Apple and Goldman Sachs to partner on new credit card
#46
Join Date: Jul 2014
Location: JRF
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I love my Ritz Carlton card as much as the next cardholder with the old-style heavy metal card (the new plastic one is sacrilege), but unless you have an upgrade to Club floor with certain rates fetish the average consumer is much better off with the Apple Card than anything else on the market. You can already see the credit card shilling blogger scum writing hit pieces on the card because obviously there’s no commission money in it for them and no sign up bonus up front but all the benefits are spread out throughout the life of the product with almost no fees, low rates, and a plain simple good earning %. Good for Apple, good for the consumer, bad for smart-aleck hacks that game the system and give nothing back
#47
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,508
I love my Ritz Carlton card as much as the next cardholder with the old-style heavy metal card (the new plastic one is sacrilege), but unless you have an upgrade to Club floor with certain rates fetish the average consumer is much better off with the Apple Card than anything else on the market. You can already see the credit card shilling blogger scum writing hit pieces on the card because obviously there’s no commission money in it for them and no sign up bonus up front but all the benefits are spread out throughout the life of the product with almost no fees, low rates, and a plain simple good earning %. Good for Apple, good for the consumer, bad for smart-aleck hacks that game the system and give nothing back
(BTW, I'm not sure that heavy reliance on credit cards in the US in general is a good thing, even if the majority of people pay their entire balances on time. That's a topic for another thread, though.)
#48
Join Date: Jan 2010
Location: New York and Vienna
Programs: PA WorldPass Platinum, AA, DL, LH. GHA Black, SPG and HHonors Gold
Posts: 3,870
There has been no word (that I know of) regarding statements, if any are to be issued, but I would say that statements are superfluous at least in the traditional sense of a monthly statement.
#49
I love my Ritz Carlton card as much as the next cardholder with the old-style heavy metal card (the new plastic one is sacrilege), but unless you have an upgrade to Club floor with certain rates fetish the average consumer is much better off with the Apple Card than anything else on the market. You can already see the credit card shilling blogger scum writing hit pieces on the card because obviously there’s no commission money in it for them and no sign up bonus up front but all the benefits are spread out throughout the life of the product with almost no fees, low rates, and a plain simple good earning %. Good for Apple, good for the consumer, bad for smart-aleck hacks that game the system and give nothing back
Even the investor market is disappointed. AAPL stock has been down....
#50
Join Date: Jun 2014
Posts: 207
Credit card is not an efficient market; otherwise any sub 2% card won't exist. The 1.5% freedom unlimited seems to be co-existing pretty well with both of the 2% visa and mastercard. No reason the apple card can't be successful with its 2%/1% reward structure.
#51
I mean, the 1% for non-Apple Pay purchases is pretty poor for a cash back card. Something like Citi DC or Fidelity's card would be better for someone from the general public, even if it takes a billing cycle to get the cash back credited. If you're already in the Apple ecosystem, however, and you can use AP for close to everything, it might be an okay option.
(BTW, I'm not sure that heavy reliance on credit cards in the US in general is a good thing, even if the majority of people pay their entire balances on time. That's a topic for another thread, though.)
(BTW, I'm not sure that heavy reliance on credit cards in the US in general is a good thing, even if the majority of people pay their entire balances on time. That's a topic for another thread, though.)
#52
Join Date: Jul 2012
Location: RDU
Programs: DL(PM), UA(Silver), AA(EXP) Marriott(Ti), HH(Gold), Hertz(PC)
Posts: 2,669
I carry just two physical cards with me, and about eight in my iPhone wallet. I use my iPhone to pay as often as I can, fortunately most of the stores I visit regularly support NFC (BJ's, Costco, Food Lion, Target, Supercuts, a handful of restaurants I tend to visit at lunch).
#53
I carry just two physical cards with me, and about eight in my iPhone wallet. I use my iPhone to pay as often as I can, fortunately most of the stores I visit regularly support NFC (BJ's, Costco, Food Lion, Target, Supercuts, a handful of restaurants I tend to visit at lunch).
Some of the store cashiers are afraid of the phones since they can't see the real cards and real names. Sometimes they even ask to check driver license.
This Apple card will cause even more problems since there is little info on the real card, no card number etc....
#54
Join Date: Jun 2002
Posts: 960
#55
Join Date: Jul 2012
Location: RDU
Programs: DL(PM), UA(Silver), AA(EXP) Marriott(Ti), HH(Gold), Hertz(PC)
Posts: 2,669
The only place where I have to show any kind of ID card is at Costco (their membership card). BJ's (a membership warehouse) is fine with storing the bar code on the phone and scanning it from there.
#56
Join Date: Jul 2012
Location: RDU
Programs: DL(PM), UA(Silver), AA(EXP) Marriott(Ti), HH(Gold), Hertz(PC)
Posts: 2,669
#57
Join Date: Apr 2018
Programs: Starwood, Marriott Rewards
Posts: 56
#58
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,508
The terminals themselves were installed back in 2015ish. Maybe not absolutely new, but they aren't ones that are close to being EOL either.
Also, Walmart Pay involves the user scanning the QR code on the self-checkout display or on the terminal. Nothing special is required on Walmart's end otherwise.
I'm thinking this is why, and not the fact that you were trying to use Apple Pay. (I've also never had this happen for regular purchases.)
Besides the people going into debt thing (which I'm not sure of the numbers), there's also the possibility that it might delay our going fully cashless. After all, a lot of stores absolutely hate the whole concept of interchange and have been doing various things to fight against the payment networks.
(And this doesn't even get into the US' relatively large unbanked/underbanked population, either, which is fueling recent moves to ban cashless stores.)
Also, Walmart Pay involves the user scanning the QR code on the self-checkout display or on the terminal. Nothing special is required on Walmart's end otherwise.
I'm thinking this is why, and not the fact that you were trying to use Apple Pay. (I've also never had this happen for regular purchases.)
Besides the people going into debt thing (which I'm not sure of the numbers), there's also the possibility that it might delay our going fully cashless. After all, a lot of stores absolutely hate the whole concept of interchange and have been doing various things to fight against the payment networks.
(And this doesn't even get into the US' relatively large unbanked/underbanked population, either, which is fueling recent moves to ban cashless stores.)
#59
Join Date: Aug 2015
Location: SFO
Programs: AS 75K (OW), SK Silver (*A), UR, MR
Posts: 3,347
#60
Join Date: Dec 2018
Posts: 75
If you use Apple pay a lot it's halfway decent. I can see people getting the card because it's "Apple" and because of the gimmicky Titanium card.
The app actually seems pretty cool, i'd imagine it works similar to something like Mint but fully integrated. When you use programs like Mint you can never get everything setup 100% perfect since they are getting their info from multiple outside sources. With the Apple card being fully integrated into the app i'd imagine it would work pretty seamlessly. Pretty solid if you need a budgeting tool and plan to use this card for most of your purchases.
Not really for the people on these forums but maybe if they offer some additional perks in the future like AMEX type deals
The app actually seems pretty cool, i'd imagine it works similar to something like Mint but fully integrated. When you use programs like Mint you can never get everything setup 100% perfect since they are getting their info from multiple outside sources. With the Apple card being fully integrated into the app i'd imagine it would work pretty seamlessly. Pretty solid if you need a budgeting tool and plan to use this card for most of your purchases.
Not really for the people on these forums but maybe if they offer some additional perks in the future like AMEX type deals