I got my card in the mail yesterday. It truly is gorgeous! Easy to activate. I just wonder how long it will take to scratch up that white surface which will make it look like a piece of junk.
Delivered by FedEx? Did you get a tracking number? I'd like to be home when mine arrives.
After all the reading and banter the last couple weeks, this is my ‘skinny’ on the Apple Card:
Easy to apply for via the app.
No annual fee - with rare exceptions, you shouldn’t be paying a fee on your cards anyway.
No foreign transaction fees - I could find no information on the exchange rate, though. This benefit could be wiped out by a cruddy exchange rate.
no late fees - appears to be unique in this regard
Rates: 13~24% - reasonable but nothing you can’t get with other cards. A lot of reports of people with pretty good credit getting mediocre rates. If you’re worried about the rates, you probably shouldn’t be getting a credit card anyway. Focus on your finances instead.
Clearly shows how much interest you’ll be paying when making a payment. Most cards tend to hide this, or at least make it less than clear. As I mentioned above, though, you should really be paying your balance in full every month anyway.
3% cash back on purchase from Apple, 2% on Apple Pay purchases, 1% on everything else. Credits given daily. Good rebate rates. There are other cards with similar rates, but not a lot of them
All card management is done via the wallet app on your phone. Support is via text message, or telephone if you lose your iphone. Reports I’ve seen of tech support have been variable, sometimes being prompt, sometimes being slow or unable to help.
There is no ability to download transactions to financial software like Quicken/Mint, Moneydance or Banktivity. There is also no ability to download statements, although it’s rumored to be coming.
The wallet app will categorize your spending and the card changes color according to your spending. As one article I read commented, though, for most people this will end up being a rainbow of colors anyway. Unless you have all your spending on one card this is of limited value and the incompatibility with financial software means you won’t be able to get a global look.
The card has a chip and your name but no printed numbers for security. If you need your number for an online purchase, you can get a virtual number from the wallet app. I can’t tell, but it appears that this is a single virtual number that doesn’t change unless you change it.
The true card number is stored on the magnetic strip which would theoretically be at risk for skimming.
If you think your virtual account number is compromised you can instantly get a new virtual number in the wallet app. Apple has been mum on the ‘real’ account number. I’m guessing that you would need a new physical card if that got compromised.
No cash advances as far as I can tell.
Allows you to see the exact location of a transaction on a map - a very convenient feature.
Apple touts the security features of the Apple Card, but the only real differences I could find were the lack of a number on the card and the virtual account numbers in the app. The ease if using the virtual account numbers is refreshing, but the other security benefits would apply to any card you use with Apple Pay or with chip transactions. Ditto if you use Apple Pay online.
Financially, the lack of fees is nice, but for most users shouldn’t matter. Apple could easily have wiped out other benefits by charging fees, so I do give props to Apple for not doing what many other card issuers do. The financial benefits of the card are limited to whatever cash back bonus you get from the Apple Card above what you can get from your current card and possibly foreign transaction fees.
The lack of foreign transaction fees may or may not be a benefit but there are no other services (rental car insurance, trip insurance, etc) that many other cards have, so again, you may or may not realize a benefit here.
The lack of ability to download to financial software is a major inconvenience drawback for many people.
So after all the reading I’ve done, I would conclude that the Apple Card is a decent card with a few unique features and some nice benefits and a few drawbacks as well. Financially, some people will see a benefit, but it really depends. It’s not a slam dunk, but like everything you need to look at your situation.
Solid summary based also upon reading/participating in the banter over the past few weeks. To echo a few of your points..
Late fess/interest rate should be irrelevant to anyone signing up for a credit card. Paying in full every month = no concern about rates/fess. If you are paying any interest or late fees whatsoever, you have no business having a credit card, but instead need to focus on improving your personal finances and spending.
Nice dogma land you live in. Totally bogus, of course. I ran a small business for many years and ended up having to put a lot of costs on credit during the hard times. Such is life, and it doesn't mean I have no business having or utilizing credit. To the contrary, that is the entire purpose of the service of credit. What virtue signalers like you fail to realize or acknowledge is that virtually the entirety of business, especially construction and development, is based on credit. Credit, credit, credit. Not cash. The world runs on credit. If it's OK for big corporations to use credit, it's ok for small business to use credit, and it's ok for consumers to use credit. Credit is a service, and it has a price like any other service. We are all free to utilize the various services in life that make sense to us.
Espousing your need to live a life without the service of credit is like me bragging about something I choose to do that you do not. Entirely irrelevant to anyone but myself. AKA, virtue signaling.
I’m not sure if he’a completely trolling or just that ignorant about finance and accounting. Isn’t he the one that brags about having 15 credit cards as if that’s a relative measure of success or knowledge?
There have also been several new posters here claiming that you should never use credit without even realizing that companies like Apple have billions of dollars in accounts payable at the end of every quarter despite their record profits. These people clearly aren’t the finance kings they claim to be.
After all the reading and banter the last couple weeks, this is my ‘skinny’ on the Apple Card:
Easy to apply for via the app.
No annual fee - with rare exceptions, you shouldn’t be paying a fee on your cards anyway.
No foreign transaction fees - I could find no information on the exchange rate, though. This benefit could be wiped out by a cruddy exchange rate.
no late fees - appears to be unique in this regard
Rates: 13~24% - reasonable but nothing you can’t get with other cards. A lot of reports of people with pretty good credit getting mediocre rates. If you’re worried about the rates, you probably shouldn’t be getting a credit card anyway. Focus on your finances instead.
Clearly shows how much interest you’ll be paying when making a payment. Most cards tend to hide this, or at least make it less than clear. As I mentioned above, though, you should really be paying your balance in full every month anyway.
3% cash back on purchase from Apple, 2% on Apple Pay purchases, 1% on everything else. Credits given daily. Good rebate rates. There are other cards with similar rates, but not a lot of them
All card management is done via the wallet app on your phone. Support is via text message, or telephone if you lose your iphone. Reports I’ve seen of tech support have been variable, sometimes being prompt, sometimes being slow or unable to help.
There is no ability to download transactions to financial software like Quicken/Mint, Moneydance or Banktivity. There is also no ability to download statements, although it’s rumored to be coming.
The wallet app will categorize your spending and the card changes color according to your spending. As one article I read commented, though, for most people this will end up being a rainbow of colors anyway. Unless you have all your spending on one card this is of limited value and the incompatibility with financial software means you won’t be able to get a global look.
The card has a chip and your name but no printed numbers for security. If you need your number for an online purchase, you can get a virtual number from the wallet app. I can’t tell, but it appears that this is a single virtual number that doesn’t change unless you change it.
The true card number is stored on the magnetic strip which would theoretically be at risk for skimming.
If you think your virtual account number is compromised you can instantly get a new virtual number in the wallet app. Apple has been mum on the ‘real’ account number. I’m guessing that you would need a new physical card if that got compromised.
No cash advances as far as I can tell.
Allows you to see the exact location of a transaction on a map - a very convenient feature.
Apple touts the security features of the Apple Card, but the only real differences I could find were the lack of a number on the card and the virtual account numbers in the app. The ease if using the virtual account numbers is refreshing, but the other security benefits would apply to any card you use with Apple Pay or with chip transactions. Ditto if you use Apple Pay online.
Financially, the lack of fees is nice, but for most users shouldn’t matter. Apple could easily have wiped out other benefits by charging fees, so I do give props to Apple for not doing what many other card issuers do. The financial benefits of the card are limited to whatever cash back bonus you get from the Apple Card above what you can get from your current card and possibly foreign transaction fees.
The lack of foreign transaction fees may or may not be a benefit but there are no other services (rental car insurance, trip insurance, etc) that many other cards have, so again, you may or may not realize a benefit here.
The lack of ability to download to financial software is a major inconvenience drawback for many people.
So after all the reading I’ve done, I would conclude that the Apple Card is a decent card with a few unique features and some nice benefits and a few drawbacks as well. Financially, some people will see a benefit, but it really depends. It’s not a slam dunk, but like everything you need to look at your situation.
Solid summary based also upon reading/participating in the banter over the past few weeks. To echo a few of your points..
Late fess/interest rate should be irrelevant to anyone signing up for a credit card. Paying in full every month = no concern about rates/fess. If you are paying any interest or late fees whatsoever, you have no business having a credit card, but instead need to focus on improving your personal finances and spending.
Nice dogma land you live in. Totally bogus, of course. I ran a small business for many years and ended up having to put a lot of costs on credit during the hard times. Such is life, and it doesn't mean I have no business having or utilizing credit. To the contrary, that is the entire purpose of the service of credit. What virtue signalers like you fail to realize or acknowledge is that virtually the entirety of business, especially construction and development, is based on credit. Credit, credit, credit. Not cash. The world runs on credit. If it's OK for big corporations to use credit, it's ok for small business to use credit, and it's ok for consumers to use credit. Credit is a service, and it has a price like any other service. We are all free to utilize the various services in life that make sense to us.
Espousing your need to live a life without the service of credit is like me bragging about something I choose to do that you do not. Entirely irrelevant to anyone but myself. AKA, virtue signaling.
I’m not sure if he’a completely trolling or just that ignorant about finance and accounting. Isn’t he the one that brags about having 15 credit cards as if that’s a relative measure of success or knowledge?
There have also been several new posters here claiming that you should never use credit without even realizing that companies like Apple have billions of dollars in accounts payable at the end of every quarter despite their record profits. These people clearly aren’t the finance kings they claim to be.
LOL TROLLING. So predictable. Utilizing credit vs operating on debt is different. We are talking about personal finance here, not operating a business, which you constantly convolute.
How can i use the Apple Card for recurring payments such as the iphone upgrade program monthly payments? i remember something about that here? If i am given a one time code how will it work the next month?
How can i use the Apple Card for recurring payments such as the iphone upgrade program monthly payments? i remember something about that here? If i am given a one time code how will it work the next month?
In the Wallet app you can view card information which gives you the card number and security code. That’s what I used to update the account on my iPhone Upgrade payments.
Got mine approved in like 10 seconds. And it automatically changed my iTunes/App Store billing to Apple Card. The UX with this is really nice.
The interface seems very intuitive. Will be using the card at a college bookstore that sells apple products and accepts apple pay. Curious if cash back reward will be 2 or 3 percent.
It will be 2%.
If you’re buying a computer, you may have the option of buying it on campus vs buying it online though the apple education store for your institution. Doing the latter would probably give. You 3% vs 2%, or an extra $10-20 on a MacBook.
After all the reading and banter the last couple weeks, this is my ‘skinny’ on the Apple Card:
Easy to apply for via the app.
No annual fee - with rare exceptions, you shouldn’t be paying a fee on your cards anyway.
No foreign transaction fees - I could find no information on the exchange rate, though. This benefit could be wiped out by a cruddy exchange rate.
no late fees - appears to be unique in this regard
Rates: 13~24% - reasonable but nothing you can’t get with other cards. A lot of reports of people with pretty good credit getting mediocre rates. If you’re worried about the rates, you probably shouldn’t be getting a credit card anyway. Focus on your finances instead.
Clearly shows how much interest you’ll be paying when making a payment. Most cards tend to hide this, or at least make it less than clear. As I mentioned above, though, you should really be paying your balance in full every month anyway.
3% cash back on purchase from Apple, 2% on Apple Pay purchases, 1% on everything else. Credits given daily. Good rebate rates. There are other cards with similar rates, but not a lot of them
All card management is done via the wallet app on your phone. Support is via text message, or telephone if you lose your iphone. Reports I’ve seen of tech support have been variable, sometimes being prompt, sometimes being slow or unable to help.
There is no ability to download transactions to financial software like Quicken/Mint, Moneydance or Banktivity. There is also no ability to download statements, although it’s rumored to be coming.
The wallet app will categorize your spending and the card changes color according to your spending. As one article I read commented, though, for most people this will end up being a rainbow of colors anyway. Unless you have all your spending on one card this is of limited value and the incompatibility with financial software means you won’t be able to get a global look.
The card has a chip and your name but no printed numbers for security. If you need your number for an online purchase, you can get a virtual number from the wallet app. I can’t tell, but it appears that this is a single virtual number that doesn’t change unless you change it.
The true card number is stored on the magnetic strip which would theoretically be at risk for skimming.
If you think your virtual account number is compromised you can instantly get a new virtual number in the wallet app. Apple has been mum on the ‘real’ account number. I’m guessing that you would need a new physical card if that got compromised.
No cash advances as far as I can tell.
Allows you to see the exact location of a transaction on a map - a very convenient feature.
Apple touts the security features of the Apple Card, but the only real differences I could find were the lack of a number on the card and the virtual account numbers in the app. The ease if using the virtual account numbers is refreshing, but the other security benefits would apply to any card you use with Apple Pay or with chip transactions. Ditto if you use Apple Pay online.
Financially, the lack of fees is nice, but for most users shouldn’t matter. Apple could easily have wiped out other benefits by charging fees, so I do give props to Apple for not doing what many other card issuers do. The financial benefits of the card are limited to whatever cash back bonus you get from the Apple Card above what you can get from your current card and possibly foreign transaction fees.
The lack of foreign transaction fees may or may not be a benefit but there are no other services (rental car insurance, trip insurance, etc) that many other cards have, so again, you may or may not realize a benefit here.
The lack of ability to download to financial software is a major inconvenience drawback for many people.
So after all the reading I’ve done, I would conclude that the Apple Card is a decent card with a few unique features and some nice benefits and a few drawbacks as well. Financially, some people will see a benefit, but it really depends. It’s not a slam dunk, but like everything you need to look at your situation.
Solid summary based also upon reading/participating in the banter over the past few weeks. To echo a few of your points..
Late fess/interest rate should be irrelevant to anyone signing up for a credit card. Paying in full every month = no concern about rates/fess. If you are paying any interest or late fees whatsoever, you have no business having a credit card, but instead need to focus on improving your personal finances and spending.
Nice dogma land you live in. Totally bogus, of course. I ran a small business for many years and ended up having to put a lot of costs on credit during the hard times. Such is life, and it doesn't mean I have no business having or utilizing credit. To the contrary, that is the entire purpose of the service of credit. What virtue signalers like you fail to realize or acknowledge is that virtually the entirety of business, especially construction and development, is based on credit. Credit, credit, credit. Not cash. The world runs on credit. If it's OK for big corporations to use credit, it's ok for small business to use credit, and it's ok for consumers to use credit. Credit is a service, and it has a price like any other service. We are all free to utilize the various services in life that make sense to us.
Espousing your need to live a life without the service of credit is like me bragging about something I choose to do that you do not. Entirely irrelevant to anyone but myself. AKA, virtue signaling.
I don’t run a small business, so I’m totally naive on such matters, but it seems like a small business line of credit or home equity line of credit might be better for this? Are they not options are are there factors that make credit cards more preferable?
One mitigating factor with the Apple Card (and other cards that have a rebate) is that the 1-3% rebate can mitigate the cost of the credit a bit. A 12% rate ends up being 1% per month, so If you pay it off within 1-2 months it ends up being a ‘free’ loan. Of coarse you need to be careful not to fall into the trap of double counting benefits.
How can i use the Apple Card for recurring payments such as the iphone upgrade program monthly payments? i remember something about that here? If i am given a one time code how will it work the next month?
In the Wallet app you can view card information which gives you the card number and security code. That’s what I used to update the account on my iPhone Upgrade payments.
Yes...you are correct...just read the card number stays the same unless you request the number to be changed. For some reason I thought each transaction changed the number
Is anybody else having trouble getting Apple Card on their Apple Watch wallet? I followed the directions to go to the Watch app on the phone, but I can’t seem to find the Apple Card as an option there. Do I need to enter the numbers manually—I didn’t think that was the case...
So has anyone found out if it has a factory warrenty extension provision? This is a major reason I use am ex, especially for apple and electronic equipment purchases.
I got my card in the mail yesterday. It truly is gorgeous! Easy to activate. I just wonder how long it will take to scratch up that white surface which will make it look like a piece of junk.
Delivered by FedEx? Did you get a tracking number? I'd like to be home when mine arrives.
Mine came by UPS. I don't remember if I was provided a tracking number, but I remember that Apple told me the day it would arrive and I received a text message when it was delivered.
Comments
Here is the article...we would get 3%..I'm still confused how to add the card to citizens bank...i know i can change the payment type by logging on their website but not sure what card am i entering if apple card creates a new number each transaction.
https://www.google.com/amp/s/9to5mac.com/2019/08/11/apple-card-iphone-upgrade-program/amp/
I don’t run a small business, so I’m totally naive on such matters, but it seems like a small business line of credit or home equity line of credit might be better for this? Are they not options are are there factors that make credit cards more preferable?
One mitigating factor with the Apple Card (and other cards that have a rebate) is that the 1-3% rebate can mitigate the cost of the credit a bit. A 12% rate ends up being 1% per month, so If you pay it off within 1-2 months it ends up being a ‘free’ loan. Of coarse you need to be careful not to fall into the trap of double counting benefits.
I followed the directions to go to the Watch app on the phone, but I can’t seem to find the Apple Card as an option there. Do I need to enter the numbers manually—I didn’t think that was the case...