Apple Card vs. Amazon Prime Rewards Visa

[blindambition]

Hey Guys,
Long time no see. Life has been crazy!
I came across this article this morning. It compares the upcoming Apple Card to Chase’s Amazon Prime Visa. It makes some valid points as to why it isn’t the disruptor it’s hyped to be.
An interesting article when a few minutes to spare. https://appleinsider.com/articles/19/04/27/apple-card-vs-amazon-prime-rewards-visa-which-credit-card...

[pinkandgrey]

Yeah, I really wanted the Apple card, because I don’t use Amazon enough to justify Prime, and because I looove Apple products. But I don’t use Apple Pay and I’ve sworn off new credit cards lol. 

[Anonymous]

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@blindambition wrote:
Hey Guys,
Long time no see. Life has been crazy!
I came across this article this morning. It compares the upcoming Apple Card to Chase’s Amazon Prime Visa. It makes some valid points as to why it isn’t the disruptor it’s hyped to be.
An interesting article when a few minutes to spare. https://appleinsider.com/articles/19/04/27/apple-card-vs-amazon-prime-rewards-visa-which-credit-card...

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The article is about which card has the best perks. The card is not going to be disruptive because of perks. There are dozens of cards with better perks. The cards with the best perks tend to have low uptake because the card issuer does not want to give out the card to just anyone.

We don’t know what the underwriting will be, so to declare it’s not the disruptor it’s hyped to be, is premature. The disruptive features are the gamification of all aspects of the card, including the gamification of the perks, not the perks themselves.

 To disrupt a market is to change the way the competition does business. We are not going to know the true impact until 1-2 years after the card hits. The biggest card issuer is Chase. Chase is already trying some of these things with FINN. It would be natural path for Chase to offer a FINN card with the features of the Apple card.

[Anonymous]

I already know the Apple Card isn't for me, Barclay's uses a similar rule as Chase it seems. Not sure if it applys to this card in particular, but it still would require a HP. And I am currently trying to garden my personal credit. lol

I would likely lean towards Amazon (Biz) over Apple, as I use it slightly more. If I had the Apple Card I might end up buying more Music than normal, or than I should.

I also prefer Amex over Barclays, juyst based on personal stories I've heard.

[Anonymous]

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@Anonymous wrote:

I already know the Apple Card isn't for me, Barclay's uses a similar rule as Chase it seems. Not sure if it applys to this card in particular, but it still would require a HP. And I am currently trying to garden my personal credit. lol

I would likely lean towards Amazon (Biz) over Apple, as I use it slightly more. If I had the Apple Card I might end up buying more Music than normal, or than I should.

I also prefer Amex over Barclays, juyst based on personal stories I've heard.

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This card has nothing to do with Barclays. It’s in partnership with Goldman Sachs. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I already know the Apple Card isn't for me, Barclay's uses a similar rule as Chase it seems. Not sure if it applys to this card in particular, but it still would require a HP. And I am currently trying to garden my personal credit. lol

I would likely lean towards Amazon (Biz) over Apple, as I use it slightly more. If I had the Apple Card I might end up buying more Music than normal, or than I should.

I also prefer Amex over Barclays, juyst based on personal stories I've heard.

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This card has nothing to do with Barclays. It’s in partnership with Goldman Sachs. 

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This!

[Anonymous]

Yeah, found that out elsewere. I thought I had heard it was Barclays somehwere. Eitherway, they still gonna use Chase's 5/24 rule.

[Anonymous]

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@Anonymous wrote:

Yeah, found that out elsewere. I thought I had heard it was Barclays somehwere. Eitherway, they still gonna use Chase's 5/24 rule.

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What makes you think that? Apple is going to want this card in as many customers’ hands as possible. Since Apple runs the payment network they are targeting this card for, there’s no SUB to speak of, the rewards aren’t great compared to other options, and the account is tied to your iPhone, these cards are a very low churn risk. 

In contrast, Chase’s cards are top tier rewards with huge SUBs and lend themselves quite easily to churning and MS activities so it’s in Chase’s best interest to fend off the so-called unprofitable customers.