Wonder what Apple caved on. They famously only found goldman to work with them originally because they had significant demands that bucked the industry, including setting everyone's statement dates to the exact same so that customer support collapses the same day every year.
I've left Chase twice. Once because they sucked. Once because my bank, First Republic, had a run that put them out of busines. Chase took them over, 10x-ed the prices and 1/10th the level of service.
Maybe Apple's influence will help but certainly worrisome for ne.
I wonder what the terms of this new deal are. Goldman Sachs had accepted absolutely ridiculous terms like forgoing fees because they were apparently desperate for consumer business. Chase has an existing consumer business so I can't imagine they would accept the same terms but I wonder what this would mean for the card benefits.
A nice feature of the Apple Card is the very fast processing of transactions. I can pay for something and have it show up as pending and clear within a day. Whereas my bank credit card will leave transactions pending for an average of five days. The fast clearing is not a huge deal, but it's nice as it pairs well with a daily YNAB routine.
The actual rewards are pretty average, but that's okay. I don't really get the elitism I'm seeing in the comments from people who act like you're an idiot for not juggling a half-dozen cards with varying annual fees and rotating bonus points categories. For people who don't travel, rent cars, dine out, etc. the Apple card is a fine everyday card given the number of places that qualify for 2%. In the end, for people making the average US salary, +/-1% in limited categories is not worth the administrative overhead and credit impact of managing a bunch of cards.
I personally enjoy some of the min-maxing involved in managing cards/finances, but I wouldn't go as far as to call somebody 'financially illiterate', as one commenter did, for using the physical apple card and receiving 1% back on the rare occasion contactless payment doesn't work somewhere.
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[ 3.8 ms ] story [ 45.9 ms ] threadI have a chase card with 60XXX CL and an AC with 50XXX.
> No fees. Not even hidden ones
and
> 2% cash back when you use Apple Card with Apple Pay
and
> 3% cash back at Apple (and Uber, Uber Eats, Booking.com and a few others) when you use Apple Pay
This seems... really good. As in, it's essentially free money. Am I missing a catch here?
(Obviously their angle is you’ll use your phone or watch, which isn’t a huge stretch)
Frankly I liked that they had GS as the bank cause they come with a pretty amazing customer support system
If this can happen, I don't plan on ever getting one.
Multiple 2% cashback cards
Amazon prime - 5% off Amazon and Whole Foods purchases, but you have to be a prime subscriber
Robinhood gold -3% off anything for $60/year
Amex blue cash rewards - 6% off groceries(and gift cards bought at supermarkets) for $75 per year
Maybe Apple's influence will help but certainly worrisome for ne.
The actual rewards are pretty average, but that's okay. I don't really get the elitism I'm seeing in the comments from people who act like you're an idiot for not juggling a half-dozen cards with varying annual fees and rotating bonus points categories. For people who don't travel, rent cars, dine out, etc. the Apple card is a fine everyday card given the number of places that qualify for 2%. In the end, for people making the average US salary, +/-1% in limited categories is not worth the administrative overhead and credit impact of managing a bunch of cards.
I personally enjoy some of the min-maxing involved in managing cards/finances, but I wouldn't go as far as to call somebody 'financially illiterate', as one commenter did, for using the physical apple card and receiving 1% back on the rare occasion contactless payment doesn't work somewhere.