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Apple's Credit Card - Thread for spontaneous Q&A
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Ham Sandwich
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(
Last edited by Ham Sandwich; Apr 23, 2020 at 10:17 AM.
Reason: My questions are serious. Not joking.)
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Clinically Insane
Join Date: Jun 2001
Location: Chicago, Bang! Bang!
Status:
Online
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Professional Poster
Join Date: Oct 2008
Location: UKland
Status:
Offline
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Surely its a CreditCard (TM)
"Debt has never been funner" (also TM)
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This space for Hire! Reasonable rates. Reach an audience of literally dozens!
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Clinically Insane
Join Date: Jun 2001
Location: Chicago, Bang! Bang!
Status:
Online
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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.
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Clinically Insane
Join Date: Nov 1999
Location: 888500128, C3, 2nd soft.
Status:
Offline
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Clinically Insane
Join Date: Jun 2001
Location: Chicago, Bang! Bang!
Status:
Online
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Originally Posted by Spheric Harlot
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.
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Registered User
Join Date: Sep 2000
Location: Irvine, CA
Status:
Offline
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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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Registered User
Join Date: Sep 2000
Location: Irvine, CA
Status:
Offline
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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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Moderator
Join Date: May 2001
Location: Hilbert space
Status:
Offline
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Originally Posted by mindwaves
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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I don't suffer from insanity, I enjoy every minute of it.
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Registered User
Join Date: Sep 2000
Location: Irvine, CA
Status:
Offline
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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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Administrator
Join Date: Jun 2000
Location: California
Status:
Offline
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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.
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Moderator
Join Date: May 2001
Location: Hilbert space
Status:
Offline
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Originally Posted by reader50
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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I don't suffer from insanity, I enjoy every minute of it.
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Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status:
Offline
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Originally Posted by mindwaves
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
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Posting Junkie
Join Date: Nov 2001
Location: Retired.
Status:
Offline
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Am I the only one that wants the physical "Titanium" card, if for nothing else, a collectors item?
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Ham Sandwich
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(
Last edited by Ham Sandwich; Apr 23, 2020 at 10:17 AM.
)
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Clinically Insane
Join Date: Nov 1999
Location: 888500128, C3, 2nd soft.
Status:
Offline
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Originally Posted by And.reg
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.
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Professional Poster
Join Date: Mar 2001
Location: Gosport
Status:
Offline
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Originally Posted by gorickey
Am I the only one that wants the physical "Titanium" card, if for nothing else, a collectors item?
Nope.
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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
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Registered User
Join Date: Sep 2000
Location: Irvine, CA
Status:
Offline
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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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Moderator
Join Date: May 2001
Location: Hilbert space
Status:
Offline
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Originally Posted by gorickey
Am I the only one that wants the physical "Titanium" card, if for nothing else, a collectors item?
Absolutely.
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I don't suffer from insanity, I enjoy every minute of it.
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Ham Sandwich
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(
Last edited by Ham Sandwich; Apr 23, 2020 at 10:17 AM.
)
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Posting Junkie
Join Date: Nov 2001
Location: Retired.
Status:
Offline
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Originally Posted by And.reg
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.
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Professional Poster
Join Date: Oct 2008
Location: UKland
Status:
Offline
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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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This space for Hire! Reasonable rates. Reach an audience of literally dozens!
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Moderator
Join Date: Aug 2001
Location: Nobletucky
Status:
Offline
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