Is it a secured card?
How do they determine the credit card limit?
Apple announces Apple Card credit card
621–630 of 778 posts
Re: Apple announces Apple Card credit card
#622Earlier quoted context omitted.
It's 2% cash back on Apple Pay, 3% cash back on Apple products, and 1% cash back on non-Apple Pay, non-Apple products. Do you know a better card that always gives 2% cash back, no cap?
Fidelity Visa is 2% on everything, no cap, no annual fee. Citi DoubleCash is 2% on everything, dunno if there's a cap, no annual fee. (you have to redeem into a bank account, not as statement credit, to get the full 2%) USAA Limitless is 2.5% cash back on everything, no cap. (military only, no longer available), no annual fee. If you have enough cash invested with Merrill Edge ($100,000, including IRAs) the Bank of A…
1. Fidelity Visa has international transaction fee.
2. Same for Citi DoubleCache.
3. The rest also have some annoyances (foreign fees, annual fees), so I'd say Apple card is not a bad one for an average CC user who doesn't want to spend too much time optimizing every last penny.
Re: Apple announces Apple Card credit card
#623“Goldman Sachs will never sell your data to third parties for marketing and advertising.” What if we wanted a more general promise to not sell our data at all? Or to not use it for anything at all except for processing transactions? The loophole is so big one could drive a truck through it
Exactly, will they sell this data to hedge funds? Research analysts?
Re: Apple announces Apple Card credit card
#624Isn't this is almost what Revolut is?
Re: Apple announces Apple Card credit card
#625This is interesting to observe from the UK. - Cashback is generally lower here because interchange fees are regulated/capped to 0.3% for personal credit cards and 0.2% for personal debit cards. Offers of 2% cashback simply won't work outside the US so I'll be curious to see how (if?) they try and expand this globally. - "All of the spending tracking and other information is stored directly on the device, not Apple’s…
> "Apple also says that it’ll use machine learning and Apple Maps to label stores that you use in the app, and use that data to track purchases across categories like “food and drink” or “shopping.” " - I guess this is novel in the United States, but challenger banks like Monzo/Starling have been doing this for a number of years. And even then, I don't think any machine learning is needed here. Monzo use the Merchant…
I think the novel thing here is that Apple won't actually have any idea who/where you're purchasing from, but will still be able to display data on your phone like they do.
Re: Apple announces Apple Card credit card
#626Earlier quoted context omitted.
I don't quite understand that, since the linked article says Apple will "use machine learning and Apple Maps to label stores that you use in the app, and use that data to track purchases across categories like “food and drink” or “shopping.”"
They said it that all happens on the device itself, and won't be transmitted back to their servers.
So if your spouse is an authorized user of the card (or if you get a new phone), there's no display of your entire household's stats?
Re: Apple announces Apple Card credit card
#627Earlier 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
Apple have built up a reputation for not knowing this about me as a consumer.
Maybe they do know lots about me, maybe they don’t. A significant part of their public reputation rests on their respecting privacy concerns however. So if it turned out that they were secretly collecting data on me they would take a hit to their public reputation and (very likely) their bottom line.
They are very much incentivised to keep my data private and imho that offers a strong likelihood that they’ll actually do so.
Re: Apple announces Apple Card credit card
#628I got all excited and then realized that almost none of the new services that were announced will offer me anything as a European. Apple Card most likely won't be coming to Europe any time soon. The streaming service is also not likely to come to Europe as it includes US-only services such as Hulu and Amazon Prime. I am aware that this is a bit of a 1st world problem, but all of these services being US-only can be re…
I would assume that Apple Card isn’t coming to Europe because Europe doesn’t permit credit cards to charge merchants the insane fees that fund rewards cards in the US. (I bet that if regulations changes and merchants started passing on fees in a transparent manner to customers, then rewards cards would go away in the US. How exciting would 2% back be if you also paid an extra 2% directly to each merchant for the priv…
Aren't merchants typically charged 3%?
Re: Apple announces Apple Card credit card
#629Earlier quoted context omitted.
There is interest, so you'd still be locked in the cycle. Just a little better off because they don't charge you $30-50 for paying late. But it appears they are much more forward on telling you how much interest you will be paying if you don't pay off the card.
From their website: Variable APRs range from 13.24% to 24.24% based on creditworthiness. Rates as of March 2019
wow, is 13.24% considered good?
Re: Apple announces Apple Card credit card
#630Earlier quoted context omitted.
somehow Netflix is available in majority of europe with english-only content and it’s fine. sometimes you can get subtitles even. so I don’t think that it is main reason why europe is second-class citizen in this regard.
The language might not be the biggest problem. The insane amount of regulation we have might be. Besides regulation, there are plenty of other differences between countries within the EU. For example, we don't have a unified banking system in the EU. Each country has its own preferred method of payment. In the Netherlands they have iDeal. In Belgium Bancontact. Dankort in Denmark. The list goes on [1]. Credit cards a…
It is true that there is a lot of diversity in local payment methods, but you can easily cover most of your potential customers by simply offering credit/debit card, bank transfer and paypal options. It's more than enough to get you started.
As for the supposed insane amount of regulation, the majority of international trade is regulated at the EU level so it's quite unified. Not to mention e-commerce which is completely regulated by the EU.
I am not saying that there is not a considerable amount of particularity that may be hindering small startups in fast expansion across Europe but I would find it quite hard to believe that it is much of a factor for the likes of Apple and Amazon.