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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

#141

Post by lotsofpulp »

wolvoleo wrote: post #127
silisili wrote: post #96

Earlier quoted context omitted.

It is, but I typically only carry two - the 3% back and the grocery 6% back as the others are mainly online or automated. > I carry exactly one debet card in my wallet (.eu) and use it for everything Not sure about eu but in the US that's generally not advised, due to the semantics of how the cards work and legal fraud liabilities. Basically, if someone skims your debit card, they take your money and you have to some…

Here it's about the same. Even with a skimmed credit card you're on the hook for the bill, there's no chargeback. But skimming is really rare because we no longer have the old insecure systems of card imprinting, signature, magstripes etc. It's all chip&pin or contactless. I don't think anyone I know uses a credit card for daily purchases here in Spain.

Skimming is rare in the US too, as tap to pay is at 90% of payment terminals, and chip reading is at 99% of payment terminals (guesstimates based on the last time I swiped my card).

Re: Chase to become new issuer of Apple Card

#142

Post by LPisGood »

lotsofpulp wrote: post #140
IncandescentGas wrote: post #70

Earlier quoted context omitted.

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.

Chase Sapphire Preferred is less than 100 per year and it has those things.

Re: Chase to become new issuer of Apple Card

#143

Post by veidr »

lotsofpulp wrote: post #137
ifwinterco wrote: post #114

Earlier quoted context omitted.

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 onl…

Well if you can get $100 worth of X on credit card for $98, but you can buy the same thing with cash for $97, aren't you actually paying 150% of the "cash back" with your own money? ¯\\_(ಠ_ಠ)_/¯

Re: Chase to become new issuer of Apple Card

#144

Post by AndrewKemendo »

internetter wrote: post #90
AndrewKemendo wrote: post #45

Earlier quoted context omitted.

Which is actually more secure across the board, which is why I prefer it

> Which is actually more secure across the board Than mobile payments? Absolutely not

Preventing an RFD vector on the physical card and assuming the user will use mobile payments is less secure than RFD on the card also?

Methinks your reading was not sufficient

Re: Chase to become new issuer of Apple Card

#146

Post by x187463 »

A nice feature of the Apple Card is the very fast processing of transactions. I can pay for something and have it show up as pending and clear within a day. Whereas my bank credit card will leave transactions pending for an average of five days. The fast clearing is not a huge deal, but it's nice as it pairs well with a daily YNAB routine.

The actual rewards are pretty average, but that's okay. I don't really get the elitism I'm seeing in the comments from people who act like you're an idiot for not juggling a half-dozen cards with varying annual fees and rotating bonus points categories. For people who don't travel, rent cars, dine out, etc. the Apple card is a fine everyday card given the number of places that qualify for 2%. In the end, for people making the average US salary, +/-1% in limited categories is not worth the administrative overhead and credit impact of managing a bunch of cards.

I personally enjoy some of the min-maxing involved in managing cards/finances, but I wouldn't go as far as to call somebody 'financially illiterate', as one commenter did, for using the physical apple card and receiving 1% back on the rare occasion contactless payment doesn't work somewhere.

Re: Chase to become new issuer of Apple Card

#147

Post by triceratops »

hamburglar wrote: post #44
xyst wrote: post #10

I wonder what these means for my credit limit. I have a chase card with 60XXX CL and an AC with 50XXX.

Why would you want such a high credit limit? Are you dying to spend money you don’t have?

Why would you assume they don't have $11xxxx?

Re: Chase to become new issuer of Apple Card

#148

Post by tencentshill »

zarzavat wrote: post #103
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.

I use and love Apple Pay, but it's not ideal for every situation. The biggest flaw is that it requires waving your expensive phone in the vicinity of the reader. Apple Pay is more risky than contactless cards. There is a risk of dropping your phone or it being stolen out of your hand. I only use it in controlled indoor environments, like at a retail store, where I have enough personal space to feel comfortable gettin…

Where do you live where your phone can't be out in public for fear of opportunistic theft?

Re: Chase to become new issuer of Apple Card

#149

Post by wolvoleo »

lotsofpulp wrote: post #141
wolvoleo wrote: post #127

Earlier quoted context omitted.

Here it's about the same. Even with a skimmed credit card you're on the hook for the bill, there's no chargeback. But skimming is really rare because we no longer have the old insecure systems of card imprinting, signature, magstripes etc. It's all chip&pin or contactless. I don't think anyone I know uses a credit card for daily purchases here in Spain.

Skimming is rare in the US too, as tap to pay is at 90% of payment terminals, and chip reading is at 99% of payment terminals (guesstimates based on the last time I swiped my card).

Yes but the magstripe is still present thus it can be skimmed.

Here in Europe a lot of cards don't have a magstripe anymore, or it is deactivated (containing no relevant payment info but a functional header)

My bank asked if I still wanted it in case I'd travel to the US or some other countries but I never travel outside of EU anymore so I didn't want one.

Re: Chase to become new issuer of Apple Card

#150

Post by 46493168 »

veidr wrote: post #143
lotsofpulp wrote: post #137

Earlier quoted context omitted.

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 onl…

Well if you can get $100 worth of X on credit card for $98, but you can buy the same thing with cash for $97, aren't you actually paying 150% of the "cash back" with your own money? ¯\\_(ಠ_ಠ)_/¯

> but you can buy the same thing with cash for $97

Merchants rarely offer cash discounts in the US.

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