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Apple and Goldman Sachs to partner on new credit card

Apple and Goldman Sachs to partner on new credit card

Old Mar 29, 19, 8:10 am
  #106  
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Originally Posted by mikesyr18 View Post
....contactless range on those are very weak compared to plastic counterparts..
This would not matter if Apple only want to read the card with the cardholder's own phone.
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Old Mar 29, 19, 12:30 pm
  #107  
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Originally Posted by mikesyr18 View Post
From what I've read here, the contactless range on those are very weak compared to plastic counterparts.
Maybe, but it doesn't seem to have much an impact in my daily use. The bigger problem is that I can only tap one side of the card (but supposedly Chase fixed that on their newer ones).
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Old Mar 29, 19, 12:31 pm
  #108  
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BTW, 42% of people "extremely interested" in applying for the Apple Card, with only 15% showing no interest.

https://appleinsider.com/articles/19...the-apple-card
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Old Mar 29, 19, 1:11 pm
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Originally Posted by tmiw View Post
BTW, 42% of people "extremely interested" in applying for the Apple Card, with only 15% showing no interest.

https://appleinsider.com/articles/19...the-apple-card
It’s amusing that “31 percent felt the lack of fees was the best feature.” They have probably never heard of credit unions. Mostly youngsters in all likelihood, in particular given “there will not be any late ... fees for the card”, as there’s a strong correlation between generations and paying the monthly balance in full by the due date.
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Old Mar 29, 19, 2:25 pm
  #110  
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Originally Posted by tmiw View Post
BTW, 42% of people ....
It's not 42% of the general population. It's 42% of iPhone users, and if informal survey means this was an online survey the results are nearly worthless due to self-selection.
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Old Mar 29, 19, 3:56 pm
  #111  
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Originally Posted by mia View Post
It's not 42% of the general population. It's 42% of iPhone users, and if informal survey means this was an online survey the results are nearly worthless due to self-selection.
Considering that one needs an iPhone to even apply for it, I'm not sure that's necessarily a dealbreaker for a survey.
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Old Mar 29, 19, 4:37 pm
  #112  
 
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Originally Posted by mia View Post
It's not 42% of the general population. It's 42% of iPhone users, and if informal survey means this was an online survey the results are nearly worthless due to self-selection.
The following more substantial survey somewhat ties in to the discussion.

“A survey of 11,000 U.S. adults by Bloomberg News and Morning Consult shows the [Gen Z] generation is more willing than its predecessor to put its money where its values are.”

“They were born after the internet went mainstream; the oldest were about 10 when the iPhone was introduced. “We are the social-media natives.””

““There’s this misconception that we’re scrolling mindlessly.” What Gen Z’s actually doing is connecting and communicating and figuring things out—like where [and how!] to spend their money.”

Corporate America Can't Afford to Ignore Gen Z
https://www.bloomberg.com/amp/news/a...try-asmr-memes
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Old Mar 29, 19, 4:54 pm
  #113  
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I agree that a properly designed and executed survey of iPhone users would give Goldman and Apple an idea of how many metal card blanks to order.
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Old Apr 23, 19, 12:05 pm
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Anyone else receive a survey from Chase asking about their thoughts on the new Apple credit card? It will be interesting to see if this changes things industry-wide. It's only a matter of time before Apple claims they invented credit cards
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Old May 12, 19, 4:36 pm
  #115  
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Looks like some Apple employees are already getting their cards:


The magnetic stripe appears to be upside down though. I'm not sure how that'll work out in practice, but since Apple wants you to use Apple Pay instead of the actual card...
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Old Jul 26, 19, 12:23 pm
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Report: Apple and Goldman Sachs Credit Card Targeting August Launch Date
https://www.bloomberg.com/news/artic...t-release-date
July 26, 2019

"Apple and Goldman Sachs’s hotly anticipated new credit card is now just weeks away from launch, according to a person familiar with the companies. . . .

The Apple Card is targeted to launch as early as the first half of August. . . .

People who own an iPhone will be able to sign up for the card via the Wallet app, which will have built-in Apple Card support as part of the latest iOS 12.4 update. . . .


For Apple, the credit card is thought of as a way to bring in more recurring revenue from iPhone users and further enmesh them in its web of services. . . .

In addition to its stark white appearance and digital-first design, the credit card aims to entice customers with no fees, deep iPhone integration, a unique system for tracking spending and a privacy-centric approach. The product has been designed to be used primarily via Apple Pay, rather than as a physical credit card. However, the company will also issue users an actual card for merchants that don’t accept Apple Pay.

The Apple Card features a cash-back rewards structure instead of points, offering users 1% on purchases made with the physical card, 2% for Apple Pay transactions and 3% for purchases of Apple products or services."

It still seems to have mediocre rewards and, possibly, challenges for using it online. I'm curious to see the full offering. YMMV.
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Old Jul 26, 19, 12:44 pm
  #117  
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Originally Posted by Petdog View Post
It still seems to have mediocre rewards and, possibly, challenges for using it online. I'm curious to see the full offering. YMMV.
My understanding is that you can go to the Wallet app on your iPhone and get the card's PAN, expiration, etc. for use online at merchants that don't do Apple Pay. If anything, I can see Apple/Goldman Sachs actually implementing 3D Secure correctly, which might make it easier to use with foreign online stores (vs. Chase and possibly other US cards).
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Old Jul 26, 19, 1:06 pm
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Originally Posted by tmiw View Post
My understanding is that you can go to the Wallet app on your iPhone and get the card's PAN, expiration, etc. for use online at merchants that don't do Apple Pay.
That generates a virtual card number, which can be optionally autofilled by Safari when making a purchase. A new number can be regenerated at any time.

The only way to get the actual PAN is swipe/dip the card.
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Old Jul 26, 19, 1:29 pm
  #119  
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Originally Posted by pdxer View Post
That generates a virtual card number, which can be optionally autofilled by Safari when making a purchase. A new number can be regenerated at any time.

The only way to get the actual PAN is swipe/dip the card.
Still, since you have to explicitly request a new one, it should be usable at online stores that save cards (e.g. Amazon). Of course, this card isn't the best card to be using at such merchants rewards-wise, but that's a different issue.
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Old Jul 26, 19, 10:01 pm
  #120  
 
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Originally Posted by Petdog View Post
Report: Apple and Goldman Sachs Credit Card Targeting August Launch Date
https://www.bloomberg.com/news/artic...t-release-date
July 26, 2019

.
Ridiculous that the card was announced in March and it's taken this long to roll it out. Just give us a release date already... There's no need to be hush hush.
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