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I hope the Apple Card is a huge success. There will be a fight to win customers and there will be better rewards from competitors. I will be waiting for those.

cooperaustinj 7y ago
Competitors already have better rewards. The Apple Card will have no impact on the world of credit cards.
- briandear 7y ago
  Apple Card has no fees at all. Not even a late fee. And privacy is far ahead of competitors. Competitors sell your purchase history everywhere. You also get the virtual numbers, you can change your number any time you want and customer support is via iMessage without the nonsense of the "Press 1 for your balance" phone systems common for more credit cards. It also comes down to trusting Capital One etc. with your data, vs. trusting Apple.
  - lawnchair_larry 7y ago
    Not quite - the issuer is not Apple, but Goldman Sachs. So it’s about trusting Goldman Sachs and Apple and Mastercard with your data, vs trusting Capital One.
    - TazeTSchnitzel 7y ago
      You mean Capital One and Mastercard?
  - sgjohnson 7y ago
    Not having a late fee doesn’t matter. Most people in the game for rewards have good credit. And you can’t have good credit with missed/late repayments. Doesn’t matter if you get charged a fee on it or not — not having a late repayment likely matters to you more than the fee you’d be charged for having one. Then again, judging by FICO scores that are okay for the Apple Card, it’s a entry-level card anyway.
- pwinnski 7y ago
  People keep saying this, but so far the only one I've seen mentioned is BofA when you have $100k on deposit, and even that one I haven't seen linked. Similar rewards, sure. Citi's Double Cash matches this everywhere except an Apple Store. Better? I'm sure you're right, but I'd like to see links to offers with better rewards. Please.
mrweasel 7y ago
The whole reward concept is pretty alien to many of us. It's not something people know or care about in some countries. I worked to a ecommerce site that entered a new market, after a few weeks a customer called and asked if we couldn't register with MasterCard as an electronic store, so he could get some reward when he shopped at our site. No one had any idea what the customer was talking about, because the reward system isn't really known here. The rewards may be good for countries like the US, but Apple needs something else for other markeds. More specifically I think they need to be a bank and offer debit cards. Most people in Denmark have debit cards and very few have experience in having to "pay off credit cards". No late fees are irrelevant if all you even known is debit cards.
- ceejayoz 7y ago
  Not surprising. The EU capped interchange fees at 0.3% for credit cards back in 2015. You can't really run a rewards card with that cap in place. (For comparison, it's roughly 10x that in the US for the higher-end rewards cards.)
astura 7y ago
The Apple Card rewards are not competitive with current offerings on the market. Unless you're spending many thousands of dollars at the Apple Store every year you're much better off rewards-wise with a different product.
- empath75 7y ago
  You can say this about pretty much every apple product if all you do is look at numbers.
  - saltminer 7y ago
    What are we supposed to be looking at if not numbers with regards to "better rewards" like yalogin was talking about?
    - empath75 7y ago
      The overall experience of using the card, which includes everything from the way the card itself looks and feels to the UX of the iphone app, and customer service. A lot of what differentiates apple are intangibles that aren't captured by raw specs. It's like trying to rate a glass of wine based on it's chemical composition. But sure, if the overall experience isn't improved over those other cards, the numbers will matter.
- pwinnski 7y ago
  People keep saying this, but not providing links. Where exactly are the current offerings with which Apple Card is not competitive?
  - astura 7y ago
    If you want a single no frills everyday card then the following provide 2% cash back everywhere with no annual fee: Fidelity Visa, PayPal MasterCard, Citi DoubleCash. PayPal MasterCard has no foreign transaction fee and the Fidelity Visa earns 1% overseas due to the 1% foreign transaction fee. If you want to maximize cash back based on the categories you spend in most, then you have tons of options depending on your biggest spending categories. The only way the Apple card comes out ahead in this area is if most of your spending is at the Apple store/app store. For an average-ish young person pairing any of the straight 2% cards mentioned above with the Uber Visa card is a great combo - Uber Visa is 4% cash back on dining and 3% cash back on travel, no annual fee, no foreign transaction fee. It's worth mentioning that petty much all of BoA's offerings are extremely good if you have >$100,000 will Merrill Edge. IRAs count and you get a bunch of free trades. Here's someone else's opinion: https://www.doctorofcredit.com/four-better-alternatives-to-the-new-apple-credit-card/ https://www.doctorofcredit.com/four-better-alternatives-to-t... I've been churning credit cards for years, I currently have ~20 credit cards.

cooperaustinj 7y ago

Competitors already have better rewards. The Apple Card will have no impact on the world of credit cards.

briandear 7y ago
Apple Card has no fees at all. Not even a late fee. And privacy is far ahead of competitors. Competitors sell your purchase history everywhere. You also get the virtual numbers, you can change your number any time you want and customer support is via iMessage without the nonsense of the "Press 1 for your balance" phone systems common for more credit cards. It also comes down to trusting Capital One etc. with your data, vs. trusting Apple.
- lawnchair_larry 7y ago
  Not quite - the issuer is not Apple, but Goldman Sachs. So it’s about trusting Goldman Sachs and Apple and Mastercard with your data, vs trusting Capital One.
  - TazeTSchnitzel 7y ago
    You mean Capital One and Mastercard?
- sgjohnson 7y ago
  Not having a late fee doesn’t matter. Most people in the game for rewards have good credit. And you can’t have good credit with missed/late repayments. Doesn’t matter if you get charged a fee on it or not — not having a late repayment likely matters to you more than the fee you’d be charged for having one. Then again, judging by FICO scores that are okay for the Apple Card, it’s a entry-level card anyway.
pwinnski 7y ago
People keep saying this, but so far the only one I've seen mentioned is BofA when you have $100k on deposit, and even that one I haven't seen linked. Similar rewards, sure. Citi's Double Cash matches this everywhere except an Apple Store. Better? I'm sure you're right, but I'd like to see links to offers with better rewards. Please.

mrweasel 7y ago

The whole reward concept is pretty alien to many of us. It's not something people know or care about in some countries. I worked to a ecommerce site that entered a new market, after a few weeks a customer called and asked if we couldn't register with MasterCard as an electronic store, so he could get some reward when he shopped at our site. No one had any idea what the customer was talking about, because the reward system isn't really known here. The rewards may be good for countries like the US, but Apple needs something else for other markeds. More specifically I think they need to be a bank and offer debit cards. Most people in Denmark have debit cards and very few have experience in having to "pay off credit cards". No late fees are irrelevant if all you even known is debit cards.

ceejayoz 7y ago
Not surprising. The EU capped interchange fees at 0.3% for credit cards back in 2015. You can't really run a rewards card with that cap in place. (For comparison, it's roughly 10x that in the US for the higher-end rewards cards.)

astura 7y ago

The Apple Card rewards are not competitive with current offerings on the market. Unless you're spending many thousands of dollars at the Apple Store every year you're much better off rewards-wise with a different product.

empath75 7y ago
You can say this about pretty much every apple product if all you do is look at numbers.
- saltminer 7y ago
  What are we supposed to be looking at if not numbers with regards to "better rewards" like yalogin was talking about?
  - empath75 7y ago
    The overall experience of using the card, which includes everything from the way the card itself looks and feels to the UX of the iphone app, and customer service. A lot of what differentiates apple are intangibles that aren't captured by raw specs. It's like trying to rate a glass of wine based on it's chemical composition. But sure, if the overall experience isn't improved over those other cards, the numbers will matter.
pwinnski 7y ago
People keep saying this, but not providing links. Where exactly are the current offerings with which Apple Card is not competitive?
- astura 7y ago
  If you want a single no frills everyday card then the following provide 2% cash back everywhere with no annual fee: Fidelity Visa, PayPal MasterCard, Citi DoubleCash. PayPal MasterCard has no foreign transaction fee and the Fidelity Visa earns 1% overseas due to the 1% foreign transaction fee. If you want to maximize cash back based on the categories you spend in most, then you have tons of options depending on your biggest spending categories. The only way the Apple card comes out ahead in this area is if most of your spending is at the Apple store/app store. For an average-ish young person pairing any of the straight 2% cards mentioned above with the Uber Visa card is a great combo - Uber Visa is 4% cash back on dining and 3% cash back on travel, no annual fee, no foreign transaction fee. It's worth mentioning that petty much all of BoA's offerings are extremely good if you have >$100,000 will Merrill Edge. IRAs count and you get a bunch of free trades. Here's someone else's opinion: https://www.doctorofcredit.com/four-better-alternatives-to-the-new-apple-credit-card/ https://www.doctorofcredit.com/four-better-alternatives-to-t... I've been churning credit cards for years, I currently have ~20 credit cards.