[Fried_Gold]

I hope UK get the same look and design card and make it with Barclays that will be great and get 2% cashback in stores and 3% in apple stores i must be dreaming

The Apple Card won't release in the UK.

 

[DeepIn2U]

If you go to the gas station and get skimmed, you don't need to wait for a new card. You just click a button on your phone, then your old card becomes a new card. You can do the same thing with the different number they give you for web transactions.

Edited to say: You also get a great cash back bonus when purchasing stuff from Apple. Personally, I don't care about the cash back thing. Even at the Apple rate, it's not that much money. It is however, far better than what you get from most cards.

Whom get's skimmed at gas stations anymore? Those manual swipe devices are LONG gone lol. Do you mean at the actual teller or directly at the Pump machine?

 

[nexu]

You must not live in Belgium then, as I was talking about Belgian banks' credit cards.

You said specifically 'In Europe' so I had to make it clear, that credit cards in Europe work just like everywhere else in the world. Not sure about Belgium, but it seems super weird nonetheless.

 

[murdoc2k]

Whom get's skimmed at gas stations anymore? Those manual swipe devices are LONG gone lol. Do you mean at the actual teller or directly at the Pump machine?

You can still get skimmed via tap payments if the payment terminal is compromised. This happened around 2 years ago to someone I knew. That person was able to detect the fraudlent charge due to the amount being out of the ordinary and appearing from a location where that person did not visit.

Apple Card is just more convinent and the app is far superior than any of the apps the banks have available. All of your expending in one single pane of glass. I hope they bring it to Canada soon. As long as they don't go through Goldman Sacs here I'll sign up for it.

 

[TropN]

The difference is that our banks' credit cards (in Belgium at least) don't actually give you much credit in terms of deciding when you pay back the money. I believe that in the US you get a bill sent to you from your credit card company... and then you decide how much you want to pay... if you don't pay everything back the astronomical interest rates start to apply to the money you still owe. And that is why there is a lot of money to be made from people with poor financial responsibility who overspend and can't pay back. With all the social drama that follows.

In Europe there is no such a thing, there is no bill being sent to the customer. The credit card is linked to a checkings account and the bank just takes what you owe, straight out of your account. All the expenses you rack up over the period of 1 month are taken out on a certain day in the next month.

The max period of credit you get is 1 month. There are no interest rates. You can't neglect to pay and dig yourself into deep hole of debt. It protects us in that way.

We have something similar here in the US which is called a "charge card," but I believe it's not required to link a checking account. They do charge late payment fee if you make a late payment.

 

[nathansz]

You can still get skimmed via tap payments if the payment terminal is compromised. This happened around 2 years ago to someone I knew. That person was able to detect the fraudlent charge due to the amount being out of the ordinary and appearing from a location where that person did not visit.

Apple Card is just more convinent and the app is far superior than any of the apps the banks have available. All of your expending in one single pane of glass. I hope they bring it to Canada soon. As long as they don't go through Goldman Sacs here I'll sign up for it.

what’s more convenient about it ?

my credit cards app is pretty good.

not sure what the apple card app could do for me that i’m missing

my gut feeling is that it’s sole appeal is that it’s apple. kinda like the air max pods or whatever they’re called

some people just want apple everything.

having said that, if it had better interest rate, insurance or cash back then my current cards i might be interested

 

[DJLC]

my gut feeling is that it’s sole appeal is that it’s apple. kinda like the air max pods or whatever they’re called

For me, pretty much that. But also:

• The card looks cool and feels super nice. Apple logo or not, it's a sweet card and I LOVE that it has no numbers on it at all. If somebody else had offered a card that looked like this, I still would've gotten it.
• The cash back reward rate isn't necessarily better than other cards, but I find it far more convenient. It's actual Apple Cash. Distributed to you pretty much immediately. No stupid points to track. No restrictions. No limited rewards store. Want to apply it to your payment? Great, nbd. Want to transfer the cash to your bank? Awesome, go for it, it's real money.
• Although I couldn't have known this when I signed up, the customer service in my experience is top-notch.

 

[Dark_Omen]

I have heard that it will be difficult to roll out Apple Card in the EU, since EU credit cards differ from the American ones. I have no idea if this is true, or how any of this works though.

The Apple Card has a chip and a magnetic stripe just like any other card. I don't see why that's an issue.

The issue will be finding a partner bank. I doubt Goldman Sachs will do Apple Card internationally, but I could also be wrong. I've read stories where Apple tried to partner with Citi, but it wasn't enough of a profit maker for them so they backed out of the deal. Inking a deal with Citi would've made an international rollout easier IMO.

 

[Dark_Omen]

what’s more convenient about it ?

my credit cards app is pretty good.

not sure what the apple card app could do for me that i’m missing

my gut feeling is that it’s sole appeal is that it’s apple. kinda like the air max pods or whatever they’re called

some people just want apple everything.

having said that, if it had better interest rate, insurance or cash back then my current cards i might be interested

2% Back in cash rewards is probably better than anything offered in Canada. No AF is probably something that's also rare in Canada (could be wrong though). No late fees, no penalty APR. Rewards post much faster than a typical bank.

3% back in cash rewards on Apple purchases. You get the 3% cash back in combination with the 24 months 0% financing on Apple Products.

You get a card with no numbers on the front or back, along with no signature requirement, and a number that you can dynamically change at any time right through the app. Fraud? No worries, just change the card number through the app and go about the rest of your day using the same piece of titanium you were using before.

If I need something, I can simply text customer service and they know how to handle a situation. Not sure about you, but I hated calling Citi because their reps are mostly incompetent and their wait times have often become over an hour during the Covid pandemic.

I guess you could open up a bank credit card and get an introductory 0% rate, but those aren't ever for a total length of 24 months, and that's only a one time offer, and you're succumbing to a greedy bank that will charge you fees or a penalty APR if you forget to make your payment. If there's fraud on your card, you can't go into the app to change your number and keep your card with that cheap feeling plastic that has numbers and a signature line on it. You also have to wait 7-10 days for your card to come in the mail in most cases (unless you have a premium card or want to pay a fee).

Of course there's a good possibility the rewards/financing on the Apple Card in Canada won't be as generous as in the U.S because of the capped interchange fees, but the simplicity and hassle free experience is still a sound benefit.

 

[Ken88]

what is the appeal of an apple credit card?

You can buy and pay Apple products in many mini-payments instead of one large payment..not many can afford to shell out 1,000 cash one time. By using Apple credit card you can pay in 6 install monthly payment of about $170 each month, which much more convenient and affordable However you do have pay small interest fee. Apple Cash is basically your debit card..you put credits in the card via transfer fund from your bank account and every time you buy something the credits are automatically subtract from your Apple Cash..this way you no longer need to carry cash with you all the time..just simply use Apple Cash at wherever they accept it and swipe..fast, simple and convenient. Here in USA pretty all the stores are accepting Apple Cash, Google Pay or other electronics pays. I still prefer the “ old “ school of regular credit card.

 

[FriednTested]

The difference is that our banks' credit cards (in Belgium at least) don't actually give you much credit in terms of deciding when you pay back the money. I believe that in the US you get a bill sent to you from your credit card company... and then you decide how much you want to pay... if you don't pay everything back the astronomical interest rates start to apply to the money you still owe. And that is why there is a lot of money to be made from people with poor financial responsibility who overspend and can't pay back. With all the social drama that follows.

In Europe there is no such a thing, there is no bill being sent to the customer. The credit card is linked to a checkings account and the bank just takes what you owe, straight out of your account. All the expenses you rack up over the period of 1 month are taken out on a certain day in the next month.

The max period of credit you get is 1 month. There are no interest rates. You can't neglect to pay and dig yourself into deep hole of debt. It protects us in that way.

You probably have a charge card and not a credit card. The point of a credit card is in its name. “Credit”

 

[SurferPup]

I want an Apple Card. 🇦🇺

 

[nathansz]

2% Back in cash rewards is probably better than anything offered in Canada. No AF is probably something that's also rare in Canada (could be wrong though). No late fees, no penalty APR. Rewards post much faster than a typical bank.

3% back in cash rewards on Apple purchases. You get the 3% cash back in combination with the 24 months 0% financing on Apple Products.

You get a card with no numbers on the front or back, along with no signature requirement, and a number that you can dynamically change at any time right through the app. Fraud? No worries, just change the card number through the app and go about the rest of your day using the same piece of titanium you were using before.

If I need something, I can simply text customer service and they know how to handle a situation. Not sure about you, but I hated calling Citi because their reps are mostly incompetent and their wait times have often become over an hour during the Covid pandemic.

I guess you could open up a bank credit card and get an introductory 0% rate, but those aren't ever for a total length of 24 months, and that's only a one time offer, and you're succumbing to a greedy bank that will charge you fees or a penalty APR if you forget to make your payment. If there's fraud on your card, you can't go into the app to change your number and keep your card with that cheap feeling plastic that has numbers and a signature line on it. You also have to wait 7-10 days for your card to come in the mail in most cases (unless you have a premium card or want to pay a fee).

Of course there's a good possibility the rewards/financing on the Apple Card in Canada won't be as generous as in the U.S because of the capped interchange fees, but the simplicity and hassle free experience is still a sound benefit.

we haven’t used signatures for credit card payments in canada since about 10 years ago

3% cash back is pretty good i’ll admit that

no annual fee is pretty common unless its a travel rewards card or you have bad credit

as far as the physical card itself, my cards sit in my dresser most of the time, i just use apple pay for pretty much everything unless it’s over the stores limit for tap payment (usually around $300)

 

[nathansz]

You can buy and pay Apple products in many mini-payments instead of one large payment..not many can afford to shell out 1,000 cash one time. By using Apple credit card you can pay in 6 install monthly payment of about $170 each month, which much more convenient and affordable However you do have pay small interest fee. Apple Cash is basically your debit card..you put credits in the card via transfer fund from your bank account and every time you buy something the credits are automatically subtract from your Apple Cash..this way you no longer need to carry cash with you all the time..just simply use Apple Cash at wherever they accept it and swipe..fast, simple and convenient. Here in USA pretty all the stores are accepting Apple Cash, Google Pay or other electronics pays. I still prefer the “ old “ school of regular credit card.

in canada i already have my debit and credit cards in my apple wallet and use my phone to pay for everything

 

[19callum93]

Desperately waiting for this is the UK 😫

 

[iAlexandre]

This is the only card I want! Can't wait!

 

[DeepIn2U]

You can still get skimmed via tap payments if the payment terminal is compromised. This happened around 2 years ago to someone I knew. That person was able to detect the fraudlent charge due to the amount being out of the ordinary and appearing from a location where that person did not visit.

Apple Card is just more convinent and the app is far superior than any of the apps the banks have available. All of your expending in one single pane of glass. I hope they bring it to Canada soon. As long as they don't go through Goldman Sacs here I'll sign up for it.

Oh yeah.

Software is called Pandora I think on WinCE tablets ... a major scam would be to load it on like an old HP Jornada type PDA, put a panel over it and screw it over a real backing machine with it’s own tethered card reader. User puts in their CC/Debit Card ... it’s recorded. User types in their PIN gets an error of incorrect PIN x3 user walks off thinks nothing is wrong reader and table is picked up a few days later - THEN duplicate cards are made with accurate PIN and sold on deep black market ... you the user gets your account lifted! And your credit screwed up too. That was a few years ago unsure if its still being done on tiny quickly-mart or gas station stores in very small rural towns Like Orillia.

 

[RalfTheDog]

Whom get's skimmed at gas stations anymore? Those manual swipe devices are LONG gone lol. Do you mean at the actual teller or directly at the Pump machine?

There are lots of places where the pumps don't use NFC. If you wish to buy gas, you are forced to swipe your card.

 

[nathansz]

There are lots of places where the pumps don't use NFC. If you wish to buy gas, you are forced to swipe your card.

i haven’t seen any remaining here canada

maybe in more remote places.

point being, canada has long been ahead of the us when it comes to payment systems, making many of the selling points people have mentioned here about an apple credit card more or less moot

especially when you can already use apple pay anywhere with whatever cards you already have