Apple Card

[tulak]

Apple announced their own credit card, called "Apple Card." It's backed by Mastercard, built around the iPhone/Watch. It looks like you get a physical card too, but I have no idea how well that will work without an iPhone. It also looks like it has no number?

2% cash back, paid out daily, with Apple Pay.
3% for Apple products and services.
1% cash back when you use the physical card.

No intl. fees or any other fees. With full privacy, which seems to be a selling point for Apple lately. Since I use Apple products, I'll probably give it a shot. It could be a good alternative to my Fidelity card, especially for international travel.

My only question is if I can download transactions to Moneydance.

Once I find a link, I'll add it to the thread.

 

[braumeister]

Sounds very promising. I like Apple Pay a lot because it's probably the most secure payment method available anywhere. Thanks for the tip; I'll look into it.

 

[tulak]

Here’s a link on Apple’s webpage describing the card: https://www.apple.com/apple-card/

For the physical card:

A titanium, laser‑etched, Apple‑designed credit card. And Mastercard is our global payment network, so you can use it all over the world. For apps and websites, there’s a virtual card number in the Wallet app. It autofills for you when you’re using Safari.

The physical card only has a chip. I’m curious to know if it requires or uses a PIN and if it’s a true chip and pin card. If so, then this could be a replacement for the FirstTech CC.

 

[GalaxyBoy]

It also looks like it has no number?

It was stated in the keynote address that the card number and security code will be in the app, but not printed on the physical card.

With no fees and 2% back on Apple pay transactions I see no reason not to get one when it comes out this summer.

 

[braumeister]

The physical card only has a chip. I’m curious to know if it requires or uses a PIN and if it’s a true chip and pin card. If so, then this could be a replacement for the FirstTech CC.

An excellent point. Of course if you're using Apple Pay there's no need for a PIN, and Apple Pay does seem to be steadily expanding its reach.

 

[davebarnes]

Negatives, for me.
1. Another metallic card to set off the metal detectors at the airport.
2. No mileage reward. I am totally focused on flying business class on the cheaper (I wish it was cheap).

P.S. I found this amusing https://www.linkedin.com/in/marisa-robertson-208a1811/

 

[Jerry1]

I’m wondering if it will handle recurring transactions, as in paying my bills through the card in order to get my points on those. That’s a big generator of points for me on my Fidelity card.

 

[steelyman]

This doesn’t seem to fall in the category of other Apple rollouts of products that “you didn’t know you needed”. But I’m an Apple fan and user so I hope it works out well for them.

 

[Chuckanut]

I need 2.5% or more to get me away from my current 2% card.

 

[ASung90s]

Sadly, I think a lot of people will sign up because of the 2% cash-back is paid DAILY.

There are a lot of people who use credit when they shouldn't and the rapidity with which they receive cash-back is going to send them into a feedback loop of bad behavior.

 

[Aerides]

Sadly, I think a lot of people will sign up because of the 2% cash-back is paid DAILY.

There are a lot of people who use credit when they shouldn't and the rapidity with which they receive cash-back is going to send them into a feedback loop of bad behavior.

I mean I guess, but what, people are going to rush out and spend $1000 to get a quick $20 in their bank account?

 

[GTFan]

With no fees and 2% back on Apple pay transactions I see no reason not to get one when it comes out this summer.

Every Android user has a reason not to get one.

 

[OldShooter]

"titanium, laser‑etched, Apple‑designed" P.T. Barnum would approve. zzzzz....

 

[audreyh1]

DH will get it with me as secondary. 3% rewards from Apple is worth it to us.

No expiration - nice!

Don’t really care about daily cash back.

Goldman Sachs is the issuer.

 

[tulak]

I need 2.5% or more to get me away from my current 2% card.

I agree, mostly. It’s only 2% if you use Apple Pay, which use often, but it’s not accepted everywhere.

I think the biggest benefit is the potential to use this as a travel card. In some countries, Apple Pay is a lot more common. With no international fees and 2% back, that’s a decent deal. Unless you’re going for points, at which point, Chase Sapphire or Citi Costco is a better deal. And as I mentioned earlier, if this a true chip and pin card, then that’s even better.

Plus, you get a 3% discount for Apple products. Probably doesn’t help me much for services (I stock up on discounted gift cards), but that’s a nice bonus for any hardware purchases.

So overall, I’d rate this card as ok. It’s good for some uses, but it’s not a full replacement for other credit cards.

 

[audreyh1]

More and more places are accepting ApplePay.

 

[braumeister]

More and more places are accepting ApplePay.

Especially in Europe. I used it for probably 80% of my purchases last trip.

 

[Clone]

Can I use the iApple card to buy iTunes cards so that i can pay off the iRs to keep from getting throne iNto the iJail?

 

[audreyh1]

Especially in Europe. I used it for probably 80% of my purchases last trip.

Interesting. I’ll have to look more carefully for that option in Europe. I’ve used it very little in Europe, even though it is supposedly well accepted.

In the US ApplePay introduction was stymied by the CurrentC effort which ultimately went nowhere, but consortium members were required to not accept competing pay schemes for 2 years.

 

[braumeister]

If you see this symbol, there is a high probability you can use Apple Pay.

 

[Alan]

If you see this symbol, there is a high probability you can use Apple Pay.

View attachment 31071

Exactly. Just about everywhere in the UK uses ApplePay.

I hope AppleCard is available the UK when we get back there in a few days.

 

[Chuckanut]

Especially in Europe. I used it for probably 80% of my purchases last trip.

Thanks. Given the problems of getting and carrying cash around, I guess I may try to use it more in Europe on my next trip.

 

[audreyh1]

If you see this symbol, there is a high probability you can use Apple Pay.

View attachment 31071

Yeah, thanks. I kind of knew that, but I haven’t been aggressive in trying.

The Netherlands has not accepted ApplePay. They already had a credit system set up, now contactless, and retailers pay super low fees. So they don’t want the more expensive ApplePay. Negotiations continue.

 

[Midpack]

Sounds interesting. And since we're probably going to let our CostCo Visa card (and membership) lapse, maybe the Apple card will replace it.

Of course I should probably try Apple Pay first...

 

[audreyh1]

Exactly. Just about everywhere in the UK uses ApplePay.

I hope AppleCard is available the UK when we get back there in a few days.

Well it’s not available in the US until this summer.