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Apple's Credit Card - Thread for spontaneous Q&A
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And.reg
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Mar 25, 2019, 04:38 PM
 
Will my official credit score go down if I don't have anything to pay on it, like with traditional credit cards?

Can I use it as a regular debit card, i.e., pay off a pack of bubble gum, same day, all in one transaction?

Can I merge Card with my other cards?

How do I transfer money that Apple puts onto my Card to, e.g., my checking account, or my other credit cards?
( Last edited by And.reg; Mar 25, 2019 at 05:40 PM. Reason: My questions are serious. Not joking.)
     
subego
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Mar 25, 2019, 04:49 PM
 
Is it HDR?
     
Doc HM
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Mar 25, 2019, 06:14 PM
 
Surely its a CreditCard (TM)

"Debt has never been funner" (also TM)
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subego
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Mar 25, 2019, 06:23 PM
 
Assuming they can pull this off, it’s kind of a genius idea, and it’ll throw the credit card market into all kinds of turmoil, which I approve of.

The first clause is key, though. Apple Maps still blows.
     
Spheric Harlot
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Mar 25, 2019, 07:03 PM
 
Goldman ****ing Sachs?
     
subego
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Mar 25, 2019, 07:38 PM
 
Originally Posted by Spheric Harlot View Post
Goldman ****ing Sachs?
To use an analogy, Goldman is cellular network backhaul. It’s building and maintaining the towers where they’re throwing themselves into the deep end.
     
mindwaves
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Mar 25, 2019, 09:07 PM
 
GS is the big anomaly here as this is their first foray into consumer financial services, so presumably they want to get their foot in the door and can offer lower fees than say JPMorgan Chase, Wells, etc.

I'm reasonably interested in the card, not the physical card though. Most places I use support Apple Pay. 2% cash back on everything is nice as well as the ability to get cash back the day pf purchase (?)

I often use my CapitalOne Venture card which offers 2% cash back on everything, to be used on travel expenses (Lyft, Uber, hotels, flights), but because you can redeem it multiple times and because I travel a lot, it is for all intents and purposes, a 2% cash back card for everything and the killer feature is as soon as the transaction posts (2 business day), I can redeem my travel expenses. This Apple Card seems to be able to do it the day of.
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mindwaves
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Mar 25, 2019, 09:56 PM
 
They are offering 13-24% interest rate on the card, which is a downer. Yes, I pay my bills off in full every month, but if it could have a 5% interest rate, I would think some people would genuinely use more and not pay their bills off in full because of the low rate and Apple/GS can earn more money off from those people.
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OreoCookie
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Mar 25, 2019, 10:27 PM
 
Originally Posted by mindwaves View Post
They are offering 13-24% interest rate on the card, which is a downer. Yes, I pay my bills off in full every month, but if it could have a 5% interest rate, I would think some people would genuinely use more and not pay their bills off in full because of the low rate and Apple/GS can earn more money off from those people.
What a bummer. That puts Apple's claims of having “low interest rates” squarely in the BS corner. While it seems Apple Card is more transparent and easier to pay off than other cards, I was hoping Apple would be more honest and instead just claim “competitive interest rates” or something along those lines.
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mindwaves
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Mar 25, 2019, 10:45 PM
 
All bills due on last of the month, so no need to remember the due date of your credit card. This is nice.

On privacy, this is what Apple has to say: "Even Apple doesn’t know what you bought. Or where. Or how much you paid....Of course, Goldman Sachs will use your data to operate Apple Card. But they will never share or sell your data to third parties for marketing or advertising."
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reader50
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Mar 25, 2019, 10:46 PM
 
CC interest rates have always looked like a ripoff to me. Even when the prime rate was approximately 0%, CCs never got down to 10%. At least, none that I saw.

Surely CC fraud & bankruptcies have not kept rates up for the last 50 years? I'm about 99% certain it's bank profit margins.
     
OreoCookie
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Mar 25, 2019, 10:51 PM
 
Originally Posted by reader50 View Post
CC interest rates have always looked like a ripoff to me. Even when the prime rate was approximately 0%, CCs never got down to 10%. At least, none that I saw.
Bingo. And I was hoping that Apple was really honest in its marketing and tried something more radical by offering much lower interest rates.
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turtle777
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Mar 26, 2019, 07:57 AM
 
Originally Posted by mindwaves View Post
They are offering 13-24% interest rate on the card, which is a downer. .
Ha.

All along, I wondered what the catch was. You have to pay the giant vampire squid.

-t
     
gorickey
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Mar 26, 2019, 09:15 AM
 
Am I the only one that wants the physical "Titanium" card, if for nothing else, a collectors item?
     
And.reg  (op)
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Mar 26, 2019, 10:26 AM
 
Originally Posted by gorickey View Post
Am I the only one that wants the physical "Titanium" card, if for nothing else, a collectors item?
Assuming that the card is really a titanium alloy, sure, it looks nice, sort of like how the titanium Powerbook G4s look nice... when they are not scratched up.
     
Spheric Harlot
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Mar 26, 2019, 11:12 AM
 
Originally Posted by And.reg View Post
Assuming that the card is really a titanium alloy, sure, it looks nice, sort of like how the titanium Powerbook G4s look nice... when they are not scratched up.
The tiBook was painted.
     
christ
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Mar 26, 2019, 11:42 AM
 
Originally Posted by gorickey View Post
Am I the only one that wants the physical "Titanium" card, if for nothing else, a collectors item?
Nope.
Chris. T.

"... in 6 months if WMD are found, I hope all clear-thinking people who opposed the war will say "You're right, we were wrong -- good job". Similarly, if after 6 months no WMD are found, people who supported the war should say the same thing -- and move to impeach Mr. Bush." - moki, 04/16/03
     
mindwaves
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Mar 26, 2019, 09:11 PM
 
No interest for the physical card itself. I never look at someone's card when paying and if I happen to take a glance, I really don't care. The only place where I take out my card is at Walmart and the gas station.
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OreoCookie
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Mar 26, 2019, 10:47 PM
 
Originally Posted by gorickey View Post
Am I the only one that wants the physical "Titanium" card, if for nothing else, a collectors item?
Absolutely.
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And.reg  (op)
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Mar 27, 2019, 10:04 AM
 
Hey guys, just heard back from Apple’s design team... it looks like they’re going to do something truly innovative with the physical card.

It’s going to come out in three colors:

Space gray, gold, and titanium

Jon Ive: “The most beautiful Cards we’ve ever created.”

     
gorickey
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Mar 30, 2019, 10:35 AM
 
Originally Posted by And.reg View Post
Hey guys, just heard back from Apple’s design team... it looks like they’re going to do something truly innovative with the physical card.

It’s going to come out in three colors:

Space gray, gold, and titanium

Jon Ive: “The most beautiful Cards we’ve ever created.”

Ive has gone into great detail on the chamfered edges of the new Apple Card.
     
Doc HM
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Mar 31, 2019, 08:07 AM
 
The card is so finely made that simply holding it in your hands will sever your fingers.

"You're holding it wrong"
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Thorzdad
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Apr 7, 2019, 06:25 AM
 
— THERE IS NO GRAVITY —
(the earth sucks)——-—
     
   
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