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Recent Hints Point Toward Apple Card International Expansion

The only reason I want an Apple Card is because the card is pretty. However, I live in Australia, and haven’t used a physical card in years. I don’t carry a bank card, or cash. I don’t even carry a wallet! I have a Bellroy iPhone case with 3-card holder (driver’s licence, Medicare card, and an employee swipe card). I only carry a bank card and cssh while on vacation, just in case.

johannnn said:
Would love just a debit card. I don’t understand America’s craze for credit cards.
/Swede
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To “build” a positive credit history. That’s pretty much it.

I doubt there will be any reason to get onenof these cards in Australia. The interchange fees are so low here that there will probably be no cash back on purchases, and there’s no such thing as “positive” credit scores or history. Here, either you have debt (which means a negative credit score), or you don’t have existing debt. You never have a positive credit score, and are judged solely on your income and likely ability to pay for the amount of $$$ you wish to borrow.
 
johannnn said:
Would love just a debit card. I don’t understand America’s craze for credit cards.
/Swede
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jaytv111 said:
Well, Apple Pay Cash is functionally a debit card, though without a physical card and only Apple Pay.

Credit cards make financial sense for people who can get them and pay the balance each month. You don't have to pay a dime in interest if you're paying on time the amount you charge. And you get paid to use it, compared to a debit card which typically does not pay you anything to use it or gives you very little comparatively.
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Yes, they act as a buffer, let you control your discretionary spending, allow you to track business spending/expenses easily, let you build up a credit history so you can apply for a loan or mortgage if you need one or get a lower interest rate, and give rewards. The UK system generally has no charge to the consumer for holding or using a credit card, unless they fail to pay it off in full, so as long as you're disciplined, you get a free way to manage your money.

Also, at least in the UK, a credit card carries legal consumer protection (card provider is liable if a merchant fails to deliver/goes out of business for major purposes, if the card is used fraudulently, payments can be disputed, etc, and there is a delay before payment is due). In contrast, any protection for a debit card is voluntary and payment is instant (and if there is fraud you may have to argue with the bank that you haven't revealed PIN numbers, let the card out of your possession etc., as well as dealing with your account being overdrawn, bills not being paid, ...). A debit card effectively gives an open tap to your current account. If you can get a credit card, it's much safer for you! I've been a victim of fraud on both types of account, and the experience with the credit card is much more comfortable... Because they're liable, credit card companies take a lot more care to get things right.

So the real question is "why the obsession with debit cards?" :)
 
Morgenland said:
Perfect!
Cash, Debit, Banks, Wallet, Googles Card agents: Museum.
Life can be easy, thank you Apple!
This demonstrates Apple strenght. And it is good that Apple is stronger than the consortium of the banks in the world.
It was not 'bank's competition' that increased innovation or has set consumer-oriented realignment over the last decade.
I am one of the first to cry out when market concentration runs against the consumer, which is not the case here IMO.
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No, it really isn't good that one American multi-nation corporation can be more powerful than the "consortium of the banks" (whatever that is). We've already seen how that pans out in the Apple Store for companies that question Apple contracts.
 
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Vjosullivan said:
No, it really isn't good that one American multi-nation corporation can be more powerful than the "consortium of the banks" (whatever that is). We've already seen how that pans out in the Apple Store for companies that question Apple contracts.
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And although it may come across in the US that Apple invented contactless payments because the American banks are so retarded implementing it, it didn’t invent anything new. It uses an already existing standard widely used in Europe (which is why you can pay with Apple Pay almost anywhere there), and the credit card is well, just another credit card. There’s nothing innovative about apple pay or the apple card other than maybe a fancy app.
 
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Emanuel Rodriguez said:
Yes, but the credit card also has extra protections from identity theft, that the debit card doesn't.

If you don't understand the value of building a credit history, then there's clearly a lot in life you haven't experienced yet.
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Everything can be similarly protected. You may want to authorize transactions individually. I’m not saying that a credit card is not needed in time of need.
As per building a credit history by constantly creating debt and paying it off, I can’t change your mind that this is sick if you grew up like that.
I’m glad that in the EU country I grew at, we didn’t have that BS and guess what, my debt is 0.
Cheers, I hope I get this card soon - in an effort to keep my post related to the topic.
 
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Maclander said:
As per building a credit history by constantly creating debt and paying it off, I can’t change your mind that this is sick if you grew up like that.
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If that is how things work where one lives, it doesn't really matter how someone feels about it.

That said, purchasing things on a credit card and paying them off when the bill is due isn't really some sort of negative thing (and can even come with some protections and benefits that otherwise wouldn't be there).
 
ING Australia yesterday announced it was immediately changing its credit card product name from OrangeOne and wonder if it is related to any Apple collaboration?
 
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unnamed Australian bank could be any of them but not a great time to enter the market with the recession causing the savings rate to soar and credit card numbers to fall. Even so, ANZ was the first major bank to adopt Apple Pay in 2016, and they benefited a lot from going first, and Apple benefited a lot by breaking into Australia. Maybe they could do it again,

i noticed Macquarie suspended credit card applications earlier in the year. i thought it weird that they were the only bank to do that, maybe they were doing a deal with Apple
 
Theyayarealivin said:
This is great news. Expansion is always good. Going global.
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Do you have anything to say about transaction capping fees that apply in certain parts of the world, and the extent to which that can affect money earned by using Apple Card?
 
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Maclander said:
Everything can be similarly protected. You may want to authorize transactions individually. I’m not saying that a credit card is not needed in time of need.
As per building a credit history by constantly creating debt and paying it off, I can’t change your mind that this is sick if you grew up like that.
I’m glad that in the EU country I grew at, we didn’t have that BS and guess what, my debt is 0.
Cheers, I hope I get this card soon - in an effort to keep my post related to the topic.
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My debt returns to 0 routinely, because I pay it off every month (typically multiple times throughout the month. Why wait?). Building a credit history helps you get loans when you need them, loans for things you obviously have never needed (a car, a house, etc.). If you'd put your European elitist attitude aside, you'd see there is great wisdom in proving your trustworthiness to creditors, so that when you need them to trust you with a big loan, they will do so.

I must be too subhuman to understand, poor old me.
 
Superhai said:
Lol, like people don't lend money in Europe. There are many ways for a bank to know what your "credit-worthiness" is.
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There are indeed.

A bit of global and cultural awareness wouldn’t go amiss. I must admit that I still find it funny that the car you drive or whether you’ve been abroad are part of the criteria’s in the Russia market 🤣

Anyway, people’s priorities change over time as do their needs. There is no one size fits all. Traditionally my cultural background is one of save and don’t spend. But hey interest rates are negative in some Euro zone. So that doesn’t necessarily work. Glad crypto trading is still good 👌😍
 
Superhai said:
Lol, like people don't lend money in Europe. There are many ways for a bank to know what your "credit-worthiness" is.
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Definitely, and leaving a long credit trail is a one of the best ways, hence my point. Just because Europeans don't do it, that doesn't mean they shouldn't.
 
Sakurambo-kun said:
Perhaps I'm missing something, but what is the point of this? Apple Pay surely is a much more modern system of payment than carrying around an old school square of plastic?
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Yes, I think you are totally missing the point. This is nothing to do with carrying around a card. Apple Pay works through registered bank cards. This is just another bank card. It can be registered with Apple Pay (probably automatic...) and can be used through Apple Pay.
 
As with everything else Apple, I'll be at the front of the line - awake at 3:00 am if necessary. It will be excellent if it is available to purchase my iPhone 12 Pro for 3% cash back as I would prefer $48 refund over 1600 QANTAS points. At lest it appears that I can look forward to cashback when I upgrade to  Watch Nike Series 7 GPS + Mobile in year 2021.
 
Emanuel Rodriguez said:
Definitely, and leaving a long credit trail is a one of the best ways, hence my point. Just because Europeans don't do it, that doesn't mean they shouldn't.
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There are many different European countries, and they all do it differently. Some countries use private data brokers like in the US, some use single semi-private companies, or a government body to track, and in others you have to provide all the documents yourself to the banks. Some measure everything as in the US, but more stricter privacy laws do limit their ability to collect. But few care much if you are a bit late with small credits as long as you don't default. I don't know if there are better systems than others, but you have to remember that in many European countries the safety net provided by the government is much better than countries like USA. This put lower risk on the banks and the loan-taker, but usually typical loans are more restrictive by the government. I am curious why you think a long credit trail from (usually) small credit loans like credit cards are the best way to measure.
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Mayanja said:
Credit scores simply don’t exist.
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Not exactly true, BKR do scoring.
 
Superhai said:
There are many different European countries, and they all do it differently. Some countries use private data brokers like in the US, some use single semi-private companies, or a government body to track, and in others you have to provide all the documents yourself to the banks. Some measure everything as in the US, but more stricter privacy laws do limit their ability to collect. But few care much if you are a bit late with small credits as long as you don't default. I don't know if there are better systems than others, but you have to remember that in many European countries the safety net provided by the government is much better than countries like USA. This put lower risk on the banks and the loan-taker, but usually typical loans are more restrictive by the government. I am curious why you think a long credit trail from (usually) small credit loans like credit cards are the best way to measure.
[automerge]1599997015[/automerge]

Not exactly true, BKR do scoring.
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It shows fiscal responsibility, and lets lenders be a bit more generous with how much they're willing to loan you. I'd admit that unless you're looking for a large loan, it probably won't make much of a difference, but you never know what you'll need in the future. It's good to have your options open.

The heart of the matter is that there's really no downside, and a few possible upsides.
 
iGeek2019 said:
Here in the U.K. the credit scores shown by Experian, TransUnion and Equifax are merely indicators as each lender has their own criteria when it comes to “credit scoring”-for example you can have a score of 999 (with Experian) but could apply for say, American Express, and be declined and you’ll see comments such as: “but my score is top of the shop, why was I rejected?” and it could well be the score is so high because they haven’t got a strong enough history behind them showing they can pay on time etc. Credit history, and how you’ve conducted your accounts, is far more beneficial.
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Interesting. In US the scores incorporate those sort of things (history, on time payments, age of accounts, number of accounts, etc.) into them.
 
C DM said:
Interesting. In US the scores incorporate those sort of things (history, on time payments, age of accounts, number of accounts, etc.) into them.
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They do in the UK as well. Not sure why iGeek made that comment.

Whilst I used to work for a tier 1 bank and also worked in digital on boarding of new customers for credit cards or cash loans, the ever changing criteria are even to me a dark art. Let’s just say that those “scores” don’t mean much other than to a consumer. And why would a lender want a credit card customer who always pays off the full amount all the time.

I once had a chat on how to approve my score when I first got into the countries. And yes it was to take out a loan; even though I didn’t need one. Then it was don’t pay off the full balance, and yup the balance keeps increasing and my consumer scores is now the maximum on all those systems.

Funny thing is that I now only have a few years left on the mortgage and really no need for credit lines. LOL

The system really seems to favour those with money to give them even more money. Not complaining 🤣 but wish I knew all those when I was starting out. At least my children get the benefit of understanding how it works.
 
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