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      08-23-2019, 10:39 AM   #1
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Apple Credit Card...who has it and who's planning on getting it

I was one of the early beta people. I really like it. It's cool to see your cash back on a daily basis. I'm not too crazy about the interest rate since I have a couple of 0% cards. But, no annual fee and pretty much 2% cash back on most items. 3% on Apple products.

Anyone else have it or planning on signing up?
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      08-23-2019, 10:56 AM   #2
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If there is no annual fee - I can see opening one to make a large apple purchase and save the 3%, otherwise - nothing really special about it that I can see.

The 2% back on everything seems a bit of a scam. It's only 2% back if you use apple pay. For many folks, like me, who don't live in major metro markets, apple pay is rare and most places don't have it.

So this isn't really 2%, it's 1%. Which is shit.
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      08-23-2019, 12:04 PM   #3
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Call me old-fashioned, but we don't even have credit cards aside from one that I got from Citi-Bank years and years ago to use for work. It's so old, they constantly try to get me to "upgrade" to a newer card.

But this card has "perks" that are no longer offered such as covering any gap on insurance on a rental vehicle, and "cash-back" in the form of gift cards to all kinds of merchants.

When used for work, I make some pretty big purchases and get points for that...then get points for paying it off. My work let's me keep any benefits that come along with it.
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      08-23-2019, 12:23 PM   #4
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Quote:
Originally Posted by Run Silent View Post
If there is no annual fee - I can see opening one to make a large apple purchase and save the 3%, otherwise - nothing really special about it that I can see.

The 2% back on everything seems a bit of a scam. It's only 2% back if you use apple pay. For many folks, like me, who don't live in major metro markets, apple pay is rare and most places don't have it.

So this isn't really 2%, it's 1%. Which is shit.
You can request a physical card. What's cool is there's no numbers on it. Just a slab of aluminum with a chip.
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      08-23-2019, 12:33 PM   #5
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Originally Posted by omasou View Post
Quote:
Originally Posted by Run Silent View Post
If there is no annual fee - I can see opening one to make a large apple purchase and save the 3%, otherwise - nothing really special about it that I can see.

The 2% back on everything seems a bit of a scam. It's only 2% back if you use apple pay. For many folks, like me, who don't live in major metro markets, apple pay is rare and most places don't have it.

So this isn't really 2%, it's 1%. Which is shit.
You can request a physical card. What's cool is there's no numbers on it. Just a slab of aluminum with a chip.
Why is that "cool"?

:

Also, even with the actual card, I don't believe you get the 2% without using Apple Pay.
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      08-23-2019, 01:10 PM   #6
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Originally Posted by omasou View Post
You can request a physical card. What's cool is there's no numbers on it. Just a slab of aluminum with a chip.

Apparently it is titanium with a finish on it that is quite susceptible to damage and difficult to take care of.

https://www.cnn.com/2019/08/22/tech/...rnd/index.html
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      08-23-2019, 01:25 PM   #7
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Originally Posted by Rmtt View Post
Call me old-fashioned, but we don't even have credit cards aside from one that I got from Citi-Bank years and years ago to use for work. It's so old, they constantly try to get me to "upgrade" to a newer card.

But this card has "perks" that are no longer offered such as covering any gap on insurance on a rental vehicle, and "cash-back" in the form of gift cards to all kinds of merchants.

When used for work, I make some pretty big purchases and get points for that...then get points for paying it off. My work let's me keep any benefits that come along with it.
Yup - I agree. For what it's worth - I don't borrow money. Period. All my cars, houses, and all other expenditures or assets have been paid for in cash.

I will take advantage of some credit card offers though, but I will use them and dump them. Case in point:

Taking the family to Disney next spring. Capital One had a program were you got 50,000 points (worth 0.01 each) if you spent $3K in the first 90 days. So I opened the card, paid for the hotel and park tickets with it, then used the points I earned (total of about 56,800) from those purchases to credit the balance as a (purchase eraser) for a total of $568. Paid the remaining balance the following week and cancelled the card. Took me a week and about 30 minutes of my time and managed to bilk them out of over five hundred bucks.

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      08-23-2019, 01:25 PM   #8
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Originally Posted by Run Silent View Post
Why is that "cool"?

:

Also, even with the actual card, I don't believe you get the 2% without using Apple Pay.
One less way to steal your credit card information.
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      08-23-2019, 01:27 PM   #9
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Quote:
Originally Posted by Run Silent View Post
Yup - I agree. For what it's worth - I don't borrow money. Period. All my cars, houses, and all other expenditures or assets have been paid for in cash.

I will take advantage of some credit card offers though, but I will use them and dump them. Case in point:

Taking the family to Disney next spring. Capital One had a program were you got 50,000 points (worth 0.01 each) if you spent $3K in the first 90 days. So I opened the card, paid for the hotel and park tickets with it, then used the points I earned (total of about 56,800) from those purchases to credit the balance as a (purchase eraser) for a total of $568. Paid the remaining balance the following week and cancelled the card. Took me a week and about 30 minutes of my time and managed to bilk them out of over five hundred bucks.

Should have kept the card until you finished your Disney trip. They give you an additional 10% off park purchases.

Last edited by omasou; 08-23-2019 at 01:32 PM..
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      08-23-2019, 01:31 PM   #10
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Hard pass. There's nothing special about it. Besides, I have too many credit cards in my wallet as it is.
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      08-23-2019, 01:42 PM   #11
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The android card is WAY better. It has bluetooth 8.0, wifi and open source interest rates The physical card is made of rhodium. It also predetermines where you will use it, has already made your purchases for you and balances your checkbook remotely. Your packages have already been delivered, the receipt is on your kitchen counter, your sheets are folded and your toilets are clean.

THANKS ANDROID!

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      08-23-2019, 01:45 PM   #12
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Quote:
Originally Posted by Run Silent View Post
Yup - I agree. For what it's worth - I don't borrow money. Period. All my cars, houses, and all other expenditures or assets have been paid for in cash.

I will take advantage of some credit card offers though, but I will use them and dump them. Case in point:

Taking the family to Disney next spring. Capital One had a program were you got 50,000 points (worth 0.01 each) if you spent $3K in the first 90 days. So I opened the card, paid for the hotel and park tickets with it, then used the points I earned (total of about 56,800) from those purchases to credit the balance as a (purchase eraser) for a total of $568. Paid the remaining balance the following week and cancelled the card. Took me a week and about 30 minutes of my time and managed to bilk them out of over five hundred bucks.


Why cancel the card though? Why not use credit cards for their perks and benefits and pay the balance in full each month instead? In that sense, it's not exactly "borrowing money" like carrying a balance or taking out a conventional loan.
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      08-23-2019, 02:02 PM   #13
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Why cancel the card though? Why not use credit cards for their perks and benefits and pay the balance in full each month instead? In that sense, it's not exactly "borrowing money" like carrying a balance or taking out a conventional loan.
Because, in general, the standard % back on most cards doesn't really make it worth the hassle.

I don't really have any bills and most places like the utility company or water company charge a 2% convenience fee to use a CC, negating any gains. Wife and I don't really spend much money. When we do make a big purchase, like travel, we will open a card to get the 'introductory' offers and then cancel them.

The only card I actually use is my bank CC, which gives me 3% back on gas. I pay it off every Friday, lol.

That adds up to a little bit, but not much - something like $70 a year.
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      08-23-2019, 02:07 PM   #14
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Quote:
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Apparently it is titanium with a finish on it that is quite susceptible to damage and difficult to take care of.

https://www.cnn.com/2019/08/22/tech/...rnd/index.html
This is so Apple. I was on their beta testing team for their new underwear....iDrawers. They did recommend that it did not come in contact with human skin or cotton of any kind.
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      08-23-2019, 02:08 PM   #15
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Beta tester here as well... its a pretty shit card but I have one. Don't ever plan on maxing it out or carrying a balance so I'm just along for the perks
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      08-23-2019, 02:20 PM   #16
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Quote:
Originally Posted by Run Silent View Post
Yup - I agree. For what it's worth - I don't borrow money. Period. All my cars, houses, and all other expenditures or assets have been paid for in cash.

I will take advantage of some credit card offers though, but I will use them and dump them. Case in point:

Taking the family to Disney next spring. Capital One had a program were you got 50,000 points (worth 0.01 each) if you spent $3K in the first 90 days. So I opened the card, paid for the hotel and park tickets with it, then used the points I earned (total of about 56,800) from those purchases to credit the balance as a (purchase eraser) for a total of $568. Paid the remaining balance the following week and cancelled the card. Took me a week and about 30 minutes of my time and managed to bilk them out of over five hundred bucks.

Wish I could say I paid cash for everything and never paid a dime in interest. But took money which I could have paid cash for the house and cars and put in the market and made far more money in the market each year than the interest I every paid. This is finance 101.

I have not paid CC interest in over 25 yrs and I use a CC all the time, with the point they are paying me to spend money for things I would have top buy anyway. The CC company loan me money for 30 days and pay me to load it to me, what could be better. Especially when we use it for work travel expenses. Keep in mind most place do not give cash discounts when you buy something and they already factor the CC fees into purchase price.
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      08-23-2019, 02:28 PM   #17
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Originally Posted by JasonCSU View Post
Why cancel the card though? Why not use credit cards for their perks and benefits and pay the balance in full each month instead? In that sense, it's not exactly "borrowing money" like carrying a balance or taking out a conventional loan.
Yeah, even if you are not using it, there is not really a reason to cancel it unless there is an annual fee or you are worried about not being able to monitor it for illegal activity or something similar to those.
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      08-23-2019, 02:31 PM   #18
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Nope, not even considering it...
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      08-23-2019, 02:36 PM   #19
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Originally Posted by Maestro View Post
Wish I could say I paid cash for everything and never paid a dime in interest. But took money which I could have paid cash for the house and cars and put in the market and made far more money in the market each year than the interest I every paid. This is finance 101.
LOL. Well, actually, that isn't finance 101. Finance 101 would have taught you that you have to factor in a Rp in that equation, typically negating the gains you earned that were offset by the interest on the house and cars.

But hey, what do I know right? Certainly wouldn't have anything to do with my profession or anything?

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      08-23-2019, 02:44 PM   #20
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Originally Posted by Now_Rudi View Post
The android card is WAY better. It has bluetooth 8.0, wifi and open source interest rates The physical card is made of rhodium. It also predetermines where you will use it, has already made your purchases for you and balances your checkbook remotely. Your packages have already been delivered, the receipt is on your kitchen counter, your sheets are folded and your toilets are clean.

THANKS ANDROID!

But, it is susceptible to catching on fire!
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      08-23-2019, 03:22 PM   #21
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Quote:
Originally Posted by Run Silent View Post
Because, in general, the standard % back on most cards doesn't really make it worth the hassle.

I don't really have any bills and most places like the utility company or water company charge a 2% convenience fee to use a CC, negating any gains. Wife and I don't really spend much money. When we do make a big purchase, like travel, we will open a card to get the 'introductory' offers and then cancel them.

The only card I actually use is my bank CC, which gives me 3% back on gas. I pay it off every Friday, lol.

That adds up to a little bit, but not much - something like $70 a year.

Well for me, and I assume many others, I use my cards for everyday purchases like gas, groceries, dining out, and bills that don't charge additional fees for using a card. Depending on the card, I am getting between 2-5% back on those purchases which definitely adds up over time.

There are other benefits in addition to the cash back and travel points. For example, the credit card companies have been really good at handling any fraudulent purchases when things get hacked, which is inevitable these days. Other protections like insurance on rental cars and various other travel related things is useful as well.
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      08-23-2019, 04:37 PM   #22
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Another failed idea. Mediocre card that looks "cool" and offers sub-par benefits.

Recommended: Chase Sapphire Reserve + Amex Blue Cash Preferred.
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