Apple Card is built into the Apple Wallet app on iPhone, offering customers a familiar experience with Apple Pay and the ability to manage their card right on iPhone.
@kunalslab Anyone else sick of the amount of time it takes the chip to be read and approved? Some places seem to take much longer on average than others too. Duane Reade = 20 sec. Chipotle = 5 sec.
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@kunalslab@coconidodev maybe the secondary device is an iPad? ;) seriously though, I personally really like Apple devices but I wouldn’t want one as my main driver.
@coconidodev@anna_0x precisely! iPad and a MacBook. I use an Android phone (coincidentally also titanium) as my primary device to stay ambidextrous with my OS design knowledge.
I feel like Apple made this very appealing and oversold some aspects
- 2% cash back. Amazing. Larger than almost any card out there. Points that most other cards use is a confusing conversion rate you need to deal with that typically doesn't work out as good as it sounds.
- No late fees. Correct. But they still charge 13% - 25% APR. Lots of people are going to get confused here.
- Titanium. It feels good tossing down a heavy, metal card when you're paying your bill. AmEx Black proved this. It's going to make people more likely to throw down their Apple card vs using another or paying cash.
- Security and customer service: This is likely going to force a lot of other CC companies to up their game in terms of dealing with issues. Today if you have a problem being improperly charged by an App, they refund your money and take it up with the developer. Is that how it will work with payment vendors? Will become very abused, if so.
@dannywu Nice and minimal! 😄 Details are stored inside the iOS Wallet app
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13% - 25% APR? Seems way too high.
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@ajalota Seems like average to be honest. Unless you have an annual fee, I don't think rates get much lower.
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@tostartafire you're right, it is avg. For some reason I didn't expect Apple to be associated with being a loan shark. lol
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It's interesting to see how this ended up being the product everyone is excited about, instead of News+ and TV+. Maybe a Space Grey Apple Card Pro with travel benefits could be in the works?
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It says no card numbers on the card. Assume I'll be able to see the card number somewhere? For scenarios like non ApplyPay ready online retailers like Amazon.
Good move for Goldman Sachs in consumer banking.
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@viviant you will surely be able to see the numbers in the app. I guess it is more secure to not have them on the actual card.
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@anna_0x Yep. Apparently there's a virtual number in the Wallet app, and it auto refills in Safari.
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It'll be interesting to see how other credit cards responds, though the 1% isn't that competitive to use this as an everyday card. Compared to Chase and Citi and more, which have cash back at 1.5% and 2%.
@nehayward 2% for Apple Pay though – depending on where you're living, that sounds decent. Wish this was going to be available outside the US at launch though
24% APR.That's 2x the industry standard. That wasn't exactly advertised today, but it's important to understand before getting it. In any case, pretty cool developments all around today.
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Join a credit union that supports Apple Pay instead.
Pros:No selling of transaction data
Cons:Backed by Goldman Sachs, which has an extensive history of unethical practices
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