Apple card

Blazer

Anyone else get an invite to Apple Card during the night?
I was under the impression it was still limited to the US at present?

Creamy Goodness

Blazer wrote: »

Anyone else get an invite to Apple Card during the night?
I was under the impression it was still limited to the US at present?

Didn’t get an invite, definitely US only and will be for a long time.

Really think there’s more chance us getting visual voicemail before Apple Card tbh.

trisodioum

Blazer wrote: »

Anyone else get an invite to Apple Card during the night?
I was under the impression it was still limited to the US at present?

Yep, thought it was spam at first. Followed the link and and it just says ‘notify me when available’ or something along them lines!

drunkmonkey

From reading the retailer guide I can't see why they couldn't roll it out quick here like Apple pay.
It seems very locked down though as in it's useless unless you've an iPhone it can't be used like a normal credit card.
I can't see them offering the same cash back rates as the US without having sky high processing fees for retailers which would put it up with American Express and result in it not being accepted anywhere.
I get 0.5% back on my platnium card up to a Max of €225 a year. If Apple are offering 3/2% back I can see it being very popular but they better not be expecting retailers to subsides iPhone users.

Creamy Goodness

drunkmonkey wrote: »

From reading the retailer guide I can't see why they couldn't roll it out quick here like Apple pay.
It seems very locked down though as in it's useless unless you've an iPhone it can't be used like a normal credit card.
I can't see them offering the same cash back rates as the US without having sky high processing fees for retailers which would put it up with American Express and result in it not being accepted anywhere.
I get 0.5% back on my platnium card up to a Max of €225 a year. If Apple are offering 3/2% back I can see it being very popular but they better not be expecting retailers to subsides iPhone users.

Got a link to the retailer guide? For the retailer Apple Card is the exact same as any contactless payment so I wouldn’t be surprised if it had zero info in it as to Apple Card would be simple to roll out. It’s already done here 10 years ago.

Who’s paying for that 2%/3% it’s not Apple or Goldman Sachs. It’s the interchange fees which are hugely more expensive in the States than they are in the EU.

As you said the cash back wouldn’t be as lucrative over here the interchange fees is why you see Revolut metal offer 0.1% cash back in the EU and 1% elsewhere. The EU has placed a cap on the max these fees can be, the States? Well it’s a free for all. The EU - especially Ireland and Germany - as a whole is credit adverse, the small majority of people who have a credit card pay the balance in full every month. The credit providers make zero money on this so it’s not worth their while.

If they don’t give the same cash back their value prop dwindles and will have a very low uptake. That’s not to mention government fees and how that would work as again goes against their “no fees” feature.

Blazer

I think the notify me link is because I’m on iOS 13 and not 12.4. It says once you enter iCloud details again you’ll get the card prompt within 24-48 hours
I say if I downgrade to ios12.4 it would automatically pick me up.

drunkmonkey

Creamy Goodness wrote: »

Got a link to the retailer guide? For the retailer Apple Card is the exact same as any contactless payment so I wouldn’t be surprised if it had zero info in it as to Apple Card would be simple to roll out. It’s already done here 10 years ago.

Who’s paying for that 2%/3% it’s not Apple or Goldman Sachs. It’s the interchange fees which are hugely more expensive in the States than they are in the EU.

As you said the cash back wouldn’t be as lucrative over here the interchange fees is why you see Revolut metal offer 0.1% cash back in the EU and 1% elsewhere. The EU has placed a cap on the max these fees can be, the States? Well it’s a free for all. The EU - especially Ireland and Germany - as a whole is credit adverse, the small majority of people who have a credit card pay the balance in full every month. The credit providers make zero money on this so it’s not worth their while.

If they don’t give the same cash back their value prop dwindles and will have a very low uptake. That’s not to mention government fees and how that would work as again goes against their “no fees” feature.

Sorry was the apple pay guide I read, your right no info on the apple card as it's just apple pay, I don't see where the card comes into it as you can't use it anywhere as it all happens on the idevice your using.

I'd say not a hope in hell it'll be the same offer here, being using the aib card a good while and I'd say if they come close to that they'll be doing well. I'd jump at 2 or 3% cash back won't happen though.

awec

I think it will struggle for relevance here to be honest. The big selling points are the cash back, which we definitely won't see, and the wallet integration and fancy UI, which we have no need for.

We (Europeans) have a very different relationship with credit cards compared to Americans. In the US they use credit for everything, even mundane daily crap. Groceries, coffee, cinema trips, stuff that we just use debit cards for. We use credit relatively infrequently for larger purchases, or where we want more security on the purchase.

The whole point of the wallet integration is to keep track of your daily spending, see your trends etc, but we don't use credit as an everyday card, so it is of limited use. No need for this sort of functionality for only a handful of transactions a month, if even.

Draco

drunkmonkey wrote: »

I don't see where the card comes into it as you can't use it anywhere as it all happens on the idevice your using.

There'll be an option to get a physical card. Also the card details will be available in the app so you can use it as normal on the likes of Amazon.

drunkmonkey

Draco wrote: »

There'll be an option to get a physical card. Also the card details will be available in the app so you can use it as normal on the likes of Amazon.

Yea but the physical card is no use in the real world from what I read, you need your phone/watch with you.

brav

drunkmonkey wrote: »

Yea but the physical card is no use in the real world from what I read, you need your phone/watch with you.

No the physical card works like a chip and pin card, but does not have a card number visible on it and it does not have contactless so is used for when you need it when no contactless there

murpho999

Creamy Goodness wrote: »

Didn’t get an invite, definitely US only and will be for a long time.

Really think there’s more chance us getting visual voicemail before Apple Card tbh.

Why do people always say this about Apple and Ireland?

It was said about Apple Music, that we got on rollout and Apple Pay which only a few countries got.

I don't see any reason why this can't come to Ireland, it's just a credit card , nothing amazingly technical about it.

Whether Irish people would want is a different question.

Creamy Goodness

murpho999 wrote: »

Why do people always say this about Apple and Ireland?

It was said about Apple Music, that we got on rollout and Apple Pay which only a few countries got.

I don't see any reason why this can't come to Ireland, it's just a credit card , nothing amazingly technical about it.

Whether Irish people would want is a different question.

It's part track record and part my knowledge of the payments industry.

For the two you mention there's tons of others that aren't available in Ireland (including some mentioned above).

HomePod.
Apple Pay Cash (this is required for Apple Card Daily cash back).
Siri on Apple TV
Visual Voicemail
Apple News and Apple News Plus
TV Shows on iTunes
Physical Apple Stores
iPhone Upgrade Program
AppleCare+ (including theft).

Like with all things that aren't available in Ireland, I'm hoping to be wrong - and I'll probably be the first to sign up - but I really think we'll see all of the above (except for Apple Pay Cash) come to Ireland first than Apple Card.

IamMetaldave

So I’m away on a work trip and my colleague is from the states, he goes to pay the bill for dinner and drops his Apple Card on the bill. It’s a beautiful thing! Also, he was saying that you can have the number changed when you return from a trip. Pretty handy!

Also, I noticed it’s supported by MasterCard, so surely that would help launch it here?

Creamy Goodness

IamMetaldave wrote: »

Also, I noticed it’s supported by MasterCard, so surely that would help launch it here?

You’d think so but it’s a common misconception that mastercard would help here. Mastercard just provides the network from you tapping the card on terminal, to the merchants bank, to your bank to your card account (I simplified a little). They still need a bank to offer the actual credit line

Apple will need to find a bank over here willing to let them offer the sort of product Apple Card is in the States, considering how badly banks are squeezed here (as mentioned in previous posts) it’ll be a hard task. Then they’ll have to convince several banks to make it EU wide.

They could go after the U.K. which is the biggest market in the EU in terms of population (but brexit), next contender is Germany (but they’re an extremely cash/debit heavy country.

Love for them to prove me wrong though.

IamMetaldave

Man, interesting. I think you’re probably right then. Although, I would like you to be wrong! I’d love to have one of those cards! I used to think my N26 card was cool. Not so much anymore! Ha!

drunkmonkey

Slightly off topic but is the AIB platinum the best card for cash back or perks. Is that all Apple need to beat here?

drunkmonkey

Mr.S wrote: »

Pretty much. Avantcard has some decent rewards as well.

Thanks looks way better than the AiB one, think I'll be switching, can't see on the website is there a limit on the cash back.

drunkmonkey

Seemingly the card isn't a fan of denim, leather, coins or other credit cards.
https://www.zdnet.com/article/apple-warns-its-credit-card-doesnt-like-leather-or-denim/?ftag=COS-05-10aaa0g

Gumbo

drunkmonkey wrote: »

Thanks looks way better than the AiB one, think I'll be switching, can't see on the website is there a limit on the cash back.

Avantcard limit is €12 per month I think

awec

Bumping old thread, but WSJ reporting that Apple and Goldman Sachs (who actually supply the Apple Card) partnership is set to end early.

The gist is that Goldman have wanted out for a while now as this product just isn't going very well for them, but they're signed up for another few years, but it seems Apple are now going to agree to end early. Lots of it appears to be Apple's fault, e.g. Apple insisted that every single customer get their bill at the exact same time (00:00 on the 1st of the month) rather than them being staggered over the month, which resulted in huge support costs.

I am guessing Apple have been shopping around trying to find alternative providers, but this is one product I'd be amazed to ever see outside of the US particularly when the likes of Goldman are struggling to make it work.

Creamy Goodness

If you can't make money borrowing money to people in the States, you can't make it anywhere.

Average US household has $10k of credit card debt - https://www.visualcapitalist.com/visualizing-americas-1-trillion-credit-card-debt/

awec

https://www.boards.ie/discussion/comment/121433415#Comment_121433415

Yea it really doesn't bode well.

I don't think Goldman Sachs have a history of consumer credit, but if you can't get into the consumer credit business with Apple as a partner then it's never going to work.