Apple announces Apple Card credit card • Hacker News Board

Re: Apple announces Apple Card credit card

#151

Post by oarsinsync » Mon, Mar 25, 2019, 6:12 PM UTC

caprese wrote: post #120

AznHisoka wrote: post #104

Just 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.

> Just allow me to create as many 'virtual' credit cards from a single card and that's enough. What? Apple Pay does this. Oh they don't expose the numbers to you, but they use a virtual card at time of purchase.

Kinda want the ability to cancel a virtual card at will too, which isn't possible via Apple Pay.

Re: Apple announces Apple Card credit card

#152

Post by bunderbunder » Mon, Mar 25, 2019, 6:13 PM UTC

caprese wrote: post #120

AznHisoka wrote: post #104

Just 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.

> Just allow me to create as many 'virtual' credit cards from a single card and that's enough. What? Apple Pay does this. Oh they don't expose the numbers to you, but they use a virtual card at time of purchase.

I believe Google Wallet does the same.

The virtual card is also set up in such a way that it can only be used to make purchases through Apple Pay. Which makes it, unlike regular (American) credit cards, a 2-factor authentication system: Something you have (phone) and something you are (fingerprint or face).

That's a big part of why I use Apple Pay when it's available; it gives me a fair bit more protection against credit card fraud.

Re: Apple announces Apple Card credit card

#153

Post by saagarjha » Mon, Mar 25, 2019, 6:13 PM UTC

bit_logic wrote: post #93

Does 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: https://www.apple.com/apple-pay/where-to-use/

Re: Apple announces Apple Card credit card

#154

Post by vinay427 » Mon, Mar 25, 2019, 6:13 PM UTC

LikeAnElephant wrote: post #139

gesman wrote: post #116

Where’s my perks? Lounge access? Hotel discounts? No reason for me to switch from my AMEX or Costco card for puny Apple points. Unless I missed something.

IMO those kinds of things come out as less financial benefit than just getting cash back. The exception is for people who travel quite a bit. For me personally, getting ~2% cash back on every purchase would be better than a moderate discount when I actually need to stay at a hotel. Just depends on your situation.

You're assuming those people use that card. In my experience, very few use an AmEx Platinum, etc. for most of their everyday purchases, because that wouldn't make sense. You can easily get more than 2% on every purchase (with 4-5% on a majority for some people) if you can make use of travel rewards.

Re: Apple announces Apple Card credit card

#155

Post by xeromal » Mon, Mar 25, 2019, 6:13 PM UTC

AznHisoka wrote: post #104

Just 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.

I used that feature so many times with Paypal and Final and both closed that product after a year or two. I'm not sure what kills it, but it's a difficult space I guess. Maybe too much fraud to handle?

Re: Apple announces Apple Card credit card

#156

Post by alam25 » Mon, Mar 25, 2019, 6:13 PM UTC

caprese wrote: post #120

AznHisoka wrote: post #104

Just 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.

> Just allow me to create as many 'virtual' credit cards from a single card and that's enough. What? Apple Pay does this. Oh they don't expose the numbers to you, but they use a virtual card at time of purchase.

Google Pay as well: https://usa.visa.com/pay-with-visa/featured-technologies/goo...

> When you use your phone to pay in stores with an eligible Visa card in Google Pay, we don’t send your actual credit or debit card number with your payment. Instead, a virtual account number is used to represent your account information – so your account details stay safe.

Re: Apple announces Apple Card credit card

#157

Post by jki275 » Mon, Mar 25, 2019, 6:14 PM UTC

oarsinsync wrote: post #151

caprese wrote: post #120

Earlier quoted context omitted.

> Just allow me to create as many 'virtual' credit cards from a single card and that's enough. What? Apple Pay does this. Oh they don't expose the numbers to you, but they use a virtual card at time of purchase.

Kinda want the ability to cancel a virtual card at will too, which isn't possible via Apple Pay.

The concept of virtual cards is that they're essentially single use -- they cancel themselves.

Re: Apple announces Apple Card credit card

#158

Post by kevingrahl » Mon, Mar 25, 2019, 6:14 PM UTC

chrisseaton wrote: post #85

cygned wrote: post #13

It 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?

German here; MasterCard and Visa are accepted almost everywhere even the smallest shop usually offers contactless payments (tap). Amex on the other hand is a rarity and you should expect that it doesn’t work.

Re: Apple announces Apple Card credit card

#159

Post by jumbopapa » Mon, Mar 25, 2019, 6:14 PM UTC

dwighttk wrote: post #126

jumbopapa wrote: post #64

Earlier quoted context omitted.

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.

I use Citi and there are no limits. I pay my balance in full every month and it's actually better IMO because it incentives payments. PenFed you don't have to be military, you can be a member as well and it's a pretty good bank anyways. Fidelity you can use their checking account, so it's as good as cash.

Apple requires you to use Apply Pay to earn 2%, so it comes with it's own caveats.

Re: Apple announces Apple Card credit card

#160

Post by onlyrealcuzzo » Mon, Mar 25, 2019, 6:14 PM UTC

ajra wrote: post #131

It seems to me that Apple can offer reduced fees due to the fact that they'll have less fraud as a result of requiring touch/face ID for every purchase. While interesting, it doesn't come close to solving what I feel is the largest problem with cards in the US today -- interchange fees.

I know this is a MasterCard, but it'd be more interesting if they were able to take out the $0.35 transaction fee on every transaction. This is the bread and butter of every payment processor, and it's complete rent seeking, AND supposedly all the major processors are going to RAISE it at roughly the same time in the coming months.

Eliminating the set transaction fee could open up so many potential businesses. But I'm not sure what incentive Apple has of getting rid of it. It's a cash cow.