Apple Card offers simplified and secure Goldman Sachs-backed credit card with daily reward...

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  • Reply 101 of 283
    fastasleepfastasleep Posts: 3,078member
    ElJeffe said:
    Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

    Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

    Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.
    Nailed it. 
    andrewj5790anantksundaramwatto_cobra
  • Reply 102 of 283
    65026502 Posts: 276member
    JWSC said:
    6502 said:
    Funny to watch people get so excited about something as mundane as a credit card. Up next, the Apple shoelace! I use my costco card at costco and my 2% back citi MC everywhere else. I don't really care if I miss out on an extra 1% back on a $30 purchase. That extra $0.30 won't make a difference in my life. Outside the iPhone (and less so the Mac), Apple is turning into a company I care less and less about. But, I did make a lot of money on their stock :smiley: 
    Mundane?!!

    This is huge and it will have reprucussions across the banking and credit card industry.
    This is minor and will have few repercussions. You are easily impressed.
  • Reply 103 of 283
    larz2112larz2112 Posts: 286member

    6502 said:
    wizard69 said:
    Soli said:
    hmlongco said:
    Standard isn’t always best when many cards have better rewards than 2%. Also, my standard purchases are extremely low compared to other categories. There’s practically nowhere that I purchase things that I can’t get at least 3% back and up to 5% on most things. 

    Depends on how one defines "best", doesn't it? The Amazon Prime Store Card, for example, gives you 5% back... with a 28.24% annual APR.

    Apple committed to a low (albeit unspecified) APR, with no fees, no late charges, and no penalties. Not to mention the not-so-minor fact that you get your rewards back daily as Apple Cash. Not at the end of the month, not when you redeem them. Daily.

    Then there's the secure unique randomized card number per transaction. No number or signature to steal on the physical card. No tracking of purchases. No sales of transaction data.

    I don't know about you, but there's a ton of value in privacy and security.
    Fees and APRs don’t matter if you pay your balance in full. 
    You realize that being able to pay off your cards every month isn’t the norm, right?
    If you think the “norm” is being stupid then we have a problem.  By the way I learned this the hardway and have drastically changed my use of a credit card.    At this point I try to keep all card purchases beyond an emergency  at a level easily payable every month.   The average person can literally save themselves hundreds of dollars a year by doing so.  

    Frankly it wouldnt hurt for our educational system teach students why being conservative in your use of money is so important.  
    Whether you believe it's stupid or not is completely irrelevant. Most people cannot pay off their cc every single month, and use it to get by when they need to. It's not even a matter of intelligence, I assure you.
    Maybe you shouldn't buy what you can't afford then. And, I doubt it's most people.
    You're free to doubt whatever you like. I worked for Capital One corporate for years and will believe and share what I experienced. Again, it's not about your ivory tower morality judgements from on high. It's about the reality of the economy -- the once booming middle-class is being eradicated, and the segments that are growing are low-income, and the very-high income. ie, the rich get richer while the poor get poorer. The middle-class and the promise of the American dream of my parents and grand-parents age where a single-earner need only show up and work hard to get that house and two cars is long gone. 

    Bingo! The elitist and judgemental comments being posted, i.e. "Maybe you shouldn't buy what you can't afford then" is sad and only serves to illustrate how out of touch and/or ignorant some people can be. 

    I agree that for several decades the middle class has been eroding, and as a result many more people are living paycheck to paycheck. I am fairly certain that the majority of Apple Insider readers, including 6502, Wizard69, and sirlance99, do not have to struggle with living paycheck to paycheck. 

    Because of this, they probably don't understand how difficult it can be for those living paycheck to paycheck to avoid using a credit card to pay for major, unexpected expenses such as car repairs, emergency dental work, replacing a major appliance that suddenly died, etc.  And since they are living paycheck to paycheck, they can't just pay off the credit card balance in 30 days. Instead, it takes them months to pay it off, all the while paying interest, and all the while praying that another major, unexpected expense does not occur before they can pay off their credit card balance. Unfortunately for some, another significant unexpected expense occurs and pushes them deeper into credit card debt. 

    So yeah, for those people no annual fee and a low APR matters a lot. 
    edited March 25 fastasleepanantksundaramasdasdwatto_cobra
  • Reply 104 of 283
    6502 said:
    Why are we debating the efficacy and morality of credit cards?  Virtually everyone in America has a credit card, so what's wrong with Apple offering one with better terms and security than most?  If you don't use credit cards, don't sign up for an Apple Card.  If your existing card is better under all circumstances than the Apple Card, or you don't want yet another credit card, don't get one.  

    Now if Apple wants to get into the furniture rental scam, that's another story altogether...
    Mostly debating carrying a balance. And how humdrum the Apple Card is.
    Is there another card with no annual fee, no late fee, and 2% cash back (to say nothing of the security features)?  That would be a big deal if it were someone like Capital One announcing it.

    BTW, no one here is arguing the other side of your "you should pay off your credit card every month--or not even use a credit card--if you can" proposition.  Yes, paying interest when you don't have to is bad.
    SpamSandwich
  • Reply 105 of 283
    ElJeffeElJeffe Posts: 7unconfirmed, member
    6502 said:
    ElJeffe said:
    Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

    Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

    Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.
    If you think the Apple Card is a game changer, you've set a very low bar.
    And your indifference to the shift will be looked at as part of the problem that Apple just solved for an industry it didn't NEED to be involved in. Apple doesn't make moves and involve itself in things if it doesn't feel like it can make a significant (read profitable) change in a significant way. This big dog doesn't get off the porch unless there is a need. You staring at the enormity of the dog and saying " psssshhht! I've seen bigger dogs" Misses the point a little. You pulling the curtain back and pointing to the Great Wizard, 5 minutes into the movie, misses the point a bit. It's all Meh bro, life isn't that complicated. Your indifference and nonchalantness isn't all that earth shattering, in fact Microsoft and IBM used to say "they only represent less than 3% of all computer users..." too. How is that indifference working out for them?
    edited March 25 fastasleeprandominternetpersonbestkeptsecretwatto_cobra
  • Reply 106 of 283
    so will this card charge you interest from the time of purchase (most cards give a 30 day grace period until the statement date)

    It looks like this might be so, in which case the 20% rate as the previous poster noted, might not be such a good deal.

    or will the card have no costs, only to the merchant?
    watto_cobra
  • Reply 107 of 283
    65026502 Posts: 276member
    ElJeffe said:
    6502 said:
    ElJeffe said:
    Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

    Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

    Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.
    If you think the Apple Card is a game changer, you've set a very low bar.
    And your indifference to the shift will be looked at as part of the problem that Apple just solved for an industry it didn't NEED to be involved in. Apple doesn't make moves and involve itself in things if it doesn't feel like it can make a significant (read profitable) change in a significant way. This big dog doesn't get off the porch unless there is a need. You staring at the enormity of the dog and saying " psssshhht! I've seen bigger dogs" Misses the point a little. You pulling the curtain back and pointing to the Great Wizard, 5 minutes into the movie, misses the point a bit. It's all Meh bro, life isn't that complicated. Your indifference and nonchalantness isn't all that earth shattering, in fact Microsoft and IBM used to say "they only represent less than 3% of all computer users..." too. How is that indifference working out for them?
    So Apple is now a martyr for saving the credit card industry? My credit card is a next to nothing part of my life. I charge things on it, pay it off when due and don't think twice about it. This is not what made Apple great.
  • Reply 108 of 283
    65026502 Posts: 276member
    6502 said:
    Why are we debating the efficacy and morality of credit cards?  Virtually everyone in America has a credit card, so what's wrong with Apple offering one with better terms and security than most?  If you don't use credit cards, don't sign up for an Apple Card.  If your existing card is better under all circumstances than the Apple Card, or you don't want yet another credit card, don't get one.  

    Now if Apple wants to get into the furniture rental scam, that's another story altogether...
    Mostly debating carrying a balance. And how humdrum the Apple Card is.
    Is there another card with no annual fee, no late fee, and 2% cash back (to say nothing of the security features)?  That would be a big deal if it were someone like Capital One announcing it.

    BTW, no one here is arguing the other side of your "you should pay off your credit card every month--or not even use a credit card--if you can" proposition.  Yes, paying interest when you don't have to is bad.
    My citi double cash back does this (not sure about the late fee as I never pay late). Stop paying your Apple card for 6 months. I bet they start calling your employer to get a hold of you.
  • Reply 109 of 283
    65026502 Posts: 276member
    larz2112 said:

    6502 said:
    wizard69 said:
    Soli said:
    hmlongco said:
    Standard isn’t always best when many cards have better rewards than 2%. Also, my standard purchases are extremely low compared to other categories. There’s practically nowhere that I purchase things that I can’t get at least 3% back and up to 5% on most things. 

    Depends on how one defines "best", doesn't it? The Amazon Prime Store Card, for example, gives you 5% back... with a 28.24% annual APR.

    Apple committed to a low (albeit unspecified) APR, with no fees, no late charges, and no penalties. Not to mention the not-so-minor fact that you get your rewards back daily as Apple Cash. Not at the end of the month, not when you redeem them. Daily.

    Then there's the secure unique randomized card number per transaction. No number or signature to steal on the physical card. No tracking of purchases. No sales of transaction data.

    I don't know about you, but there's a ton of value in privacy and security.
    Fees and APRs don’t matter if you pay your balance in full. 
    You realize that being able to pay off your cards every month isn’t the norm, right?
    If you think the “norm” is being stupid then we have a problem.  By the way I learned this the hardway and have drastically changed my use of a credit card.    At this point I try to keep all card purchases beyond an emergency  at a level easily payable every month.   The average person can literally save themselves hundreds of dollars a year by doing so.  

    Frankly it wouldnt hurt for our educational system teach students why being conservative in your use of money is so important.  
    Whether you believe it's stupid or not is completely irrelevant. Most people cannot pay off their cc every single month, and use it to get by when they need to. It's not even a matter of intelligence, I assure you.
    Maybe you shouldn't buy what you can't afford then. And, I doubt it's most people.
    You're free to doubt whatever you like. I worked for Capital One corporate for years and will believe and share what I experienced. Again, it's not about your ivory tower morality judgements from on high. It's about the reality of the economy -- the once booming middle-class is being eradicated, and the segments that are growing are low-income, and the very-high income. ie, the rich get richer while the poor get poorer. The middle-class and the promise of the American dream of my parents and grand-parents age where a single-earner need only show up and work hard to get that house and two cars is long gone. 

    Bingo! The elitist and judgemental comments being posted, i.e. "Maybe you shouldn't buy what you can't afford then" is sad and only serves to illustrate how out of touch and/or ignorant some people can be. 

    I agree that for several decades the middle class has been eroding, and as a result many more people are living paycheck to paycheck. I am fairly certain that the majority of Apple Insider readers, including 6502, Wizard69, and sirlance99, do not have to struggle with living paycheck to paycheck. 

    Because of this, they probably don't understand how difficult it can be for those living paycheck to paycheck to avoid using a credit card to pay for major, unexpected expenses such as car repairs, emergency dental work, replacing a major appliance that suddenly died, etc.  And since they are living paycheck to paycheck, they can't just pay off the credit card balance in 30 days. Instead, it takes them months to pay it off, all the while paying interest, and all the while praying that another major, unexpected expense does not occur before they can pay off their credit card balance. Unfortunately for some, another significant unexpected expense occurs and pushes them deeper into credit card debt. 

    So yeah, for those people no annual fee and a low APR matters a lot. 
    Stop playing the victim. You must be a millennial. Woe is me, woe is me. I moved to CA for a job with a few thousand in my bank account, and worked hard to where I'll likely never have to worry about money again considering my very modest lifestyle. But, guess what, when I had no money I didn't buy shit I couldn't afford, never ate out, never got starbucks, drove a shit car (still do), lived in a shit apartment and on and on. I watched youtube on how to fix my own car or anything else that broke. But, I never went in credit card debt. Time to grow up.
  • Reply 110 of 283
    ElJeffeElJeffe Posts: 7unconfirmed, member
    6502 said:
    ElJeffe said:
    6502 said:
    ElJeffe said:
    Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

    Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

    Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.
    If you think the Apple Card is a game changer, you've set a very low bar.
    And your indifference to the shift will be looked at as part of the problem that Apple just solved for an industry it didn't NEED to be involved in. Apple doesn't make moves and involve itself in things if it doesn't feel like it can make a significant (read profitable) change in a significant way. This big dog doesn't get off the porch unless there is a need. You staring at the enormity of the dog and saying " psssshhht! I've seen bigger dogs" Misses the point a little. You pulling the curtain back and pointing to the Great Wizard, 5 minutes into the movie, misses the point a bit. It's all Meh bro, life isn't that complicated. Your indifference and nonchalantness isn't all that earth shattering, in fact Microsoft and IBM used to say "they only represent less than 3% of all computer users..." too. How is that indifference working out for them?
    So Apple is now a martyr for saving the credit card industry? My credit card is a next to nothing part of my life. I charge things on it, pay it off when due and don't think twice about it. This is not what made Apple great.
    LOL You sir are not the average consumer. Congrats on WINNING! Apple isn't a martyr. They won't die because of this. They will however, usher in a changed ecosystem that never existed before. They will usher in a new and easier way for the "average consumer" to interact with their finances. Bro clearly this isn't a big deal to you. However, your incredible money skillz aren't who this is for. This is for the average user. This is for the masses. This just took your "I'm winning at life cuz I can finance..." and made it easier for the average user to win. GAME CHANGER. Your once venerable DOS Command Line user skillz have just been fossilized. Welcome to irrelevance. 
    edited March 25 fastasleepanantksundaramspock1234randominternetpersonbestkeptsecretwatto_cobra
  • Reply 111 of 283
    sflocalsflocal Posts: 4,674member
    6502 said:
    I pay cash for all my cars. And, I sleep like a baby at night knowing I don't owe anyone a nickel. The borrower is slave to the lender. You are criticizing me for being fiscally sound? LOL. If you enjoy paying fees and interest be my guest. I know I'll never be sued for not being able to pay on a load I don't have.
    Well that's just good for you.  Paying cash when you can use someone else's money is not sound planning as far as I'm concerned.  I bought my car a couple years ago with 0% financing.  I had the cash, but why take my $50K out of the market when I can keep it working for me?

    The money I made on that $50K over the two years resulted in a significant "discount" on my car when I paid it off 8 months ago.  
    fastasleepbeowulfschmidt
  • Reply 112 of 283
    65026502 Posts: 276member
    ElJeffe said:
    6502 said:
    ElJeffe said:
    6502 said:
    ElJeffe said:
    Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

    Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

    Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.
    If you think the Apple Card is a game changer, you've set a very low bar.
    And your indifference to the shift will be looked at as part of the problem that Apple just solved for an industry it didn't NEED to be involved in. Apple doesn't make moves and involve itself in things if it doesn't feel like it can make a significant (read profitable) change in a significant way. This big dog doesn't get off the porch unless there is a need. You staring at the enormity of the dog and saying " psssshhht! I've seen bigger dogs" Misses the point a little. You pulling the curtain back and pointing to the Great Wizard, 5 minutes into the movie, misses the point a bit. It's all Meh bro, life isn't that complicated. Your indifference and nonchalantness isn't all that earth shattering, in fact Microsoft and IBM used to say "they only represent less than 3% of all computer users..." too. How is that indifference working out for them?
    So Apple is now a martyr for saving the credit card industry? My credit card is a next to nothing part of my life. I charge things on it, pay it off when due and don't think twice about it. This is not what made Apple great.
    LOL You sir are not the average consumer. Congrats on WINNING! Apple isn't a martyr. They won't die because of this. They will however, usher in a changed ecosystem that never existed before. They will usher in a new and easier way for the "average consumer" to interact with their finances. Bro clearly this isn't a big deal to you. However, your incredible money skillz aren't who this is for. This is for the average user. This is for the masses. This just took your "I'm winning at life cuz I can finance..." and made it easier for the average user to win. GAME CHANGER. Your once venerable DOS Command Line user skillz have just been fossilized. Welcome to irrelevance. 
    So it's for people who buy stuff they don't need, with money they don't have to impress people they don't like (to quote Dave Ramsey). In other words, imbeciles.
  • Reply 113 of 283
    melgrossmelgross Posts: 31,780member
    larz2112 said:

    6502 said:
    wizard69 said:
    Soli said:
    hmlongco said:
    Standard isn’t always best when many cards have better rewards than 2%. Also, my standard purchases are extremely low compared to other categories. There’s practically nowhere that I purchase things that I can’t get at least 3% back and up to 5% on most things. 

    Depends on how one defines "best", doesn't it? The Amazon Prime Store Card, for example, gives you 5% back... with a 28.24% annual APR.

    Apple committed to a low (albeit unspecified) APR, with no fees, no late charges, and no penalties. Not to mention the not-so-minor fact that you get your rewards back daily as Apple Cash. Not at the end of the month, not when you redeem them. Daily.

    Then there's the secure unique randomized card number per transaction. No number or signature to steal on the physical card. No tracking of purchases. No sales of transaction data.

    I don't know about you, but there's a ton of value in privacy and security.
    Fees and APRs don’t matter if you pay your balance in full. 
    You realize that being able to pay off your cards every month isn’t the norm, right?
    If you think the “norm” is being stupid then we have a problem.  By the way I learned this the hardway and have drastically changed my use of a credit card.    At this point I try to keep all card purchases beyond an emergency  at a level easily payable every month.   The average person can literally save themselves hundreds of dollars a year by doing so.  

    Frankly it wouldnt hurt for our educational system teach students why being conservative in your use of money is so important.  
    Whether you believe it's stupid or not is completely irrelevant. Most people cannot pay off their cc every single month, and use it to get by when they need to. It's not even a matter of intelligence, I assure you.
    Maybe you shouldn't buy what you can't afford then. And, I doubt it's most people.
    You're free to doubt whatever you like. I worked for Capital One corporate for years and will believe and share what I experienced. Again, it's not about your ivory tower morality judgements from on high. It's about the reality of the economy -- the once booming middle-class is being eradicated, and the segments that are growing are low-income, and the very-high income. ie, the rich get richer while the poor get poorer. The middle-class and the promise of the American dream of my parents and grand-parents age where a single-earner need only show up and work hard to get that house and two cars is long gone. 

    Bingo! The elitist and judgemental comments being posted, i.e. "Maybe you shouldn't buy what you can't afford then" is sad and only serves to illustrate how out of touch and/or ignorant some people can be. 

    I agree that for several decades the middle class has been eroding, and as a result many more people are living paycheck to paycheck. I am fairly certain that the majority of Apple Insider readers, including 6502, Wizard69, and sirlance99, do not have to struggle with living paycheck to paycheck. 

    Because of this, they probably don't understand how difficult it can be for those living paycheck to paycheck to avoid using a credit card to pay for major, unexpected expenses such as car repairs, emergency dental work, replacing a major appliance that suddenly died, etc.  And since they are living paycheck to paycheck, they can't just pay off the credit card balance in 30 days. Instead, it takes them months to pay it off, all the while paying interest, and all the while praying that another major, unexpected expense does not occur before they can pay off their credit card balance. Unfortunately for some, another significant unexpected expense occurs and pushes them deeper into credit card debt. 

    So yeah, for those people no annual fee and a low APR matters a lot. 
    Sooo, you think that people SHOULD buy what they can’t afford? Do you have any idea how many people get into such crippling amounts of credit card debt that they go bankrupt, and have to start over again—if they’re lucky?

    his statement didn’t read as elitist to me. Just the opposite. I think to a certain extent, we’re on the same page here. A problem is that the easy availability of credit has caused problems. It hasn’t actually solved any other than allowing people to buy something before they have the money to do so. That’s normally fine. But too many people use their credit card as a loan, not understanding the almost extortionate interest rates they’re paying. Some people just get more cards, and max them out. There isn’t a good way for banks and card companies to check out their credit until they start defaulting on payments. Then things come crashing down.

    A friend of my wife’s did that quite a while ago. She was crying that she couldn’t go and buy anything anymore because she had no credit, and they were heavily garnishing her salary. I didn’t feel sorry for her, to tell the truth, because we kept telling her to stop buying all that stuff, and pay off her cards. But it was like a drug.
    muthuk_vanalingam
  • Reply 114 of 283
    65026502 Posts: 276member
    sflocal said:
    6502 said:
    I pay cash for all my cars. And, I sleep like a baby at night knowing I don't owe anyone a nickel. The borrower is slave to the lender. You are criticizing me for being fiscally sound? LOL. If you enjoy paying fees and interest be my guest. I know I'll never be sued for not being able to pay on a load I don't have.
    Well that's just good for you.  Paying cash when you can use someone else's money is not sound planning as far as I'm concerned.  I bought my car a couple years ago with 0% financing.  I had the cash, but why take my $50K out of the market when I can keep it working for me?

    The money I made on that $50K over the two years resulted in a significant "discount" on my car when I paid it off 8 months ago.  
    Wow, you sure scammed them. Good for you. Zero percent auto financing is rare, usually reserved for poor selling cars or a bad economy. You know how many people went bankrupt "using someone else's money"? Sounds like a late night real estate infomercial.
  • Reply 115 of 283
    melgrossmelgross Posts: 31,780member

    6502 said:
    ElJeffe said:
    6502 said:
    ElJeffe said:
    Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

    Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

    Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.
    If you think the Apple Card is a game changer, you've set a very low bar.
    And your indifference to the shift will be looked at as part of the problem that Apple just solved for an industry it didn't NEED to be involved in. Apple doesn't make moves and involve itself in things if it doesn't feel like it can make a significant (read profitable) change in a significant way. This big dog doesn't get off the porch unless there is a need. You staring at the enormity of the dog and saying " psssshhht! I've seen bigger dogs" Misses the point a little. You pulling the curtain back and pointing to the Great Wizard, 5 minutes into the movie, misses the point a bit. It's all Meh bro, life isn't that complicated. Your indifference and nonchalantness isn't all that earth shattering, in fact Microsoft and IBM used to say "they only represent less than 3% of all computer users..." too. How is that indifference working out for them?
    So Apple is now a martyr for saving the credit card industry? My credit card is a next to nothing part of my life. I charge things on it, pay it off when due and don't think twice about it. This is not what made Apple great.
    Apple is not “saving” the credit card industry. They are saving themselves. As you should know, they are pushing for much more sales and profits from services, which Tim has stated for a good two years now. As hardware sales slow up, something else is needed to keep the cash machine running smoothly. You’ll notice that everything introduced today was services. They want to get that to 50% of sales eventually.

    the credit card industry is doing fine now, Apple will be a part of it, thank’s to Goldman and MasterCard.
    edited March 25 6502designr
  • Reply 116 of 283
    ElJeffeElJeffe Posts: 7unconfirmed, member
    6502 said:
    ElJeffe said:
    6502 said:
    ElJeffe said:
    6502 said:
    ElJeffe said:
    Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

    Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

    Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.
    If you think the Apple Card is a game changer, you've set a very low bar.
    And your indifference to the shift will be looked at as part of the problem that Apple just solved for an industry it didn't NEED to be involved in. Apple doesn't make moves and involve itself in things if it doesn't feel like it can make a significant (read profitable) change in a significant way. This big dog doesn't get off the porch unless there is a need. You staring at the enormity of the dog and saying " psssshhht! I've seen bigger dogs" Misses the point a little. You pulling the curtain back and pointing to the Great Wizard, 5 minutes into the movie, misses the point a bit. It's all Meh bro, life isn't that complicated. Your indifference and nonchalantness isn't all that earth shattering, in fact Microsoft and IBM used to say "they only represent less than 3% of all computer users..." too. How is that indifference working out for them?
    So Apple is now a martyr for saving the credit card industry? My credit card is a next to nothing part of my life. I charge things on it, pay it off when due and don't think twice about it. This is not what made Apple great.
    LOL You sir are not the average consumer. Congrats on WINNING! Apple isn't a martyr. They won't die because of this. They will however, usher in a changed ecosystem that never existed before. They will usher in a new and easier way for the "average consumer" to interact with their finances. Bro clearly this isn't a big deal to you. However, your incredible money skillz aren't who this is for. This is for the average user. This is for the masses. This just took your "I'm winning at life cuz I can finance..." and made it easier for the average user to win. GAME CHANGER. Your once venerable DOS Command Line user skillz have just been fossilized. Welcome to irrelevance. 
    So it's for people who buy stuff they don't need, with money they don't have to impress people they don't like (to quote Dave Ramsey). In other words, imbeciles.
    Look at you still WINNING at life. Congrats. Now you're kinda becoming needy for reinforcement in your, over 9000 finance skillzzz. You do realize that you don't speak for the average consumer. In fact by your own admissions you represent .001% of the population who are anti-credit by refusing to utilize it when it's available. You realize your troll is losing steam by marginalizing yourself into irrelevance? DOS command line usage used to be a badge of honor for early computer users too.
    lkrupprandominternetpersonmike1watto_cobra
  • Reply 117 of 283
    SpamSandwichSpamSandwich Posts: 31,301member
    Honestly, found the Apple Card the most exciting part of the presentation. I’ll get one immediately.
    ElJeffemike1watto_cobra
  • Reply 118 of 283
    65026502 Posts: 276member
    ElJeffe said:
    6502 said:
    ElJeffe said:
    6502 said:
    ElJeffe said:
    6502 said:
    ElJeffe said:
    Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

    Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

    Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.
    If you think the Apple Card is a game changer, you've set a very low bar.
    And your indifference to the shift will be looked at as part of the problem that Apple just solved for an industry it didn't NEED to be involved in. Apple doesn't make moves and involve itself in things if it doesn't feel like it can make a significant (read profitable) change in a significant way. This big dog doesn't get off the porch unless there is a need. You staring at the enormity of the dog and saying " psssshhht! I've seen bigger dogs" Misses the point a little. You pulling the curtain back and pointing to the Great Wizard, 5 minutes into the movie, misses the point a bit. It's all Meh bro, life isn't that complicated. Your indifference and nonchalantness isn't all that earth shattering, in fact Microsoft and IBM used to say "they only represent less than 3% of all computer users..." too. How is that indifference working out for them?
    So Apple is now a martyr for saving the credit card industry? My credit card is a next to nothing part of my life. I charge things on it, pay it off when due and don't think twice about it. This is not what made Apple great.
    LOL You sir are not the average consumer. Congrats on WINNING! Apple isn't a martyr. They won't die because of this. They will however, usher in a changed ecosystem that never existed before. They will usher in a new and easier way for the "average consumer" to interact with their finances. Bro clearly this isn't a big deal to you. However, your incredible money skillz aren't who this is for. This is for the average user. This is for the masses. This just took your "I'm winning at life cuz I can finance..." and made it easier for the average user to win. GAME CHANGER. Your once venerable DOS Command Line user skillz have just been fossilized. Welcome to irrelevance. 
    So it's for people who buy stuff they don't need, with money they don't have to impress people they don't like (to quote Dave Ramsey). In other words, imbeciles.
    Look at you still WINNING at life. Congrats. Now you're kinda becoming needy for reinforcement in your, over 9000 finance skillzzz. You do realize that you don't speak for the average consumer. In fact by your own admissions you represent .001% of the population who are anti-credit by refusing to utilize it when it's available. You realize your troll is losing steam by marginalizing yourself into irrelevance? DOS command line usage used to be a badge of honor for early computer users too.
    You sure love that dos line. I've never used dos in my life, btw. So, I'm wrong for not going into debt when going into debt is available to me? What has this world come to? I'm glad I'm not like the average consumer as the average consumer is an imbecile.
    muthuk_vanalingam
  • Reply 119 of 283
    Will the new Apple Card allow me to exceed the $100 limit in Canada that all cards, banks and stores currently implement. Whenever I pay for anything over $100, like groceries, Apple Pay on my iPhone won't work and I have to pull out my credit card and enter my PIN.
  • Reply 120 of 283
    SpamSandwichSpamSandwich Posts: 31,301member
    Will the new Apple Card allow me to exceed the $100 limit in Canada that all cards, banks and stores currently implement. Whenever I pay for anything over $100, like groceries, Apple Pay on my iPhone won't work and I have to pull out my credit card and enter my PIN.
    I imagine Apple will need to adhere to whatever are Canadian regulations or standards.
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