Thousands of Apple Retail Workers Now Testing Apple Card Ahead of Summer Launch

[MrJeffreyGee]

I wonder how frequently they update the APR for card holders.

 

[TracesOfArsenic]

Well, the card looks pretty cool, but the conditions surely are not that superior in comparison.

You've hit the nail on the head for Apple's design ethos across the board.

 

[newyorksole]

All of the above, and don’t forget 2% cash back on Apple Pay purchased, 1% on all others, and no annual fee, no late charges, no overlimit fee, no foreign transaction fees and no penalty interest rate for missing a payment. Also, privacy, security (virtual card/CVV numbers, which can be regenerated on demand) and lower than average interest rates, for those who carry a balance.

I’m interested to see if the standard Mastercard perks are offered, such as extended warranty, price protection, etc.

Sure, if you’re a points hacker there are better cash back opportunities, but unless you run a lot of charges through your account and never carry a balance, the Apple Card is certainly competitive, while offering some unique advantages.

Thank you! I didn’t really feel like listing everything haha. There are a bunch of perks.

But wait... The best part is that I or you don’t have to justify to ANYONE why we got/get the card. There are plenty of great cards out there. If I want an Apple one too, then so be it. There should be no argument Lol.

You have 1 life to live. If I want to do something that isn’t going to kill me or have any lasting negative consequences then sooo be it.

 

[cuencap]

All of the above, and don’t forget 2% cash back on Apple Pay purchased, 1% on all others, and no annual fee, no late charges, no overlimit fee, no foreign transaction fees and no penalty interest rate for missing a payment. Also, privacy, security (virtual card/CVV numbers, which can be regenerated on demand) and lower than average interest rates, for those who carry a balance.

I’m interested to see if the standard Mastercard perks are offered, such as extended warranty, price protection, etc.

Sure, if you’re a points hacker there are better cash back opportunities, but unless you run a lot of charges through your account and never carry a balance, the Apple Card is certainly competitive, while offering some unique advantages.

This is a well written summary of the benefits. I’m not sure the APR is lower than the average, but I disagree with having to utilize the APR aspect of this card.

Your last paragraph is contradictory. If you are a points hacker, you don’t carry a balance. If you don’t carry a balance, this card may be for you. This card is for those that misuse a credit card, run a balance, and would normally pay astronomical fees and penalties.

 

[vipergts2207]

Do you know that in NYC, Apple Retail employee’s usually start between $18-$21/hour? Apple pays higher than most other retailers.

...

If an employee buys 3 computers for friends/fam at $1K a pop, that’s $90 INSTANT cash back loaded DIRECTLY onto the Apple Pay Cash card which can be INSTANTLY used. It’s not points. It’s not miles. It doesn’t have to be redeemed through a special portal. It’s INSTANT cash.

That $18-21/hr in NYC probably has someone living like a pauper with the cost of living there.

And the scenario of buying three computers for friends/family applies to probably a vanishingly small number of people. And if you did the same thing with a Citi Double Cash card, you still net $60 (yes cash, not points/miles), plus have the benefit of getting 2% on ALL other purchases, not just some.

All of the above, and don’t forget 2% cash back on Apple Pay purchased, 1% on all others, and no annual fee, no late charges, no overlimit fee, no foreign transaction fees and no penalty interest rate for missing a payment.

Those benefits come with any card to anyone who isn’t a financially incompetent moron.

 

[PickUrPoison]

Not hating, but it makes zero financial getting this ( esp if you’re on lower end of the income curve, which (generally) most retail workers are ..) Are Apple employees getting an additional discount/benefit buying apple products over what they normally get (using ANY other CC with cashback, rewards, miles, free extended warranty, price protection, theft protection etc etc ) ?

Also, as stated above, there’s numerous CC with cashback ( and more ) benefits, so the Apple employee buying Apple products for friends/family with discounts, will benefit the same.

I suppose my idea of enjoying doesn’t involve taking hard hit to flaunt just another CC with a fruit logo on it, and use my credit for when it begets meaningful (to me) and substantiated returns.
[doublepost=1560991202][/doublepost]

Really ? For starters, one of my Amex Rewards cards offers 3% cashback on ALL ( no exceptions, $5000 cap, $99 annual fee that easily pays itself ) purchases. In addition to that, I get extended warranties, price and theft protection, and no fee foreign transactions ( if applicable, but a benefit nonetheless )

I won’t even go into the awesome benefits afforded with their Titanium Platinum Card ( albeit with a $450 annual fee, with benefits that supersede the annual service charge for me )

Maybe I misunderstand, but your Amex 3% cash back card gives you a max of $51 a year, net of the annual fee? Not sure which Amex product that is but it doesn’t seem like a very good cash back card.

Amex has some good perks, but I haven’t really known cash back to be one of them.

 

[bommai]

Why does have to be the sleaze ball Goldman Sachs!!!
[doublepost=1561005559][/doublepost]

That $18-21/hr in NYC probably has someone living like a pauper with the cost of living there.

And the scenario of buying three computers for friends/family applies to probably a vanishingly small number of people. And if you did the same thing with a Citi Double Cash card, you still net $60 (yes cash, not points/miles), plus have the benefit of getting 2% on ALL other purchases, not just some.



Those benefits come with any card to anyone who isn’t a financially incompetent moron.

My Marriott Card comes with 3% cash back on restaurants. My sams club Card has 5% at gas stations and of course my amazon Card has 5% at Amazon.

 

[BF1M]

The big showstopper for me is that the card can only be for one person. My wife and I share credit cards, it is just simpler that way. I can't imagine either of us wanting this card until they can offer it in a version where there can be a second card holder.

Where is this addressed? Authorized user is important to me as well.

 

[ipponrg]

Those benefits come with any card to anyone who isn’t a financially incompetent moron.

Keep in mind this card is likely meant to attract those that are not financially savvy aka most of the US population or those that want some privacy around their purchases.

I’m sure Goldman is banking on these to be the case.

 

[PickUrPoison]

This is a well written summary of the benefits. I’m not sure the APR is lower than the average, but I disagree with having to utilize the APR aspect of this card.

Your last paragraph is contradictory. If you are a points hacker, you don’t carry a balance. If you don’t carry a balance, this card may be for you. This card is for those that misuse a credit card, run a balance, and would normally pay astronomical fees and penalties.

Last paragraph is not meant to be contradictory; I’ll rephrase it so it’s clearer. If you’re a points hacker there are better options, but unless you have high transaction volume and never carry a balance (i.e. you are a points hacker), the Apple Card can be a good option.

I get that the best use of credit cards is not to carry a balance, but at least here in the US, most people live paycheck to paycheck. Fewer than 40% can cover an unexpected expense of just $500, and many use credit cards to cover those types of expenditures.

https://www.thebalance.com/can-you-handle-a-500-00-emergency-4058561

 

[brgjoe]

Is the card waterproof or water resistant? Have they made protective cases for it yet?

To me, unless one is an Apple fanatic (granted, probably more than a few on here), I don't see how this is much different than any other rewards card(s) out there. So I will most likely wait until the early adopters start using it and see how well it goes for them before I take the plunge.

Sure looks purty though.

 

[PickUrPoison]

<snip>
Those benefits come with any card to anyone who isn’t a financially incompetent moron.

That’s an incredibly arrogant, condescending and judgmental statement.

With only about a third in the US able to cover an unexpected expense of just $500, nearly two-thirds would be reaching for their credit card—and be glad they have it (many don’t). Even if it’s an Amex cash back card with a 26% regular rate and 29.99% penalty rate, they’d be carrying a balance. May you never be in that situation.

 

[mrboult]

An apple credit card!? oh FFS... Why, what, wait...

In not entirely sure why, but i find this a sign of the beginning of the end for Apple... Who on earth decided anyone needs an apple credit card??

 

[brenton289]

I thought it was already available, I guess that shows how interested I am in it.

 

[rom3o]

Who on earth decided anyone needs an apple credit card??

It would have really impressed me if they had managed to offer this card worldwide, instantly making Apple Pay available everywhere without the need for local banks to support it.
Honestly wouldn’t have cared for any of those cash-back features, since most of our regular credit cards also don’t offer such.

 

[Abazigal]

How long before Apple goes from improving the current financial system (with its own take on the credit card) to introducing their own digital currency and becoming a part of the financial system itself?

 

[DCIFRTHS]

How pissed are people going to be when they insert the (very cool looking) physical card into the terminal, the the card gets scratches from the contacts that read the chip? I know I would be annoyed.

 

[YaBe]

Not getting gen 1, i'll let you all be the guinea pig ...
Man I miss those days

Also waiting for gen 2, it is usually slimmer and better, or for the Apple Card 2 XL r - PLUS AMOLED , might get the PRO version with exclusive Force touch and face id.

 

[PickUrPoison]

I thought it was already available, I guess that shows how interested I am in it.

It’s available to 35,000 or so Apple retail employees and some number of Goldman employees as well. It’ll launch within the next couple months.

I wonder if there will be 0% offers for iPhone purchases come September? Wouldn’t surprise me at all.

 

[littyboy]

Kind of hypocritical since I recall when Apple announced Apple Pay, they had this little commercial that demonstrated how annoying it was to pull a card out of your wallet/purse vs using apple pay on your phone/watch. Then turn around years later to come out with a card?

 

[Tech198]

Testing is a good thing! Just ask Samsung.

lol... not likely.

 

[Brian Y]

The card is a status symbol but that crap went out with the first Dynasty show in the 80's. Apple is now a parody of itself.

But I don't know exactly what status this is supposed to reflect. Surely, even though the benefits massively outweigh the cost, something like an Amex plat is more of a status symbol (and the fact that you have >$500 to splash on a card).

I just don't understand (in the UK at least) who would go for this other than die hard Apple fans. Those who carry balances would go for a 0% balance transfer card. Cashback hunters can get higher levels of cashback elsewhere, and frequent travellers/points hackers would probably go for an Amex platinum/hotel/airline cobranded card.

 

[mattopotamus]

How pissed are people going to be when they insert the (very cool looking) physical card into the terminal, the the card gets scratches from the contacts that read the chip? I know I would be annoyed.

The metal cards handle this quite well. Sure they show wear and tear, but it’s no worse than using a phone naked.

 

[Abazigal]

Kind of hypocritical since I recall when Apple announced Apple Pay, they had this little commercial that demonstrated how annoying it was to pull a card out of your wallet/purse vs using apple pay on your phone/watch. Then turn around years later to come out with a card?

The card is there only for places that don’t accept Apple Pay. Else, there is no reason to not use Apple Pay, since you earn more rewards that way.

There is no hypocrisy here.

 

[BlueCreek]

Well, the card looks pretty cool, but the conditions surely are not that superior in comparison. So I miss the killer incentive for joining in to be honest.

Main reason for me is it’s global currency, I have a card at the moment that doesn’t charge fees for different currency, but I’d ditch that for this which is tied in with Apples eco-system and offers cash back