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Apple has a credit card already, in partnership with Barclaycard. https://www.apple.com/shop/browse/financing https://www.apple.com/shop/browse/financing Edit

Apple has a credit card already, in partnership with Barclaycard. https://www.apple.com/shop/browse/financing https://www.apple.com/shop/browse/financing Edit: previous discussion from the last time this was “news”: https://news.ycombinator.com/item?id=17040266 https://news.ycombinator.com/item?id=17040266

heavymark 8y ago
That is simply a partnership where instead of cash back you get apple gift cards at rewards. So it's not rather notable Apple wise, since most cards you can redeem for Apple gift cards. Last year it was announced Apple is ending that card relationship and switching to Goldman. At that time it sounded like Goldman partnership would be similar but today's rumors suggest it maybe an actual Apple Branded credit card that is fully integrated into iOS which would be amazing. But of course there are so few details that it's hard to judge, but certainly interesting none the less to see what Apple could do in the credit card space.
- delfinom 8y ago
  What a perfect way to encourage consumers to go further into debt for items they don't need.
- obmelvin 8y ago
  Can you expand on how that is amazing? Maybe I'm just tired, but I don't see how it's any better than existing mobile payment options just because of some partnership. I can already hold my phone up to a compatible POS device and pay with my chase card.
  - notduncansmith 8y ago
    For starters, Apple’s commitment to privacy makes me feel way better about them having my purchase data and being able to add value alongside my other personal data: potentially less opportunity for fraud, better offers, better purchase insights, etc. Maybe not “amazing”, but I can see some ways it could be quite nice compared to alternatives.
    - PaulHoule 8y ago
      There is a psychology here that just might work.
    - ed312 8y ago
      Generally I feel safer with Apple owning my phone data... but once you accumulate enough data in one company, the incentives for corruption and mis-use are too great. Let's not let more companies become "too big to fail" or "regulatory capture is a cost of doing business".
    - 0xffff2 8y ago
      Wouldn't Goldman be the one holding your purchase data?
      - obmelvin 8y ago
        I would imagine they will have access to your purchase data, otherwise what is the point for Goldman? And you can bet they will be using that data for all sorts of investments. Similarly to how location data is used for all sorts of gain by large companies [1,2]. [1] https://www.wsj.com/articles/your-smartphones-location-data-is-worth-big-money-to-wall-street-1541131260 https://www.wsj.com/articles/your-smartphones-location-data-... [2] https://www.nytimes.com/interactive/2018/12/10/business/location-data-privacy-apps.html https://www.nytimes.com/interactive/2018/12/10/business/loca...
    - webmobdev 8y ago
      > Apple’s commitment to privacy makes me feel way better about them having my purchase data ... Sure. The thing is, how long do you think this "commitment" is going to last? I trusted Google in the early days and got burned when I realized how invasive and intrusive they had become, and were totally unapologetic about it. I do not see why Apple - a trillion dollar multi-national corporate - will be any different. In fact, they already have a lot of data on you, especially if you use iCloud. And Apple has already started becoming intrusive under the guise of protecting our privacy - e.g. "Oh we are going to block all multi-site pervasive tracking on Safari - to protect your privacy! But ofcourse, first we need to know what and all sites sets these cookies on your device ... and so we can't let you control your cookies. But don't worry, everything will be anonymized ..." or how IOS 12+ now deliberately makes it even more difficult to find the "Restrictions" setting panel that gives you fine grained control over allowing or restricting access to cameras, microphones, contacts etc. (it's now under - Settings > Screen Time and tap Content & Privacy Restrictions) or how ios 12+ "Screen Time" is designed to collect information on everything you do on your iDevice (even other iDevices and sync all that info through iCloud) ... And so on ... so let's not kid ourselves that a for-profit CORPORATE is our best bet in protecting OUR privacy - they want you to believe that so that we don't use our collective will to pressurize our democratic government to make privacy enhancing laws and regulate companies that insist on collecting our data. (On a related note, other governments have begun to recognize that defending their citizen's right can protect their country's interest and sovereignty. That is why EU has been tightening their laws. And this - https://www.neowin.net/news/microsoft-has-been-sharing-indian-bank-customers039-data-with-us-intelligence-agencies https://www.neowin.net/news/microsoft-has-been-sharing-india... - explains why India, for example, is now insisting that US companies store their data in India).
nobleach 8y ago
I think that's the highest interest rate I've ever had on a credit card. I applied for financing on my brand new 2005 MacBook Core 2 Duo. I made the minimum payment on it every month and ended up paying nearly twice the cost! (this was totally my choice - no fault of Apple or Juniper Visa/Barclay)
- Waterluvian 8y ago
  Worth it or regret it?
  - jammi 8y ago
    Probably worth it, since he got a MacBook Pro a year earlier than everyone else. For the rest of us, the MacBook Pros (started as the short-lived Core Duo models) weren't available until spring 2006. The Core 2 Duo models didn't exist until late 2006.
    - nobleach 8y ago
      Then I most likely have the timeframe wrong. It was RIGHT when the Core 2 Duo came out. It was just the MacBook though... not a Pro. November 2006 sound right?
  - nobleach 8y ago
    Well... I gave it to a child who subsequently tore the keys off of it. Overall, it was mostly okay. Superdrive rarely worked (it'd just eject discs randomly - started happening day 2) Logic board went in the first year. It was replaced by Apple, but I lost everything on the HD. HD went on year 4... I replaced it with an SSD. That lasted right up until the child incident. Who knows, perhaps I could still get it to boot. It was a fun machine to work with.
- bluedino 8y ago
  I remember me and all my friends buying Macs on credit from MacMall. They would approve us while Apple wouldn't, we were only like 20 so we didn't have much credit history. $3500 Mac (the most we could get approved for) with 20%+ rates, some of us were paying those thigns until 6-7 years later! I learned at this point to never buy new if you didn't have to, and never buy a $3500 item if you couldn't use it to make money, and not just as a toy!

heavymark 8y ago

That is simply a partnership where instead of cash back you get apple gift cards at rewards. So it's not rather notable Apple wise, since most cards you can redeem for Apple gift cards. Last year it was announced Apple is ending that card relationship and switching to Goldman. At that time it sounded like Goldman partnership would be similar but today's rumors suggest it maybe an actual Apple Branded credit card that is fully integrated into iOS which would be amazing. But of course there are so few details that it's hard to judge, but certainly interesting none the less to see what Apple could do in the credit card space.

delfinom 8y ago
What a perfect way to encourage consumers to go further into debt for items they don't need.
obmelvin 8y ago
Can you expand on how that is amazing? Maybe I'm just tired, but I don't see how it's any better than existing mobile payment options just because of some partnership. I can already hold my phone up to a compatible POS device and pay with my chase card.
- notduncansmith 8y ago
  For starters, Apple’s commitment to privacy makes me feel way better about them having my purchase data and being able to add value alongside my other personal data: potentially less opportunity for fraud, better offers, better purchase insights, etc. Maybe not “amazing”, but I can see some ways it could be quite nice compared to alternatives.
  - PaulHoule 8y ago
    There is a psychology here that just might work.
  - ed312 8y ago
    Generally I feel safer with Apple owning my phone data... but once you accumulate enough data in one company, the incentives for corruption and mis-use are too great. Let's not let more companies become "too big to fail" or "regulatory capture is a cost of doing business".
  - 0xffff2 8y ago
    Wouldn't Goldman be the one holding your purchase data?
    - obmelvin 8y ago
      I would imagine they will have access to your purchase data, otherwise what is the point for Goldman? And you can bet they will be using that data for all sorts of investments. Similarly to how location data is used for all sorts of gain by large companies [1,2]. [1] https://www.wsj.com/articles/your-smartphones-location-data-is-worth-big-money-to-wall-street-1541131260 https://www.wsj.com/articles/your-smartphones-location-data-... [2] https://www.nytimes.com/interactive/2018/12/10/business/location-data-privacy-apps.html https://www.nytimes.com/interactive/2018/12/10/business/loca...
  - webmobdev 8y ago
    > Apple’s commitment to privacy makes me feel way better about them having my purchase data ... Sure. The thing is, how long do you think this "commitment" is going to last? I trusted Google in the early days and got burned when I realized how invasive and intrusive they had become, and were totally unapologetic about it. I do not see why Apple - a trillion dollar multi-national corporate - will be any different. In fact, they already have a lot of data on you, especially if you use iCloud. And Apple has already started becoming intrusive under the guise of protecting our privacy - e.g. "Oh we are going to block all multi-site pervasive tracking on Safari - to protect your privacy! But ofcourse, first we need to know what and all sites sets these cookies on your device ... and so we can't let you control your cookies. But don't worry, everything will be anonymized ..." or how IOS 12+ now deliberately makes it even more difficult to find the "Restrictions" setting panel that gives you fine grained control over allowing or restricting access to cameras, microphones, contacts etc. (it's now under - Settings > Screen Time and tap Content & Privacy Restrictions) or how ios 12+ "Screen Time" is designed to collect information on everything you do on your iDevice (even other iDevices and sync all that info through iCloud) ... And so on ... so let's not kid ourselves that a for-profit CORPORATE is our best bet in protecting OUR privacy - they want you to believe that so that we don't use our collective will to pressurize our democratic government to make privacy enhancing laws and regulate companies that insist on collecting our data. (On a related note, other governments have begun to recognize that defending their citizen's right can protect their country's interest and sovereignty. That is why EU has been tightening their laws. And this - https://www.neowin.net/news/microsoft-has-been-sharing-indian-bank-customers039-data-with-us-intelligence-agencies https://www.neowin.net/news/microsoft-has-been-sharing-india... - explains why India, for example, is now insisting that US companies store their data in India).

nobleach 8y ago

I think that's the highest interest rate I've ever had on a credit card. I applied for financing on my brand new 2005 MacBook Core 2 Duo. I made the minimum payment on it every month and ended up paying nearly twice the cost! (this was totally my choice - no fault of Apple or Juniper Visa/Barclay)

Waterluvian 8y ago
Worth it or regret it?
- jammi 8y ago
  Probably worth it, since he got a MacBook Pro a year earlier than everyone else. For the rest of us, the MacBook Pros (started as the short-lived Core Duo models) weren't available until spring 2006. The Core 2 Duo models didn't exist until late 2006.
  - nobleach 8y ago
    Then I most likely have the timeframe wrong. It was RIGHT when the Core 2 Duo came out. It was just the MacBook though... not a Pro. November 2006 sound right?
- nobleach 8y ago
  Well... I gave it to a child who subsequently tore the keys off of it. Overall, it was mostly okay. Superdrive rarely worked (it'd just eject discs randomly - started happening day 2) Logic board went in the first year. It was replaced by Apple, but I lost everything on the HD. HD went on year 4... I replaced it with an SSD. That lasted right up until the child incident. Who knows, perhaps I could still get it to boot. It was a fun machine to work with.
bluedino 8y ago
I remember me and all my friends buying Macs on credit from MacMall. They would approve us while Apple wouldn't, we were only like 20 so we didn't have much credit history. $3500 Mac (the most we could get approved for) with 20%+ rates, some of us were paying those thigns until 6-7 years later! I learned at this point to never buy new if you didn't have to, and never buy a $3500 item if you couldn't use it to make money, and not just as a toy!