Apple Card

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MichCPA
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Re: Apple Card

Post by MichCPA » Tue Aug 13, 2019 12:39 pm

H-Town wrote:
Tue Aug 13, 2019 10:58 am

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.
With where you are at, you probably only have the Marriott and Hyatt cards left on the Chase side. If the SW pass is something you want to pursue in the future, I don't know if the United card does much for you.

If you can use those free hotel nights, I would get those Chase cards over the next 6 months and then move on to getting some easy sign up bonuses from other issuers.

squirm
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Re: Apple Card

Post by squirm » Tue Aug 13, 2019 5:36 pm

$250 Moto G series phone probably would more than suffice 90% of phone users.

bh7785
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Re: Apple Card

Post by bh7785 » Wed Aug 14, 2019 3:04 pm

I tried to sign up for the card today, since it is free and I figured I would give it (and Apple Pay) a try.

When I go into the Wallet app on my (updated) iPhone, I am not able to see anything at all about Apple Card. I can only add existing cards of my own.

aj44
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Re: Apple Card

Post by aj44 » Wed Aug 14, 2019 3:26 pm

bh7785 wrote:
Wed Aug 14, 2019 3:04 pm
I tried to sign up for the card today, since it is free and I figured I would give it (and Apple Pay) a try.

When I go into the Wallet app on my (updated) iPhone, I am not able to see anything at all about Apple Card. I can only add existing cards of my own.
It isn't officially rolled out to everyone until later this month. I only was able to sign up for it Monday because I had put my email address into their "Find our more information" inquiry on their webpage a few months ago when it was announced.

mnsportsgeek
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Re: Apple Card

Post by mnsportsgeek » Wed Aug 14, 2019 9:32 pm

I’ve had mine for a few days now. It’s a credit card. Nothing ground breaking. It makes a cool sound when I drop it. I’ll be using it for international purchases and Apple purchases for 3% back and Apple Pay for 2%. I’ll continue to use my Amex for everyday use.

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abuss368
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Re: Apple Card

Post by abuss368 » Wed Aug 14, 2019 9:34 pm

Not interested. We have a simple credit card with cash back from the bank.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success." || Buy Total Stock until it hurts. Then find a way to buy even more!

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abuss368
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Re: Apple Card

Post by abuss368 » Wed Aug 14, 2019 9:34 pm

Wonder if Apple is out of new innovative ideas that they are partnering with Goldman Sachs to launch a credit card!
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success." || Buy Total Stock until it hurts. Then find a way to buy even more!

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abuss368
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Re: Apple Card

Post by abuss368 » Wed Aug 14, 2019 9:37 pm

I read that Apple is also planning possibly eyeglasses and a glove to hold the iPhone! Not to mention a car!
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success." || Buy Total Stock until it hurts. Then find a way to buy even more!

Dvorak212
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Re: Apple Card

Post by Dvorak212 » Wed Aug 14, 2019 9:57 pm

MichCPA wrote:
Tue Aug 13, 2019 8:46 am
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.
I like to use a single card for all purchases and had been using my Amex Gold until this month. Some number crunching showed I was averaging around 1.7 points per dollar. I looked at what their actual value was and only way I could get the full 1.7 was booking flights on Amex Travel. For now using a 2% cash back card instead. Rather get the cash now than stock pile for some future trip.

3-20Characters
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Re: Apple Card

Post by 3-20Characters » Thu Aug 15, 2019 2:58 am

mnsportsgeek wrote:
Wed Aug 14, 2019 9:32 pm
I’ve had mine for a few days now. It’s a credit card. Nothing ground breaking. It makes a cool sound when I drop it. I’ll be using it for international purchases and Apple purchases for 3% back and Apple Pay for 2%. I’ll continue to use my Amex for everyday use.
I really like the wallet app integration and instant 2% cash back. I use Apple Pay almost exclusively for every day purchases so it’s become my default card in that respect.

MichCPA
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Re: Apple Card

Post by MichCPA » Thu Aug 15, 2019 7:36 am

Dvorak212 wrote:
Wed Aug 14, 2019 9:57 pm

I like to use a single card for all purchases and had been using my Amex Gold until this month. Some number crunching showed I was averaging around 1.7 points per dollar. I looked at what their actual value was and only way I could get the full 1.7 was booking flights on Amex Travel. For now using a 2% cash back card instead. Rather get the cash now than stock pile for some future trip.
I'm not totally sure what you are saying. Whether your weighted average points is 1.7 or if you are getting 1.7 cents per point. I would think the former because 1.7 cpp on Amex travel would be (welcome) news to me.

Flights on Amex travel are 1 cent per point every time I have looked, but that is not an ideal way to redeem. I just got 1.4 cpp on Delta for a domestic flight (so 5.6% on most food, 4.2% on airfare, and 1.4% on everything else). Generally speaking you should only use points for: airfare, Hilton if there is a transfer bonus (30% for me right now), or for gift card sales (there are a couple at 1.25 cpp right now).

If you aren't transferring points, I would agree the card isn't for you.

mnsportsgeek
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Re: Apple Card

Post by mnsportsgeek » Thu Aug 15, 2019 8:19 am

3-20Characters wrote:
Thu Aug 15, 2019 2:58 am
mnsportsgeek wrote:
Wed Aug 14, 2019 9:32 pm
I’ve had mine for a few days now. It’s a credit card. Nothing ground breaking. It makes a cool sound when I drop it. I’ll be using it for international purchases and Apple purchases for 3% back and Apple Pay for 2%. I’ll continue to use my Amex for everyday use.
I really like the wallet app integration and instant 2% cash back. I use Apple Pay almost exclusively for every day purchases so it’s become my default card in that respect.
Agreed the daily cash back is pretty slick. I'm planning to get an apple watch this fall and I think i'll use apple pay more frequently when it's on my wrist versus needing to take my phone out to pay which takes the same amount of time as taking out my credit card.

investor997
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Re: Apple Card

Post by investor997 » Thu Aug 15, 2019 10:15 am

mnsportsgeek wrote:
Thu Aug 15, 2019 8:19 am
Agreed the daily cash back is pretty slick. I'm planning to get an apple watch this fall and I think i'll use apple pay more frequently when it's on my wrist versus needing to take my phone out to pay which takes the same amount of time as taking out my credit card.
I guess I'm still struggling to understand... How would this be any better than say adding a BofA Premium Rewards card (which earns 2.62% on everything if you're in the highest Preferred Rewards tier) to an Apple Wallet?

Jags4186
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Re: Apple Card

Post by Jags4186 » Thu Aug 15, 2019 10:30 am

investor997 wrote:
Thu Aug 15, 2019 10:15 am
mnsportsgeek wrote:
Thu Aug 15, 2019 8:19 am
Agreed the daily cash back is pretty slick. I'm planning to get an apple watch this fall and I think i'll use apple pay more frequently when it's on my wrist versus needing to take my phone out to pay which takes the same amount of time as taking out my credit card.
I guess I'm still struggling to understand... How would this be any better than say adding a BofA Premium Rewards card (which earns 2.62% on everything if you're in the highest Preferred Rewards tier) to an Apple Wallet?
Not everybody has BOA Premium Rewards with Platinum Honors status. Not everyone has or wants to have $100,000 at Bank of America.

There’s nothing to struggle to understand. Why would anyone have the Citi Doublecash over the PayPal MasterCard over the Fidelity Visa? All pay 2%. It’s just another me too product out in the market by another bank.

The win for Apple is that because they convinced Goldman Sachs to accept subprime borrowers which include the many young people who the Apple Card is either their first credit card, or materially better than whatever student credit card they received from the bank when they turned 18. This locks people into the Apple ecosystem. The win for the target consumer demographic is that they have a slick interface which seamlessly integrates into their digital life. The subprime consumer of the card also will avoid paying many of the fees (not interest) that they were accustomed to seeing on their bills from their old bank card. Additionally Apple’s marketed privacy efforts are appealing with their target consumer.

It’s ironic that the same generation that shares every moment of their life on Facebook, Snapchat, Instagram, etc. is also the same generation worried about privacy of their data.

Not everyone is a maximizer. Some people are simply happy to have one “good enough” product and use it forever.

3-20Characters
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Re: Apple Card

Post by 3-20Characters » Thu Aug 15, 2019 12:07 pm

Jags4186 wrote:
Thu Aug 15, 2019 10:30 am
investor997 wrote:
Thu Aug 15, 2019 10:15 am
mnsportsgeek wrote:
Thu Aug 15, 2019 8:19 am
Agreed the daily cash back is pretty slick. I'm planning to get an apple watch this fall and I think i'll use apple pay more frequently when it's on my wrist versus needing to take my phone out to pay which takes the same amount of time as taking out my credit card.
I guess I'm still struggling to understand... How would this be any better than say adding a BofA Premium Rewards card (which earns 2.62% on everything if you're in the highest Preferred Rewards tier) to an Apple Wallet?
Not everybody has BOA Premium Rewards with Platinum Honors status. Not everyone has or wants to have $100,000 at Bank of America.

There’s nothing to struggle to understand. Why would anyone have the Citi Doublecash over the PayPal MasterCard over the Fidelity Visa? All pay 2%. It’s just another me too product out in the market by another bank.

The win for Apple is that because they convinced Goldman Sachs to accept subprime borrowers which include the many young people who the Apple Card is either their first credit card, or materially better than whatever student credit card they received from the bank when they turned 18. This locks people into the Apple ecosystem. The win for the target consumer demographic is that they have a slick interface which seamlessly integrates into their digital life. The subprime consumer of the card also will avoid paying many of the fees (not interest) that they were accustomed to seeing on their bills from their old bank card. Additionally Apple’s marketed privacy efforts are appealing with their target consumer.

It’s ironic that the same generation that shares every moment of their life on Facebook, Snapchat, Instagram, etc. is also the same generation worried about privacy of their data.

Not everyone is a maximizer. Some people are simply happy to have one “good enough” product and use it forever.
👍

framus
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Re: Apple Card

Post by framus » Fri Aug 16, 2019 3:04 pm

Signed up for Apple Card as the security features seem good.

First impressions:

Sign up - slick, speedy process - no hassle
Daily cash back is good and info on IOS device is good.
Apple support - They are still learning - frontline support didn't know what Credit Agency/Agencies would need to have credit freeze un-frozen. Now they seem to know that Goldman is checking Transunion.

Currently Apple doesn't support/allow a joint account so my wife and I would need separate accounts and no clear way to generate a combined usage report.Discussions with Apple support don't lead me to think this is something that is currently being actively considered. No web interface. All info is 'stuck' in an individual's IOS device/s under their Apple ID.

Overall, some good, though not compelling, features. Not fully competitive as currently implemented.

head gamez
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Re: Apple Card

Post by head gamez » Tue Nov 05, 2019 10:27 pm

I went through the process of thawing credit to apply today. Approved immediately. Tried to use the new card via my watch tonight and got the check mark, but the POS asked for payment again. Tried once more, and same thing. Since there was a line forming, I opted to use another card on Apple Pay (via the watch) and it worked. Anyone experience this? The physical card will arrive in a few days, but I suspect that since it is "an accessory" that activating it is not required for the Apple Card to work via the phone or watch.

cu_
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Re: Apple Card

Post by cu_ » Wed Nov 06, 2019 8:53 am

oldcomputerguy wrote:
Tue Mar 26, 2019 9:12 am
Meh. 2% on everything already with Fido card. I already have a backup Capital One 1.5%-on-everything card, don't need Yet Another Credit Card.
Exactly same... also consider myself an old computer guy :-)

3-20Characters
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Re: Apple Card

Post by 3-20Characters » Wed Nov 06, 2019 9:40 am

head gamez wrote:
Tue Nov 05, 2019 10:27 pm
I went through the process of thawing credit to apply today. Approved immediately. Tried to use the new card via my watch tonight and got the check mark, but the POS asked for payment again. Tried once more, and same thing. Since there was a line forming, I opted to use another card on Apple Pay (via the watch) and it worked. Anyone experience this? The physical card will arrive in a few days, but I suspect that since it is "an accessory" that activating it is not required for the Apple Card to work via the phone or watch.
Don’t have an Apple Watch so I can’t comment on the hiccup but the physical card shouldn’t make any difference. There’s nothing to activate as with a conventional cc.

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abuss368
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Re: Apple Card

Post by abuss368 » Wed Nov 06, 2019 9:00 pm

I read an article today from Goldman how they are so pleased with the launch. I am not sure what the additional value is form our bank cash back credit card.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success." || Buy Total Stock until it hurts. Then find a way to buy even more!

nydoc
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Re: Apple Card

Post by nydoc » Thu Feb 13, 2020 8:19 pm

I got apple card yesterday. For 2% cashback I will use this in stead of my citi card. There was an error with delivery zipcode. They fixed it over text message instantaneously. Compare that to staying on hold with citi customer care. BTW how much can I make by melting that titanium card?

VictorStarr
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Re: Apple Card

Post by VictorStarr » Thu Feb 13, 2020 10:31 pm

I got my card "by mistake" to buy Apple watch back in December (promotional 6% cash back).
In a month, the card became my default card for Apple Pay. I did not requested a physical card (1% cash back).
Here are my favorite features:

- security: Apple Pay is substantially more secure than other forms of payments
- security: I can change the card number/code on a spot using my iPhone
- convinience: paying with iPhone or Apple watch is faster and more convinient than using a regular plastic card
- convenience: Apple card app is integrated into Apple Wallet app, no need to login to another website or app
- reporting: nice reports with charts by category or merchants and weekly or monthly.
- reporting: each purchase contains location on map, percentage of cash back and category.
- common sense: closing and due day is the last day of the month (grace period is one month)
- payment: pay from the Wallet or set up automatic payment. The app reminds you about pending payment.
- fees: no late, over the limit fees
- 2% cashback is deposited to the Apple Cash card on the day of transaction or the next day.
- travel: good for travel in Europe due to support of contactless payment and 0% foreign transaction fee
- low interest rate of 12.5%, I pay my bills in full but it feels better to have a low rate.

I think that Apple Card is a solid card for iPhone users and a great single card for teenagers/young adults with iPhone.
My college-age daughter liked what she saw and got her Apple card and she likes it so far.

VictorStarr
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Re: Apple Card

Post by VictorStarr » Thu Feb 13, 2020 10:37 pm

One more feature - simple application process. You do application in the Apple Wallet and in a few seconds it would be processed and you would see your limit and interest rate. Only if you accept the offer, Goldman Sachs would do the hard pull.

VikingThor
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Re: Apple Card

Post by VikingThor » Thu Feb 13, 2020 10:46 pm

Poor value card, capitalizing on Apple brand.

There are many cards with better rewards or more cash back.

I like Apple products and use the wallet and Apple Pay, but any card can be used for this.

VictorStarr
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Re: Apple Card

Post by VictorStarr » Fri Feb 14, 2020 12:28 am

VikingThor wrote:
Thu Feb 13, 2020 10:46 pm
There are many cards with better rewards or more cash back.
I agree, it is not the card for people that optimize for the last 0.625% and use Mint to aggregate information for multiple cards.
The card is better suited for people that value simplicity, convinience and integration with iPhone ecosystem.

VikingThor
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Re: Apple Card

Post by VikingThor » Fri Feb 14, 2020 11:04 am

It not just about optimizing to the penny, more like you can get almost double the rewards of this card with no additional effort, just Google recommendation for best cash or reward card and pick one.

I don't see the added simplicity, at least all the examples I've seen cited have nothing to do with the card itself or are standard on most credit cards.

I.e any card can be used in the wallet and with Apple Pay. So that's a benefit of having an iphone rather than a benefit of the Apple Card.

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