Apple Card grew to an estimated 6.4M cardholders at end of 2020

Posted:
in General Discussion edited May 6
Apple Card adoption has grown to an estimated 6.4 million cardholders in the U.S., driven mostly by strong interest among women.

Credit: Apple
Credit: Apple


Throughout 2020, the estimated number of Apple Card holders more than doubled, according to estimates based on a December 2020 carried out by Cornerstone Advisors.

Apple launched its credit card offering in August 2019.

In 2020, the Apple Card made strides among women. At the start of the year, about 25% of cardholders were women. By December, that percentage grew to 42%. Based on that data, Cornerstone estimates that 80% of new Apple Card customers in 2020 were women.

The data also suggests that consumers in their 20s and 30s make up 70% of Apple Card users. However, Baby Boomers grew to 8% of Apple Card's customer base by the end of 2020, up from 3% at the start of the year.

Apple in March added the ability to have multiple users on a single Apple Card account -- including children and spouses -- with the introduction of a feature called Apple Card Family.
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Comments

  • Reply 1 of 23
    MplsPMplsP Posts: 3,236member
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 
  • Reply 2 of 23
    willettwillett Posts: 25member
    Did you try ‘export’ to Quicken?

    https://support.apple.com/en-us/HT211236
    edited May 5 NYC362mike1DnykjpRfC6fnBsGeorgeBMacsteven n.watto_cobra
  • Reply 3 of 23
    mike1mike1 Posts: 2,734member
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 
    Simply not true. 
    GeorgeBMacanantksundaramwatto_cobra
  • Reply 4 of 23
    My wife and I both have an Apple credit card and if we are buying something from Apple to get the 3% cash back or Apple Pay for the 2% cash back, it never gets used. I have a chase freedom and capital one quicksilver that gets 1.5% back on all purchases and sometimes they have deals for account credits or Discover like until the end of May I’m getting 5% cash back for gas so not enough incentive for us to make it an everyday card we would constantly use. Yes we keep our balances paid off. 
    edited May 5 welshdog
  • Reply 5 of 23
    XedXed Posts: 1,026member
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 

    edited May 5 GeorgeBMacrandominternetpersonanantksundaramwatto_cobra
  • Reply 6 of 23
    robertwalterrobertwalter Posts: 273member
    To get those quarterly rebate boosts don’t you have to go to the discover site or app and activate it? Used to be like that. An old man I know didn’t want to move to the Costco because he thought those quarterly boosts happened automatically. It was about 3 years ago and I confirmed that he wasn’t getting any of these because he doesn’t have a way to go on line.
  • Reply 7 of 23
    GeorgeBMacGeorgeBMac Posts: 10,262member
    My wife and I both have an Apple credit card and if we are buying something from Apple to get the 3% cash back or Apple Pay for the 2% cash back, it never gets used. I have a chase freedom and capital one quicksilver that gets 1.5% back on all purchases and sometimes they have deals for account credits or Discover like until the end of May I’m getting 5% cash back for gas so not enough incentive for us to make it an everyday card we would constantly use. Yes we keep our balances paid off. 

    I do pretty much the same:   Apple Card gets used for all Apple Pay transactions which are 90-95% of my brick & mortar store purchases & some online stuff.  Chase Freedom is dedicated to recurring purchases.  And Discover gets used where Apple Pay is not yet accepted and for its 5% discounts.

    It works out that each get roughly a third of my spending with the Discover card the lowest of the bunch.
  • Reply 8 of 23
    GeorgeBMacGeorgeBMac Posts: 10,262member
    To get those quarterly rebate boosts don’t you have to go to the discover site or app and activate it? Used to be like that. An old man I know didn’t want to move to the Costco because he thought those quarterly boosts happened automatically. It was about 3 years ago and I confirmed that he wasn’t getting any of these because he doesn’t have a way to go on line.
    That stuff happens.
    I had/have a PNC card that was supposed to get 1%.   But then I discovered it did not get anything on recurring purchases when I investigated why my rewards were so low.
    I stopped using the card completely (well -- I put $10 a year on it now).   And, I have mostly abandoned the bank:   I don't like their lack of transparency.
  • Reply 9 of 23
    GeorgeBMacGeorgeBMac Posts: 10,262member
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 

    Yes, it used to be like that.   But, as others have mentioned, they added the ability to export transactions in Quicken format.
    The way I use that is to:   I use my iPhone to export the Quicken transactions to an "AppleCard Transactions" folder in Documents on my iCloud Drive.   Then I open iCloud Drive on my Windows machine and double click on it (with Quicken running) to import the latest file of transactions.   It has been working well.
  • Reply 10 of 23
    "In 2020, the Apple Card made strides among women. At the start of the year, about 25% of cardholders were women. By December, that percentage grew to 42%. Based on that data, Cornerstone estimates that 80% of new Apple Card customers in 2020 were women."

    I find these numbers not credible.  What could possibly explain why women weren't among the early adopters, but now they are flooding in?  I expect the estimates are based on a faulty sampling methodology of some type.  Certainly Apple hasn't done anything differently to suddenly be more appealing to women.
    watto_cobra
  • Reply 11 of 23
    MplsPMplsP Posts: 3,236member
    willett said:
    Did you try ‘export’ to Quicken?

    https://support.apple.com/en-us/HT211236
    mike1 said:
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 
    Simply not true. 
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 

    Yes, it used to be like that.   But, as others have mentioned, they added the ability to export transactions in Quicken format.
    The way I use that is to:   I use my iPhone to export the Quicken transactions to an "AppleCard Transactions" folder in Documents on my iCloud Drive.   Then I open iCloud Drive on my Windows machine and double click on it (with Quicken running) to import the latest file of transactions.   It has been working well.
    For every other card I have I simply hit the 'refresh accounts' button on quicken and everything for all my accounts is automatically downloaded directly from the institution. 

    For the Apple Card, you open the Apple Card app on your phone (you can't even do it on your computer,) export to quicken, then email or text the file to your self to get it on your computer, then open quicken on your computer, find the file and import it. You tell me which workflow is user friendly.

    So yes, my original statement is quite true. There is no easy way to integrate with quicken (or Banktivity, money dance, etc) For some reason Apple is stuck with a legacy protocol was outdated 20 years ago. I could understand initially when they first started offering the card and were getting everything going but this far in they've had time. It may also be Goldman Sachs and not Apple, but either way as an end user it doesn't matter; the result is the same.
    edited May 6 muthuk_vanalingamrandominternetpersonGeorgeBMacshareef777
  • Reply 12 of 23
    MplsP said:
    willett said:
    Did you try ‘export’ to Quicken?

    https://support.apple.com/en-us/HT211236
    mike1 said:
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 
    Simply not true. 
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 

    Yes, it used to be like that.   But, as others have mentioned, they added the ability to export transactions in Quicken format.
    The way I use that is to:   I use my iPhone to export the Quicken transactions to an "AppleCard Transactions" folder in Documents on my iCloud Drive.   Then I open iCloud Drive on my Windows machine and double click on it (with Quicken running) to import the latest file of transactions.   It has been working well.
    For every other card I have I simply hit the 'refresh accounts' button on quicken and everything for all my accounts is automatically downloaded directly from the institution. 

    For the Apple Card, you open the Apple Card app on your phone (you can't even do it on your computer,) export to quicken, then email or text the file to your self to get it on your computer, then open quicken on your computer, find the file and import it. You tell me which workflow is user friendly.

    So yes, my original statement is quite true. There is no easy way to integrate with quicken (or Banktivity, money dance, etc) For some reason Apple is stuck with a legacy protocol was outdated 20 years ago. I could understand initially when they first started offering the card and were getting everything going but this far in they've had time. It may also be Goldman Sachs and not Apple, but either way as an end user it doesn't matter; the result is the same.
    Thanks for clarifying.  I expect that relatively few people actually do this sort of thing.
    watto_cobra
  • Reply 13 of 23
    leehammleehamm Posts: 49member
    Still wondering why I need a state driver's license to apply. A US passport is not accepted. I have a US credit history, from <big US banks>. The credit reporting agencies don't ask for state ID. I do live outside the US but I do a fair amount of spending inside the US. It seems a little strange to rely on the DMV for ID purposes.
    watto_cobra
  • Reply 14 of 23
    XedXed Posts: 1,026member
    leehamm said:
    Still wondering why I need a state driver's license to apply. A US passport is not accepted. I have a US credit history, from <big US banks>. The credit reporting agencies don't ask for state ID. I do live outside the US but I do a fair amount of spending inside the US. It seems a little strange to rely on the DMV for ID purposes.
    I didn't have to verify with a state ID to get my Apple Card.

    It's not strange at all considering that Americans are much more likely to have a driver's license (or state ID) than a Passport. It would be nice if they offered the option of using your Passport for identification, but verifying a Federal document comes with additional hurdles over a state ID.
  • Reply 15 of 23
    GeorgeBMacGeorgeBMac Posts: 10,262member
    MplsP said:
    willett said:
    Did you try ‘export’ to Quicken?

    https://support.apple.com/en-us/HT211236
    mike1 said:
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 
    Simply not true. 
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 

    Yes, it used to be like that.   But, as others have mentioned, they added the ability to export transactions in Quicken format.
    The way I use that is to:   I use my iPhone to export the Quicken transactions to an "AppleCard Transactions" folder in Documents on my iCloud Drive.   Then I open iCloud Drive on my Windows machine and double click on it (with Quicken running) to import the latest file of transactions.   It has been working well.
    For every other card I have I simply hit the 'refresh accounts' button on quicken and everything for all my accounts is automatically downloaded directly from the institution. 

    For the Apple Card, you open the Apple Card app on your phone (you can't even do it on your computer,) export to quicken, then email or text the file to your self to get it on your computer, then open quicken on your computer, find the file and import it. You tell me which workflow is user friendly.

    So yes, my original statement is quite true. There is no easy way to integrate with quicken (or Banktivity, money dance, etc) For some reason Apple is stuck with a legacy protocol was outdated 20 years ago. I could understand initially when they first started offering the card and were getting everything going but this far in they've had time. It may also be Goldman Sachs and not Apple, but either way as an end user it doesn't matter; the result is the same.
    Yeh, good point.   It is less convenient.
    For a couple of my accounts I have to go to the website to get the transactions because the One-Step thing doesn't work.  But even that is quicker & easier than the procedure for the Apple Card.   But, I want to use both the Apple Card and Quicken.  So, I'm glad they made it possible to interface them -- even if it is less convenient.

  • Reply 16 of 23
    mpantonempantone Posts: 1,609member
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 
    The bigger issue is the fact that Apple Card cannot be integrated into online budget services like Mint.com or the ones offered by brokerage firms.

    Of course one could manually split a credit card payment in Mint.com into separate purchase categories (like entertainment, dining, electronics, gas, etc.) but that is decidedly inconvenient and doesn't scale well with heavy Apple Card usage. I did this a couple of times when I first got my Apple Card.

    My last Apple Card transaction was in September 2019. It sits unused in a binder.
  • Reply 17 of 23
    MplsPMplsP Posts: 3,236member
    mpantone said:
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 
    The bigger issue is the fact that Apple Card cannot be integrated into online budget services like Mint.com or the ones offered by brokerage firms.

    Of course one could manually split a credit card payment in Mint.com into separate purchase categories (like entertainment, dining, electronics, gas, etc.) but that is decidedly inconvenient and doesn't scale well with heavy Apple Card usage. I did this a couple of times when I first got my Apple Card.

    My last Apple Card transaction was in September 2019. It sits unused in a binder.
    I think the protocol used by Mint and the other services is the same as that used by Quicken. My guess is once they allow Quicken access then everything else will work as well.

    Thinking about it, Apple/Goldman Sachs doesn't allow direct access to your card data from a web browser; it all has to be through the iOS wallet app. I'm guessing the app uses a different, (possibly more secure) port. I don't know if this is part of the reason for the lack of compatibility or not - just hypothesizing.
  • Reply 18 of 23
    sirlance99sirlance99 Posts: 1,273member
    I got the card but only use it for monthly reoccurring Apple purchases such as cloud storage and such and only because it’s 3%. Otherwise, it sits in a cabinet not being used. All my other cards have way better rewards. Still nice to have for the Apple stuff. 
  • Reply 19 of 23
    BeatsBeats Posts: 2,525member
    Those numbers seem low. How does it compare in this industry?
    anantksundaram
  • Reply 20 of 23
    anantksundaramanantksundaram Posts: 20,222member
    Xed said:
    MplsP said:
    I’ve thought about getting the Apple card but there’s still no easy way to integrate with financial software like Quicken. The lack of a ‘feature’ that is standard for every other card on the market basically negates any savings I would realize over my current cards so it’s a no-go. :neutral: 

    There is no shortage of stupid caterwaulers who regularly show up in this forum.... :-/
    DnykjpRfC6fnBswatto_cobra
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