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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

#81

Post by smsm42 »

nutjob2 wrote: post #46
silisili wrote: post #27

Earlier quoted context omitted.

One can do better. As just a one card catchall, Robinhood does 3% on everything. I'm one of those crazy maximizers with a drawer full of cards, and most purchases earn 5% or 6%.

The 3% is good, but you have to pay $5 a month, so equivalent $60 annual fee. They have late fees and cash advance fees. > most purchases earn 5% or 6% I assume thats using the high end cards with fairly hefty annual fees, or category cashback.

3% for $60 annual fee is not bad. AmEx has Blue Cash card with 6% back, but it costs $95 and only works for (some) grocery stores. So if you have a decent churn $60 is not bad. Of course, if you play these games you should never ever hold a balance or pay late (and using cash advance on credit card is always, always a bad idea!) so you can ignore those fees.

Re: Chase to become new issuer of Apple Card

#82

Post by noduerme »

dillon wrote: post #76
emilsayahi wrote: post #24

Earlier quoted context omitted.

Isn't this kind of card normal? The Fidelity card is basically the same (no fees, 2% cash back) but without any Apple-specific restrictions EDIT: The Fidelity card has late fees, I guess. Does the Apple one not? It shouldn't really affect you if you know what you're doing

Apple Card can also sometimes offer 3% like at Walgreens and you can also get 6 months of free Uber One. Another benefit of the Fidelity card is they reimburse your Global Entry or TSA pre check. It’s not a bad idea to have both cards because the Apple Card is 1% with the physical card so having the Fidelity card with you for places that don’t accept Apple Pay is a good idea.

Anyone who's ever had to pick up a prescription at a Walgreens will tell you that 3% doesn't begin to make up for the incredible shit you have to endure there. It's like being placed on hold indefinitely, only you have to keep standing in one spot while people sneeze on you, all while guys with backpacks come in and steal everything that isn't locked up. And if there's something you want like antacids or razor blades, it probably is locked up too, so spend another 15 minutes finding an extremely miserable employee to unlock those cabinets, then wait another hour in line to check out.

I remember visiting the Soviet Union as a kid and it's weird to watch Americans adopt the same passive, drained and resigned faces standing in lines at a Walgreens as Soviet citizens did waiting to cash bread tickets.

Re: Chase to become new issuer of Apple Card

#83

Post by smsm42 »

itake wrote: post #49
jerlam wrote: post #25

Earlier quoted context omitted.

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.

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.

Re: Chase to become new issuer of Apple Card

#84

Post by loeg »

lxgr wrote: post #58
jerlam wrote: post #25

Earlier quoted context omitted.

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.

The floor is 1.5%. I don’t know of any 2% card without any catch (the Apple Card’s being that you have to use Apple Pay, which is still not available at many online merchants).

Fidelity's 2% card has no real catch.

Re: Chase to become new issuer of Apple Card

#86

Post by cma »

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?

The fees go to the vendors. The vendors are allowed to accept cash for less money than the card+fees price, so there is still a fee.

Re: Chase to become new issuer of Apple Card

#87

Post by pandemic_region »

silisili wrote: post #62
nutjob2 wrote: post #46

Earlier quoted context omitted.

The 3% is good, but you have to pay $5 a month, so equivalent $60 annual fee. They have late fees and cash advance fees. > most purchases earn 5% or 6% I assume thats using the high end cards with fairly hefty annual fees, or category cashback.

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.

Re: Chase to become new issuer of Apple Card

#88

Post by StopDisinfo910 »

noduerme wrote: post #78
danpalmer wrote: post #39

Earlier quoted context omitted.

If you're in the US this sounds like a normal card. If you're in a lot of other places you won't have heard of it because it's not available and it sounds amazing because it wouldn't make any money in more regulated countries.

you mean it wouldn't make any money for the bank issuing the card? Is that because they can't charge merchants as much to accept it other countries?

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.

Re: Chase to become new issuer of Apple Card

#89

Post by smsm42 »

mullingitover wrote: post #28

The hilarious thing is the Apple card is a chunk of titanium and doesn’t have contactless payment capabilities in the year 2025. (Obviously their angle is you’ll use your phone or watch, which isn’t a huge stretch)

It is very hard to get any proper use of apple card without an iphone, so it's clearly designed for people buying into i-system wholesale. The titanium thing is more backup (for those dinosaurs still not accepting applepay) and a gimmick than anything else. You're not supposed to use it as the primary means of payment.

Re: Chase to become new issuer of Apple Card

#90

Post by internetter »

AndrewKemendo wrote: post #45
mullingitover wrote: post #28

The hilarious thing is the Apple card is a chunk of titanium and doesn’t have contactless payment capabilities in the year 2025. (Obviously their angle is you’ll use your phone or watch, which isn’t a huge stretch)

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

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