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Started By
Message
re: This Apple Credit Card is going to hurt them
Posted on 8/12/19 at 1:27 pm to 1999
Posted on 8/12/19 at 1:27 pm to 1999
quote:
But those rewards are pathetic compared to most of their competitors (even most non fee cards). This is a dumpster card if I ever saw one.
Valid complaint, I use it for 3% on App Store/Apple Store purchases.
0
Posted on 8/12/19 at 1:28 pm to 1999
quote:
3% back on apple purchases
2% back on apple pay purchases
1% back on everything else
gay
Posted on 8/12/19 at 1:28 pm to 1999
quote:
But those rewards are pathetic compared to most of their competitors (even most non fee cards). This is a dumpster card if I ever saw one.
2 percent cash back is pretty good. They are trying to make people use Apple Pay.
I think the product is fine. But giving it to dumbasses isn't going to end well. I am leaning toward the play for Apple being technology.
This post was edited on 8/12/19 at 1:31 pm
Posted on 8/12/19 at 1:34 pm to anc
This news doesn't seem to have had much effect on their stock price, in either direction.
Posted on 8/12/19 at 1:39 pm to anc
I guess when you are sitting on $350 billion+ in cash, you can take a few gambles.
This post was edited on 8/12/19 at 2:38 pm
Posted on 8/12/19 at 1:40 pm to The Pirate King
(no message)
This post was edited on 1/11/21 at 2:18 am
Posted on 8/12/19 at 1:43 pm to The Pirate King
quote:
I don’t understand the desire by apple to get into this market. A lot of headache for not much benefit. Is apple on the hook when these things go south?
Apple surely gets its cut from the interchange fees.
Posted on 8/12/19 at 1:49 pm to anc
quote:
This Apple Credit Card is going to hurt them
Who is the "them?"
Apple isn't responsible for the creditworthiness, just like Disney isn't responsible for it on their branded cards. Just like the airlines aren't for their cards, etc.
I'm sure Apple gets some sort of royalty fees. Apple may also, if this works well, restrict Apple Pay to only these Apple branded cards.
Also, I'm guessing the data stream from using these card purchases via the Apple Pay is going to have a lot of value.
Now, we can discuss if this is a smart play for Goldman Sachs.
Posted on 8/12/19 at 1:59 pm to LSUFanHouston
Apple gets a cut from every apple pay transaction. The services piece of their business is growing and this is part of it.
As someone stated above it's to help get more people to use apple pay.
As someone stated above it's to help get more people to use apple pay.
Posted on 8/12/19 at 2:02 pm to LSUFanHouston
It's another device to keep people in the walled ecosystem of Apple. Increase the user satisfaction of the Apple fanboys/girls and keep them buying Apple products.
They missed out on buying LoopPay, so Samsung has a huge lead on them being able to use Samsung Pay in every store even ones that refuse to enable NFC.
This lets you use Apple Pay in every store because some stores like Walmart aren't going to enable the NFC devices for you to be able to use Apple Pay through the phone. The credit card goes through the phone to let you use it anywhere.
They missed out on buying LoopPay, so Samsung has a huge lead on them being able to use Samsung Pay in every store even ones that refuse to enable NFC.
This lets you use Apple Pay in every store because some stores like Walmart aren't going to enable the NFC devices for you to be able to use Apple Pay through the phone. The credit card goes through the phone to let you use it anywhere.
This post was edited on 8/12/19 at 2:05 pm
Posted on 8/12/19 at 2:07 pm to Dam Guide
quote:
I don’t understand the desire by apple to get into this market.
There's a lot of reasons, one major one is NO ONE is using that apple pay garbage...but if you convince someone to get an $8K credit card sub-prime with no hoops to jump through and the only requirement is they have to use Apple Pay...that's a huge, Huge, HUGE win for Apple for a variety of reasons.
Even if they lost money on the lending or fees or whatever...the win of getting people to use, have to accept apple pay is the end goal.
Posted on 8/12/19 at 2:23 pm to anc
quote:Who is "them"
This Apple Credit Card is going to hurt them
quote:
Apple has instructed Goldman Sachs to approve every iPhone user . . .
Posted on 8/12/19 at 2:26 pm to MrLSU
quote:
Which pension fund is going to buy all this F Grade Paper?
Yours probably, lol
Posted on 8/12/19 at 2:37 pm to MisslePig
quote:
one major one is NO ONE is using that apple pay garbage
I use it everywhere I can, I have my most used credit cards in it and it is pretty nice to use it.
Problem is the big box stores don't want us using it and getting use to it, it really hampers their customer tracking because you become a meaningless number that doesn't correspond to when you use it again. So they have disabled the NFC readers at stores like Walmart. Same thing with Android Pay that uses NFC. Both of them are nice. Samsung Pay uses tech to blast your regular card info to readers that was developed by LoopPay, so they can't really stop that.
This post was edited on 8/12/19 at 2:41 pm
Posted on 8/12/19 at 2:43 pm to anc
quote:
It's a MC with no number. Needs to be used through an iPhone.
So now her iphone bill will be 600 pages?
Posted on 8/12/19 at 2:52 pm to anc
Since my credit is shite over a small business I was partnered in going under, I’m tenpted to get one and max it out and not pay it back because frick Apple
Posted on 8/12/19 at 3:43 pm to idlewatcher
quote:
Won't end well for Apple if they're busy approving everyone and their dog though.
But not doing that makes you racist.
Posted on 8/12/19 at 3:44 pm to anc
quote:
You can now get the Apple Credit Card. Apple has instructed Goldman Sachs to approve every iPhone user, regardless of credit worthiness.
Yeah, not sure I’d touch that.
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