Apple Card

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furwut
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Re: Apple Card

Post by furwut » Wed Mar 27, 2019 6:11 am

Eno Deb wrote:
Tue Mar 26, 2019 3:41 pm
ohai wrote:
Tue Mar 26, 2019 1:16 pm
The titanium and looks thing should not be underestimated. If you have 3 different cards in your wallet, you'll choose the one that looks and feels nice.
Oooh, so nice and shiny. My precious! :D

I'm wondering if there's any real advantage to not having the card number and CVV printed on it. I always have a bad feeling when a waiter in a restaurant disappears behind the curtains with my card ...
That is the advantage.

Eno Deb
Posts: 93
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Re: Apple Card

Post by Eno Deb » Wed Mar 27, 2019 9:59 am

sunny_socal wrote:
Wed Mar 27, 2019 4:37 am
These days data is a very precious commodity, there's no way Apple is letting all of that fall on the floor or just keeping it locked up in their 'secret' database.
Of course there is: if they feel that the marketing value of being known as a privacy-conscious company is higher than the expected return from monetizing their users' personal information. For me personally, the fact that Android is controlled by Google (the world's largest data collector and advertising company) is one of the main reasons why I prefer iPhones. Apple has a very different business model.
It's not a question of IF you data will be used (or breached) but when.

ust for grins, check yourself here:
https://haveibeenpwned.com/

Still feel secure? Apple and GS are just tech companies with a product to sell. What someone can design & build, someone else can break. :wink:
Not sure why you are conflating data breaches with corporate business models. One has little to do with the other.

essbeer
Posts: 198
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Re: Apple Card

Post by essbeer » Wed Mar 27, 2019 11:06 am

I'm not surprised that credit card enthusiasts are giving the card a thumbs down. But even the Apple fan magazines and sites are saying you can do better elsewhere. Even the Goldman Sachs analysts are saying it's a mediocre offering.

It wouldn't surprise me if Apple changes the card to a flat-rate 2% before it's released. Then you'd have a card that is at least competitive.

inbox788
Posts: 6421
Joined: Thu Mar 15, 2012 5:24 pm

Re: Apple Card

Post by inbox788 » Wed Mar 27, 2019 12:32 pm

essbeer wrote:
Wed Mar 27, 2019 11:06 am
I'm not surprised that credit card enthusiasts are giving the card a thumbs down. But even the Apple fan magazines and sites are saying you can do better elsewhere. Even the Goldman Sachs analysts are saying it's a mediocre offering.

It wouldn't surprise me if Apple changes the card to a flat-rate 2% before it's released. Then you'd have a card that is at least competitive.
I doubt that would happen. There's not enough profit to go around, and someone would need to subsidize the card. I don't think Mastercard, Apple or Goldman Sachs are in the charity business.

The Barclays Apple card gives good rewards for Apple purchases and is costing Apple money by subsidizing the card, but they make it up in the Apple product sales. Barclay is making good change servicing the card or they wouldn't be doing it. Similarly, Mastercard and Goldman are getting their slice of the transaction fees and Apple is willing to give up it's share (and even subsidize it a little if necessary) if you buy Apple services or use Apple Pay (which they collect their fees on all purchases).

IMO, banks and credit card servicers are the expensive middle men in these transactions that are expendable. They collect the majority of the fees and in the new digital age, provide little to the transaction. What keeps them going is regulations and customer habits. I think both will change, and Apple Card is a small step to a brave new payment world.

pasadena
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Location: Washington State

Re: Apple Card

Post by pasadena » Wed Mar 27, 2019 12:51 pm

This is obviously not a card meant for churners.

I'm in the market for a new card to complement my Chase Amazon and Amex SPG Bonvoy, with higher flat cash back. I'm conflicted about this.

- The security and privacy features - both for safety (duh) and privacy reasons, but also to support someone finally making a move to modernize how credit cards work. Time for the banking and fintech industries to move to this century.

- The new interface - providing more transparency to users. All the intentionally hidden information and confusing interfaces you see everywhere makes me want to punch people.

- No fees, no international fees are a must for me.

But:

- I do use Apple Pay whenever I can (with Apple Watch mostly), but sometimes I forget, and not everybody is taking it, especially online. So, 1% on physical payments, I already get that.

- "low" interest? LOL it's right on par with the others. I don't care about interest rate on credit cards, but this is insulting our intelligence.

- No information (that I could find) on other benefits like customer protection, guarantees, etc.

- Edited to add: waiting to see if it integrates with services like Personal Capital or YNAB.

Also, I don't give a damn about how pretty the card is. I don't care what the Joneses in the grocery store think. Give me a cheaper-made card with better benefits.

So I'll wait and see when it comes out. Might even try it after a while, since it's free. But at this time, Fidelity's 2% card is still ahead. That said, if it works, then I'm very curious to see where this will take the industry in a few years.
Last edited by pasadena on Wed Mar 27, 2019 3:03 pm, edited 1 time in total.

Jags4186
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Re: Apple Card

Post by Jags4186 » Wed Mar 27, 2019 1:16 pm

This is an inexpensive offering by Apple and Goldman Sachs to tie you into their ecosystem.

It probably cost next to nothing to develop this product. A slick interface and middling at best rewards. But the benefits for Apple and Goldman are huge.

1) How many millions of kids, currently with iPhones, when they turn 18 will sign up for this from their iPhone?
2) How many millions of people, once they have the card, will start asking about using Apple Pay?
3) How many millions of people, once they have and are using the card, will stop to think about switching from Apple to Android since it means also having to get a new credit card with a decidedly crappier interface?

Apple wins big in this. It it trains a young generation to use Apple Pay then when they grow up and realize there are better cards out there, there will still be a want to use Apple Pay.

Goldman Sachs gets to dip their toes into the market without having to offer huge sign up bonuses and has placed an application in every single iPhone owner’s hand. Goldman will certainly offer more cards if this is successful and people will think Goldman Sachs when researching potential new cards.

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sunny_socal
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Re: Apple Card

Post by sunny_socal » Wed Mar 27, 2019 2:00 pm

Eno Deb wrote:
Wed Mar 27, 2019 9:59 am
sunny_socal wrote:
Wed Mar 27, 2019 4:37 am
These days data is a very precious commodity, there's no way Apple is letting all of that fall on the floor or just keeping it locked up in their 'secret' database.
Of course there is: if they feel that the marketing value of being known as a privacy-conscious company is higher than the expected return from monetizing their users' personal information. For me personally, the fact that Android is controlled by Google (the world's largest data collector and advertising company) is one of the main reasons why I prefer iPhones. Apple has a very different business model.
It's not a question of IF you data will be used (or breached) but when.

ust for grins, check yourself here:
https://haveibeenpwned.com/

Still feel secure? Apple and GS are just tech companies with a product to sell. What someone can design & build, someone else can break. :wink:
Not sure why you are conflating data breaches with corporate business models. One has little to do with the other.
Just because the public business model is "we are not going to use your data" doesn't mean they don't have the data. And your data is no more secure than any other company. They don't plan on giving it out but it will get taken eventually.

inbox788
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Re: Apple Card

Post by inbox788 » Wed Mar 27, 2019 2:49 pm

Jags4186 wrote:
Wed Mar 27, 2019 1:16 pm
Goldman Sachs gets to dip their toes into the market without having to offer huge sign up bonuses and has placed an application in every single iPhone owner’s hand. Goldman will certainly offer more cards if this is successful and people will think Goldman Sachs when researching potential new cards.
In the new phone payment and online world, there is no card. Apple interface moved away from skeuomorphism, and this type of concrete linkage to payments may be holding back the generations used to old tech plastic cards. The next generation is going to just click, tap, bump, scan, or flick their wrist and won't be swiping. The Apple Card is a transition device to new methods of payment. And maybe in the new world faceID, you won't need anything at all.

https://techcrunch.com/2018/01/21/insid ... nce-store/

Amazon Go
https://www.amazon.com/b?ie=UTF8&node=16008589011

Starfish
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Re: Apple Card

Post by Starfish » Wed Mar 27, 2019 4:27 pm

Eno Deb wrote:
Tue Mar 26, 2019 3:41 pm
ohai wrote:
Tue Mar 26, 2019 1:16 pm
The titanium and looks thing should not be underestimated. If you have 3 different cards in your wallet, you'll choose the one that looks and feels nice.
Oooh, so nice and shiny. My precious! :D

I'm wondering if there's any real advantage to not having the card number and CVV printed on it. I always have a bad feeling when a waiter in a restaurant disappears behind the curtains with my card ...
That is just a stupid social norm that could be very easily changed.
In other countries you never let anybody else touch your card. And there is the 6 digit PIN.
What's up with scribbling a piece of paper as "security"?

I also tend to believe Apple about the data use, is their differentiation factor from cheaper Android phones. I have friends working for Apple and I know it's a serious company policy.

Eno Deb
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Re: Apple Card

Post by Eno Deb » Wed Mar 27, 2019 5:22 pm

sunny_socal wrote:
Wed Mar 27, 2019 2:00 pm
Just because the public business model is "we are not going to use your data" doesn't mean they don't have the data.
As far as Apple Pay (and thus presumably the new card that is the topic of this thread) is concerned, that's exactly what they mean. The transactions are only stored and processed on your phone, not in their cloud. My experience with Apple Pay confirms this. I can see the Apple Pay transactions with my BofA card in the Wallet app on my phone, but not on my iPad (which has the same card registered in Wallet).

inbox788
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Re: Apple Card

Post by inbox788 » Wed Mar 27, 2019 8:44 pm

Eno Deb wrote:
Wed Mar 27, 2019 5:22 pm
sunny_socal wrote:
Wed Mar 27, 2019 2:00 pm
Just because the public business model is "we are not going to use your data" doesn't mean they don't have the data.
As far as Apple Pay (and thus presumably the new card that is the topic of this thread) is concerned, that's exactly what they mean. The transactions are only stored and processed on your phone, not in their cloud. My experience with Apple Pay confirms this. I can see the Apple Pay transactions with my BofA card in the Wallet app on my phone, but not on my iPad (which has the same card registered in Wallet).
I just answered a call on an extra phone that was logged into some of my Apple services (probably App Store, iTunes, Facetime and/or Messages). I don't recall how it was setup, but the phone number is totally new. I assumed it was a call to the new number, but now I'm not sure, and I'm having trouble figuring out where it came from. As I was searching out solutions, I came across some folks receiving calls from a contact with many numbers and not being able to return the call to the number the call came from. Depending on the OS version, it seems sometimes it wouldn't tell you and just call back the person on your default contact. Other versions told you if it was labeled "mobile" or "home" or "work", but may have been a problem if multiple numbers used the same label. Anyway, in some situations, it's simplest not to know, as long as you can get in contact with who you're trying, and there are probably smart variations. Other times, it's ripe for confusion.

The behavior you describe with Apple Pay and BoA card in Wallet is somewhat unexpected. It does help keep things secure and private, but I can see situations where I'd like to see all my BoA transactions, not just a fraction of them. What if you used your Apple Watch? Or online transactions via Safari on MacBook vs iPad vs iPhone using Apple Pay and same BoA card? Not clear seamless continuity and privacy can both be achieved.

What does that mean for Apple Card using Apple Pay with your phone wallet. Would you see the transactions on your iPad? Would Apple Card be treated any differently than any other card in the wallet? I would expect it's just another card and number, but it's to be determined if it's somehow special in this regard.

BTW, where's Apple Pay as far as automated bill pay? If I can get 2% back using Apple Card, that might be the impetus to sign up for the card. But so far, it's not a compelling offering for me.
https://www.businessinsider.com/apple-p ... pay-2017-4

pasadena
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Re: Apple Card

Post by pasadena » Wed Mar 27, 2019 8:59 pm

inbox788 wrote:
Wed Mar 27, 2019 8:44 pm


The behavior you describe with Apple Pay and BoA card in Wallet is somewhat unexpected. It does help keep things secure and private, but I can see situations where I'd like to see all my BoA transactions, not just a fraction of them. What if you used your Apple Watch? Or online transactions via Safari on MacBook vs iPad vs iPhone using Apple Pay and same BoA card? Not clear seamless continuity and privacy can both be achieved.
Actually, it's by design. I confirm that when I use ApplePay through my Watch, which is my favorite for of payment, I can't see the transactions on my iPhone or iPad.

But the Wallet app as it is today isn't really meant to be used as an expense tracking app. Which takes me to your next question:
What does that mean for Apple Card using Apple Pay with your phone wallet. Would you see the transactions on your iPad? Would Apple Card be treated any differently than any other card in the wallet? I would expect it's just another card and number, but it's to be determined if it's somehow special in this regard.
Very good question, and one they haven't answered yet. However I can't see how their app would be useful if it wasn't sharing info between devices. But I also can't see how they'd do that if not through their own servers - maybe Goldman's.

I also would like to know if it will allow the use of aggregators. And whether or not their app will work with other cards in the wallet.

They have given precious little details about everything they've announced, including the card and its app.

trexdaddy
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Re: Apple Card

Post by trexdaddy » Wed Mar 27, 2019 10:35 pm

This card's design is the best,but in term of benefit...nono.

AMEX Gold+BOA 123 is a better choice

inbox788
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Re: Apple Card

Post by inbox788 » Thu Mar 28, 2019 1:12 pm

trexdaddy wrote:
Wed Mar 27, 2019 10:35 pm
This card's design is the best,but in term of benefit...nono.

AMEX Gold+BOA 123 is a better choice
Which specific cards? This Amex Gold has $250 annual fee! https://www.americanexpress.com/us/cred ... gold-card/
And do you mean this BoA Cash Rewards Credit Card (plus Preferred Rewards clients get a 25% - 75%)? https://www.bankofamerica.com/credit-ca ... edit-card/
Third, Apple will have lower support costs thanks to things like the map view – which should reduce the number of customers querying charges they don’t recognize – and the use of Messages chatbots.

Finally, although Apple will pay customers an additional 1% for purchasing the company’s own products, that’s likely less than the interchange fees it currently pays to other card issuers.
How Apple will make money from the Apple Card – and the ways it will save money
https://9to5mac.com/2019/03/28/make-mon ... pple-card/

There is a lot of inconsistency with Apple Pay and other payment methods. I was trying to use Apple Pay at a store listed as accepting Apple Pay on their website ( https://www.bhphotovideo.com ), and depending on whether you're on a desktop or mobile device, the payment methods differ. On my desktop, I get Amex and Paypal. If I click on the bottom of the page to switch to "The Mobile Website", I get additional Google Pay, but no Apple Pay. However, on Safari on my iPhone, I get all 4, including Apple Pay. It's going to be a while before things shake out and we have a few good choices instead of many limited choices.

Eno Deb
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Re: Apple Card

Post by Eno Deb » Thu Mar 28, 2019 8:29 pm

Techcrunch has some more details on the card:

https://techcrunch.com/2019/03/28/how-apple-card-works/

Xrayman69
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Re: Apple Card

Post by Xrayman69 » Thu Mar 28, 2019 8:34 pm

blueman457 wrote:
Tue Mar 26, 2019 10:50 am
It's a good card, not amazing, but good.

It's NOT AIMED AT BOGLEHEADS OR CHURNERS who want to milk every benefit out of every card or pay off your balance each month.

The differentiating factors
-security and privacy: many people on this board don't seem to care, but I do
-2% cash back is good: there are better cards out there, but 2% is good

I'll sign up when it gets released.

Blue Man

2% average.

Security- priceless!!!! I will add this option

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sunny_socal
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Re: Apple Card

Post by sunny_socal » Thu Mar 28, 2019 8:35 pm

Eno Deb wrote:
Wed Mar 27, 2019 5:22 pm
sunny_socal wrote:
Wed Mar 27, 2019 2:00 pm
Just because the public business model is "we are not going to use your data" doesn't mean they don't have the data.
As far as Apple Pay (and thus presumably the new card that is the topic of this thread) is concerned, that's exactly what they mean. The transactions are only stored and processed on your phone, not in their cloud. My experience with Apple Pay confirms this. I can see the Apple Pay transactions with my BofA card in the Wallet app on my phone, but not on my iPad (which has the same card registered in Wallet).
Well, we'll see. I work in the mobile industry and it's ever so easy to hide information from users. For example, think your caller ID is really blocked? (LOL no it's not) I'm positive the transactions are in their cloud. If Apple keeps the info to themselves, great, but for me it's not a selling point.

Jags4186
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Re: Apple Card

Post by Jags4186 » Thu Mar 28, 2019 8:40 pm

sunny_socal wrote:
Thu Mar 28, 2019 8:35 pm
Eno Deb wrote:
Wed Mar 27, 2019 5:22 pm
sunny_socal wrote:
Wed Mar 27, 2019 2:00 pm
Just because the public business model is "we are not going to use your data" doesn't mean they don't have the data.
As far as Apple Pay (and thus presumably the new card that is the topic of this thread) is concerned, that's exactly what they mean. The transactions are only stored and processed on your phone, not in their cloud. My experience with Apple Pay confirms this. I can see the Apple Pay transactions with my BofA card in the Wallet app on my phone, but not on my iPad (which has the same card registered in Wallet).
Well, we'll see. I work in the mobile industry and it's ever so easy to hide information from users. For example, think your caller ID is really blocked? (LOL no it's not) I'm positive the transactions are in their cloud. If Apple keeps the info to themselves, great, but for me it's not a selling point.
Ok so Apple doesn’t have your data but Goldman Sachs does. What’s the difference?

inbox788
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Re: Apple Card

Post by inbox788 » Fri Mar 29, 2019 3:01 am

Jags4186 wrote:
Thu Mar 28, 2019 8:40 pm
Ok so Apple doesn’t have your data but Goldman Sachs does. What’s the difference?
That's one less branch of data distribution that you have to trim. In my experience, banks have generally been good about not sharing their customer data. In fact, they're the ones buying the data from credit agencies. The credit issuers do report your information to the credit reporting agencies, which may be a form of sharing, and they may benefit from it or it may be a requirement of their relationship. Those credit reporting agencies are some of the worst distributors of your data.

The only way to know if either is a leak would be to sign up your dog to the Apple Card and see if he gets other solicitations. :oops:

https://www.moneypeach.com/opt-out-credit-card-offers/

Or cat:

My Cat Got a Better Credit Card Offer Than Me
Here are four weird stories of credit card mailing offers.
https://abcnews.go.com/Business/cat-cre ... d=19740206

I recognize there needs to be a balance between no information sharing and too much information sharing. Too many companies lean towards the latter, and I'm glad to see an attempt to reign in the poor practices, even if it's just a bit or a first step. On a tangential note, do you find cart reminders helpful, creepy, annoying or intrusive? I found the first time a bit novel, but after the umpteenth time it's become the latter three.

https://www.marketingcharts.com/industr ... erce-37277

FWIW, I've been experiencing strangeness with Apple Messages on different devices, which may be due to shift from device based to cloud based. Conversations on two devices are not syncing up as expected. If Apple keeps trying to maintain privacy above all, these oddities will continue to exist and defy their attempts at continuity across devices. I don't think you can have it all.

Add: Caught up on this article and it explains some things. Apple Cash may be more interesting that it first appears. If they can entice customers to leave money as Apple Cash, it can be used to pay bills, transfer between users, and other expenditures. Would they be allowed to pay interest or give other incentive on Apple Cash? It could become a de facto online bank account similar to Paypal Cash ( https://www.doctorofcredit.com/paypal-a ... raw-money/ ).
The cash back is delivered daily to your Apple Cash balance or to the card monthly as a credit balance if you don’t have or want an Apple Cash account.
...
You can pay your balance via ACH from a bank account or via Apple Cash. Apple Cash is not required to pay your bill, though cash back earned or any other money you have in there can go towards your balance if you desire.
https://techcrunch.com/2019/03/28/how-apple-card-works/

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CardinalRule
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Re: Apple Card

Post by CardinalRule » Mon Aug 12, 2019 1:16 am

Seems like Quicken support won't be available, at least not initially.

Exporting data from Apple Card to a financial app like Mint is not currently supported.

https://support.apple.com/en-us/HT209489
karpems wrote:
Tue Mar 26, 2019 7:13 am
Any thoughts on whether it will integrate with quicken?

arf30
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Re: Apple Card

Post by arf30 » Mon Aug 12, 2019 6:47 am

I've got friends who have a single non-rewards card or debit card through their bank but always have the latest iPhone, guessing this is aimed at them. Everyone else is already using better cards.

Dottie57
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Re: Apple Card

Post by Dottie57 » Mon Aug 12, 2019 11:15 am

bob60014 wrote:
Tue Mar 26, 2019 8:23 am
It's really not about the points, though while nice, it's really about the seemless integration between all Apple devices. Many Appleheads will embrace this. Making transactions "cardless" and easier through wallet pay, tap n go and the like, is the ultimate goal.
It may be appealing to younger folks. I love Apple products but won’t get the new card. I like Fidelity Visa card with 2% back.
Last edited by Dottie57 on Mon Aug 12, 2019 11:23 am, edited 1 time in total.

H-Town
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Re: Apple Card

Post by H-Town » Mon Aug 12, 2019 11:21 am

karpems wrote:
Tue Mar 26, 2019 7:13 am
What is everyone’s initial impressions?

I am pretty underwhelmed. 2% cash back on purchases with Apple Pay, 1% cash back on purchases with your physical card.

Any thoughts on whether it will integrate with quicken?
Since it has 3% cashback on Apple purchase and 2% cashback on Apple Pay and no fee whatsoever, I'll just apply it and save it just in case I need it.

I'll play their game and I'll just win.

furwut
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Re: Apple Card

Post by furwut » Mon Aug 12, 2019 12:06 pm

H-Town wrote:
Mon Aug 12, 2019 11:21 am
karpems wrote:
Tue Mar 26, 2019 7:13 am
What is everyone’s initial impressions?

I am pretty underwhelmed. 2% cash back on purchases with Apple Pay, 1% cash back on purchases with your physical card.

Any thoughts on whether it will integrate with quicken?
Since it has 3% cashback on Apple purchase and 2% cashback on Apple Pay and no fee whatsoever, I'll just apply it and save it just in case I need it.

I'll play their game and I'll just win.
B&H Photo has a store card they are calling PayBoo which rebates the sales tax. If your state charges sales tax it’s probably > 3%. Something to keep in mind.

Glamdring56
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Re: Apple Card

Post by Glamdring56 » Mon Aug 12, 2019 1:00 pm

The Applecard appears to be a normal card with subprime rewards for those with subprime credit; all wrapped up in a pretty white titanium wrapper.

Given that they are giving this card to just about anyone, I think it will end up being a very visible badge for people with weak credit.

RJC
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Re: Apple Card

Post by RJC » Mon Aug 12, 2019 1:25 pm

Any partnership with Goldman Sachs sounds like a bad idea.

Broken Man 1999
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Re: Apple Card

Post by Broken Man 1999 » Mon Aug 12, 2019 1:41 pm

I have no Apple products, but I hope the Apple card is a great success.

I like tech companies bringing more choices into the market. Helps everyone, and that is a good thing whether you are Apple-centric, or Android-centric, or even eccentric. :oops:

Apple has been very busy buying back large amounts of their stock. The company is a cash cow, for now.

When does the card launch?

My daughters went to the dark side long ago, I can't save them. I probably have as many Apple cables/chargers left at our casa as I do Samsung and others.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

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obafgkm
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Re: Apple Card

Post by obafgkm » Mon Aug 12, 2019 9:38 pm

Glamdring56 wrote:
Mon Aug 12, 2019 1:00 pm
Given that they are giving this card to just about anyone, I think it will end up being a very visible badge for people with weak credit.
I don't think that it would be "a very visible badge for people with weak credit."
  1. I don't think anybody here would care that many others with the same card had weak credit.
  2. I don't think most people would even know that many people with weak credit had the Apple Card.
  3. Furthermore, I think the hoi polloi would just be impressed with the looks of the Apple Card.
  4. Finally, I think if the card is used with Apple Pay, nobody else would even know that the Apple Card was being used.

H-Town
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Re: Apple Card

Post by H-Town » Mon Aug 12, 2019 10:10 pm

Glamdring56 wrote:
Mon Aug 12, 2019 1:00 pm
The Applecard appears to be a normal card with subprime rewards for those with subprime credit; all wrapped up in a pretty white titanium wrapper.

Given that they are giving this card to just about anyone, I think it will end up being a very visible badge for people with weak credit.
LOL I truly enjoy other people judging me based on what I wear and use. It’s such a pleasure knowing that they could not be so wrong.

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CyclingDuo
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Re: Apple Card

Post by CyclingDuo » Tue Aug 13, 2019 8:27 am

Broken Man 1999 wrote:
Mon Aug 12, 2019 1:41 pm
When does the card launch?
Broken Man 1999
Started this month, but you'll be out of luck as you have to have an iPhone.
"Everywhere is within walking distance if you have the time." ~ Steven Wright

MichCPA
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Re: Apple Card

Post by MichCPA » Tue Aug 13, 2019 8:46 am

inbox788 wrote:
Thu Mar 28, 2019 1:12 pm
trexdaddy wrote:
Wed Mar 27, 2019 10:35 pm
This card's design is the best,but in term of benefit...nono.

AMEX Gold+BOA 123 is a better choice
Which specific cards? This Amex Gold has $250 annual fee! https://www.americanexpress.com/us/cred ... gold-card/
And do you mean this BoA Cash Rewards Credit Card (plus Preferred Rewards clients get a 25% - 75%)? https://www.bankofamerica.com/credit-ca ... edit-card/

The Amex Gold is a fantastic card!

The $250 AF is offset by $220 in credits for food and airlines so its really $30 if you ever check a bag, order an in-flight meal or get takeout/delivery once a month. Your options for the grocery bonus category without a fee is 3% upto 6k with the amex blue cash. So you only have to spend $3,000 on groceries to break even on the remaining fee even if you get terrible redemption value. I just got 1.4 cpp on a domestic coach flight and, with that value, you would break even at $1,150.

You can't beat the Amex Gold on groceries if you can use those credits. Even the dining rate destroys anything that costs less than $450 AF with pretty pedestrian redemption rates.

Broken Man 1999
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Re: Apple Card

Post by Broken Man 1999 » Tue Aug 13, 2019 8:48 am

CyclingDuo wrote:
Tue Aug 13, 2019 8:27 am
Broken Man 1999 wrote:
Mon Aug 12, 2019 1:41 pm
When does the card launch?
Broken Man 1999
Started this month, but you'll be out of luck as you have to have an iPhone.
True. But I have a little bit of Apple stock, so I'm interested. Not interested enough to actually buy an Apple phone.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

3-20Characters
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Re: Apple Card

Post by 3-20Characters » Tue Aug 13, 2019 8:56 am

blueman457 wrote:
Tue Mar 26, 2019 10:50 am
It's a good card, not amazing, but good.

It's NOT AIMED AT BOGLEHEADS OR CHURNERS who want to milk every benefit out of every card or pay off your balance each month.

The differentiating factors
-security and privacy: many people on this board don't seem to care, but I do
-2% cash back is good: there are better cards out there, but 2% is good

I'll sign up when it gets released.

Blue Man
Got an invite last night. I’ll apply just for the heck of it. From what I gather, I need to unfreeze TransUnion to get it done.

MichCPA
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Re: Apple Card

Post by MichCPA » Tue Aug 13, 2019 8:57 am

H-Town wrote:
Mon Aug 12, 2019 11:21 am
karpems wrote:
Tue Mar 26, 2019 7:13 am
What is everyone’s initial impressions?

I am pretty underwhelmed. 2% cash back on purchases with Apple Pay, 1% cash back on purchases with your physical card.

Any thoughts on whether it will integrate with quicken?
Since it has 3% cashback on Apple purchase and 2% cashback on Apple Pay and no fee whatsoever, I'll just apply it and save it just in case I need it.

I'll play their game and I'll just win.
Based on the credit card setup you had in other threads, I would sit this one out. Your Chase Freedom Unlimited will beat out this card when you move those points to your Sapphire card and x-fer to Hyatt (1.5x time 1.6 cpp = 2.4%) or even better if your Southwest card gets you close to the companion pass. You could beat the 3% on Apple stuff by getting the Amazon card and buying Apple gear at 5%. You would also get a $80 sign up bonus. Your rotation is pretty fantastic as is and, while the Apple card wouldn't hurt, it wouldn't add much.

If the hard pull doesn't matter to you then there isn't any downside. Best of luck either way.
Last edited by MichCPA on Tue Aug 13, 2019 9:00 am, edited 1 time in total.

3-20Characters
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Re: Apple Card

Post by 3-20Characters » Tue Aug 13, 2019 8:59 am

Glamdring56 wrote:
Mon Aug 12, 2019 1:00 pm
The Applecard appears to be a normal card with subprime rewards for those with subprime credit; all wrapped up in a pretty white titanium wrapper.

Given that they are giving this card to just about anyone, I think it will end up being a very visible badge for people with weak credit.
How are people going to know when I’m simply using Apple Pay (which I do now anyway with other CCs). Maybe I’ll get a t-shirt or hat to advertise it. :twisted:

stoptothink
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Re: Apple Card

Post by stoptothink » Tue Aug 13, 2019 9:01 am

bob60014 wrote:
Tue Mar 26, 2019 8:23 am
It's really not about the points, though while nice, it's really about the seemless integration between all Apple devices. Many Appleheads will embrace this. Making transactions "cardless" and easier through wallet pay, tap n go and the like, is the ultimate goal.
I'm anxiously waiting for a few of the board Appleheads to say the Apple Card is life-changing.

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CyclingDuo
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Re: Apple Card

Post by CyclingDuo » Tue Aug 13, 2019 9:07 am

Broken Man 1999 wrote:
Tue Aug 13, 2019 8:48 am
CyclingDuo wrote:
Tue Aug 13, 2019 8:27 am
Broken Man 1999 wrote:
Mon Aug 12, 2019 1:41 pm
When does the card launch?
Broken Man 1999
Started this month, but you'll be out of luck as you have to have an iPhone.
True. But I have a little bit of Apple stock, so I'm interested. Not interested enough to actually buy an Apple phone.

Broken Man 1999
No worries about your chosen platform. It's all good in our book (household of former Android users who all switched to iPhones a few years ago). Having used a cellphone since 1995, it's been fun to see the advances over the past 24 years. I imagine the advances of what the devices will do in the future will continue to surprise and delight. :beer

Investing wise, yes, it is one more service that Apple has added to their platform that will add to the revenue income stream within the services side. We're a lot less sanguine on credit cards in general with the delusions of anyone being able to increase wealth via points, cash back, etc..., but do enjoy the advances that we can leave our wallets/purses at home and transact business with a watch or phone at POS at most of our usual places (gas station, grocery store, etc...).
"Everywhere is within walking distance if you have the time." ~ Steven Wright

3-20Characters
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Re: Apple Card

Post by 3-20Characters » Tue Aug 13, 2019 9:10 am

Well, done. That was the easiest cc application I’ve ever done. 30 seconds to lift transunion freeze and another 30 seconds to get card from iPhone.

KarenC
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Re: Apple Card

Post by KarenC » Tue Aug 13, 2019 9:11 am

According to this BuzzFeed article, there is no provision for paying off the card on the web:
The new Apple Card credit card has an iOS-only app to see transactions and make payments, which means if you lose your Apple device, you won’t be able to pay your bill online.
For me, this is a showstopper.
"How much you know is less important than how clearly you understand where the borders of your ignorance begin." — Jason Zweig

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CyclingDuo
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Re: Apple Card

Post by CyclingDuo » Tue Aug 13, 2019 9:12 am

stoptothink wrote:
Tue Aug 13, 2019 9:01 am
I'm anxiously waiting for a few of the board Appleheads to say the Apple Card is life-changing.
Any credit card can be a life-changing event in terms of leading to a "I need to call Dave Ramsey" sort of way to sort out my debt... :twisted:

:sharebeer
"Everywhere is within walking distance if you have the time." ~ Steven Wright

User avatar
CyclingDuo
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Re: Apple Card

Post by CyclingDuo » Tue Aug 13, 2019 9:15 am

KarenC wrote:
Tue Aug 13, 2019 9:11 am
According to this BuzzFeed article, there is no provision for paying off the card on the web:
The new Apple Card credit card has an iOS-only app to see transactions and make payments, which means if you lose your Apple device, you won’t be able to pay your bill online.
For me, this is a showstopper.
That's why you own an iPhone, an iPad, a Mac, etc.... :mrgreen:
"Everywhere is within walking distance if you have the time." ~ Steven Wright

squirm
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Joined: Sat Mar 19, 2011 11:53 am

Re: Apple Card

Post by squirm » Tue Aug 13, 2019 9:21 am

So what perks come with the card?

Jags4186
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Re: Apple Card

Post by Jags4186 » Tue Aug 13, 2019 9:24 am

squirm wrote:
Tue Aug 13, 2019 9:21 am
So what perks come with the card?
A titanium card and “privacy”.

There are no perks.

stoptothink
Posts: 6089
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Re: Apple Card

Post by stoptothink » Tue Aug 13, 2019 9:25 am

CyclingDuo wrote:
Tue Aug 13, 2019 9:12 am
stoptothink wrote:
Tue Aug 13, 2019 9:01 am
I'm anxiously waiting for a few of the board Appleheads to say the Apple Card is life-changing.
Any credit card can be a life-changing event in terms of leading to a "I need to call Dave Ramsey" sort of way to sort out my debt... :twisted:

:sharebeer
I recall one specific Apple fanboi posting on this board that he'd gladly pay 100x the current cost of an Iphone because it brings that much value to his life when compared to an Android device. One of the more interesting statements I've ever read on the internet.

User avatar
CyclingDuo
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Re: Apple Card

Post by CyclingDuo » Tue Aug 13, 2019 10:08 am

stoptothink wrote:
Tue Aug 13, 2019 9:25 am
CyclingDuo wrote:
Tue Aug 13, 2019 9:12 am
stoptothink wrote:
Tue Aug 13, 2019 9:01 am
I'm anxiously waiting for a few of the board Appleheads to say the Apple Card is life-changing.
Any credit card can be a life-changing event in terms of leading to a "I need to call Dave Ramsey" sort of way to sort out my debt... :twisted:

:sharebeer
I recall one specific Apple fanboi posting on this board that he'd gladly pay 100x the current cost of an Iphone because it brings that much value to his life when compared to an Android device. One of the more interesting statements I've ever read on the internet.
Hmmmm, sounds like an overzealous moment. Is there a link to that discussion?

Ironic that our posts intertwined regarding Ramsey and Apple fanboi as the level of cultism comes to the fore in both cases. 8-)

I always like to keep purchases and costs in perspective. My phone cost $1249 + tax ($1336.43) which, if I keep it as long as I did my previous phone, will end up averaging out to a cost of $1.09 per day barring any repair(s). My service provider is the most expensive part of the equation as I will pay $1.56 per day (at current billing amount) over the course of owning my current phone during that time frame. I currently pay $5.01 per day in gas for my daily commute to work if I drive the speed limit. If I brown bag it, my lunch costs me on average $3 per day, if I eat lunch out at work it costs me on average $8-$15 per day.

That being said, I would not entertain paying $133,643 for the same iPhone device. Nor would I pay $4,400,000 for my pickup truck in spite of how much I like it. And my daily lunch certainly is not worth paying 100x for in spite of how good it tastes. :shock:
"Everywhere is within walking distance if you have the time." ~ Steven Wright

MichCPA
Posts: 721
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Re: Apple Card

Post by MichCPA » Tue Aug 13, 2019 10:19 am

stoptothink wrote:
Tue Aug 13, 2019 9:25 am

I recall one specific Apple fanboi posting on this board that he'd gladly pay 100x the current cost of an Iphone because it brings that much value to his life when compared to an Android device. One of the more interesting statements I've ever read on the internet.
I have had both and prefer Apple phones, but paying 129k for a phone is a bit much...

The Xr at $750 isn't terrible compared to the S10e at the same price.

Where Apple phone truly fail in value is when you get to storage upgrades on Xs and Xs Max. You could buy the icloud upgrades for 4 years for the cost of the internal storage upgrade.

aj44
Posts: 148
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Re: Apple Card

Post by aj44 » Tue Aug 13, 2019 10:22 am

I got mine yesterday, the cyber version anyway, physical copy mailed in 6-8 days.

The actual card will go in my lockbox, I'll use the virtual version on Apple Pay to get the 3% for any Itunes subscriptions, movie buys and Apple store purchases. The card was easy to setup, the interface is nice but I'll have a real limited use for it as my other cards offer better rewards for various categories. Those rewards still appeal to me more than any security benefit.

MichCPA
Posts: 721
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Re: Apple Card

Post by MichCPA » Tue Aug 13, 2019 10:32 am

CyclingDuo wrote:
Tue Aug 13, 2019 10:08 am

I always like to keep purchases and costs in perspective. My phone cost $1249 + tax ($1336.43) which, if I keep it as long as I did my previous phone, will end up averaging out to a cost of $1.09 per day barring any repair(s).
One point to add.

Cost per use is even more relevant when considering cost vs alternatives. For instance, my old android phone lasted maybe 30 months. I would expect my iPhone X to last longer because Apple provides updates for longer periods of time and the battery can be quickly and cheaply serviced at an Apple Store.

If a $750 android phone lasts 30 months and a $1,000 iPhone lasts 40 months its the same cost per month.

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CyclingDuo
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Re: Apple Card

Post by CyclingDuo » Tue Aug 13, 2019 10:33 am

MichCPA wrote:
Tue Aug 13, 2019 10:19 am
stoptothink wrote:
Tue Aug 13, 2019 9:25 am

I recall one specific Apple fanboi posting on this board that he'd gladly pay 100x the current cost of an Iphone because it brings that much value to his life when compared to an Android device. One of the more interesting statements I've ever read on the internet.
I have had both and prefer Apple phones, but paying 129k for a phone is a bit much...

The Xr at $750 isn't terrible compared to the S10e at the same price.

Where Apple phone truly fail in value is when you get to storage upgrades on Xs and Xs Max. You could buy the icloud upgrades for 4 years for the cost of the internal storage upgrade.
Pretty similar cost, or at least enough to call it a wash for me. $149 bump up from 64GB to 256GB on the Xs Max (one can back up for free to iTunes on their computer if there is enough HD space available) if one wants to keep everything stored on their phone and not worry about losing data if they have an iTunes back up that they sync every week/month on their computer. That's opposed to paying $2.99 per month to pay for 200GB storage space on iCloud for 4 years (average lifespan of a phone) is $144.
"Everywhere is within walking distance if you have the time." ~ Steven Wright

H-Town
Posts: 1964
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Re: Apple Card

Post by H-Town » Tue Aug 13, 2019 10:58 am

MichCPA wrote:
Tue Aug 13, 2019 8:57 am
H-Town wrote:
Mon Aug 12, 2019 11:21 am
karpems wrote:
Tue Mar 26, 2019 7:13 am
What is everyone’s initial impressions?

I am pretty underwhelmed. 2% cash back on purchases with Apple Pay, 1% cash back on purchases with your physical card.

Any thoughts on whether it will integrate with quicken?
Since it has 3% cashback on Apple purchase and 2% cashback on Apple Pay and no fee whatsoever, I'll just apply it and save it just in case I need it.

I'll play their game and I'll just win.
Based on the credit card setup you had in other threads, I would sit this one out. Your Chase Freedom Unlimited will beat out this card when you move those points to your Sapphire card and x-fer to Hyatt (1.5x time 1.6 cpp = 2.4%) or even better if your Southwest card gets you close to the companion pass. You could beat the 3% on Apple stuff by getting the Amazon card and buying Apple gear at 5%. You would also get a $80 sign up bonus. Your rotation is pretty fantastic as is and, while the Apple card wouldn't hurt, it wouldn't add much.

If the hard pull doesn't matter to you then there isn't any downside. Best of luck either way.
Good point. I'm currently 4/24 - one card away from sitting it out for another 6 months.

With Southwest, I don't think I can apply for Southwest business card. I'm 50k away from Companion Pass and it's already mid-August. So I'm standing pat at this point.

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