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Chase to become new issuer of Apple Card

jpmorganchase.com

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Re: Chase to become new issuer of Apple Card

#131

Post by rootusrootus »

wt__ wrote: post #129
plorkyeran wrote: post #64

Earlier quoted context omitted.

The physical card is explicitly just a backup option for when contactless payment isn't available. It would be sort of weird to make it support contactless payment.

EDIT: hmm, actually the screenshots on Apple.com show a card with a chip, so how come contactless doesn’t work? Deliberately disabled? —- Wearing my ecology hat, you could argue if barely any of their customers will use it for contactless, then it’s a waste of resources manufacturing a chip. (Of course there are plenty of other areas of Apple’s business where they thoroughly undermine this - persuading people to buy…

There are titanium cards with tap and pay. So I think it’s just an Apple policy.

Re: Chase to become new issuer of Apple Card

#132

Post by delfinom »

apaprocki wrote: post #98
camkego wrote: post #85

Didn't a HN reader/poster get locked out of his Apple accounts because of late payments or some other type of issue with an Apple Card credit card? If this can happen, I don't plan on ever getting one.

I had thousands of dollars of charges I didn’t make (but billed electronically via Apple as if my card was attached to someone else’s iCloud account) appear, exceeding my limit and locking my entire family out of the shared Apple subscriptions (e.g. no music on their devices but strangely music on mine). GS could remotely lock your Apple account at will it seemed. Called, charges reversed, 1 month later they were all…

You clearly never experienced chases anti-fraud division. Who will, without warning, close all of your chase accounts because you used a credit card at the wrong store at the wrong time and you set off whatever fraud score. And csr will not help you as the anti fraud system is treated as god.

Re: Chase to become new issuer of Apple Card

#133

Post by apaprocki »

delfinom wrote: post #132
apaprocki wrote: post #98

Earlier quoted context omitted.

I had thousands of dollars of charges I didn’t make (but billed electronically via Apple as if my card was attached to someone else’s iCloud account) appear, exceeding my limit and locking my entire family out of the shared Apple subscriptions (e.g. no music on their devices but strangely music on mine). GS could remotely lock your Apple account at will it seemed. Called, charges reversed, 1 month later they were all…

You clearly never experienced chases anti-fraud division. Who will, without warning, close all of your chase accounts because you used a credit card at the wrong store at the wrong time and you set off whatever fraud score. And csr will not help you as the anti fraud system is treated as god.

Funny you mention that. I did open a joint Chase account back when I was getting married and first order of business was paying for all the wedding expenses. We went to QR, Mexico for a weekend getaway prior to the madness and because I logged into the Chase account from Mexico they not only locked the bank account, but completely closed it with no way to reopen. We had to both go to the Chase branch at which it was opened with passports and even then the manager said Chase would mail me the money in 3-6 weeks, 2-5 weeks after the wedding. I politely told him I was not leaving the building until he handed me the cash in an envelope and after some time he finally caved and did it after making some phone calls.

Most bizarre experience. Never had a bank account with Chase ever again after that incident.

Re: Chase to become new issuer of Apple Card

#134

Post by e40 »

vladgur wrote: post #94

For people living in the states there are better deals to be had: Multiple 2% cashback cards Amazon prime - 5% off Amazon and Whole Foods purchases, but you have to be a prime subscriber Robinhood gold -3% off anything for $60/year Amex blue cash rewards - 6% off groceries(and gift cards bought at supermarkets) for $75 per year

Re the Amazon card, it used to be offered through Synchrony Bank (I think I got the name right). I had a lot of weird issues with them and their customer service was very difficult to get ahold of and were terrible once you did. I ended up canceling the card.

Re: Chase to become new issuer of Apple Card

#135

Post by hurfdurf »

camkego wrote: post #85

Didn't a HN reader/poster get locked out of his Apple accounts because of late payments or some other type of issue with an Apple Card credit card? If this can happen, I don't plan on ever getting one.

This?

https://news.ycombinator.com/item?id=44021792

https://news.ycombinator.com/item?id=26310817

But:

"Allegedly unrelated to the apple card, your appleid just gets locked if you don't fulfill a trade-in."

Re: Chase to become new issuer of Apple Card

#137

Post by lotsofpulp »

ifwinterco wrote: post #114
StopDisinfo910 wrote: post #88

Earlier quoted context omitted.

Yes, fees are capped in the EU for exemple. Considering the impact on prices, cashback is basically reverse redistribution. It makes the situation worse for the poorest customers to give money to the banks and their richest customers.

Yep if you use a card in the US the company just takes 2c from your left pocket and puts it in your right pocket in a form that's more difficult to use. And if you don't use a card, the business takes 2c from your left pocket and keeps it. It's a great trick though, people really buy into the whole points/cashback thing and don't realise they're being paid with their own money

It’s not being paid with my own money. If I can get 2% cash back, then the situation is I either pay 98% of $x, or $x.

Nowadays though, many sellers are offering at least 3% or higher discounts for not using credit card. My mobile network provider, home ISP, daycare and kids activities, insurance, taxes, healthcare, tradespeople, and even Target offers a 5% discount if you do not use a credit card.

It’s basically only travel, restaurants, and non Target retail that earns credit card rewards. Although sign up bonuses make it worth paying the additional credit card fees sometimes.

Re: Chase to become new issuer of Apple Card

#138

Post by lotsofpulp »

lxgr wrote: post #123
tripletao wrote: post #105

Earlier quoted context omitted.

Bank of America Travel Rewards is effectively 2.625% on everything if you put >$100k in a Merrill account and redeem the rewards against "travel" (including restaurants in any location) expenses charged to the card. There's no foreign transaction fee. The biggest downside is all the dark patterns at Merrill trying to sell you advisory services. That seems to be only upon account opening, though.

Yes, that’s a great cashback setup, but definitely not a “no catch” one. Really not a fan of the brokerage UX and generally the BofA web/app experience.

If all you’re doing is buying and holding VOO or TTTXX or similar, I don’t see what difference any of the major brokerage websites makes. If anything, I prefer BoA as they allow you to configure at least 2 phone numbers for SMS 2FA, so I don’t have to hunt down my wife to get the 2FA code.

Re: Chase to become new issuer of Apple Card

#139

Post by AndrewKemendo »

mdasen wrote: post #75
AndrewKemendo wrote: post #48

Does anyone know why they moved away from GS? Frankly I liked that they had GS as the bank cause they come with a pretty amazing customer support system

It's part of a larger move by GS to exit consumer banking.

Makes sense

Re: Chase to become new issuer of Apple Card

#140

Post by lotsofpulp »

IncandescentGas wrote: post #70
nomilk wrote: post #17

Hadn't even heard of Apple Card until now: https://www.apple.com/apple-card/ A credit card with > No fees. Not even hidden ones and > 2% cash back when you use Apple Card with Apple Pay and > 3% cash back at Apple (and Uber, Uber Eats, Booking.com and a few others) when you use Apple Pay This seems... really good. As in, it's essentially free money. Am I missing a catch here?

Has none of the usual expected perks like rental car insurance or damage/theft protection on purchases. Guess purchase protection would be a threat to applecare revenue.

I have only seen cards that cost hundreds of dollars per year have decent rental car/travel/theft insurance.
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