Apple introduces a new credit card called Apple card.
- Thread starter Koba St
- Start date
wow so innovativeWhile they may not be collecting user data (allegedly), all financial institutions gather usage data for credit cards. Part of it is a necessary evil to develop a spending profile to figure out type of spending on your card is or isn't fraud so they have a loose idea of what they should or shouldn't block. Another reason is to evaluate how their rewards are working. For example, in the incredibly unlikely event that the overwhelming majority of cardholders weren't using the card to buy Apple products, they'd have spending data to tell them what the people are spending to evaluate if that feature needs to be modified to increase spending on Apple products. It's just a matter of what they use it for. They might not sell that data, but I can guarantee you that their own direct marketing efforts will be far more targeted to cardholders.
My Amex does this and more
Tenchi Ryu
Ashtray B!tch
Samsung scrubs came in this mufukka furious
Dorian Breh
Veteran
How, sway? The card has no info on itAll jokes aside a lot of scammers gonna eat off this
if they offered like some kind of signup, I can see this being more appealing and it's really stupid they didn't, like at least do $100 bonus sign up. But why would anyone get this, just get the citi double cash back card, it's 2% on all purchases, or the us bank altitude card which has 3% on apple already, not to mention credit cards generally have good protection against fraud, product protection, and if you have a premium card, shyt load of travel rewards and protection.
clyma est mort
R.I.P. Eazy-E
Sticking with my Chase Amazon card - 5% on Amazon purchases, between 1 & 2% elsewhere.
Who is that?
Also forgot to say you get points for using samsung pay
MikeyC
The Coli Royal Rumble Champion 2019
I think the CEO of apple.
The Devil's Advocate
Call me Dad
Y'all managed to miss a lot of great points.. Like the fact there's no cards numbers or expiration date, so it can't be stolen... You generate a new card number, etc. every time you choose to make a new purchase (say online or something you don't swipe)...
You also aren't waiting for rewards... You get them deposited back daily.
Customers will also be able to track purchases, check balances, and see when their bill is due right from the app. There will be a physical titanium card, too, but there’s no credit card number, CVV, expiration date, or signature. All of that authorization information is stored directly in the Apple Wallet app.
Apple also says that it’ll use machine learning and Apple Maps to label stores that you use in the app, and use that data to track purchases across categories like “food and drink” or “shopping.” See a charge you don’t recognize? Tap to pinpoint it on a map.
Instead of a points-based reward program, Apple Card gives cash back rewards in the form of Daily Cash, which is applied straight to your Apple Card to spend or put toward your purchases. Apple is offering 2 percent cash back on purchases made through Apple Pay using an Apple Card, and purchases from Apple will get 3 percent cash back. Purchases made through the physical card will get just 1 percent cash back, though.
Additionally, the company is promising that there will be “no late fees, no annual fees, no international fees, and no over limit fees” with the Apple Card and “lower interest rates” with no penalties for missing payments, with APR rates ranging from 13.24 percent to 24.24 percent based on credit. Travelers abroad don’t have to pay a foreign-transaction fee, either.
“Apple doesn’t know what you bought, where you bought it, and how much you paid for it,” said Jennifer Bailey, VP of Apple Pay. All of the spending tracking and other information is stored directly on the device, not Apple’s servers. The company also promises that “Goldman Sachs will never sell your data to third parties for marketing and advertising.”
still ain't getting it tho... fukk credit cards
You also aren't waiting for rewards... You get them deposited back daily.
Customers will also be able to track purchases, check balances, and see when their bill is due right from the app. There will be a physical titanium card, too, but there’s no credit card number, CVV, expiration date, or signature. All of that authorization information is stored directly in the Apple Wallet app.
Apple also says that it’ll use machine learning and Apple Maps to label stores that you use in the app, and use that data to track purchases across categories like “food and drink” or “shopping.” See a charge you don’t recognize? Tap to pinpoint it on a map.
Instead of a points-based reward program, Apple Card gives cash back rewards in the form of Daily Cash, which is applied straight to your Apple Card to spend or put toward your purchases. Apple is offering 2 percent cash back on purchases made through Apple Pay using an Apple Card, and purchases from Apple will get 3 percent cash back. Purchases made through the physical card will get just 1 percent cash back, though.
Additionally, the company is promising that there will be “no late fees, no annual fees, no international fees, and no over limit fees” with the Apple Card and “lower interest rates” with no penalties for missing payments, with APR rates ranging from 13.24 percent to 24.24 percent based on credit. Travelers abroad don’t have to pay a foreign-transaction fee, either.
“Apple doesn’t know what you bought, where you bought it, and how much you paid for it,” said Jennifer Bailey, VP of Apple Pay. All of the spending tracking and other information is stored directly on the device, not Apple’s servers. The company also promises that “Goldman Sachs will never sell your data to third parties for marketing and advertising.”
still ain't getting it tho... fukk credit cards
