I wish they had a debit card. I would love a debit card with all these features.
The apple cash card is basically a prepaid Discover debit card.
Apple announces Apple Card credit card
121–130 of 778 posts
Re: Apple announces Apple Card credit card
#122Most 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?
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Re: Apple announces Apple Card credit card
#123It sounds like Apple's doing a lot of things very right with Card. I am curious when it's going to be available here in Germany.
I’ve found in the past Germans aren’t always keen on credit cards - they often push back when you try to use them in shops and restaurants and things like ticket machines at railways only seem to take regional debit cards. Trying to use an American Express gets a very bad reaction. Is that changing?
It’s probably changing, I think, but American Express is also one of the worst credit cards you could try to use in Germany. Mastercard and Visa are much more widely accepted.
Re: Apple announces Apple Card credit card
#124Not sure what to think of this. Somehow I would prefer if Apple kept building technology platforms that then enable other parties to develop solutions but instead they seem to be moving into a totally integrated platform. The business success is there but from a technology point of view I find Apple has been pretty unexciting over the last years. They have turned into a well run big tech company like Microsoft under…
I think all their announcements are going to be good for developers / their ecosystem. So it's probably positive they are getting some love, and hopefully some increased revenue too
Re: Apple announces Apple Card credit card
#125Just 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.
They create a virtual card for each and every purchase automatically.
No need to do that manually.
Re: Apple announces Apple Card credit card
#126The 2% cashback is especially interesting (in the US, for purchases done with ApplePay). I guess they can get away with a different risk model when they control more of the payment process & security.
That's not really interesting at all. See Citi Double Cash, Fidelity Visa, PenFed Powercash...
all of those have pretty big caveats. Citi seems the closest to straight 2% assuming you pay off your balance all the time, I didn't notice any limits on how you get your 2%. But they do have late payment fees.
PenFed you have to be active duty military to qualify for 2%... Fidelity you have to put your 2% (not going to call it "cash") into a Fidelity product, no balance credits.
Re: Apple announces Apple Card credit card
#127Earlier quoted context omitted.
I'm sure it does. They need to verify that you're qualified for credit. I don't believe Apple itself would be the party pulling your credit history though. They've partnered with Goldman Sachs as the issuing bank, so it would probably be Goldman that runs your credit.
How does this work outside of the USA? The credit system here is only for individuals resident in this country, correct?
It doesn't work at all outside the USA. I think it may be a long time before they go abroad.
Re: Apple announces Apple Card credit card
#128Earlier quoted context omitted.
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?
That is exactly what the parent was saying. They would not consider a financial product that bypasses the major payment processors (Visa/MC) unless it has similar customer protections built in.
Re: Apple announces Apple Card credit card
#129Does Apple Pay and Google Pay work anywhere I see the tap symbol (looks like a rotated wifi symbol)? Or they must also display the Apple or Google Pay symbol? I've seen places that just have the tap symbol and wondered if I could've used my phone.
Yes Apple pay and Google pay do work with all contactless payment terminals, however your card may not. If the business does not accept Amex for example, using Apple Pay or Google Pay will not work unless you pick a different card.
Re: Apple announces Apple Card credit card
#130Earlier 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?
Not allowing you to carry a balance makes the card less flexible, since it takes away the ability to use the card to finance items you can't afford to pay in full right now.
At least in the US, charge cards also (historically) charged higher fees to retailers, so a lot of stores wouldn't accept them.