shahhet2
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Goldman Sachs spends $350 for every Apple Card signup
Soli said:ITGUYINSD said:Soli said:chemengin1 said:emoeller said:chemengin1 said:rob bonner said:Not trying to be negative on this, really asking. Why would anyone want this card? The rate is pretty high, the integrations are interesting but don't really add that much value IMO, and I can use Apple Pay with my existing card. What is the draw?
1) Extremely secure. There is no fixed card number, and if the physical card is used and a card skimmer or waiter steals your card number and pin, a number can be created instantly. So there is no interruption in use of the card.
2) No Tracking. You are not identified by the retailer by name or by card number. They only receive meta-data, they cannot track you (unless you want them to by signing up for some "deal" in which you have control over what information you give them)
3) Having instant info on spending is very handy, and provides for instant recognition if charges are incorrect, thus allowing for immediate corrections.
4) Reasonable interest rate (mine was a high limit with a 12.99% interest rate). Not a big deal of me as I pay off my balance every month.
5) Complete control over payments. I simply set mine up to auto pay from my bank at the end of each month. I don't incur any interest charges and I'm sent notifications well in advance so I can balance my bank statements.
6) Very detailed (and very Apple designed) infographics on spending by category and retailer. Also the info on the retailer is in plain english with business name, address, map, and contact info. Very handy for looking back at what I purchased and from whom.
7) There are no fees, and no late fees, or currency fees.
8) Ties to my Apple Cash account, and of course there is the instant cash back features
9) So far so good, I've made a couple of transactions and set up auto pay. I will evaluate how this works for me (about 65% of all retailers in the US now accept Apple Pay/Card) to see if this is something I want to use long term. But I know from experience that Apple Pay works extremely well and fast at checkout, especially using my Watch, so all of my Apple Pay will be done using this card going forward.
10) Longer term I can see using this card (or something like it) to manage all of my payments (retail purchases, mortgage, other credit card balances (not available now), utilizes etc, etc) from a single source while I am mobile.
2. See above. Encrypted meta-data during payment is the norm already.
3. Nearly all credits cards today post your pending purchase in your account immediately, with the charged amount. Immediate corrections are not necessary (credit card payments are not due for a minimum of 30 days after payment. Reversal of fraudulent charges can typically be handled in that time frame).
4. Not a big deal for those who pay off in full each month.
5. Nearly every card today allows for auto pay and has notification settings.
6. Mint.com allows you to see your spending by category/retailer on ALL of your credit cards at one time. This is a significant advantage over the Apple Card because people are interested in their total spend, not just their spend on one individual card. Apple Card will NOT be able to be linked to any budgeting app (Mint, Quicken, etc) - a massive deal breaker.
7. An infinite number of credit cards are available today with no fees.
8. 1-3% cash back today or in 30 days is not significant.
9. Most cards available today can be added to Apple Pay.
In short, there is no added draw whatsoever.OMG! Still trolling with the same lies. Pathetic.
Anyone who enters any of his/her Citi/Chase/AmEx/Visa/Master card to Apple/Google pay and later use to pay via Apple Pay, card number gets tokenized, so what advantage does Apple Card has?
As a matter of fact almost every reputable stores toknizes(lvt or hvt) their transactions as that is mandated by the processors like Chase/WorldPay etc.
Use case for Tokenization is to not transfer your actual credit card number/PAN but rather pass either HVT tokens (Replaces 16 digit card number) or LVT tokens(Card number gets replaced by digits and characters)
This is not something new that Apple has invented.
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Goldman Sachs spends $350 for every Apple Card signup
StrangeDays said:chemengin1 said:StrangeDays said:rob bonner said:Not trying to be negative on this, really asking. Why would anyone want this card? The rate is pretty high, the integrations are interesting but don't really add that much value IMO, and I can use Apple Pay with my existing card. What is the draw?
That doesn’t mean I’ll use it for everything, of course.
The interest rate is quite poor (24% for good credit), but I don’t plan to carry a balance.
Apple products can often be found on Amazon at equal or lower price than Apple.com and paid with Amazon Credit Card for 5% back.
Itunes gift cards can easily be found online for at least 5% off.
So what's the advantage?
I don’t buy my Apple gear from Amazon. Nor does that cover App Store, iTunes, iCloud, etc which are 3%.
So the advantages for me are there. If you’re pretending I’m saying it’s the only card for everybody for all use cases, you’re being silly.
Citi Double CashbacksFidelity Visa SignatureCapital One Quick Silver
I am sure you will come back with item that is unique to apple card to make an argument. -
Apple debuts subscription 'Apple News+' integrating magazines & other publications
If this include actual WSJ subscription, then it's good.
But as per the some comments from WSJ, "The available Journal content will include general ‘news, politics and lifestyle’ but business and finance news will be de-prioritized."
If that just means no business news but more like politics news/lifestyle, then I don't subscribe to WSJ for that.
Let's see.