chemengin1

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?

There is none (being serious). 

This is only the third credit card I have ever had (the other two are AMEX and Visa).  Here are the reasons I chose to sign up:

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.

1. Nearly all credit cards available today with EMV (chip) are equally as secure (data is encrypted when inserting your chip). Also, many people link their cards to Apple Pay and pay via NFC, which is also equally as secure. The instant number creation is not related to stolen Apple Cards. It is used for making purchases online. If your Apple Card is stolen, you must report it, freeze it, and request a new one. 

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.

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?

2% cash back on NFC, 3% on all Apple products and services, no annual fee. Why wouldn’t I want to use it for my Apple Pay card?

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. 

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?

There is none (being serious). 

This is only the third credit card I have ever had (the other two are AMEX and Visa).  Here are the reasons I chose to sign up:

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.

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?

Soli said:

eightzero said:

One of the things I dislike about some cards is their rules regarding redemption of rewards. Apple Card solves this in spades. I find it unreasonable for cards to prohibit redemption of rewards until $25 has accrued, and this feature in Apple Card will likely make me switch and cancel those other cards.

While others talk about how they get the same 2%, like from Capital One's Double Rewards Card, but then they fail to note that it's 1% only after the charge cycle is over and then then the other 1% only after you've paid off that balance.