Apple Card

Money, investing, mutuals etc
planteria
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Apple Card

Post by planteria » Tue Mar 26, 2019 4:10 am

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kevinchess1
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Re: Apple Card

Post by kevinchess1 » Tue Mar 26, 2019 4:41 am

2% cash back, paid daily is certainly an incentive
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Re: Apple Card

Post by pabenny » Tue Mar 26, 2019 6:07 am

US only. Merchant and interchange fees are capped over here. 2% cashback would be loss-making unless they could recoup it from fees and interest.
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Re: Apple Card

Post by Boro Boy » Tue Mar 26, 2019 8:20 am

planteria wrote:
Tue Mar 26, 2019 4:10 am
new Credit Card from Apple looks interesting..

https://www.apple.com/newsroom/2019/03/ ... -by-apple/

https://www.techradar.com/news/apple-card-privacy
Is Apple's "...a healthier financial life" marketing talk for gets you into debt?
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blythburgh
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Re: Apple Card

Post by blythburgh » Tue Mar 26, 2019 10:13 am

People often choose to get into debt, others slide into debt due to illness or sudden cut in work hours.

I was listening to "The Archers" last night. Tom has met and married in a short period of time. Sees his new wife's credit card and she owes £8,000. Well she had the wedding expenses etc. And anyway she pays off some each month and changes to a new 0% card as necessary. Tom had been worrying about the debt all afternoon as they have decided to rent a very nice but pricey new home.

Her reaction to him saying he paid off his credit card in full each month was shock, "but nobody does that these days", she says.

OK so this is not real life but I cannot help but feel that it mirrors real life and could have been one of those story lines they have been asked to do to show people the dangers of not paying your CC bill in full each month. Like all soaps "THe Archers" gets a lot of please use this in a storyline to help us get our message across about debt, this illness, drunk driving etc
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Re: Apple Card

Post by Boro Boy » Tue Mar 26, 2019 10:38 am

As the profits in the mobile phone markets slow companies like Apple must explore and expand into new market areas, so in this case it is expanding it's Apple Pay element into the personal credit card market.

I often wonder if people would use credit cards without so much thought if we renamed these things debt cards...?
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Re: Apple Card

Post by blythburgh » Tue Mar 26, 2019 10:42 am

We think of ours as a debit card, if we cannot afford to buy it with cash today then forget it. Bill comes in and is paid instantly. Set up a Direct Debit to make sure that happens so cannot forget.
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Re: Apple Card

Post by Boro Boy » Tue Mar 26, 2019 10:47 am

blythburgh wrote:
Tue Mar 26, 2019 10:42 am
We think of ours as a debit card, if we cannot afford to buy it with cash today then forget it. Bill comes in and is paid instantly. Set up a Direct Debit to make sure that happens so cannot forget.
Very wise. Some unfortunately use these "debt cards" and (l'm sure unwittingly) allow the debt to build up.
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Re: Apple Card

Post by parchedpeas » Tue Mar 26, 2019 10:58 am

Cash back, interest free balance transfers and Section 75 protection: Credit Cards are awesome if you are financially responisble.
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Re: Apple Card

Post by Boro Boy » Tue Mar 26, 2019 11:10 am

parchedpeas wrote:
Tue Mar 26, 2019 10:58 am
Cash back, interest free balance transfers and Section 75 protection: Credit Cards are awesome if you are financially responisble.
Transfers may sometimes be interest free for a period of time but are seldom charge free. More marketing to soften the debt pill...?
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