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Goldman Sachs CEO Calls Apple Card the 'Most Successful Credit Card Launch Ever'
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Those features, price protection, extended warranty, breakage insurance, are basically dead. MasterCard stopped providing them middle of this year. Chase dropped them last year. Just got notice that American Express was pulling them from my card as of January.
It's got issues. For one, it can't tell the difference between a gas station and associated convenience store. It keeps mixing up food and transport, and there's no way to manually re-categorize. Similarly, stores like Amazon, Wal-Mart and Target go into "shopping", and there's no way to divide out your food or healthcare purchases, for example. Plus you got a nebulous "services" which can be utilities or dog baths, which should be tracked separately.
There's no way to incorporate spending from cash or other cards, which is the whole point of this feature: to entice you to put all your spending on their card.
Mint and Quicken and similar work better for budgeting and tracking.
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But it is 2% back, plus some 3%? what is your point? That its another credit card?
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haha. right it is just another credit card, better than some, not as good as others. Haters on a rampage!
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what, what? Citi Double charges foreign transaction charges? Deal killer
I believe they would have to be pretty careful not to lie or exaggerate. If they in any way misrepresent, they subject themselves to hefty lawsuits from misled investors.
Just realized? Way to go. That was published a long time ago
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there is a whole industry, and professionals in the industry.
I cancelled another card I had and replaced it with the Apple Card. Cacelling a long time card actually hurts your credit score from what I understand. Now I find out that Apple/GS 's is not reporting credit use/history to the credit agencies. I pride myself in having excellent credit scores. Maybe it's just because it's new they are not reporting yet, but I certainly hope they do in the very near future so I can get back the points I lost.
That's ridiculous that cancelling a card hurts the score. Getting rid of credit line is a GOOD thing, not bad.
Seriously, the whole credit bureau thing is a scam.
I cancelled another card I had and replaced it with the Apple Card. Cacelling a long time card actually hurts your credit score from what I understand. Now I find out that Apple/GS 's is not reporting credit use/history to the credit agencies. I pride myself in having excellent credit scores. Maybe it's just because it's new they are not reporting yet, but I certainly hope they do in the very near future so I can get back the points I lost.
You know cancelling a card hurts your credit score yet you still did it. Fail.
Oh, I do travel well outside my own bubble. For example, I was on vacation for seven days in Fort Myers back at the end of July and not once did I ever carry cash with me anywhere. I paid everything with Apple Pay (Restaurants, bars, airports, excursions, other outings). My point is, we’re migrating into a world of contactless payment, and it’s becoming to the point where cash is still necessity, but it’s not mandatory for certain lifestyles.
It’s funny, because I’d say about 10 years back, I never paid with my debit card for anything, I used cash for everything, and it’s amazing to see the altered changes of how my mindset has also changed, but technology is allowing this freedom in almost every situation outside just ‘tipping’. I think it’s more of an acceptance for others to use Contactless payment Versus come up with reasons why they shouldn’t have to use it or why cash is always/still necessary. The choice of which somebody chooses to use is ultimately up to the consumer.
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Man, I must be an outlier.
What I like about Apple Card - the app.
What I don't like:
What I like about Apple Card - the app.
- I get notifications instantly when the account is used.
- The balances aren't confusing as heck to reconcile. I can view the data of my previous spending in different ways.
- I can text questions directly if I need help with the account.
What I don't like:
- The card is tied to one person only. Meaning, my wife and I can't share one account. (this one is a killer)
- I don't think Apple Pay, Wallet are supported in my non-touch ID mac.
It's a good card, with more & more retailers are offering 3% back...
However real catch here is how you can use your monthly purchases from Apple.....
1:Apple Care is now monthly and allows to go past the normal [2] years.
2:iCloud backup another $.99 > 9.99
3:Apple Music
4:Apple News
5:Apple Tv+ or[If bought new iPhone/iPad/MAC] its included already for year.
So you definalty can make some $$$ back and use it for next-generation Air Pods or Beats or new Apple TV
However real catch here is how you can use your monthly purchases from Apple.....
1:Apple Care is now monthly and allows to go past the normal [2] years.
2:iCloud backup another $.99 > 9.99
3:Apple Music
4:Apple News
5:Apple Tv+ or[If bought new iPhone/iPad/MAC] its included already for year.
So you definalty can make some $$$ back and use it for next-generation Air Pods or Beats or new Apple TV
From what I hear, it doesn't hurt your credit score but your established credit history becomes shorter with that closed account. Keeping a long term card open is okay, kill off the shorter term cards.I cancelled another card I had and replaced it with the Apple Card. Cacelling a long time card actually hurts your credit score from what I understand. Now I find out that Apple/GS 's is not reporting credit use/history to the credit agencies. I pride myself in having excellent credit scores. Maybe it's just because it's new they are not reporting yet, but I certainly hope they do in the very near future so I can get back the points I lost.
I could almost swear that a couple of months ago, some people at GS said that AppleCard wasn't worth the time and effort. I can understand some people saying that the AppleCard isn't anything special and maybe it isn't in terms of cash-back percentage. I honestly thought the main reason for AppleCard was to give the 3% return for Apple products and supposedly higher security than other credit cards. That should be good enough for some consumers and I don't see anything wrong with that. Jeez, it's just a credit card and not some second coming for Apple. It's funny how on Youtube there are a number of reviewers telling people not to get the AppleCard, but it doesn't seem any worse than any other credit card. I know people who have about a dozen credit cards for all sorts of reasons and circumstances. Even if you don't use AppleCard, it doesn't hurt to have one.
Worth trying is having a zero balance for a little while, and then calling and requesting they remove the annual fee or you cancel. If you have a solid payment history, they often will do it.
Incredible. Only Apple has the power to do this. I do see Apple Card as the future of money, and the physical card is an object of absolute beauty.
Actually debit is worse for small purchases. The large-bank debit rate, regulated by law, is $0.22+0.05%. The Visa credit rate for a supermarket is $0.05+1.15-1.22%.
(These are the rates charged by Visa which passes them on to the issuing bank, the merchant's bank/processor may have a different way of charging)
That’s why it’s not my only card. I use it for Apple Pay and Apple purchases/iTunes subscriptions. For everything else I use a different card that offers more cash back.
First off not everyone wants to be beholden to Citibank or Chase. If you have had trouble in the past even it's 10-15 years ago but now have excellent credit, those two will never forget and punish you for a long time (business owners have ups and downs - think 2008-2009). So for those of us that are not allowed into the Citi-Chase card monopoly club (the majority of cards are backed by these two too-big to fail behemoths), the Apple Card is a very, very nice alternative. Love it so far. Second Citi-Double is not 2% cash back, it's 1% cash back now and 1% later when you pay them and if you don't pay them in full well it's a royal screw. ["Cardholders earn 1% cash back on what they spend and another 1% on what they pay."]
You, with Citi-Double, also have to accrue $25 at least before you can get that money back, so it's their money till then and earning for them. The first money back I got from the Apple card was $20 straight to my bank before I had even paid them a dime. I'm getting 2% and sometimes 3% in my regular shopping.
also for travelers, "Double Cash assesses a 3% surcharge on transactions processed internationally. While this is common among credit cards, it’s also a deal-breaker if you regularly travel outside the U.S."
I haven't yet traveled out of the country, but the claim for the Apple Card is "no international fees when traveling abroad or shopping on foreign websites". Maybe someone can confirm that.
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I notice that too. Not all the time, but often.
I still get a similar reaction when I use my Apple Watch to make purchases. I sure thought people would be used to that one by now.
I agree Citi Double Cash is good, but the 2.65% minimum on the Bank of America Premium rewards beats it - if you have some stock or something there to get the bonus.
yes, that's a valid reason. in me experience though, you should get your points back soon. or open another card without an annual fee for the time being.
I cancelled another card I had and replaced it with the Apple Card. Cacelling a long time card actually hurts your credit score from what I understand. Now I find out that Apple/GS 's is not reporting credit use/history to the credit agencies. I pride myself in having excellent credit scores. Maybe it's just because it's new they are not reporting yet, but I certainly hope they do in the very near future so I can get back the points I lost.
Got it as a second card, I was wondering about that. Not showing up as in my primary card's credit tracking as additional credit. Yes, it's never good to actually cancel a card unless you have a real problem with restraining yourself from using your available credit. Keep the card and just don't use it. Credit scores give you a boost for the more credit you have that you are not using. If true that Apple/GS is not reporting, you can use it to your advantage. Carry the transactions on the Apple card and leave the other card at zero or little use that is zeroed out every month, and that should boost your credit score by maxing the available credit reported.
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This. Well mostly this. My wife and I not sharing one account has proven to be more annoying than killer, though it also has some nice qualities (eg, purchasing gifts). But, despite the slightly suboptimal rewards, the clarity and transparency of the app and the way Apple uses it to present your spending information so easily that you look at it often has more than made up for any rewards that I've lost - meaning, I've saved more money by NOT making a few purchases than I would have gained in extra rewards on other cards. For my college-age son, the card is so user-friendly that it helps teach him about personal finance. So, overall, I've been very happy with the card.
I read an article that they were not reporting but another poster said that they now are. So I dunno. But thanks for the info.