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Apple announces Apple Card credit card

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Re: Apple announces Apple Card credit card

#411

Post by crazygringo »

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?

I guess this means there's no minimum monthly payment?

E.g. generally a credit card will have a minimum of, say, $29/mo., if you have a balance of maybe $500... if you have a balance of $10K the minimum might go up to $129 or something. And if you don't pay the minimum, you're hit with the late fee.

I never really understood the purpose of minimum monthly payment, except maybe it's useful in proving you're not a complete deadbeat, and also probably not dead? Getting rid of it does seem like a consumer-friendly innovation maybe?

Re: Apple announces Apple Card credit card

#412

Post by eli_gottlieb »

vkou wrote: post #257
throwawaysea wrote: post #172

I don't thing it is healthy to have big entities like this control fundamental services like payment processing. How long before the opaque governance of the App Store is applied to their payments offering? How long before activists start making this a new vector for deplatforming? Apple also announced a news offering ( https://www.techradar.com/news/apple-news-plus ) and I think the same concerns apply there.

Payment platforms, including Visa and Mastercard, have deplatformed merchants, are currently deplatforming merchants, and will continue to deplatform merchants, for all sorts of reasons, since day 1. This sort of deplatforming happens for moral reasons (adult content), discriminatory reasons (Suppression of gay activist movements in the 90s), political reasons (Suppression of IRA/ISIS symathisers), legal reasons (Enf…

We get up in arms about it because we think that it's unethical in all but the last case. Society as a whole should be publicly deciding which personal transactions are forbidden, not the payment processing platform.

Re: Apple announces Apple Card credit card

#413

Post by ashildr »

SonicSoul wrote: post #352
stevenhubertron wrote: post #201

Earlier quoted context omitted.

how is this remotely true? Apple has nearly nothing on you. Amex knows what I buy, when, and where.

if you're using their products, why would they not know anything about you? using their phone, app store, itunes, news app, maps appointments.. maybe im missing something? I'm not saying they have your purchase history, but they have a lot

So you did inform yourself about Apples technical implementation of those services and the implications for privacy, or did you just make an uninformed guess to post something?

Re: Apple announces Apple Card credit card

#415

Post by intopieces »

mortenjorck wrote: post #289
intopieces wrote: post #92

Earlier quoted context omitted.

Why do you prefer a debit card over a credit card?

I don’t know about the OP’s reasoning, but for me, it’s much easier to track spending with only a debit card than with a credit card that I periodically pay off from my checking account. A single stream of transactions is much easier to budget than one that cascades into the other.

That makes sense. Some banks offer the ability to track all accounts in one place, but my bank’s implementation is not that good and I haven’t found a good app I can trust to do it.

Re: Apple announces Apple Card credit card

#416

Post by [deleted] »

morpheuskafka wrote: post #273
throwawaysea wrote: post #172

I don't thing it is healthy to have big entities like this control fundamental services like payment processing. How long before the opaque governance of the App Store is applied to their payments offering? How long before activists start making this a new vector for deplatforming? Apple also announced a news offering ( https://www.techradar.com/news/apple-news-plus ) and I think the same concerns apply there.

> I don't thing it is healthy to have big entities like this control fundamental services like payment processing. You mean big entities like transnational banks and payment networks?

[deleted]

Re: Apple announces Apple Card credit card

#417

Post by csomar »

olivermarks wrote: post #200

https://www.economist.com/business/2017/10/28/apple-should-s... (2017) 'The world’s biggest firm has a financial arm half the size of Goldman Sachs' '...Apple says that its “value-at-risk” (VAR), a statistical measure of the maximum likely loss in an average day, is $434m. That is huge: similar to the combined VAR of the world’s top ten investment banks. In theory losses on derivatives would be offset by gains in the…

> In theory losses on derivatives would be offset by gains in the value of Apple’s underlying business. But the sheer size of these positions gives pause for thought.

What's the point of this article? Apple is so big that its derivatives for protection from FX volatility are so big?

What does the author suggests here; that they stop protecting against FX volatility?

Re: Apple announces Apple Card credit card

#418

Post by manigandham »

lawn wrote: post #277
ralusek wrote: post #189

Earlier quoted context omitted.

Look no further than the recent issue where Patreon competitor Subscribestar had payment processors Stripe and PayPal stop processing their payments for _political_ disagreements with the purported beneficiaries of the donations through the platform. PayPal said that it was actually one of the underlying payment processors, and it was suspected to be MasterCard. That incident was the first time I've ever taken the ne…

And people still wonder what problem cryptocurrencies tries to solve.

No, people are wondering why cryptocurrencies haven't actually solved anything yet.

Re: Apple announces Apple Card credit card

#419

Post by yep8883 »

OkGoDoIt wrote: post #386

If the credit card does not have any numbers on it, how do you make purchases online on sites that don’t directly accept Apple Pay? Does the Wallet app on your iPhone generate virtual card numbers on request that you can use online? Or are you only allowed to use it at websites that explicitly accept Apple Pay? I read through all the official Apple PR stuff and the fine print, don’t see any mention of this.

(You can generate one, though, if you plan to buy something from a site that does not yet support Apple Card but takes 16-digit credit card information.)

Re: Apple announces Apple Card credit card

#420

Post by usaphp »

OkGoDoIt wrote: post #386

If the credit card does not have any numbers on it, how do you make purchases online on sites that don’t directly accept Apple Pay? Does the Wallet app on your iPhone generate virtual card numbers on request that you can use online? Or are you only allowed to use it at websites that explicitly accept Apple Pay? I read through all the official Apple PR stuff and the fine print, don’t see any mention of this.

They said you can see the number in your wallet app
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