6502

anantksundaram said:

6502 said:

anantksundaram said:

6502 said:

anantksundaram said:

6502 said:

ElJeffe said:

6502 said:

ElJeffe said:

6502 said:

ElJeffe said:

Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.

If you think the Apple Card is a game changer, you've set a very low bar.

And your indifference to the shift will be looked at as part of the problem that Apple just solved for an industry it didn't NEED to be involved in. Apple doesn't make moves and involve itself in things if it doesn't feel like it can make a significant (read profitable) change in a significant way. This big dog doesn't get off the porch unless there is a need. You staring at the enormity of the dog and saying " psssshhht! I've seen bigger dogs" Misses the point a little. You pulling the curtain back and pointing to the Great Wizard, 5 minutes into the movie, misses the point a bit. It's all Meh bro, life isn't that complicated. Your indifference and nonchalantness isn't all that earth shattering, in fact Microsoft and IBM used to say "they only represent less than 3% of all computer users..." too. How is that indifference working out for them?

So Apple is now a martyr for saving the credit card industry? My credit card is a next to nothing part of my life. I charge things on it, pay it off when due and don't think twice about it. This is not what made Apple great.

LOL You sir are not the average consumer. Congrats on WINNING! Apple isn't a martyr. They won't die because of this. They will however, usher in a changed ecosystem that never existed before. They will usher in a new and easier way for the "average consumer" to interact with their finances. Bro clearly this isn't a big deal to you. However, your incredible money skillz aren't who this is for. This is for the average user. This is for the masses. This just took your "I'm winning at life cuz I can finance..." and made it easier for the average user to win. GAME CHANGER. Your once venerable DOS Command Line user skillz have just been fossilized. Welcome to irrelevance. 

So it's for people who buy stuff they don't need, with money they don't have to impress people they don't like (to quote Dave Ramsey). In other words, imbeciles.

The worst kind of imbecile is one who does not understand the opportunity cost of using one’s capital.

When someone says “I never take on debt,” they simply have no clue how they could have invested their capital to earn a higher rate of return, and therefore how, by avoiding debt, they’re incurring an opportunity cost. 

I recommend some Econ 101. 

And you're forgetting about risk. Why doesn't everyone remortgage their paid off house and invest the money? I recommend some high school econ.

Too bad that the autarkic barter economy doesn't exist in your primitive financial world...

My financial world may be primitive, but it's gained me several million dollars and I sleep like a baby at night. I don't worry about margin calls, or not being able to pay my debts. To me that's worth a lot.

Anyone who buys stock on margin is, indeed, an imbecile -- most brokerages charge personal investors 6%-7%. But that's not what you've been talking about. You've been berating people for borrowing mortgage debt at 4.5% (pre-tax), which makes no sense (given your supposed financial savvy).

Moreover, your arrogance is laid bare by the stupid comment that you "sleep like a baby at night." Does it occur to you that is for exactly the same reason that, some people who may not have the ability make ends meet during the last week of the month might decide to not pay off 100% of their cc charges by the end of the month? 

Or, is sleep only for arrogant internet twits like you?

StrangeDays said:

I am literally lol at some of these commenters. All of business, from banking to construction to real estate development, is entirely 100% based on lending, credit, debt, and repayment over time with interest. If there was no such thing the world economy would be in tatters — because few can afford to build a skyscraper or shopping center or even a house with cash. It has always been this way, and will always be this way. But sure, preach on with your cute debt-free piggy banks. Doesn’t change a thing in the real world.

anantksundaram said:

6502 said:

anantksundaram said:

6502 said:

ElJeffe said:

6502 said:

ElJeffe said:

6502 said:

ElJeffe said:

Apple the most disruptive corporate force in entrenched business practices. They shook the Computer Industry to its core and changed the way people interacted with computers. They did this by changing the basic philosophy and premise of computing. They personalized it. Game Changer. They did it with music, how it was distributed, how it was carried, how it was consumed. Game Changer. Now they are bring that same disruptive force to the financial industry. Credit Cards have been pretty pedestrian for decades. They have been entirely industry (financial industry driven) as a result the ways they have tried to interact with their consumers have been more and more driven by their self interest with little concern for the consumer experience. AppleCard... Game Changer.

Does it break the mold for rewards? Nope. Does it break the mold for cost? Nope. Does it break the mold for all things reward driven Credit Card? Nope. It just thinks different and delivers a better consumer experience in delivering it. Apple just Apple-ized Consumer Credit. 10 years from now we will all look back and say "of course making it easier for Credit Approval should be this easy. Of course all of the things that AppleCard just delivered to consumer finance should have been implemented." Except Chase, Bank of America, Well Fargo, and a myriad of other Financial Industry Titans could have done it but didn't. They had to have the foundation of their business model moved beneath them by Apple.

Troll away with, how "Meh, my card does all that already. Big Deal! Why are Apple fanbois such tewls?", indifference. DOS command line users used to LOVE how easy it was to do things too. Now we all just do things differently. We all just do things differently, more intuitively, and simply, since Apple decided to innovate the processes.

If you think the Apple Card is a game changer, you've set a very low bar.

And your indifference to the shift will be looked at as part of the problem that Apple just solved for an industry it didn't NEED to be involved in. Apple doesn't make moves and involve itself in things if it doesn't feel like it can make a significant (read profitable) change in a significant way. This big dog doesn't get off the porch unless there is a need. You staring at the enormity of the dog and saying " psssshhht! I've seen bigger dogs" Misses the point a little. You pulling the curtain back and pointing to the Great Wizard, 5 minutes into the movie, misses the point a bit. It's all Meh bro, life isn't that complicated. Your indifference and nonchalantness isn't all that earth shattering, in fact Microsoft and IBM used to say "they only represent less than 3% of all computer users..." too. How is that indifference working out for them?

So Apple is now a martyr for saving the credit card industry? My credit card is a next to nothing part of my life. I charge things on it, pay it off when due and don't think twice about it. This is not what made Apple great.

LOL You sir are not the average consumer. Congrats on WINNING! Apple isn't a martyr. They won't die because of this. They will however, usher in a changed ecosystem that never existed before. They will usher in a new and easier way for the "average consumer" to interact with their finances. Bro clearly this isn't a big deal to you. However, your incredible money skillz aren't who this is for. This is for the average user. This is for the masses. This just took your "I'm winning at life cuz I can finance..." and made it easier for the average user to win. GAME CHANGER. Your once venerable DOS Command Line user skillz have just been fossilized. Welcome to irrelevance. 

So it's for people who buy stuff they don't need, with money they don't have to impress people they don't like (to quote Dave Ramsey). In other words, imbeciles.

The worst kind of imbecile is one who does not understand the opportunity cost of using one’s capital.

When someone says “I never take on debt,” they simply have no clue how they could have invested their capital to earn a higher rate of return, and therefore how, by avoiding debt, they’re incurring an opportunity cost. 

I recommend some Econ 101. 

And you're forgetting about risk. Why doesn't everyone remortgage their paid off house and invest the money? I recommend some high school econ.

Too bad that the autarkic barter economy doesn't exist in your primitive financial world...

slurpy said:

6502 said:

gilly33 said:

6502 said:

Funny to watch people get so excited about something as mundane as a credit card. Up next, the Apple shoelace! I use my costco card at costco and my 2% back citi MC everywhere else. I don't really care if I miss out on an extra 1% back on a $30 purchase. That extra $0.30 won't make a difference in my life. Outside the iPhone (and less so the Mac), Apple is turning into a company I care less and less about. But, I did make a lot of money on their stock  

Listen companies evolve and they change. IBM don’t make meat slicers anymore do they? I suspect until technology catches up with designers’ vision the first iPhone experience won’t be repeated anytime soon. Hope I’m wrong about intriguing new hardware but this service side of Apple is quite exciting. Let’s hope both aspects of this great company comes together in ways we can definitely enjoy. 

On the service side, apple is just playing catch up to the rest of the industry.

You're really a pathetic, sad troll.  Just like every other industry, Apple is getting into this one to meaningfully improve it, and disrupt common and anti-consumer practises that have been around for decades. A credit card is comparable to a fucking shoelace? Also, Apple is playing "catch-up"? I love this ridiculous meme. Because if Apple is not always offering the sum of every SINGLE service offered by every single company past and current, then they're "playing catch up", right? What an idiotic, short-sighted, irrational, insane mentality. The scope of products and services Apple provides is absolutely massive, especially in terms of the execution and user base. If they come in with a SUPERIOR product (as they almost always do), then they can "catch up" all they want. It's irrelevant. Apple has never been the one to shit out products out the door as fast as they can to be "first", and they never will be. It's telling that that's all you want to focus on. 

Funny how Apple is one of the most loved and successful companies on the planet, even in a state of perpetually "catching up" as you claim. 

Oh, and caring less and less about a company that is always expanding their portfolio of services and products, and improving them, is some kind of strange anachronism and paradox. And that's on you, not on Apple. Obviously there's nothing they can fucking do that would make you "care" more, cause you're a troll. 

larz2112 said:

6502 said:

larz2112 said:

StrangeDays said:

6502 said:

StrangeDays said:

wizard69 said:

Soli said:

sirlance99 said:

hmlongco said:

sirlance99 said:

Standard isn’t always best when many cards have better rewards than 2%. Also, my standard purchases are extremely low compared to other categories. There’s practically nowhere that I purchase things that I can’t get at least 3% back and up to 5% on most things. 

Depends on how one defines "best", doesn't it? The Amazon Prime Store Card, for example, gives you 5% back... with a 28.24% annual APR.

Apple committed to a low (albeit unspecified) APR, with no fees, no late charges, and no penalties. Not to mention the not-so-minor fact that you get your rewards back daily as Apple Cash. Not at the end of the month, not when you redeem them. Daily.

Then there's the secure unique randomized card number per transaction. No number or signature to steal on the physical card. No tracking of purchases. No sales of transaction data.

I don't know about you, but there's a ton of value in privacy and security.

Fees and APRs don’t matter if you pay your balance in full. 

You realize that being able to pay off your cards every month isn’t the norm, right?

If you think the “norm” is being stupid then we have a problem.  By the way I learned this the hardway and have drastically changed my use of a credit card.    At this point I try to keep all card purchases beyond an emergency  at a level easily payable every month.   The average person can literally save themselves hundreds of dollars a year by doing so.  

Frankly it wouldnt hurt for our educational system teach students why being conservative in your use of money is so important.  

Whether you believe it's stupid or not is completely irrelevant. Most people cannot pay off their cc every single month, and use it to get by when they need to. It's not even a matter of intelligence, I assure you.

Maybe you shouldn't buy what you can't afford then. And, I doubt it's most people.

You're free to doubt whatever you like. I worked for Capital One corporate for years and will believe and share what I experienced. Again, it's not about your ivory tower morality judgements from on high. It's about the reality of the economy -- the once booming middle-class is being eradicated, and the segments that are growing are low-income, and the very-high income. ie, the rich get richer while the poor get poorer. The middle-class and the promise of the American dream of my parents and grand-parents age where a single-earner need only show up and work hard to get that house and two cars is long gone. 

Bingo! The elitist and judgemental comments being posted, i.e. "Maybe you shouldn't buy what you can't afford then" is sad and only serves to illustrate how out of touch and/or ignorant some people can be. 

I agree that for several decades the middle class has been eroding, and as a result many more people are living paycheck to paycheck. I am fairly certain that the majority of Apple Insider readers, including 6502, Wizard69, and sirlance99, do not have to struggle with living paycheck to paycheck. 

Because of this, they probably don't understand how difficult it can be for those living paycheck to paycheck to avoid using a credit card to pay for major, unexpected expenses such as car repairs, emergency dental work, replacing a major appliance that suddenly died, etc.  And since they are living paycheck to paycheck, they can't just pay off the credit card balance in 30 days. Instead, it takes them months to pay it off, all the while paying interest, and all the while praying that another major, unexpected expense does not occur before they can pay off their credit card balance. Unfortunately for some, another significant unexpected expense occurs and pushes them deeper into credit card debt. 

So yeah, for those people no annual fee and a low APR matters a lot. 

Stop playing the victim. You must be a millennial. Woe is me, woe is me. I moved to CA for a job with a few thousand in my bank account, and worked hard to where I'll likely never have to worry about money again considering my very modest lifestyle. But, guess what, when I had no money I didn't buy shit I couldn't afford, never ate out, never got starbucks, drove a shit car (still do), lived in a shit apartment and on and on. I watched youtube on how to fix my own car or anything else that broke. But, I never went in credit card debt. Time to grow up.

"Stop playing the victim". Wrong. I pay my CC balance off every month and pay no interest. "You must be a millennial". Wrong again. Not everyone with credit card debt is financially irresponsible. Those who live paycheck to paycheck constantly live on the precipice of debt. When an unexpected major expense occurs they can't just dip into their savings to cover the cost as most of us can do. If they need a root canal, or the fridge breaks, or they lose their job, they have little recourse but to turn to a credit card to make ends meet. And once that happens, for many it's like quicksand as the interest builds up. You were diligent and lucky enough to work your way out of lean times and make it to the other side. Many aren't as fortunate, and it's not always due to them being financially irresponsible. It's easy and convenient to vilify everyone in credit card debt as irresponsible spenders, but that is simply not the case.