6 ms·

1% back using the card? I make few purchases with less than 3%. In terms of security, I've had my card cloned. Within minutes the bank locked the account and

1% back using the card? I make few purchases with less than 3%. In terms of security, I've had my card cloned. Within minutes the bank locked the account and had a new card shipped. Hardly a big pain point they are solving. And most of us have more than one, so if any of our cards are down, we have others. It's merchants that currently carry the cost of low quality financial instrument standards we have. For privacy, if I valued it over the $x,xxx I get back every year in the form of cash back, free insurance on rentals, etc, I'd use the most private of all instruments.... Cash. Pretty mediocre card if you ask me. Of course, the cool factor will make this a success. They only need the right % of the cool crowd to move in on it, and the rest will follow the virality. Oh us humans.

mataug 7y ago
>For privacy, if I valued it over the $x,xxx I get back every year in the form of cash back, free insurance on rentals, etc, I'd use the most private of all instruments.... Cash. My guess is that Apple is trying to provide a middle ground between fully private instruments such as cash, with convenience of a credit card. Its much more privacy focused than your average credit card, while offering the same convenience. The price you pay for the extra privacy is the lack luster rewards.
- 4ntonius8lock 7y ago
  My guess is they are trying to appeal to that group... as an aside to the main cool factor. Look at the presentation of the card and the offering. When the presentation is more competitive than the offering, you know they are trying to sell you $10 bars of chocolate. Very cool. Not the best.
Brendinooo 7y ago
How are you doing 3%? Rolling rewards? Doesn't seem like there are a lot of 3% cards out there without an annual fee or a set of conditions to try and fulfill. 2% on all Apple Pay purchases is pretty straightforward.
- electic 7y ago
  Not to mention the 2% and 3% cash back are for certain categories and there are limits to how much you can get back in a given year with other cards. For example, most cards will allow you to get a 2% cash back up to $6,000 per year. I have yet to find a card that has unlimited 2% cash back on ALL purchases. Apple Card is unlimited 2% back, no category restrictions, as long as you use Apple Pay. That's quite a deal.
  - huy-nguyen 7y ago
    Citi double cash gives a flat 2% back for any purchase.
    - xivzgrev 7y ago
      I had double cash until someone skimmed my card and citi didn’t notice. I had to catch it, make a complaint, then sign bullshit forms asking if the following name was mine. It just stumped me how they didn’t catch it - there were purchases being made in different geographies on the same day as I was making purchases elsewhere. I lost total confidence in citi as a trustworthy company after that. Capital one is way more proactive on catching fraud, so I use their 1.5% quicksilver. Several times they have asked me about potentially fraud purchases. Totally worth it for peace of mind. I realize that I’m not liable for fraud credit card purchases but it’s still a stressful hassle to catch fraud yourself, challenge purchases, go through the motions and eventually get them dropped months later. Barclays I use for dining out and travel, have yet to see how they are.
    - reaperducer 7y ago
      Maybe you have a different Citi card than I do, but there's a cap on the 2% with mine. Also, there's a bunch of fees that the Apple Card doesn't have. I don't know any big bank card that doesn't have late payment or over limit fees, for example.
    - electic 7y ago
      The way the Citi Double Cash Card works is you get 1% for every dollar spent and 1% for every dollar paid. - It is actually 1.98% because when you apply it to a statement credit you are not really paying off the full total. You get a straight 2% back, daily, with Apple Card. - There is also a redemption minimum with Citi, in this case there needs to be at least $25 dollars in cash back before you can claim it. Apple doesn't have that. - Citi card has foreign transaction fees. Apple Card does not. - The rewards "expire" with Citi. Apple's doesn't. - Citi's rewards are given to you after your first statement is paid off and higher than 25 dollars. Apple's is given daily, and you can do what you want with those cash rewards.

mataug 7y ago

>For privacy, if I valued it over the $x,xxx I get back every year in the form of cash back, free insurance on rentals, etc, I'd use the most private of all instruments.... Cash. My guess is that Apple is trying to provide a middle ground between fully private instruments such as cash, with convenience of a credit card. Its much more privacy focused than your average credit card, while offering the same convenience. The price you pay for the extra privacy is the lack luster rewards.

4ntonius8lock 7y ago
My guess is they are trying to appeal to that group... as an aside to the main cool factor. Look at the presentation of the card and the offering. When the presentation is more competitive than the offering, you know they are trying to sell you $10 bars of chocolate. Very cool. Not the best.

Brendinooo 7y ago

How are you doing 3%? Rolling rewards? Doesn't seem like there are a lot of 3% cards out there without an annual fee or a set of conditions to try and fulfill. 2% on all Apple Pay purchases is pretty straightforward.

electic 7y ago
Not to mention the 2% and 3% cash back are for certain categories and there are limits to how much you can get back in a given year with other cards. For example, most cards will allow you to get a 2% cash back up to $6,000 per year. I have yet to find a card that has unlimited 2% cash back on ALL purchases. Apple Card is unlimited 2% back, no category restrictions, as long as you use Apple Pay. That's quite a deal.
- huy-nguyen 7y ago
  Citi double cash gives a flat 2% back for any purchase.
  - xivzgrev 7y ago
    I had double cash until someone skimmed my card and citi didn’t notice. I had to catch it, make a complaint, then sign bullshit forms asking if the following name was mine. It just stumped me how they didn’t catch it - there were purchases being made in different geographies on the same day as I was making purchases elsewhere. I lost total confidence in citi as a trustworthy company after that. Capital one is way more proactive on catching fraud, so I use their 1.5% quicksilver. Several times they have asked me about potentially fraud purchases. Totally worth it for peace of mind. I realize that I’m not liable for fraud credit card purchases but it’s still a stressful hassle to catch fraud yourself, challenge purchases, go through the motions and eventually get them dropped months later. Barclays I use for dining out and travel, have yet to see how they are.
  - reaperducer 7y ago
    Maybe you have a different Citi card than I do, but there's a cap on the 2% with mine. Also, there's a bunch of fees that the Apple Card doesn't have. I don't know any big bank card that doesn't have late payment or over limit fees, for example.
  - electic 7y ago
    The way the Citi Double Cash Card works is you get 1% for every dollar spent and 1% for every dollar paid. - It is actually 1.98% because when you apply it to a statement credit you are not really paying off the full total. You get a straight 2% back, daily, with Apple Card. - There is also a redemption minimum with Citi, in this case there needs to be at least $25 dollars in cash back before you can claim it. Apple doesn't have that. - Citi card has foreign transaction fees. Apple Card does not. - The rewards "expire" with Citi. Apple's doesn't. - Citi's rewards are given to you after your first statement is paid off and higher than 25 dollars. Apple's is given daily, and you can do what you want with those cash rewards.