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Apple Card launches today for all US customers

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Re: Apple Card launches today for all US customers

#111

Post by fredophile »

whoopdedo wrote: post #98
fitzroy wrote: post #39

My biggest hope for this card is that it encourages far more people to use Apple Pay (2% vs 1% cash back), which, in turn, encourages more retailers to optimize the checkout process for contactless, and hopefully gets rid of having to use that gross stylus that everybody touches to sign that low-res LED screen with something that looks nothing like my signature. And it would also be great if it encourages US restaura…

Signatures are no longer required with chip cards.

I'm travelling in Europe right now and I can tell you that signatures are definitely still required with the chip. The only exception is if I use the one card I have with contactless payment.

Re: Apple Card launches today for all US customers

#112

Post by Gaelan »

TazeTSchnitzel wrote: post #72
nknealk wrote: post #56

I was recently in England. Nearly every payment terminal supports contactless in the cities I visited. I found myself using Apple Pay throughout the trip because it was fast and convenient. Also in restaurants they bring a payment terminal out to your table so you can pay with Apple Pay. Unfortunately, contactless payment terminals are somewhat more rare in the USA. My local grocery store (Kroger) doesn’t have them.

When I still lived in Scotland, I did everything day-to-day with either Apple Pay or (on busses, which somehow didn't support it) non-Apple Pay contactless.

> (on busses, which somehow didn't support it) non-Apple Pay contactless.

Anyone know how that could happen? My impression was that they used the same protocol.

Re: Apple Card launches today for all US customers

#113

Post by commoner »

creativityland wrote: post #99
adamredwoods wrote: post #12

What I found interesting: - No card number - "At Apple, we firmly believe in your right to privacy. That’s why we created a unique architecture for Apple Card that generates things like your transaction history and spending summaries right in the Wallet app on your iPhone. Of course, Goldman Sachs will use your data to operate Apple Card. But they will never share or sell your data to third parties for marketing or a…

Regarding the APRs, interesting note at the bottom. It's possible this will lower over time. > Variable APRs range from 12.99 percent to 23.99 percent based on creditworthiness. Rates as of August 2, 2019.

As a banking term, "variable APR" means that the interest rate will change when the prime rate changes.

https://en.wikipedia.org/wiki/Prime_rate

When the prime rate decreases, your variable APR will decrease by the same amount. But when the prime rate increases, your variable APR will also increase by the same amount.

The lending bank profits from the premium you pay over the prime rate. Generally, this premium doesn't decrease as long as you hold the card, although some banks will lower your interest rate if you have a long history with them, your account is in good standing, and you ask them nicely over the phone.

Re: Apple Card launches today for all US customers

#114

Post by Gaelan »

offmycloud wrote: post #15
brohoolio wrote: post #2

Pretty slick application process. Very quick approval. I’m digging the privacy. But it didn’t work when I tried to buy lunch. I’ll try again tomorrow.

Privacy? It's still a credit card. MasterCard still gets all your purchase data and can do whatever they want with it. Goldman Sachs gets your SSN, credit report, and bank account info.

Apple says something about Goldman not using the data for anything more than necessary. I don’t think they mans any guarantees about MasterCard.

Re: Apple Card launches today for all US customers

#116

Post by thecopy »

fredophile wrote: post #111
whoopdedo wrote: post #98

Earlier quoted context omitted.

Signatures are no longer required with chip cards.

I'm travelling in Europe right now and I can tell you that signatures are definitely still required with the chip. The only exception is if I use the one card I have with contactless payment.

I live in Europe (Sweden, Germany and Switzerland) and I have never needed to sign when paying with card (i.e. the chip – never used the magnetic strip). Perhaps its because you have a foreign card?

Re: Apple Card launches today for all US customers

#117

Post by hvidgaard »

fredophile wrote: post #111
whoopdedo wrote: post #98

Earlier quoted context omitted.

Signatures are no longer required with chip cards.

I'm travelling in Europe right now and I can tell you that signatures are definitely still required with the chip. The only exception is if I use the one card I have with contactless payment.

You normally use a pincode. I cannot remember the last time I had to sign anything anywhere in EU when paying with a chip card.

Re: Apple Card launches today for all US customers

#118

Post by stevespang »

Apple is partnering with Goldman Sachs as its issuing bank. Goldman Sachs will never share or sell data to third parties for marketing and advertising. Apple is also partnering with Mastercard to provide the support of a global payments network.

Will never share or sell ? Oh yeah, right.

Re: Apple Card launches today for all US customers

#119

Post by personlurking »

nknealk wrote: post #56

I was recently in England. Nearly every payment terminal supports contactless in the cities I visited. I found myself using Apple Pay throughout the trip because it was fast and convenient. Also in restaurants they bring a payment terminal out to your table so you can pay with Apple Pay. Unfortunately, contactless payment terminals are somewhat more rare in the USA. My local grocery store (Kroger) doesn’t have them.

Why contactless cards haven’t caught on in the U.S. (3 min)

https://www.youtube.com/watch?v=KRZ4OodETr8

Re: Apple Card launches today for all US customers

#120

Post by et2o »

tidepod12 wrote: post #53
js2 wrote: post #34

This is not a card for people looking to maximize rewards. It’s for Apple users who want decent benefits and no fees, who will mostly use Apple Pay. (Apparently it’s also good for folks establishing a credit history who might not otherwise get approved.) I’ve got 300k points between AmEx and Chase and I recently realized I can’t ever use them when I want to. I don’t want to play all the games of which points can I us…

I get not wanting to have to "activate" each quarter's deals (though really, it's literally a single button push once every three months...), but I don't get your point on any of the other stuff. Both AmEx and Chase have multiple cards that earn points that have no annual fees. Both of their point programs can be redeemed for straight cash back (just like the Apple Card, except Chase's offers better cash back percent…

How can you get a better cash back percentage and no fees with Chase?
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