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3 card monte?!....details for the new upcoming Apple credit card......
Posted by: NewtonMP2100
Date: March 27, 2019 03:02PM
.....further detail.......


Apple Card: All the Details on Apple's Upcoming Credit Card

.......Later this year, Apple is going to launch a new credit card that's linked to Apple Pay and built right into the Wallet app, which iPhone users can sign up for. Apple is partnering with Goldman Sachs for the card, which is going to be optimized for Apple Pay but will still work like a traditional credit card for all of your transactions.

There's a lot of fine print associated with the new Apple Card, so we've created this guide to provide details on what you can expect when it launches in the fall.

Signing Up for Apple Card

According to Apple, signing up for Apple Card will be as simple as opening up the Wallet app, tapping on the Apple Card interface, and walking through the activation steps.

Once you've signed up for Apple Card, it will be available for use immediately for digital purchases, suggesting Apple will have some kind of pre-qualified application process in place. Apple says availability is subject to credit approval, so you need to qualify for Apple Card just like you do with any other credit card.

For traditional purchases, you will need to wait until Apple ships you the physical Apple Card.

Using Apple Card with Apple Pay
Apple Card is designed to work with any other credit or debit card stored in the Wallet app for use with Apple Pay. You can set it as the default card and use it for in store purchases on iPhone and online purchases on Apple Watch, iPhone, iPad, and Mac.

Using Apple Card for Non-Apple Pay Purchases

If you need to pay for purchases that can't be made with Apple Pay, you can use the physical version of the Apple Card that Apple sends once you sign up.

In addition to Goldman Sachs, Apple is partnering with Mastercard, so the physical Apple Card can be used wherever Mastercard is accepted. Mastercard is fairly ubiquitous around the world, so the Apple Card should be accepted wherever Mastercard is available.

The Titanium Apple Card

With Apple Card you can make digital Apple Pay payments, but Apple is also providing a physical card. Since this is a credit card designed by Apple, it is, of course, unique among credit cards.

It's made entirely from titanium, which is laser etched with your name. The front of the card does not have a card number or an expiration date listed, and on the back, there's no CVV and no signature. If someone finds or steals your card, there's going to be no real way for them to use it, at least for online purchases.

There's still a traditional magstripe on the back, along with a built-in chip for chip and pin purchases. While the card number and CVV are not on the card itself, you can find them in the Wallet app if you need them.

Credit Limits

As with any other credit card, there is a credit limit for Apple Card that will vary from person to person. A better credit score means a higher credit limit, and credit limit also increases over time.

Fees

Apple says there are no annual fees, international fees, fees for making a late payment or fees for exceeding your credit limit.

There may be no late fees, but if you make a late or miss one payment, Apple says this will result in "additional interest accumulating toward your balance."

Interest Rates

Apple says Apple Card will offer an APR between 13.24 percent and 24.24 percent based on your credit score. On the low end, that's lower than the national average APR of 17.67 percent, so the card will be a good deal for those with high credit scores.

With lower credit scores, it will be in the range of offerings from other credit card companies. A wide APR range like this means Apple will be making this card available to most people, even those with less than stellar credit scores. There are tools built into the Wallet app to encourage you to pay off your balance quicker to avoid interest fees.

Rewards System

Apple offers a cash back rewards system for the Apple Card, providing daily cash up to 3 percent.

You get 1 percent cash back for all of your purchases, which is just okay compared to many other credit cards available.

On purchases made with Apple Pay, you get 2 percent cash back, a good motivator to use Apple Pay where available.

For purchases made from the Apple Store (physical or online) you'll get three percent back. This also includes purchases made from the App Store, iTunes Store, and Apple services.

Daily Cash

One of the perks of Apple Card's rewards system is "Daily Cash," with Apple paying out your cash back bonuses on a daily basis rather than making you wait weeks for them to show up on a statement.

If you've signed up for Apple Cash (the feature that adds an Apple Pay Cash debit card to your Wallet for sending and receiving money from friends) you will get your Daily Cash payouts on your Apple Cash card.

Apple Cash is required for Daily Cash, but if you don't have Apple Cash set up, you'll still get your rewards, just on a monthly basis as a credit on your statement balance.

Apple calls its Daily Cash rewards unlimited, but it will max out at your credit limit. As CNET points out, if your credit limit is $3,000, for example, you can earn a maximum of $90 in Daily Cash until your next billing cycle. If your limit is $10,000, you can earn a maximum of $300 in Daily Cash.

How Daily Cash Can Be Used

Your Daily Cash balance, which is transferred to your Apple Cash card (essentially an Apple debit card) can be used for Apple Pay purchases, sent to friends or family using the Apple Cash feature in Messages, or transferred over to your bank account.

Apple Cash can be transferred to your bank account at no cost, a process that takes between one and three days. There's also an Instant Transfer feature that will cost one percent of the total money being sent. The Instant Transfer fee has a minimum of $0.25 and maxes out at $10.

Transfers can be initiated in the Wallet app after linking a bank account to Apple Cash.

Spend Tracking and Budgeting

All transactions made with the Apple Card are listed clearly in the Wallet app with color-coded categories like Food and Drinks, Shopping and Entertainment, and more. Apple Card will also offer weekly and monthly spending summaries, again using the same color coding so you can see what you're spending at a glance.

Purchase Notifications

As is the case with many cards added to Apple Pay, when you make a purchase with Apple Card, you'll get an instant notification right on your phone. This will let you know immediately if there's a charge that you don't recognize, and there are built-in tools for flagging a fraudulent purchase.

Clear Transaction Labeling

Apple is using machine learning and Apple Maps to make sure that all of your Apple Card transactions are clearly labeled. If you've opened up a credit card statement and have seen a confusing arrangement of truncated letters and numbers instead of a full merchant name, that's the problem Apple is solving.

All transactions are listed clearly with merchant name and exact location so you can better keep track of what was purchased and where it was purchased.

Payment Tracking

Apple Card will show you multiple payment options and it will calculate the amount of interest that you'll be paying on different payment amounts in real time. Apple says Apple Card will encourage customers to pay a bit more every month to cut down on interest, and it will offer the flexibility to schedule payments in multiple ways - weekly, biweekly, and monthly rather than just monthly.

Privacy

As with any credit or debit card added to Wallet, Apple creates a unique card number on iPhone for Apple Card that's stored in the Secure Element. All payments are confirmed with Face ID or Touch ID along with a one-time unique dynamic security code.

This system means Apple does not know which stores a customer shopped at, what was purchased, or how much was paid.

Goldman Sachs, Apple's partner, will not be sharing or selling Apple Card data with third parties for marketing or advertising purposes.

Apple Card Support

Apple Card support will be handled through the Messages app, with support representatives available 24/7. All you need to do is send a text, which is a handy way to interact with support staff.

Availability

Apple Card is launching in the United States, but in the future, it could be expanding to additional countries much like Apple Pay has expanded. Apple Card will be able to be used worldwide where Mastercard is accepted.

Launch Date

Apple has not provided a specific date for when it plans to make the Apple Card available, but has said that it's going to launch sometime in the summer.

Feature Summary
Up to 3% cash back
Daily cash back
No fees
Accepted worldwide (wherever Mastercard is available)
Engraved Titanium physical card with concealed numbers
Easy sign-up on iPhone
Spending tracking
Clear transaction labeling
Privacy focused



getting........carded.............?!



_____________________________________

I reject your reality and substitute my own!
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: 3d
Date: March 27, 2019 03:34PM
Would've been cool if they laser etch a photo of your face onto the back of the card using the iPhone camera during sign-up as an additional security measure grinning smiley

Amex Blue has no annual fee with 3% back at supermarkets and 2% back at gas stations.



Edited 1 time(s). Last edit at 03/27/2019 03:43PM by 3d.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: Acer
Date: March 27, 2019 03:59PM
Lets just hope it doesn't have that awful butterfly keyboard.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: rich in distress
Date: March 27, 2019 04:31PM
I’ll wait for the black Apple card. Space Grey not so sure...



• back to confinement


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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: jdc
Date: March 27, 2019 04:49PM
Quote
3d
Amex Blue has no annual fee with 3% back at supermarkets and 2% back at gas stations.

I get that the "rewards" arent as good -- But does it have all the security feautres? or no annual fee, or late fees, integration, or easy to read statements, or the other dozen things its bringing?

Thats the kicker.

CC companies are now playing catch up -- much like the iPhone made the rest of the smartphone world play catchup too too...



----


Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: RAMd®d
Date: March 27, 2019 06:06PM
No fees or penalty.

One's interest rate is upped instead, if a payment is late or missed.

No annual fee. No NFC, either. Rewards aren't particularly good.

A FICO score of 780 or better and you're good to go.

I'll get one, but like any credit card, there are strengths and weaknesses.

The physical Ti card lacks a number , CCV, and expiration date, and a signature window. All the 'missing' information will be in the Wallet.

What it lacks is requiring a PIN for every transaction, since there's no NFC function. That way if your wallet was stolen or the card somehow lost, it would be next to useless, if not absolutely useless in the hands of someone else.




When a good man is hurt,
all who would be called good
must suffer with him.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men except
by believing all possible evil of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

Perfection is the enemy of progress. -Winston Churchill

-An armed society is a polite society.
And hope is a lousy defense.

You make me pull, I'll put you down.

Mister, that's a ten-gallon hat on a twenty-gallon head.

I *love* SIGs. It's Glocks I hate.
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Oh, and...
Posted by: RAMd®d
Date: March 27, 2019 06:09PM
I like the increased security of the card, and for the most part, a Goldman-Sachs data breach or them secretly selling our data might be my only concern.




When a good man is hurt,
all who would be called good
must suffer with him.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men except
by believing all possible evil of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

Perfection is the enemy of progress. -Winston Churchill

-An armed society is a polite society.
And hope is a lousy defense.

You make me pull, I'll put you down.

Mister, that's a ten-gallon hat on a twenty-gallon head.

I *love* SIGs. It's Glocks I hate.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: sekker
Date: March 27, 2019 06:29PM
Looks good. I do not carry a MasterCard normally, so this is fine for my portfolio.

So long as it doesn't get shut off when I travel outside my normal county unless I tell them first (a geofencing my TRget red card follows), could even replace my AmEx while traveling.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: GGD
Date: March 27, 2019 08:58PM
Reminds me of Woz's business card.

[www.wired.com]



Quote

Remember the creepy exchange between Apple co-founder Steve "Woz" Wozniak and Stephen Colbert on Comedy Central last week where the congenial geek talked using his razor-sharp metal business cards to cut steaks on airplanes?

I wonder if the Apple Card will also be able to cut steak, and if TSA will have issues.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: Winston
Date: March 27, 2019 10:13PM
I'm a fan of cash-back vs. "points" cards, where I'm never quite sure what the points will be worth.

FYI, here's a summary of credit card cash back I did for a pocket card. Net cash back (after any international fees, for foreign transactions), for U.S. and International use.

Note that some cards don't charge an international fee if the transaction is processed in dollars, but that means the retailer used their own conversion rate, which is usually unfavorable.

Listings (in parens) are of lower value or matched by a general cash back card.

Use in the USA
General use - cash back on all transactions
Fidelity Visa 2%
Citi Double Cash MC 2%
(CapitalOne Quicksilver Visa 1.5%)
(USAA Preferred Cash Rewards Visa 1.5%)

Gas
USAA Cashback Rewards Amex 5%
Costco Visa 4%
(AAA Dollars Plus MC 2%)
(Amazon Visa 2%)

Grocery
(AAA Dollars Plus MC 2%)
(REI MC 2%)
(USAA Cashback Rewards Plus Amex 2%)
Whole Foods: Amazon MC 5%

Drugstore
Costco Visa 3%
Amazon Visa 2%

Restaurant
Costco Visa 3%

Travel
AAA Dollars Plus MC 3%
Costco Visa 3%


Used Internationally
General use
CapitalOne Quicksilver Visa 1.5%
USAA Preferred Cash Rewards Visa 1.5%
(Fidelity Visa (net of 1% fee) 1%)
(AAA Dollars Plus MC 1%)
(USAA Cashback Rewards Amex 1%)
(Costco Visa 1%)

Travel
AAA Dollars Plus MC 3%
Costco Visa 3%

Restaurant
Costco Visa 3%

Gas
USAA Cashback Rewards Plus Amex 5%
Costco Visa 4%
AAA Dollars Plus MC 2%

Grocery
AAA Dollars Plus MC 2%
USAA Cashback Rewards Plus Amex 2%

Drugstore
AAA Dollars Plus MC 2%


Also no international fee:
- Delta Amex (but annual fee)
- Discover IT (limited international acceptance)
- Southwest Premier Visa (but annual fee)


Credit Card Rebates & International Fees By Card
....................................Rebate...Int’l Fee...Net Int’l
Fidelity Visa.......................2%........1%...........1%
Citi Double Cash MC..........2%........3%..........(1%)
CapitalOne Visa................1.5%.......0...........1.5%
USAA Pref. Cash Visa........1.5%.......0...........1.5%

AAA Dollars Plus MC ..........1%.........0.............1%
........Travel.........................3%.........0.............3%
........Gas, groc, drug...........2% ........0.............2%
USAA Cashback Amex.........1%.........0.............1%
........Gas..............................5%........0.............5%
........Groc............................2%.........0.............2%
Costco Visa.........................1%.........0.............1%
........Gas.............................4%.........0.............4%
........Restaurant..................3%..........0.............3%
........Travel..........................3%.........0.............3%
Amazon MC.................... ....1%........3%..........(2%)
........Rest, gas, drug............2%........3%..........(1%)
........Whole Foods................5%.......3%...........2%
REI MC................................1%.........3%..........(2%)
........Groc.............................2%........3%..........(1%)
Discover IT...........................1%.........0............1%
Delta Amex............................?..........0.............?
Southwest Premier Visa..........?..........0.............?


Note that the category assigned depends on the organization doing the charge. Some things many would consider "travel", such as subway systems, are often not counted as "travel". "Gas" can depend on how the transaction was rung up (at the pump or at a convenience mart counter, for example).


Good luck.

- Winston



------------------------
Be seeing you.



Edited 1 time(s). Last edit at 03/28/2019 05:15PM by Winston.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: dk62
Date: March 28, 2019 09:22AM
Actually, for international use, you should look for cards with no fee AND have transaction done in foreign currency. I travel frequently and have a couple of cards that I use like that (also helps that one of them has chip-and-PIN for purchases on train stations and such)..
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: S. Pupp
Date: March 28, 2019 11:48AM
Quote
RAMd®d
What it lacks is requiring a PIN for every transaction, since there's no NFC function. That way if your wallet was stolen or the card somehow lost, it would be next to useless, if not absolutely useless in the hands of someone else.

That's what would entice me to get it.
As it is, I'll stick with my Amazon Visa with 5% reward for shopping on Amazon.
The interest rate is lousy, but I've been able to pay off my card at the end of the month over the past few years, for a change.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: Winston
Date: March 28, 2019 05:13PM
Quote
dk62
Actually, for international use, you should look for cards with no fee AND have transaction done in foreign currency. I travel frequently and have a couple of cards that I use like that (also helps that one of them has chip-and-PIN for purchases on train stations and such)..

What card to you have that offers chip-and-PIN for purchases?

I think a couple of our cards now offer chip-and-PIN for purchases, which as you note, can be essential in some countries. When I ask card issuers about it, I almost inevitably get a clueless agent who thinks I want a PIN for cash withdrawal from an ATM.

The best card we have right now for travel is the Costco Visa. It used to have a 3% international fee, but that was dropped about a year ago. It gives 3% back for "travel" and 3% back on restaurants. Plus if you rent a car, it gives 4% back on gas purchases. But it doesn't offer chip-and-PIN.

Interestingly, it also has an embedded NFC chip (Visa payWave), so should work in place that allow that like the London Underground. However, I don't think it treats the Underground as "travel", so the cash back is only 1% instead of 3%.
Visa contactless payment (payWave)


Good luck.

- Winston



------------------------
Be seeing you.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: Winston
Date: March 28, 2019 05:20PM
Here's one list of cards that offer chip-and-PIN for purchases:
[www.cardrates.com]

It's a little weird that they list the USAA Cash Rewards Visa Signature Card, but show it as a MasterCard . . . I think USAA used to have this card under MC.
The card we have is a USAA Preferred Cash Rewards Visa Signature, which is I think what's being referred to.


Good luck.

- Wisnton



------------------------
Be seeing you.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: Sam3
Date: March 29, 2019 05:28AM
I thought that chip-and-pin was not allowed in the US, that chip-and-signature was the only thing that US merchants would accept. I would prefer chip-and-pin, it makes the transaction more like a debit card experience, and it's quicker.

I have noticed, however, that some stores don't require a signature, throwing another confusing element into the mix.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: Winston
Date: March 29, 2019 12:41PM
A few U.S. credit cards offer chip-and-PIN for use abroad.

- W



------------------------
Be seeing you.
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Re: 3 card monte?!....details for the new upcoming Apple credit card......
Posted by: dk62
Date: April 01, 2019 09:21AM
Quote
Winston
A few U.S. credit cards offer chip-and-PIN for use abroad.

- W

The one I use for that purpose is Barclay's AAdvantage card. No international fees, can use chip-and-PIN when needed. It still defaults to chip-and-signature at all places which do not absolutely require a PIN. So far I used the PIN only at some European train stations' ticket machines.
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