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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

#171

Post by wolvoleo »

devilbunny wrote: post #167
wolvoleo wrote: post #160

Earlier quoted context omitted.

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…

#3 is a reason not to use a debit card but to use credit instead. If you pay your balance in full every month, on time, then there is no interest due at all. So even after you get your bill, if the card has been used fraudulently, it's not your problem and you can't be stuck with the bill . I was using the generic "you", not you specifically. Many people don't understand this about credit cards in the US. If an entir…

I don't think consumers are idiots but I do think the system is skewed towards unhealthy borrowing. These protections and cashbacks are nothing but an incentive to keep it the same. The exact same could be done with debit cards after all. The banks are making money off the late payments and customers are incentivised to buy things they can't really afford.

Don't forget this system already collapsed in a big way in 2007 and it had massive global ramifications.

Re: Chase to become new issuer of Apple Card

#172

Post by kshacker »

nozzlegear wrote: post #162
lotsofpulp wrote: post #157

Earlier quoted context omitted.

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…

Like I said, I don't think I've ever seen them. For instance, you can't go into a Walmart or Best Buy and ask for a cash discount. Maybe a small business offers them, but I live in a small town (pop I'm not disputing they exist, just that it's exceedingly rare and not the norm. > My barber has a sign with a cash price, a Zelle/Venmo price, and a credit card price. I'm half joking and half serious, is he intentionally…

From someone who lives in bay area (so not Think contractors. They also do it all the time. When I did a remodel a couple of years back, he asked for cash. It was a small amount so I did not think much until my accountant told me I will need receipts if I wanted them added to my house's capital /cost. I asked the contractor and he stalled me for weeks while also saying I will need to pay more for receipts, until one day I forgot chasing (and am thinking of it now) and just let it go I guess.

Re: Chase to become new issuer of Apple Card

#173

Post by kshacker »

tripletao wrote: post #105
lxgr wrote: post #50

Earlier quoted context omitted.

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…

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.

Bank of America Preferred rewards card is even better with one caveat that there is a $95 annual fee. You get the 2.625 but you also get 3.5 on travel and dining, and you also get Global Entry paid once every 4 years, and $100 in travel incidentals (bag fees, wifi on plane) every year. And you do not need to redeem against travel, you can get cash back if that's what you want.

Re: Chase to become new issuer of Apple Card

#174

Post by kshacker »

jerlam wrote: post #25
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?

It's not tremendously better than existing cards. 2% cash back is practically the floor for rewards cards. I've had a 2% rewards card for over a decade (Citi Double Cash). People are able to get around 5% rewards if they're willing to be stuck with miles, locked into a specific retailer/company, or deal with rotating categories.

Incidentally that's when I got the double cash card because in those days that was the top. Fidelity and some other company had 2%, but that was it (not considering what Amex Elite might have had) for all purchase.

Re: Chase to become new issuer of Apple Card

#175

Post by kshacker »

smsm42 wrote: post #83
itake wrote: post #49

Earlier quoted context omitted.

Apple had a promotion at the start of 2025 with 5% cash back on everything up to $50k. I paid my taxes with that card that year :)

That only makes sense if they don't charge extra for paying with CC. Most places I've seen would charge you 3-4% fee for CC payment, which makes the whole thing pointless - except if you need a big spend e.g. for a sign-up bonus.

I paid my son's tuition yesterday at a 2.90% charge. Since the cashback of 2.625 is also on the charge, my net cost for about 10.6K tuition was about $15. I keep the money invested in SGOV (state tax exempt), for a month, I make that $15 anyways, and it helps me follow lessons from corporations - pay only at the latest due date without any charges.

So in this case there was no saving, just a deferment of payment, but if the charge was 2.5%, 2.2% or 1.9% (like I did for something else), you absolutely saved some money besides deferment.

I am not starving for pennies, but using the card to get 2.62% back has become a habit and until recently the highest I had paid was 2.75%, the 2.9% was just yesterday for the first time and rather than think more about the impact, I just paid it.

Re: Chase to become new issuer of Apple Card

#176

Post by hamburglar »

unethical_ban wrote: post #104
hamburglar wrote: post #44

Earlier quoted context omitted.

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

Hate the game, not the player. High credit limits = lower utilization ratio = better credit score.

Oh I do hate the game. I refuse to worry about credit scores and I haven’t checked mine in over 20 years. I’ve got a ridiculously low credit limit and that suits me just fine. Live like you don’t need credit.

Re: Chase to become new issuer of Apple Card

#177

Post by hamburglar »

milkshakes wrote: post #52
hamburglar wrote: post #44

Earlier quoted context omitted.

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

credit utilization is a factor in credit scores, which are important for things like mortgages and auto loans. higher credit limit, ceteris paribus, is lower utilization

I have never had a credit limit higher than 1800. I’ve managed to get lots of mortgages at rates that are just fine. Stop believing you’re a slave to your credit score.

Re: Chase to become new issuer of Apple Card

#178

Post by milkshakes »

hamburglar wrote: post #177
milkshakes wrote: post #52

Earlier quoted context omitted.

credit utilization is a factor in credit scores, which are important for things like mortgages and auto loans. higher credit limit, ceteris paribus, is lower utilization

I have never had a credit limit higher than 1800. I’ve managed to get lots of mortgages at rates that are just fine. Stop believing you’re a slave to your credit score.

i don't have any problems with credit, i am just answering the question

Re: Chase to become new issuer of Apple Card

#179

Post by cj »

46493168 wrote: post #150
veidr wrote: post #143

Earlier quoted context omitted.

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.

Except nearly every restaurant I frequent. Example menu below with cash and credit prices, credit prices being 4% more. I see this commonly.

https://misslucyskitchen.com/menu

Re: Chase to become new issuer of Apple Card

#180

Post by nutjob2 »

pandemic_region wrote: post #87
silisili wrote: post #62

Earlier quoted context omitted.

Fair points. > The 3% is good, but you have to pay $5 a month, so equivalent $60 annual fee. It's $50 a year, which isn't nothing, but more than pays for itself with either the 3% IRA match or 1k free margin. Understandably, not everyone wants to invest, so point taken. > I assume thats using the high end cards with fairly hefty annual fees, or category cashback. The only one with a fee is Amex Blue Cash Preferred, w…

That looks like a a crazy amount of cards. I carry exactly one debet card in my wallet (.eu) and use it for everything.

Using debit card for online purchases has substantial negatives and credit cards are much preferred (this may be US specific), but in the EU credit cards are a different kettle of fish and not as good as US cards.
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