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Apple Card by Goldman Sachs Thoughts?

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Community Leader
Senior Contributor

Re: Apple Card by Goldman Sachs Thoughts?

For me this one starts and stops with the aesthetics.   As of now, so sign up bonus, no special financing, blah cash back and requiring the use of ApplePay which there is still a LARGE amount of places that doesn't accept it, makes this one an immediate pass.  

 

I'll continue to use my BestBuy Visa for large Apple purchases who often offer 6/12/18 month special financing.  

 

And for those who get it for the looks...just remember that Apple wants you to use ApplePay to gain the 2% back so that means that you're fancy looking card will hardly leave your wallet...if you're trying to maximize your earnings that is. 

Message 41 of 920
Valued Contributor

Re: Apple Card by Goldman Sachs Thoughts?

If the card has PIN priority, I'll get it so I can use it overseas.  Otherwise I'll pass.

Chase Sapphire Reserve • PenFed Power Cash Rewards • and five cards in the sock drawer

No CC debt • No bonus chasing • No app sprees • No gift cards • No AZEO • No airline incidentals • No hotel cards • No store cards • No business cards • No authorized users
Message 42 of 920
Super Contributor

Re: Apple Card by Goldman Sachs Thoughts?

Is PIN priority a known feature of this card?
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 43 of 920
Senior Contributor

Re: Apple Card by Goldman Sachs Thoughts?


@NRB525 wrote:
Is PIN priority a known feature of this card?

It’s exclusively for the US market so it’s incredibly unlikely. 

70DD1A3B-9DE6-4CBB-A6D9-BA705BE22054.jpeg
Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 44 of 920
Regular Contributor

Re: Apple Card by Goldman Sachs Thoughts?

What is great with this card is it’s a ‘disrupter’ to the hohum credit card industry.  This will spurn more people to use Apple Pay.  Force more CC issuers to move to a 2% CB model. Give Barclays the heaveho on the existing AppleCard.

 

Weither you like the card or not...it’s goona produce some interesting changes.

TU:808 / EQ:797 / EX:791 as of 6/8/19
Message 45 of 920
Senior Contributor

Re: Apple Card by Goldman Sachs Thoughts?


@Spotsy wrote:

What is great with this card is it’s a ‘disrupter’ to the hohum credit card industry.  This will spurn more people to use Apple Pay.  Force more CC issuers to move to a 2% CB model. Give Barclays the heaveho on the existing AppleCard.

 

Weither you like the card or not...it’s goona produce some interesting changes.


I think you’re giving it too much credit. 

 

It will be a hit with millenials (although not this one) but that’s about it. 

70DD1A3B-9DE6-4CBB-A6D9-BA705BE22054.jpeg
Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 46 of 920
Frequent Contributor

Re: Apple Card by Goldman Sachs Thoughts?

i can get  a better deal on most apple products at costco ( including buying itunes gift card below face value) and i get 2% back from my costco visa and another 2% back from executive membership. My iPhone I got at target on Black Friday, I got a $259 target gift card. based on the $700 i paid for the phone, it comes as a 3.6% kick back.

Message 47 of 920
Super Contributor

Re: Apple Card by Goldman Sachs Thoughts?

Spurn... perhaps not the word you intended, though that seems to be the reaction here Smiley Wink
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 48 of 920
Established Contributor

Re: Apple Card by Goldman Sachs Thoughts?

I’m not surprised that very few get it. The card is not really for the people here. It’s not for the FICO min/max’rs with many cards. The card is for the data set that has 0-1 card. Only Millennials? Well in 2019 they will become the largest generation 73-74 million. The next generation (Z) is also starting to enter the work force. That’s really where Apple will focus.

 

Chase has been chasing  😏 that generation too with Finn. The Finn app has some of the gamification of finances that the Apple Card has. Apple has taken it to the next level. Other banks will follow. That’s why it’s a game changer. Because Apple is more in touch with that customer than the traditional bank. It’s like a signal to Chase that they are on the right track and single to other banks that they need to get on board.

 

Once a year Apple drops a new phone and has million of people coming through the door buying a $1,000 device. Guess what they will pitch them?

 

The Barclays card was just a Barclays card with the Apple logo slapped on it. This card has the full focus of one of if not the most powerful marketing company in the world behind it. Yeah it’s not going to be a hit with cash back and SUB chasers but that’s not the target market.

 

The game changer is the app. The cash back is somewhat irrelevant. People who will never get this card will be effected and they will not even know it. Because banks are going to change to compete (they have to if they want the next gen’s business).

I just returned from financial hell. Don't go, the brochure is a lie.
Message 49 of 920
Community Leader
Senior Contributor

Re: Apple Card by Goldman Sachs Thoughts?

Let me throw something into all these posts...

Realize Apples gamification/mint like thing isn't new.. I think its going to be based on Clarity Money which was not too long ago bought out by GS........... 

 

my guess is its going to be a more integrated variant of the Clarity app customized for/with Apple....

Other thing i haven't seen is if theres going to be a FTF regardless of physical or virtual card.... 

 

-J

Message 50 of 920
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