Apple Card arrives in US this August

AppleInsider

After a long incubation period, the Apple Card will finally reach the U.S. public sometime this August, Apple CEO Tim Cook confirmed during Tuesday's quarterly results call for the third quarter of 2019.

"Thousands" of Apple workers are currently evaluating the card in a beta test process, Cook added. So far only leaks of Apple Card packaging have emerged, with no real insight into how the credit card works in day-to-day life.

Rumors of an August launch first emerged on Friday. Specifically, a source claimed that the debut would happen in the first half of the month, possible now that iOS 12.4 has laid the necessary framework.

The Apple Card is a digital-first product in partnership with Goldman Sachs and Mastercard, which people can apply for directly from their iPhone and activate the same day, storing it in their Wallet app. Because many places still don't accept Apple Pay however, card owners will also get a minimalist physical card made out of titanium.

Owners will get 3% cash back rewards from any direct Apple purchase, 2% from anything bought using Apple Pay and 1% from everything else.

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eightzero

Sh*t gets real when Tim promises the shareholders. 

macpro

2022 ....  Apple Bank.

dasanman69

MacPro said:

2022 ....  Apple Bank.

Apple Bank already exists 

rob53

dasanman69 said:

MacPro said:

2022 ....  Apple Bank.

Apple Bank already exists 

I wonder if Apple would try and buy the name even though it's been around for a long time. Probably not, they'll just figure out a different name.

"The banks’ merger led to the creation of Apple Bank in May 1983." Interesting because the Apple name and the apple logo were well known at this time. I have to wonder why Apple hasn't gone after Apple Bank's logo like they've done with other companies. I assume because Apple isn't in the banking business, Apple Bank is allowed to use their logo.

coffeetime69

So many places (Costco gas pumps, for starters) still require cards with a magnetic stripe.  We use Chase Visa and debit cards today, and they work everywhere.  Their mobile banking app could be better (my experience when taking photos of checks to deposit in landscape and then going back to portrait mode occasionally crashes the app), but it mostly works fine.  The website works great, nicely combining credit and checking tools.  And they have pretty decent cash-back points.  I don’t know or care about their interest rates because we pay off the balance in full each month, so there are no fees.  If it isn’t broken, then why fix it?

lordjohnwhorfin

coffeetime69 said:

So many places (Costco gas pumps, for starters) still require cards with a magnetic stripe.  We use Chase Visa and debit cards today, and they work everywhere.  Their mobile banking app could be better (my experience when taking photos of checks to deposit in landscape and then going back to portrait mode occasionally crashes the app), but it mostly works fine.  The website works great, nicely combining credit and checking tools.  And they have pretty decent cash-back points.  I don’t know or care about their interest rates because we pay off the balance in full each month, so there are no fees.  If it isn’t broken, then why fix it?

Because it is broken. Many identity theft problems come from the fact that you share your credit card information with the merchant. A server hack (like happened at Home Depot a few years back, but there has been many since) or a dishonest store clerk can cause your info to be stolen and used for nefarious purposes -- or at best, your CC# can be used to track you and your shopping habits.
By using ApplePay you isolate yourself with an extra layer of security, because the merchant does not get your CC#.
Of course you can also use the Apple Card as a regular card. Compared to existing cards, it has some remarkable and unusual benefits (no fees whatsoever: no annual fee, no late fees, no international transaction fees, etc... and generous cash back).
Yes, there are other great cards, and if you already have a Chase Sapphire Reserve you don't need an Apple Card. but it's a nice addition, considering the 2% cash back on every Apple Pay purchase and 1% on everything else.

pacificfilm

lordjohnwhorfin said:

Because it is broken. Many identity theft problems come from the fact that you share your credit card information with the merchant. A server hack (like happened at Home Depot a few years back, but there has been many since) or a dishonest store clerk can cause your info to be stolen and used for nefarious purposes -- or at best, your CC# can be used to track you and your shopping habits.
By using ApplePay you isolate yourself with an extra layer of security, because the merchant does not get your CC#.
Of course you can also use the Apple Card as a regular card. Compared to existing cards, it has some remarkable and unusual benefits (no fees whatsoever: no annual fee, no late fees, no international transaction fees, etc... and generous cash back).
Yes, there are other great cards, and if you already have a Chase Sapphire Reserve you don't need an Apple Card. but it's a nice addition, considering the 2% cash back on every Apple Pay purchase and 1% on everything else.

Agree. I frequent Home Depot and got dinged one night using Chase, but they send immediate notice of charges. I was still in the parking lot when "somebody" bought an $85 something, playing detective I walked back  in immediately, sorting through fifteen register lines...really had no idea of what I was doing, got woke for one minute and called Chase, blocked the account. Last week got a $100 charge two days in a row from the Valley, credit union at USC fixed and gave a new card, nothing but great service from them since I graduated.  so much for my drama, I welcome' Apple's protection and security efforts so I'm in for the new card.

magenheimerdp

One question is if the Apple Card will replace the Barclaycard for their financing option. If they do, will they make it like Home Depot’s card where it isn’t a one time financing option. It would be great if they offered the free financing every time they do a major hardware release.

jfc_pa

coffeetime69 said:

So many places (Costco gas pumps, for starters) still require cards with a magnetic stripe.  We use Chase Visa and debit cards today, and they work everywhere.  Their mobile banking app could be better (my experience when taking photos of checks to deposit in landscape and then going back to portrait mode occasionally crashes the app), but it mostly works fine.  The website works great, nicely combining credit and checking tools.  And they have pretty decent cash-back points.  I don’t know or care about their interest rates because we pay off the balance in full each month, so there are no fees.  If it isn’t broken, then why fix it?

Every place you swipe that card your information is exposed, both within the stores questionable cyber security (Home Depot, Acme Grocer’s) and when a skimmer has been installed in a vulnerable terminal. I’ve had multiple cards replaced for store data breaches. That’s not possible with Apple Pay. Apple Card is just an extension of that, but instead of an outside credit card the transaction is all provided through Apple. 

beowulfschmidt

rob53 said:

dasanman69 said:

MacPro said:

2022 ....  Apple Bank.

Apple Bank already exists 

I wonder if Apple would try and buy the name even though it's been around for a long time. Probably not, they'll just figure out a different name.

"The banks’ merger led to the creation of Apple Bank in May 1983." Interesting because the Apple name and the apple logo were well known at this time. I have to wonder why Apple hasn't gone after Apple Bank's logo like they've done with other companies. I assume because Apple isn't in the banking business, Apple Bank is allowed to use their logo.

Well, I assume that Apple Bank is allowed to use their logo because it's significantly different from Apple's at the time, i.e. it's a 3D graphic of an actual Apple, not a stylized and multicolored 2D apple shape.

And now it's far too late for Apple to try to claim infringement, even if they wanted to, which I'm virtually certain they do not.

ihatescreennames

JFC_PA said:

coffeetime69 said:

So many places (Costco gas pumps, for starters) still require cards with a magnetic stripe.  We use Chase Visa and debit cards today, and they work everywhere.  Their mobile banking app could be better (my experience when taking photos of checks to deposit in landscape and then going back to portrait mode occasionally crashes the app), but it mostly works fine.  The website works great, nicely combining credit and checking tools.  And they have pretty decent cash-back points.  I don’t know or care about their interest rates because we pay off the balance in full each month, so there are no fees.  If it isn’t broken, then why fix it?

Every place you swipe that card your information is exposed, both within the stores questionable cyber security (Home Depot, Acme Grocer’s) and when a skimmer has been installed in a vulnerable terminal. I’ve had multiple cards replaced for store data breaches. That’s not possible with Apple Pay. Apple Card is just an extension of that, but instead of an outside credit card the transaction is all provided through Apple. 

Are you saying that swiping Apple Card offers the same protections that using Apple Pay does? I have not heard that before.

zimmie

magenheimerdp said:

One question is if the Apple Card will replace the Barclaycard for their financing option. If they do, will they make it like Home Depot’s card where it isn’t a one time financing option. It would be great if they offered the free financing every time they do a major hardware release.

Barclaycard refreshes the 0% financing periodically. They sometimes reset it and send you mail or an email, but they can also trigger it if you call and ask them.

macgui

ihatescreennames said:

JFC_PA said:

coffeetime69 said:

So many places (Costco gas pumps, for starters) still require cards with a magnetic stripe.  We use Chase Visa and debit cards today, and they work everywhere.  Their mobile banking app could be better (my experience when taking photos of checks to deposit in landscape and then going back to portrait mode occasionally crashes the app), but it mostly works fine.  The website works great, nicely combining credit and checking tools.  And they have pretty decent cash-back points.  I don’t know or care about their interest rates because we pay off the balance in full each month, so there are no fees.  If it isn’t broken, then why fix it?

Every place you swipe that card your information is exposed, both within the stores questionable cyber security (Home Depot, Acme Grocer’s) and when a skimmer has been installed in a vulnerable terminal. I’ve had multiple cards replaced for store data breaches. That’s not possible with Apple Pay. Apple Card is just an extension of that, but instead of an outside credit card the transaction is all provided through Apple. 

Are you saying that swiping Apple Card offers the same protections that using Apple Pay does? I have not heard that before.

I haven't seen anything that states or even indicates that your swiping of the Apple Card is as safe as using Apple Pay. Nothing. They're two different processes. The is some reduced chance of fraud if you have to hand your AC to somebody, such as wait staff. But were a magnetic stripe is employed, I don't see where you're at a lesser risk with the Apple Card.

The 'provided through Apple' part needs some clarification. Otherwise it looks like JFC doesn't fully understand the process.

jst

how about iBank, anyone think they would go this route if they can't get use of Apple Bank?

edac2

I wonder if Apple Card will be used for financing new iPhone purchases instead of Citizens One.

crowley

jst said:

how about iBank, anyone think they would go this route if they can't get use of Apple Bank?

I think the iBrand is dead, it's 20 years old now and they won't release any new lines using it.  Existing lines will continue until they are phased out or have a substantive reason to rebrand, but nothing new.

crowley

Plus, iBank itself has trademark implications, it wouldn't necessarily be an easier route.