Apple announces Apple Card credit card • Hacker News Board

Re: Apple announces Apple Card credit card

#71

Post by r00fus » Mon, Mar 25, 2019, 5:56 PM UTC

4ad wrote: post #17

jki275 wrote: post #5

Earlier quoted context omitted.

There's a physical card you can use as well.

~~But not online. Online is ApplePay only.~~ Edit: Apparently not.

This is why it's an 80% solution. Most of my online purchases are at specific places (Amazon, other sites using Paypal, directly through airlines, etc).

However, if Apple can isolate most Apple purchases to using their own card, things get interesting. 3% off Apple purchases is pretty decent. Kind of like Amazon wants all it's data for purchases through it's own card.

Re: Apple announces Apple Card credit card

#72

Post by jumbopapa » Mon, Mar 25, 2019, 5:57 PM UTC

freyir wrote: post #39

bxio wrote: post #26

Innovative privacy features in exchange for sub-par rewards. RIP us North of the border, though.

2% cash back on all purchases through the phone with no annual fees? I’d wager this is much better than what the majority of Americans currently have.

There's multiple 2% cards with no fees.. Citi Double Cash, Fidelity Visa, PenFed Power Cash

Not to mention cards like the Chase Freedom Unlimited where 1.5% is closer to 3% when redeemed through their travel portal.

Re: Apple announces Apple Card credit card

#73

Post by dwighttk » Mon, Mar 25, 2019, 5:58 PM UTC

siculars wrote: post #34

ckastner wrote: post #4

> get a digital card that they can use anywhere Apple Pay Apply Pay users: how broad is Apply Pay adoption? Is this a viable replacement for a VISA, Mastercard or AMEX? I'm intrigued by the privacy angle to this, seeing as VISA and Mastercard apparently share and/or sell a lot of transaction data with/to third parties. Edit: The article has been updated: As rumored, Apple is partnering with Goldman Sachs for Apple Ca…

I use Apple pay wherever possible. It is far quicker and more convenient than either cash, chip card or swipe in that order. Besides convenience, security and privacy are the backstop for my usage. I just trust Apple more to not be sleezy with my transaction history.

I'm not as much of a fan of it with faceID as I was with touchID. Double tapping the lock button is awkward.

Re: Apple announces Apple Card credit card

#74

Post by V99 » Mon, Mar 25, 2019, 5:58 PM UTC

ocdtrekkie wrote: post #67

Most interesting claim is that there are no late fees. If you don't pay it on time, I presume they're going to stop letting you continue making charges to the card until you do? But that it never gets you locked into the debt cycle of so many other cards? If true, this is the true real innovation. Or is there interest, but just no fee for not making your payment on time?

They showed interest calculation while deciding how much to pay, so there's definitely interest. But not penalty rates or late fees.

Re: Apple announces Apple Card credit card

#75

Post by mises » Mon, Mar 25, 2019, 5:58 PM UTC

ckastner wrote: post #4

> get a digital card that they can use anywhere Apple Pay Apply Pay users: how broad is Apply Pay adoption? Is this a viable replacement for a VISA, Mastercard or AMEX? I'm intrigued by the privacy angle to this, seeing as VISA and Mastercard apparently share and/or sell a lot of transaction data with/to third parties. Edit: The article has been updated: As rumored, Apple is partnering with Goldman Sachs for Apple Ca…

I don't use it, but I just read (can't remember where) that adoption in America is about 70% of stores and 99% in Australia. This corresponds to another comment's assessment that it was available in about 2/3 of stores.

Re: Apple announces Apple Card credit card

#76

Post by coldtea » Mon, Mar 25, 2019, 5:58 PM UTC

sk5t wrote: post #49

nabaraz wrote: post #25

With the rise of smartphone payments like Samsung Pay, Android Pay and Apple Pay , is there even a need for credit cards? How long until these companies start skipping payment processors like Visa and Mastercard and take the whole pie?

YMMV but I absolutely will not bite on non-creditcard-facilitated payments until/unless the same or better consumer protections are in place.

Who said they are not?

Re: Apple announces Apple Card credit card

#77

Post by theshrike79 » Mon, Mar 25, 2019, 5:58 PM UTC

spectramax wrote: post #66

siculars wrote: post #34

Earlier quoted context omitted.

I use Apple pay wherever possible. It is far quicker and more convenient than either cash, chip card or swipe in that order. Besides convenience, security and privacy are the backstop for my usage. I just trust Apple more to not be sleezy with my transaction history.

With the new Apple Card, somewhere in the presentation Apple had "Goldman Sachs will never sell your data to third parties" but what about the MasterCard backend? Surely, they'll see exact transactions and store information?

They explained this in the keynote. They are generating a per-transaction card number, so there is no reasonable way for Mastercard to track what a certain person is buying.

Re: Apple announces Apple Card credit card

#78

Post by lskopwol » Mon, Mar 25, 2019, 5:58 PM UTC

ocdtrekkie wrote: post #67

Most interesting claim is that there are no late fees. If you don't pay it on time, I presume they're going to stop letting you continue making charges to the card until you do? But that it never gets you locked into the debt cycle of so many other cards? If true, this is the true real innovation. Or is there interest, but just no fee for not making your payment on time?

Your iMessages stop working and your iPhone shuts off randomly a few times a day

Re: Apple announces Apple Card credit card

#79

Post by theshrike79 » Mon, Mar 25, 2019, 5:59 PM UTC

ignoramous wrote: post #69

siculars wrote: post #34

Earlier quoted context omitted.

I use Apple pay wherever possible. It is far quicker and more convenient than either cash, chip card or swipe in that order. Besides convenience, security and privacy are the backstop for my usage. I just trust Apple more to not be sleezy with my transaction history.

Re: Privacy: Cash is the most privacy friendly payment method. Followed by virtual credit cards, which aren't really that private but an improvement over the usual. Here with Apple Card, even if Apple might not choose to centralise your payment data, the underlying network (MasterCard, in this case) most certainly can know where you spent it, and vendors at point of sale can keep track of it too.

They know that SOMEONE spent money at a location, they won't know who it was.

Re: Apple announces Apple Card credit card

#80

Post by joefife » Mon, Mar 25, 2019, 5:59 PM UTC

ocdtrekkie wrote: post #67

Most interesting claim is that there are no late fees. If you don't pay it on time, I presume they're going to stop letting you continue making charges to the card until you do? But that it never gets you locked into the debt cycle of so many other cards? If true, this is the true real innovation. Or is there interest, but just no fee for not making your payment on time?

How is that an innovation? You're describing Charge Cards