Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Thousands of Apple Retail Workers Now Testing Apple Card Ahead of Summer Launch
- Thread starter MacRumors
- Start date
- Sort by reaction score
Most places do NOT require a PIN for a credit card. That's dependent on the issuing bank, not the retailer. Most US banks still do not require PINs for credit cards. No telling which way GS will go at this point.
I realize this is different outside the US, but this is a US credit card.
[doublepost=1561069613][/doublepost]
In the US, it doesn't hurt your credit rating to have an extra card even if it's only used occasionally. 3% on Apple products and 2% on Apple Pay purchases isn't bad. For purchases with the physical card, I'd likely use a different card.
Actually I could have come up with many more adjectives to describe your statement. But I think arrogant, condescending and judgmental are sufficient, and descriptive. Sure, people should make their payments on-time and not go over their limit. I’m right there with you.
But things happen. Businesses go under. Auto plants shut down. People get laid off. Or fired. Or have to cover a car repair. A root canal. A medical bill for themselves or someone in their family. Whatever. Stuff happens, and just because someone misses a payment or goes over their limit, that doesn’t mean they are a “financially incompetent moron” as you so colorfully put it.
Should these cardholders have to be subject to the Amex or Capital One et al 29.99% penalty rate and $25+ late fee, or overlimit fee? Well, Apple doesn’t think so. So for “poor people” as you call them, yes, the Apple Card is better than any other I know. Maybe Apple’s lack of fees will put market pressure on other companies to stop punishing their customers with penalties. Maybe if those other companies lose enough customers, they’ll even lower their interest rates (but probably not).
Last edited:
Where did you get ' a max of $51 a year ' from ? It has a $5k annual cap on cashback.
Again, most of those people and their emergencies would better be served by other cards. If you lose your job, that’s the exact time you want to get an 18 month 0% APR card, not use a card where you’re paying 13% APR at a minimum. The former is smart and savvy, the latter is stupid and expensive. You’re already going to be racking up monster credit card debt, you certainly don’t want to be accruing interest on it. Same with unexpected medical bills. Those generally aren’t pay immediately. You’ll eventually get a bill in the mail and in the meantime you can sign up for a 0% card. A car repair bill might be one of the few situations where your need to pay relatively quickly would be an issue, and if your only card is the Apple card, it may be your only option. Of course then a person who’s not financially illiterate would sign up for a no balance transfer fee card and transfer it ASAP.
Why are these hypothetical people missing a payment anyway? Because they don’t have the money? That’s definitely not going to be helped by accruing interest on their debt at 13%+. Not to mention the Amex penalty rate isn’t much higher than the Apple card top end rate.
Last edited:
So what exactly am I supposed to be concerned about again?
If everyone were as financially savvy as you, Americans wouldn’t have over a trillion dollars in revolving debt, and credit card companies wouldn’t rake in $25 billion a year from annual and penalty fees.
Let’s stipulate that many US consumers aren’t good with money, OK? That’s a fact. I’m certainly not defending poor financial decisions, but I am contesting your description of such a person as a “financially incompetent moron”. You can retract or stand by it, suit yourself.
A person making poor financial decisions isn’t a financially incompetent moron? How would you describe them? And I absolutely stand by what I said.
Like I said, I don’t know which Amex product you’re referring to. Blue Cash Everyday has this cash back schedule:
I thought the $5,000 you mentioned was $5,000 per year in purchases, which would be $150 at 3%.
So which card is the 3% on everything? I haven’t been able to locate it. The Amex site isn’t all that user-friendly.
I would describe them as having made a poor financial decision.
And I’ll stand by my characterization of your “financially incompetent moron” statement (and others) as being arrogant, condescending and judgmental. So I guess we’ve gotten nowhere.
Anyway, hopefully the tens of millions of consumers who paid $25 billion in annual and penalty fees to other companies last year will switch to the Apple Card. Win-win.
Last edited:
Characterize it how you wish, I’m not the one being taken for a ride to the poorhouse by the financial sector lol. Hopefully the tens of millions who paid penalty fees wise up for their own benefit; screw Apple’s and GS’s ‘win.’ And annual fees are a different animal, and potentially very much worth it if there’s a card that matches your spending habits.
I’ve never seen one, which is why I assumed OP meant 3% on the first $5,000 in purchases. I think that’s likely to be the case, maybe OP will reply.
Last edited:
Faster Apple, Faster! waiting to make this my second card, perfect for what I do.
all the snark on here is silly. I'm excited to get this.
all the snark on here is silly. I'm excited to get this.
only an incentive to use Apple card.... Much like you get free frequent flyer points. It may make people ditch their existing VISA or MC, but since its only in the Apple eco system, just like anything, it won't be a huge change.. For Apple users it will be, but not for everyone else..
We'll still be using our MC's (and getting in debit as usual.) If Apple released an Android app for it, perhaps you may see better coverage, but they want you to buy iPhones.
We'll still be using our MC's (and getting in debit as usual.) If Apple released an Android app for it, perhaps you may see better coverage, but they want you to buy iPhones.
Comments like this are the reason I don't come to this site much anymore. Its ALL negativity.
I think the disappointment stems from the fact that’s a nice looking physical card. That is absolutely horrible to use in most instances. It’s sort of like getting a trophy you won’t ever want to use. I understand Apple is pushing Apple Pay but don’t like the difference in rewards for using one or other.
As for better rewards cards? We could have a sub forum for that because it’s a hobby altogether.
Citi double cash is 2 percent but also comes with other benefits. PayPal master card is 2 percent. Cap one has one. Many are 1.5. These are the cash back ones. My credit union one is 5 percent back on gas. Sams and Costco offer 3 percent on a variety. The list goes on.
Then there’s points like chase or Amex that are valued at nearly 2 cents a point because they can be transferred. Frequently there’s special transfer rates. Plus there’s incentives on top of earning rates such as save 100 off a 500 amazon purchase. Or save 30 using this company. Etc. Plus the other perks like gold status at a hotel, doubling warranties, etc. Chase freedom unlimited is 1.5 but its points. Amex business plus is 2 percent for Amex points. Just a couple examples. Amex gold is 4x groceries.
There’s bonuses for signing up for many as well.
Point is Apple could’ve done a bit more here. For Apple itself I usually avoid them. Retailers offer better sales usually which negates the whole argument. But always use veteran discount now when that rare purchase at Apple comes up. I don’t see Apple Card making me want to use Apple Pay. Needs a few more incentives or perks.
As for better rewards cards? We could have a sub forum for that because it’s a hobby altogether.
Citi double cash is 2 percent but also comes with other benefits. PayPal master card is 2 percent. Cap one has one. Many are 1.5. These are the cash back ones. My credit union one is 5 percent back on gas. Sams and Costco offer 3 percent on a variety. The list goes on.
Then there’s points like chase or Amex that are valued at nearly 2 cents a point because they can be transferred. Frequently there’s special transfer rates. Plus there’s incentives on top of earning rates such as save 100 off a 500 amazon purchase. Or save 30 using this company. Etc. Plus the other perks like gold status at a hotel, doubling warranties, etc. Chase freedom unlimited is 1.5 but its points. Amex business plus is 2 percent for Amex points. Just a couple examples. Amex gold is 4x groceries.
There’s bonuses for signing up for many as well.
Point is Apple could’ve done a bit more here. For Apple itself I usually avoid them. Retailers offer better sales usually which negates the whole argument. But always use veteran discount now when that rare purchase at Apple comes up. I don’t see Apple Card making me want to use Apple Pay. Needs a few more incentives or perks.
I was replying to someone who said it was lame for Apple to include a physical card when they were the creator of Apple Pay. So I was pointing out that we still need physical cards.
Trying to be polite but I don't think you know what the heck you are talking about. Maybe you don't live in the US.
How many dang cards do you have anyway?
A lot of those you name come with fees. Most rewards cards I've seen come with annual fees.
A lot of those perks only make sense if you spending a LOT of money on these cards.
I don't shop at Sams (fee) and I don't shop at Costco (fee).
Paypal I don't trust. They are are s#&* show in the security department.
Amex only makes sense if you work for company and use it for monthly expense account or such, and someone else pays the fees, or you want the high end versions as some kind of status symbol.
Points are worthless to me. Points are just a way to get you to spend more money with restricitions on things you don't really need.
Chase, Citi, etc. all pretty bad actors. that I want nothing to do with and Credit Unions generally have cards run by them.
My local grocer that I would shop at anyway gives me 10-20% off on local normal price of gas just for buying food regardless of how I pay for it.
Apple Card -
1) No annual fees. No fees.
2) Security
3) privacy
...
#) way down the list of important is the rewards bit, nice that it's immediate and real money.
But the first priority is that if I'm not currently using it, it's not burning money in my pocket. And I when I use Apple Pay, have another option than my primary (no fee) current card.
There are a LOT of things that I wish Apple would do differently, but you know what? I’m extremely happy with their products/services. I give credit where it’s due.
The fact that people sit on these forums and b**** and complain about everything is so sad. It’s sooo negative on here. I could NEVER be so fed up with something that I constantly still use it or buy it. People are so weird.
[doublepost=1561505215][/doublepost]
Lol don’t you think Apple thought of all of this? They’re aware that there are MANY cards out there that have better rewards/perks. They don’t care! Lol.
People are going to sign up for the card regardless. The features of the card are great. Could it be better? Of course. That’s why most people have multiple cards because each card offers something different. No 1 credit card has it alllllllll.
Let Apple do what they want. If you want something else, go for it.
[doublepost=1561505441][/doublepost]
Thank you! I have 40,000 AMEX ‘points’ and have to be very careful using them so that I can get the maximum value. With Apple Card I’ll get the cash back everyday and it’s REAL money. I buy a lot from Apple due to my job. Very much looking forward to this card.