Apple Card is built into the Apple Wallet app on iPhone, offering customers a familiar experience with Apple Pay and the ability to manage their card right on iPhone.
@kunalslab Anyone else sick of the amount of time it takes the chip to be read and approved? Some places seem to take much longer on average than others too. Duane Reade = 20 sec. Chipotle = 5 sec.
@kunalslab@coconidodev maybe the secondary device is an iPad? ;) seriously though, I personally really like Apple devices but I wouldn’t want one as my main driver.
@coconidodev@anna_0x precisely! iPad and a MacBook. I use an Android phone (coincidentally also titanium) as my primary device to stay ambidextrous with my OS design knowledge.
I feel like Apple made this very appealing and oversold some aspects
- 2% cash back. Amazing. Larger than almost any card out there. Points that most other cards use is a confusing conversion rate you need to deal with that typically doesn't work out as good as it sounds.
- No late fees. Correct. But they still charge 13% - 25% APR. Lots of people are going to get confused here.
- Titanium. It feels good tossing down a heavy, metal card when you're paying your bill. AmEx Black proved this. It's going to make people more likely to throw down their Apple card vs using another or paying cash.
- Security and customer service: This is likely going to force a lot of other CC companies to up their game in terms of dealing with issues. Today if you have a problem being improperly charged by an App, they refund your money and take it up with the developer. Is that how it will work with payment vendors? Will become very abused, if so.
It's interesting to see how this ended up being the product everyone is excited about, instead of News+ and TV+. Maybe a Space Grey Apple Card Pro with travel benefits could be in the works?
It says no card numbers on the card. Assume I'll be able to see the card number somewhere? For scenarios like non ApplyPay ready online retailers like Amazon.
Good move for Goldman Sachs in consumer banking.
It'll be interesting to see how other credit cards responds, though the 1% isn't that competitive to use this as an everyday card. Compared to Chase and Citi and more, which have cash back at 1.5% and 2%.
@nehayward 2% for Apple Pay though – depending on where you're living, that sounds decent. Wish this was going to be available outside the US at launch though
24% APR.That's 2x the industry standard. That wasn't exactly advertised today, but it's important to understand before getting it. In any case, pretty cool developments all around today.
Just out of curiosity, are many credit card issuers giving away cash backs in the US? How attractive Apple Card will depends on the country where they are rolling out, although they have yet announced any plans outside the US.
If you are already tied to apple environment and is used to having great service with less flexibility, this card will be awesome... and if I were such person I would get it. But if you like freedom and have not yet surrendered your life to the apple ecosystem (is just a matter of time), then there are other options... Citi Double cash comes to mind (2% cash back), amazon prime card (5%, 2%, 1%), google pay where you can manage all your cards, and privacy.com where you can create N amount of virtual cards. Ignore the hype, get what makes sense to you. A card won't change your life, in fact if you don't pay your card in full each month, it's likely that all the money you get back (2%) just goes right back to them.
The design breaks with the credit card design as we know it nowadays both in looks and how it works. Moreover its looks are cool and it’s the first free Apple hardware product (Ever?). What else can you ask for from Apple? Yeah, that they start giving free iPhones XS... but I wouldn’t bank on it happening anytime soon.
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Join a credit union that supports Apple Pay instead.
Pros:No selling of transaction data
Cons:Backed by Goldman Sachs, which has an extensive history of unethical practices
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Another example of last mover advantage from Apple
Pros:First time a credit card doesn't want to mine your purchases and data
Cons:People will always find a reason to hate on Apple