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Apple announces Apple Card credit card

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Re: Apple announces Apple Card credit card

#761

Post by eridius »

lsiebert wrote: post #730
eridius wrote: post #661

Earlier quoted context omitted.

The legal system lets them say "you already have the information? Great, give it to me". It doesn't let them say "you have to redesign your systems to collect information that you explicitly told your users you aren't collecting". I don't have a direct citation for you, besides having seen this spoken about before, but a simple thought exercise should prove it: If the government could compel that sort of thing, then…

I personally want the law to say that but: The FBI took a different view in a recent court case referencing the All Writs act of 1789 https://en.wikipedia.org/wiki/FBI%E2%80%93Apple_encryption_d... but dropped it when they unlocked the device by other means., and the issue hasn't really made it through the court system, so it's unclear what the law requires. Until a federal case gets to the appeals court level it bas…

Good news is the FBI doesn't write the law. My recollection is the general consensus was the FBI was severely overreaching and was going to lose their court case.

Re: Apple announces Apple Card credit card

#762

Post by karakot »

astura wrote: post #755
karakot wrote: post #622

Earlier quoted context omitted.

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.

No, the Paypal Mastercard doesn't have foreign transaction fees and earns 2% everywhere with no earning cap. (I just looked up if there is an earning cap) You have to consider, for Fidelity Visa the foreign transaction fee is 1% and the cashback is 2%. So you can say it has cash back of 1% overseas and 2% domestically; which is a better deal for the vast majority of people than 2% on ApplePay and 1% on non-ApplePay.…

Still no card beats it in Apple spending category, which might be larger than gas /travel or dinning out for many Americans. So it will perfectly work for them. I probably will get it too - buying a new macbook for my daughter, upgrading my spouse's iphone and my apple watch this fall.

Re: Apple announces Apple Card credit card

#763

Post by ksec »

sjwright wrote: post #741
ksec wrote: post #315

Earlier quoted context omitted.

>I doubt the other banks are too afraid of Apple though, I didn't see anything so compelling about the Apple card that would cause it kill other credit cards. Interesting. I thought it offer fairly good Cash Back, no Fees, no hassle, ease of use. Even if it manage to reach 10% of the US iPhone users it will be a serious damage to other CC. While I may not get the best Rebate and Points when using Apple Card, I don't…

Apple hasn't patented cash back, no fees, or ease of use. The other banks are free to copy most of these ideas if they're prepared to. Look at the personal finance scene in the UK—it's one of the more vibrant markets for banking right now with the likes of Monzo, Revolut, Monese, and countless others. Convenience and simplicity has prior art there.

But none of them integrate as well as Apple Card. And none of the other brand are as trusted as Apple. Unless other big banks offer something similar, people will choose a well known brand that offer these capabilities and not some unknown ones.

Re: Apple announces Apple Card credit card

#764

Post by on_and_off »

ralusek wrote: post #189
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.

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…

Paypal has been completely atrocious at this since its beginnings. Many horror stories of project cancelled and companies closing because Paypal had decided to close their account.

We really need something better.

Re: Apple announces Apple Card credit card

#766

Post by sethhochberg »

banana_giraffe wrote: post #675
sethhochberg wrote: post #522

Earlier quoted context omitted.

Though very few and far between at this point, I'd say there are still a few times a year when I explicitly need to swipe a magstripe on my credit card - most recently a rural gas station in the California desert where I was seriously dependent on being able to fill up a tank. I think many people, myself included, would still consider a credit card without the option to fall back to magstripe a nonstarter for their p…

What about people that use "knuckle-busters" to make a carbon impression of the card's numbers? I have a card that has a real number, but doesn't have the embossed numbers on it, so it too wouldn't work in such a machine. To be fair, it's been years since I've run into one of those machines, so they may no longer be used, or people that use them are just used to rejecting cards they can't impression.

As far as I know, writing down the card details manually instead of taking an imprint is a viable option.

Re: Apple announces Apple Card credit card

#767

Post by pryce »

rjf72 wrote: post #726
pryce wrote: post #688

Earlier quoted context omitted.

Deciding 'whether to do business with someone or not' is one of the kinds of freedoms capitalism is supposed to protect. Outside of a standard set of specific reasons for which it is agreed to be illegal to refuse business (race, sex, orientation etc..), no business is supposed to be able to be compelled -by the government- to associate or transact with another. Instead, boycotts are used by the public themselves (ra…

The one big issue you're ignoring here is that the effective monopolization of various industries is opening the door to governmental action without the necessity of law. Consider something like Visa and Mastercard both deciding to block donations to Wikileaks. Was this an organic action or was it the government aiming to attack perceived enemies by exerting their clout behind the scenes? It needn't be some grand or…

I do think that's a very important problem, and yes I agree it is more than likely the US Government was responsible for that. In cases like that I think the government should be dutybound to make its actions public. It's possible the govt announced it at the time, but if so then I am unaware.

Re: Apple announces Apple Card credit card

#768

Post by lsiebert »

eridius wrote: post #761
lsiebert wrote: post #730

Earlier quoted context omitted.

I personally want the law to say that but: The FBI took a different view in a recent court case referencing the All Writs act of 1789 https://en.wikipedia.org/wiki/FBI%E2%80%93Apple_encryption_d... but dropped it when they unlocked the device by other means., and the issue hasn't really made it through the court system, so it's unclear what the law requires. Until a federal case gets to the appeals court level it bas…

Good news is the FBI doesn't write the law. My recollection is the general consensus was the FBI was severely overreaching and was going to lose their court case.

I mean that's what I think, but general consensus also doesn't write the law, unfortunately.

Re: Apple announces Apple Card credit card

#770

Post by baby »

Gaelan wrote: post #719
baby wrote: post #657

Earlier quoted context omitted.

From a UK perspective this card doesn’t make much sense as Monzo or Revolut are probably way better products. For the US there is pretty much zero competitors as banks are stuck in the past. As for storing transactions on device only, there’s probably an encrypted backup on iCloud.

We've got Simple which is pretty similar to Monzo AFIACT.

It's really not as good as Monzo/Revolut and not available to everyone in the US (lots of permanent residents can't get Simple).
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