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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

#151

Post by nickthegreek »

socalgal2 wrote: post #100
smsm42 wrote: post #77

Earlier quoted context omitted.

The catch is it's very annoying to use outside of Apple ecosystem - e.g. if you don't have an iphone or don't want (or can not) use ApplePay. Also, 2% cashback and no fees is nothing exceptional (in US market) - I mean, it's on the better end but there are a number of cards with similar deal from Wells Fargo, Fidelity, Capital One, etc. So it's not that spectacular - you can have the same deal without being hardwired…

what's the hard part outside of the Apple ecosystem? They give you a physical card and a normal ccard number. What else is there?

using normal card offers a reduced cashback of 1%.

Re: Chase to become new issuer of Apple Card

#152

Post by ifwinterco »

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…

My point is if credit cards didn't exist, the $1 thing would cost 98c, so in that sense it's your money.

Admittedly that is overstating it a bit because not everyone uses a rewards card. In reality the 2% cashback is 1% your own money being given back to you and 1% money from people paying in cash being transferred to you (normally regressively as someone else pointed out).

If you get a discount for paying cash, then it really is just your own money

Re: Chase to become new issuer of Apple Card

#153

Post by presto8 »

lxgr wrote: post #50
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?

There are still several 2% cards that don’t require Apple Pay, although I don’t know of any with no foreign exchange fee other than maybe the Fidelity one. For everything where Apple Pay works, it’s a great deal; for everything else, it’s below average (as there are many 1.5% on everything cards). > it's essentially free money. Am I missing a catch here? In the end, all you’re doing is recouping a bit more of your ow…

> There are still several 2% cards that don’t require Apple Pay, although I don’t know of any with no foreign exchange fee other than maybe the Fidelity one.

The Bread American Express is a 2% card and no FTF. Fidelity is still the best overall card, but sometimes the AmEx can be nice.

Re: Chase to become new issuer of Apple Card

#154

Post by devilbunny »

wolvoleo wrote: post #124
__alexs wrote: post #117

Earlier quoted context omitted.

This is not even a particularly competitive cashback card in the UK. But perhaps you don't consider that a "more regulated country."

The UK is very similar to the US, very neoliberal. They have a little more consumer protection but not a lot. Here in Spain cards don't tend to provide any cashback, also they hurt your credit rating (in contrast with the US where they improve it and people end up shuffling cards). They're pretty unpopular here, most people just use debit cards. I prefer it too, if I don't need credit to buy something I don't want to…

Credit cards are, oddly enough, one place in which the US has absolutely amazing consumer protection laws. Debit cards do not share these protections by law (though many banks offer some of them).

So, if you move to the US, getting a credit card, even if you never intend to carry a balance, is a wise idea.

- You cannot be held responsible for more than $50 of fraudulent charges

- You are not required to report a card missing within a short period of time to claim that charges are fraudulent

- Because your bank account is not directly linked to the credit card, fraudulent charges occur with the credit bank's money, not yours, so you do not have to fight to have them declared fraudulent before you can use money in your account

Re: Chase to become new issuer of Apple Card

#155

Post by adw »

e40 wrote: post #134
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.

The Prime credit card is Chase.

Re: Chase to become new issuer of Apple Card

#156

Post by nozzlegear »

ifwinterco wrote: post #152
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…

My point is if credit cards didn't exist, the $1 thing would cost 98c, so in that sense it's your money. Admittedly that is overstating it a bit because not everyone uses a rewards card. In reality the 2% cashback is 1% your own money being given back to you and 1% money from people paying in cash being transferred to you (normally regressively as someone else pointed out). If you get a discount for paying cash, then…

It's exceedingly rare to offer a cash discount in the US, I honestly don't think I've ever seen one in person.

Re: Chase to become new issuer of Apple Card

#157

Post by lotsofpulp »

nozzlegear wrote: post #156
ifwinterco wrote: post #152

Earlier quoted context omitted.

My point is if credit cards didn't exist, the $1 thing would cost 98c, so in that sense it's your money. Admittedly that is overstating it a bit because not everyone uses a rewards card. In reality the 2% cashback is 1% your own money being given back to you and 1% money from people paying in cash being transferred to you (normally regressively as someone else pointed out). If you get a discount for paying cash, then…

It's exceedingly rare to offer a cash discount in the US, I honestly don't think I've ever seen one in person.

They are all over the place, especially small businesses. A cash only (paper money) price is typically less than debit card or other electronic “cash” discounts because tax evasion is assumed.

Next time you have an independent contractor do some work, after they give a price, ask them if they will accept 90% or even less if you pay cash.

My barber has a sign with a cash price, a Zelle/Venmo price, and a credit card price.

Re: Chase to become new issuer of Apple Card

#158

Post by jerlam »

lotsofpulp wrote: post #157
nozzlegear wrote: post #156

Earlier quoted context omitted.

It's exceedingly rare to offer a cash discount in the US, I honestly don't think I've ever seen one in person.

They are all over the place, especially small businesses. A cash only (paper money) price is typically less than debit card or other electronic “cash” discounts because tax evasion is assumed. Next time you have an independent contractor do some work, after they give a price, ask them if they will accept 90% or even less if you pay cash. My barber has a sign with a cash price, a Zelle/Venmo price, and a credit card p…

I've seen it quite often for gasoline. Two sets of prices, one for credit, the other for debit/cash.

I've also seen it more common as a credit card surcharge (at the bottom of a menu) than a cash discount.

Re: Chase to become new issuer of Apple Card

#159

Post by smsm42 »

socalgal2 wrote: post #100
smsm42 wrote: post #77

Earlier quoted context omitted.

The catch is it's very annoying to use outside of Apple ecosystem - e.g. if you don't have an iphone or don't want (or can not) use ApplePay. Also, 2% cashback and no fees is nothing exceptional (in US market) - I mean, it's on the better end but there are a number of cards with similar deal from Wells Fargo, Fidelity, Capital One, etc. So it's not that spectacular - you can have the same deal without being hardwired…

what's the hard part outside of the Apple ecosystem? They give you a physical card and a normal ccard number. What else is there?

IIRC even activating the physical card requires an app, which is of course only existing on iphone. Also, the user agreement specifies you need a device which is ApplePay compatible (i.e., iphone). Also, IIRC the card doesn't actually have a number anywhere, so if you ever need to enter it, you're out of luck. And to use the cashback funds, IIRC you need the app again.

Re: Chase to become new issuer of Apple Card

#160

Post by wolvoleo »

devilbunny wrote: post #154
wolvoleo wrote: post #124

Earlier quoted context omitted.

The UK is very similar to the US, very neoliberal. They have a little more consumer protection but not a lot. Here in Spain cards don't tend to provide any cashback, also they hurt your credit rating (in contrast with the US where they improve it and people end up shuffling cards). They're pretty unpopular here, most people just use debit cards. I prefer it too, if I don't need credit to buy something I don't want to…

Credit cards are, oddly enough, one place in which the US has absolutely amazing consumer protection laws. Debit cards do not share these protections by law (though many banks offer some of them). So, if you move to the US, getting a credit card, even if you never intend to carry a balance, is a wise idea. - You cannot be held responsible for more than $50 of fraudulent charges - You are not required to report a card…

Hmm point #2 is not really required here either. In the past I have been skimmed once and I was notified by the bank before I even noticed the transactions. They had noticed because several cards used at a specific public ATM had been skimmed and abused, they removed the transactions immediately and sent me a new card. Very proactive, I didn't have to do anything.

Point #3 doesn't really play here because the credit card is simply a loan in your name and you are liable for the full amount regardless. You could simply not pay the bill but then the insane interest builds up.

I will never move to the US though anyway. I won't even visit until the situation improves.

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