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posted by martyb on Wednesday March 27 2019, @12:28AM   Printer-friendly
from the what's-the-catch? dept.

Apple announces Apple Card credit card

At Apple's "show time" services event today, it announced a new Apple Card credit card, promising to improve things about the credit card experience with simpler applications, no fees, lower interest rates, and better rewards.

To get an Apple Card, users will be able to sign up on their iPhone in the Apple Wallet app and get a digital card that they can use anywhere Apple Pay is accepted "within minutes." Customers will also be able to track purchases, check balances, and see when their bill is due right from the app. There will be a physical titanium card, too, but there's no credit card number, CVV, expiration date, or signature. All of that authorization information is stored directly in the Apple Wallet app.

Apple also says that it'll use machine learning and Apple Maps to label stores that you use in the app, and use that data to track purchases across categories like "food and drink" or "shopping." [...] Like many of Apple's products, privacy is a big push here. "Apple doesn't know what you bought, where you bought it, and how much you paid for it," said Jennifer Bailey, VP of Apple Pay. All of the spending tracking and other information is stored directly on the device, not Apple's servers. The company also promises that "Goldman Sachs will never sell your data to third parties for marketing and advertising."

Other companies have offered 3-4% cash back for certain purchases.

Also at Ars Technica.

See also: Apple's 2%-cash-back credit-card rewards are interesting, but I'm convinced people are overlooking the best part
Apple's new credit card holds a lot of promise, but read the fine print before signing up
Tim Cook says Apple Card is a game changer. Experts are not so sure
Apple's move into banking raises the bar for fintech, traditional credit cards

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  • (Score: 4, Insightful) by looorg on Wednesday March 27 2019, @02:20AM

    by looorg (578) on Wednesday March 27 2019, @02:20AM (#820454)

    So it's another one of their "life style" products that their selected target demographics audience just won't be able to live without. They are not really a tech company anymore, they are now selling a lifestyle. To be honest tho they have probably been doing that for quite a while now.
    It's another one of them below spec, shitty products that are not bought for being state of the art, or even remotely worth the money compared to a similar product, but instead are bought to signal whom you are to others -- they are little status symbols much more then they are great products. Just like your normal onyx/titanium/platinum/whateverelsesoundscool credit cards -- they are there to signal money, influence and that you are important.

    So there you are with your Power Mac, your iPad, your iPhone and you paid for them all with your iCreditCard like the good little iConsumer that you are. Next stop the Apple News+ echochamber where they'll tell you about the great news that you just paid for.

    Remember when Apple just made computers and an operating system ... Pepperidge Farm remembers ...

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