US only?
That’s all they’ve announced for now.
Apple announces Apple Card credit card
101–110 of 778 posts
Re: Apple announces Apple Card credit card
#102I use to snob apple's announcements but really wish this one succeeds. Banks need to feel the pressure hard.
Re: Apple announces Apple Card credit card
#103Earlier quoted context omitted.
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.
Thanks for the insight. So, now the question is whether GoldmanSachs can be trusted. Honestly, Apple is the only large company in existence that I can fully trust with my privacy. Given that this whole thing has been orchestrated by Apple, it wouldn't be too surprising for Apple to put preventative measures around GoldmanSachs based on their sleezy history.
Re: Apple announces Apple Card credit card
#104Just allow me to create as many 'virtual' credit cards from a single card and that's enough. Every single provider that promised that feature has either underwhelmed, or gone out of business.
Re: Apple announces Apple Card credit card
#105Earlier quoted context omitted.
How is that an innovation? You're describing Charge Cards
I've... actually never heard of these. Why isn't this more popular?
Once debit cards came out charge cards lost a lot of their appeal. Charge cards also tend to have a higher yearly fee (an Amex Platinum is $550 a year) because they aren't making money off of interest (although it should be noted they are making money off of the merchants who accept them).
Re: Apple announces Apple Card credit card
#106Earlier 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.
> I just trust Apple more to not be sleezy with my transaction history. For now. They are all still collecting and storing all the data. The only solution is lack of data collection to begin with.
How are you supposed to see if there have been fraudulent charges if no one is collecting a list of previous charges?
Re: Apple announces Apple Card credit card
#107I hope this is expanded beyond the US. I would get in a heartbeat; if Apple can expand this offering to Europe and other parts of the world with very little use of credit cards they will be able to create new business at a massive scale.
Re: Apple announces Apple Card credit card
#108Earlier quoted context omitted.
How is that an innovation? You're describing Charge Cards
I've... actually never heard of these. Why isn't this more popular?
Marketing? I suspect that charge cards are more likely to charge an annual fee, since there's not interest income from carrying a balance.
Re: Apple announces Apple Card credit card
#109With 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?
I don't live in a tech hub city but in all my shopping I have never seen anyone use one of the Apple/Samsung payment methods where I live. Even when I spent months in Silicon Valley I can count the number of times I saw it used on one hand.
I use it at the grocery store every time. Other places with newer terminals have ~50% acceptance.
Supposed to have increased privacy, why I try it first.
Re: Apple announces Apple Card credit card
#110With 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.
Wait. What? I use credit cards for the consumer protections they provide. A store claims to have some type of return policy -- if I buy with credit, and they don't follow that policy -- I get my money back no matter what. With cash, that's not guaranteed.
What do you mean?