6502

mpantone said:

6502 said:

I'm familiar with how credit cards work. Yes, Apple used to allow their logo to be slapped on someone else's credit card (I had the citibank one in the 90's) but this is different. Apple put tons of resources and marketing into it and it is known as the "Apple credit card" not the Goldman Sachs Visa with Apple rewards.

So they are putting extra effort into it to make it a more successful partnership. That's fine and while it might be new for Apple, it certainly isn't knew to the consumer credit card industry. United Airlines bombards my snail mail USPS mailbox with offers for their United Explorer card.

6502 said:

All credit cards have very high security and you're never responsible for any fraud anyway, this is commonplace. I use my card all the time and never had any fraud happen.

Yes, however some people will look at the absence of a printed card number on the physical titanium Apple Card as better security because some server at a restaurant can't just scribble down your card details during the few minutes they are processing your transaction at the POS terminal. And even if one isn't liable for any fraud, one can certainly be inconvenienced by it.

I've had one instance of suspicious activity in the past three years. I immediately reported it to the card issuer and they sent out a card with a new number, but it still takes time to call, explain what happened. Sure I have other cards I can use in the interim but talking to a credit card customer service representative isn't exactly how I really want to be spending my time. Perhaps you are different.

6502 said:

Mint, Cricket, whatever, the service was not my point. I can get 4 lines (for my family) with unlimited LTE for $100/mo at Cricket. Mint charges the same but you have to prepay for a year and only get 12 GB/mo.

Again, a good example why you shouldn't be speaking on behalf of everyone. Your situation is different than mine and I don't have a family. I don't need unlimited LTE. I just need about 1.5 GB per month. If I can find a cheaper plan that still fits my needs, your plan is meaningless to me.

StrangeDays said:

6502 said:

StrangeDays said:

sflocal said:

These folks should be working on rebuilding their credit/financial lives instead of applying for more credit cards.

Hey do you say the same to the entire construction and commercial development industry, which is based entirely on credit? Huge swaths of corporate America is run on credit, not cash. They do the exact same thing people do. And guess what happens when they fail or file bankruptcy? Creditors lose out. But you know what happens to the actual people running those corporations? The executives? Nothing. Absolutely nothing. 

In reality it is normal citizens, non-corporate people, who suffer in lending. Corporations aren't people and as such do not experience suffering. Irresponsible executives continue to become personally wealthy.

This is the nature of the rigged economy. Corporations don't suffer failure the way small fry do.

It's a little bit different taking out a loan to build a house or skyscraper vs. a loan to go on a vacation or pay for dinners out. One is way more secured and lower risk than the other. Don't take out loans and you'll never have any issues about not being able to pay. Studies have shown 100% of bankruptcies are on those with loans.

How exactly do you know what all of America spends on their credit cards? As a small-business owner, I know from first-hand account that a lot of people use credit cards for all facets of life and commerce -- not just your imagined fun stuff. My point stands -- most of world commerce is based on credit, not cash, so getting preachy about spending only in cash is ignorant of how the world actually runs. We have set a double-standard for corporate-people versus human-people. The consequences for corporate citizens to blow their loans is almost insignificant, compared to the hardship actual individuals suffer for the same.*

*When my most recent small business failed, I had to take on all the debt and responsibility via personal guarantees. Bankruptcy protection won't alleviate in my circumstances. If I were a much larger corporation, these losses would be absorbed by others, and the human executives would continue to receive personal wealth despite incurring massive losses. This system is how the wealth protect their personal assets while taking on massive risks. 

StrangeDays said:

chemengin1 said:

It all makes sense now why this card is such an abysmally mediocre offering. There is a reason why high end credit cards (e.g, Chase Reserve) only approve those with solid credit.

No annual fee, 2% cash back on all AP NFC transactions. 3% on Apple stuff. That isn't abysmal. 

Normal consumers have multiple cards for different use cases. I'm failing to understand what your problem is with this use case.