Actually the interest is on par with most credit cards even a tad lower. "High as hell" if your credit is garbage. In which case stay away from credit cards, PERIOD.
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JCPenney Removes Apple Pay Support From Its Retail Stores and Mobile App [Updated]
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Except nobody's shown that the 0.15% the card issuer pays to Apple is actually passed on to the merchant in a separate manner. Every resource I've found suggests the opposite in fact, that merchants either see no change in merchant fees or actually see a lower merchant fee for AP transactions.
I laugh at outrage from a lot of people. Lets be honest the biggest users of Apple pay and JCPenny bread and butter group are not the same people.
Top it off Apple pay at stores I have found is meh. I use it from time to time but even then it not a big deal and it really has no real affect on if I will shop at a place or not.
I am also going to assume for most people that is really the same thing.
Top it off Apple pay at stores I have found is meh. I use it from time to time but even then it not a big deal and it really has no real affect on if I will shop at a place or not.
I am also going to assume for most people that is really the same thing.
So if we stick to the average consumer, the published Apple Card interest rates are on par with other options or even a bit lower.
Completely opposite your claim that "apple card interest rate r high as hell"
Yes because I carry multiple cards so I can pick and choose which card to use when for specific categories; sams-club card at gas pumps, or chase freedom this quarter at grocery stores, or discover at restaurants next quarter, etc. I'm trading off the trouble of keeping up with a bunch of different cards and which to use where for a slightly better benefit.
Since we're talking about "the average consumer", who doesn't have a bunch of different cards from which to choose the one with the particular bonus benefit this quarter, a flat 2% cash back on every apple pay transaction anywhere is pretty good. Hardly something to justify your claim that "the reward system is a joke"
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As others have said, chip cards aren't as secure because the number never changes, also cards and cash can be stolen and used, If my phone is stolen, they can't use it, so less likely to be stolen. I also don't like carrying cash or cards, I don't even have a wallet, I carry one debit card and my drivers license, and hope someday those will be digital. So this Apple Pay does benefit ME, and probably many like me.
Also JC Penny is going out of business because they are bad at business. If they can't afford to accept Apply Pay(which is free for the merchant), then they will also have to stop accepting cards all together and take only cash. If your business is failing, limiting the way you get money, is not a good solution to making more money.
I still haven't updated my iPhone past 10.3, because my daughters' favorite iOS game is a 32 bit app. Come to think of it, it's my favorite time waster too.
I really didn't need another reason not to shop at JC Penny's. Makes me appreciate Kohl's even more.
Definitely true but it's getting better. I'm able to use my Apple Watch to pay at a lot more places now. When I've been to Europe recently I've really be pleased at how many places I can pay with Apple Pay.
Definitely true but it's getting better. I'm able to use my Apple Watch to pay at a lot more places now. When I've been to Europe recently I've really be pleased at how many places I can pay with Apple Pay.
like you said we have yet to see how apple's apr will range base on credit scores, so your opinion hold as much ground as mine.
2% cash back is average, my chase has 3 percent, and my significant other have even higher.
I still carry a few cards both because I like maximizing cash back benefits, but also because I regularly shop at some places that still don't accept Apple Pay or any other contactless payment AFAIK (HomeDepot, Lowes, Publix, Kroger).
One thing I don't carry is a debit card. Only place I'd ever use it is the ATM, and my bank supports card-less ATMs via their app.
After listening to a coworker deal with a stolen debit card / empty-bank account, I'd rather not have one at all if I could help it. He spent hours on the phone with the various places he had payments in flight to when his account got emptied. He got his money back in the end, but not the hours of time sorting it all out.
Hassle???????
I don't know where you are located, but it is far from a hassle, one button to activate it and then hold it over the contactless device, versus, swiping or inserting, going through three to five questions, entering pin, and then waiting.
Sorry I don't see it as a hassle at all, it is my preferred way of paying to boot!
Exactly - there's no real basis for your claim of "high as hell" other than your guess.
Cool, so now it's average. That's an improvement over "the reward system is a joke".
Which specific Chase card offers 3% cash back on everything? Closest I see is that Chase has a promo 3% for a year (on a max of $20k) for new cardmembers, but then it drops to 1.5%. Which Chase card provides 3% ongoing?
Also, what card does your SO have that's even higher?
Please be specific, as I'm sure others would be interested in such cards. Not seeing anything at Nerdwallet that matches this though other than temporary promo rates, or rotating-category cards, or BoA's choose-a-category card.
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Remember, we're also hearing from people who tried ApplePay a couple times three years ago when few POS systems handled it and even fewer cashiers had any idea what to do with it.
sure go ahead and accuse me of making stuff up.
If the goal post at avg American credit card sure apple card isn’t bad, but there r better cards with better reward system,
For mile/points hackers, especially those who want to use points for travel and have airline status, there are certainly card combinations that offer better value. For most people, 2% is quite good. There are many 1.5% cash back cards, and it would be really easy to use one of those for non-ApplePay transactions and not have to spend any mental energy on remembering which card to use when.
Using groceries vs. Apple Purchases as you said above (and not looking at other possible ways a small number of points/mile hackers can benefit using other redemption strategies), and looking at the cash back cards ValuePenguin lists, two offer better than 2% on groceries: AmEx Blue Cash Preferred and Blue Cash Everyday.
AmEx Blue Cash Preferred offer 6% cash back on the first $6,000.00 in groceries, purchased at stores coded as groceries and 1% after that. It has a $95 annual fee (meaning that for $2,375 your extra 4% just cover the annual fee) and does not credit purchases made at Target, BJ’s, Costco or any other non-grocery retailer that sells groceries (nor most farmer’s markets using Square or equivalent).
Using an average for a family of four of $12,000 (nationally, the monthly average range for a family of four is $750-$1,150), one would have to spend $4,250 just on Apple products to be the equivalent of the grocery store spending.
For the AmEx Blue cash every day, it is 3% for $6,000 and 1% after that. Using an average of $12,000, the Apple Card is exactly the same (an average of 2%), but 2% higher on Apple Purchases (3% vs. 1%) and on any groceries purchased at non-grocery retailers.
While for people who are interested in investing time and energy in maximizing points/mile redemption strategies, there are ways to do a bit better than a simple 2% on all ApplePay transactions, Apple AppleCard is a pretty solid choice for most people. To paraphrase the old MasterCard commercial: “Not having to spend time deciding which card to use with ApplePay: Priceless”.
Everyone sitting here talking like JCPenney will be dead by the end of the year have obviously never shopped there. They are still crazy busy here in the southwest. The stores are clean, well stocked and fully staffed. You visit them and you couldn’t even tell that the company isn’t doing well. JCP will go through a restructuring and wind up fine.
As far as Apple Pay goes, I rarely see it used and rarely use it myself outside of online purchases. It has more to do with the fact that a lot of retailers I shop at don’t accept it. Take for example groceries. Here in Arizona we have three main grocers: Fry’s (part of Kroger), Bashas’ (local) and Safeway/Albertsons. The most popular (and cheapest) by far is Fry’s, and Kroger does not accept Apple Pay company wide. Even when I shop at Bashas, I don’t see anyone using Apple Pay. I just sorta forget about it and pull out my debit card which has only ever run as chip and pin.
Gas pumps don’t take it, my grocer doesn’t take it, Walmart doesn’t take it, most store cards don’t work with it, so it’s honestly worthless to me. It’s sad because it’s so convenient with Apple Watch. The most use I give it in-person though is at Goodwill because they accept it, but I’m not going to uproot my entire shopping routine, have to learn new stores and pay higher prices just to use Apple Pay.
As far as Apple Pay goes, I rarely see it used and rarely use it myself outside of online purchases. It has more to do with the fact that a lot of retailers I shop at don’t accept it. Take for example groceries. Here in Arizona we have three main grocers: Fry’s (part of Kroger), Bashas’ (local) and Safeway/Albertsons. The most popular (and cheapest) by far is Fry’s, and Kroger does not accept Apple Pay company wide. Even when I shop at Bashas, I don’t see anyone using Apple Pay. I just sorta forget about it and pull out my debit card which has only ever run as chip and pin.
Gas pumps don’t take it, my grocer doesn’t take it, Walmart doesn’t take it, most store cards don’t work with it, so it’s honestly worthless to me. It’s sad because it’s so convenient with Apple Watch. The most use I give it in-person though is at Goodwill because they accept it, but I’m not going to uproot my entire shopping routine, have to learn new stores and pay higher prices just to use Apple Pay.
You’re on MacRumors. Surely there’s enough articles about how to use it here.
Twitter is my first step these days when I have a question or some feedback for a company. It's quick, simple and can be create a conversation with other customers at the same time. Drives me nuts when these companies have a canned response saying to open a support ticket by email, or re-send the message via Direct Message. They are sometimes trying to minimize that public conversation, as if they have something to hide.
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Double-tap Home button or slide up from the bottom of the Lock screen, and all of your registered payments cards are there. Select the card you want, and TAP. That's it. Your payment is authenticated. It's not a hassle at all. It's better than pulling your wallet out and digging around for the correct card to pay with.
A Direct Relationship with the Customer is EXTREMELY valuable.
Apple Pay does NOT provide that !
Apple Pay does NOT provide that !
https://www.businessinsider.com/macys-jcpenney-closing-stores-2019-1
Retailers are suffering. Their business models are not translating to 2019 buying trends (online). They are going the way of Blockbuster because they cannot catch up to modern purchasing habits. Just because a few stores are successful doesn't equate to an economically solvent company.
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I don't use apple pay. BUT I'm curious to see how apple pay doesn't provide a relationship with the retailer. I would think that ease of use (which is what I think apple is shooting for) would build customer relationships.
The retailer doesn't pay Apple, they pay the SAME fee as a regular credit card swipe to the bank. Apple gets paid from the bank, so the bank actually gets paid less, but they know Apple Pay is more secured, so they see it as they are saving money in the long run.Im amazed at how many of you sheep would rather see JC Penny go out of business then say, use cash or just swipe a physical card..... All over a stupid form of payment that benefits YOU in no way at all! Chip cards are just as secure and cash doens't need to be secure because its cash! This guy who tweeted is straight up retard.... and after reading some of these comments, im starting to question this community.You literally want 95000 people to suddenly be without employment because you can't use your phone to pay and give apple their .15% cut?! The same company that will re-release another useless product in a few months and jack the price on it from the previous gen. Some of you need to grow up and reconsider some of the terrible choices you have made in your life that have brought you to this point.
"No. Apple doesn't charge any additional fees."
https://support.apple.com/en-us/HT204274
Depends on how you redeem. Chase points can be used to transfer to airlines or hotels. Same with Amex points. Amex business plus is 2x every where. Gold is 4x groceries. Both give offers frequently.
Apple didn’t go far enough. Surprised they didn’t get iTunes in there somehow for higher redemptions.
Apple and Goldman Sachs have stated that they intend to pick the lowest rate in the band for which a consumer qualifies. Apple Card’s stated rates are 13.24% - 24.24% a minimum of 2% lower than Citcorp’s Double Cash Back range, and lower than most cards from Chase. Again, there are some cards with lower rate ranges, but not many rewards cards.
I will take Apple’s statements over his guesses any day.
Yup, but average does not sound as bad as “is a joke” and makes being critical so much less rewarding.
Out of touch.. its the same with so many stores. I blame two things .. old men that are CEOS that should have retired years ago, not changing with the times, under paying your staff(Constant Turnover) and then doing things like this. I’m surprised this company even has a twitter account.
This should be seen as a hint that JCPenny is going to be another retail closure casualty.
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Apple and Goldman Sachs have stated that they intend to pick the lowest rate in the band for which a consumer qualifies. Apple Card’s stated rates are 13.24% - 24.24% a minimum of 2% lower than Citcorp’s Double Cash Back range, and lower than most cards from Chase. Again, there are some cards with lower rate ranges, but not many rewards cards.
I will take Apple’s statements over his guesses any day.
Yup, but average does not sound as bad as “is a joke” and makes being critical so much less rewarding.
Apple Card is not Apple Pay. Apple Card is card you can add to use with Apple Pay.
The US definitely won't reach 100% merchant adoption, at least not without significant changes. For one thing, a lot of the holdouts are the ones who've had grievances against the card networks for quite some time (Kroger with disabling Visa credit card support at some of their brands, Walmart with their infamous "as long as it hurts the card networks" comment re: CurrentC, etc.); as long as interchange continues to be an issue of contention, those will continue to push back.
Additionally, Americans are still mostly okay with having cashiers run cards for them. It's why there hasn't really been a push to support it at restaurants, for instance. In fact, companies like Clover are now coming out with POSes that have chip card slots built in so that merchants won't need to buy PIN pads or contactless readers if they don't want to (though to Clover's credit, they do sell a receipt printer with built-in contactless).
That all said, as of this writing, nearly 73% of EMV enabled businesses that I know about also support contactless, which is frankly higher than I thought it'd ever end up being. And I do see Apple Pay and similar used at least a few times a week now, whereas I'd go months without seeing it a few years ago. It might simply be a matter of people having unrealistic expectations about its adoption, especially considering how long it took for the US to get EMV in the first place.
Another possibility is that there's an upcoming Visa requirement around contactless payment that could potentially require JCPenney to develop/certify/release new software. If no one's using NFC already, there's no point in bothering to do that development. Since they can't keep contactless on without satisfying that requirement, it needs to be turned off.
However, that wouldn't explain why it disappeared from the app as well.
Theoretically yes. However, at least in the US, debit cards could end up getting routed over the Visa or MC networks instead of the less expensive debit networks (STAR, PULSE, etc.) if tapped instead of inserted--which depending on the issuer could cost stores significantly more. If most of your customers use debit cards instead of credit cards, I can see that being a hassle.
From what I understand, it was broken only for MC/AmEx/Discover; Visa still worked. As far as I know, that particular problem should be fixed now.
Whether a store can get even a 1Mb/s connection for anywhere approaching a reasonable cost (or at all), on the other hand, is unfortunately not a given in the US. I remember reading something a few years back about how something like 50% of merchants in the US were still using dialup (though I don't think it went into details as to why).
Anyway, I kinda feel like terminals and cards in the US should have been made offline preferring when we moved to chip--even if only for small transactions--since we're the country with the expensive, relatively slower network connectivity now. However, I'm not sure how people would feel about not being able to see transactions in online banking or not having an up to date available balance for potentially days after using a particular card.
It's actually between Apple and the issuing banks (Chase, Citi, Capital One, Bank of America, Amex since they issue their own cards, Discover since they issue their own cards), as opposed to the payment networks. Because of that, the small chunk Apple gets is even more obfuscated away from the merchant/payment processor. I guess in theory, someone like Chase could object to the fee and try to pass it along, or stop supporting Apple Pay, but Capital One would be more than happy to eat that small percentage. Either way, the argument that it gets passed along to the merchant that I keep seeing would be very hard to actually make happen.
I've seen a few posts about great JCP experiences, and I'm typically the last to wish misfortune on any retailer/chain (because competition and options are always good), but at least in the Midwest, most have been mediocre at best—stores are old, outdated and often look like a rummage sale. Kohl's, Macy's (still wish it was LS Ayres and Marshall Field's, but that's a different argument), and Von Maur seem to have a much better operation. Ron Johnson was instrumental with opening Apple's retail stores and left to go refresh JCP—if you read up, he actually got his start with Dayton's and Target and was part of Target's big rise in the '90s. I loved the supposed idea of JCP becoming a sort of "nicer" Target in terms of clothing, but there was a lot of pushback at upper levels and he was gone before things kind of went back to the same.