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Apple Card by Goldman Sachs

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Community Leader
Senior Contributor

Re: Apple Card by Goldman Sachs Thoughts?

The fact that you have to use ApplePay to maximize rewards makes this card that much harder to use as there are still LOTS of merchants who don't accept ApplePay or those such as Wal-Mart who are pushing their own "Pay" type system.  

 

Sure, because it's Apple there are going to be a lot who pick up this dud.  But there are so many places where I spent a lot of $$ that doesn't accept ApplePay.  In my situation my local grocery store still doesn't accept ApplePay, where I get fuel doesn't have it at the pump and only select locations have it inside.  Many department stores don't yet accept it...and in order to maximize value with this card you're going to have to use it at places that do indeed have and accept ApplePay.  

 

Until this happens this card would be nothing short of a nice looking 1% earner for me and do that I say no thanks!

Message 51 of 1,373
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Super Contributor

Re: Apple Card by Goldman Sachs Thoughts?


@joltdude wrote:

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


Apple is touting it as having no fees so I would hope that would encompass FTF as well. 

 

APR is okay for a rewards card I guess. 

  1. Variable APRs range from 13.24% to 24.24% based on creditworthiness. Rates as of March 2019.

Message 52 of 1,373
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Frequent Contributor

Re: Apple Card by Goldman Sachs Thoughts?


@Morpho wrote:

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).


This, exactly.

I've got some cards. Some are pretty, some are ugly. Some are more useful than others.
Message 53 of 1,373
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Super Contributor

Re: Apple Card by Goldman Sachs Thoughts?

I would be happy if this prompted Chase to include Apple Pay in the yet-to-be-announced 3rd quarter Freedom category to compete.
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 54 of 1,373
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Valued Member

Re: Apple Card by Goldman Sachs Thoughts?

"Give Barclays the heaveho on the existing AppleCard" Smiley Surprised Smiley Sad NOOOOO!  I love my Barclays Apple card!  All of my little song purchases and cloud storage go to this card.  When my husband's computer died I simply asked Barclays if we could get special financing to buy a new Mac and they gave it to us.  I need a new Ipad by the end of this year...I HOPE Barclays doesn't get "heave-ho"d before then

Message 55 of 1,373
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Regular Contributor

Re: Apple Card by Goldman Sachs Thoughts?

so no fees; does that mean there will be no balance transfer fees?  gotta give apple some credit, they always knew how to make aesthetically appealing products. that being said, even as an apple guy, not much of a reason to get the card outside of it being titanium. from getting rid of the large capacity ipod to getting rid of headphone jacks to creating a mostly meh credit card, apple is really trying to push me away lol

Scores as of 7/14/2020


Planning to garden until April 2020 (started Jul 25 2019)


Message 56 of 1,373
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Frequent Contributor

Re: Apple Card by Goldman Sachs Thoughts?

I won't underestimate what this card could do. A friend of mine (about a decade younger) said he and his friends are "absolutely getting this" and ditching their Amex. The allure of the metal card of their favorite brand could potentially make this the new IT card for a new generation of millenials.

NFCU 20K | Comneity IKEA 6k | Barclays AA 4K |Dell 3K| Amex HH 2K | CFNA Firestone 1K |Citi Home Depot 500 | NFCU LOC 2.5K|PenFed LOC 2K |
FICO8 SCORES - 673 TU , 640 EQ , 655 EX , AAOA 4 years 6 months. | Util 70%
Message 57 of 1,373
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Frequent Contributor

Re: Apple Card by Goldman Sachs Thoughts?

2% if the merchant takes Apple Pay but otherwise a pitiful 1%??  A less-than-mediocre offering by a tech giant with a newb underwriter counting on its sheep to be so enthralled they don't even care.

WHERE DO I SIGN UP?!?!?

As a self-professed Apple fan-girl and all-around lemming, I cannot wait to get my hands on this gorgeous yet totally worthless card.  And you just know imma get a triple pull for my loyalty.  🤪

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EX 780 TU 806 EQ 810

Message 58 of 1,373
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Regular Contributor

Re: Apple Card by Goldman Sachs Thoughts?

Biggest reason to get this card is to flex the Titanium Apple Card Smiley Happy



FICO 8 Scores

TU: 741 [1 Inquiry] | EQ: 742 (FAKO) [0 Inquiry] | EX: 742 [6 Inquiries]


AAoA = 18 months, AAoOA = 2 year 7 months

Message 59 of 1,373
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Valued Contributor

Re: Apple Card by Goldman Sachs Thoughts?

After watching the presentation, the one thing no one has mentioned here is the customer service aspect of the card, being able to message customer service is a HUGE plus, CAVEAT....is it Apple CS or Goldman Sachs CS? I use both and both are quite good.....SO that is definitely a plus, no website to go to, no phone numbers to call, just message customer service, THAT is what excited me about the card, metal, in my opinion is SO ridiculous as a reason to get ANY card, you know, like I got my mortgage from this company because the paper that the contract on is PURPLE, WOW no one else does that.....so I don't care about the terms, JUST that the paper is PURPLE....LOL. It will be interesting to see how this does, like I said before the other aspects have been seen in other software (spend charts etc) and other credit cards, and the rewards are Meh......

Message 60 of 1,373
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