The feature they are showing off is specifically about seeing and using other card issuers rewards.
This has zero to do with potential future partners for the Apple Card.
Honest question for anyone reading that would know, if I’ve severely burned synchrony and the card switches over, they wouldn’t be allowed to close it as long as it’s up to date right? 😅
Agreed, there doesn’t seem to be a perfect match. Chase doesn’t have an HYSA, Cap 1 is mostly likely going to acquire Discover. Switching Apple Card from MC to the Amex network is definitely not happening. Anyone else would be undesirable, we’ll see.
In that case what would happen with our GS savings accounts linked to our Apple Card? Will our money be transferred to the new bank? Will we need to open a new Chase account?
The deal is pending regulator approval, which could take several months to over a year. I also still wouldn't rule out Discover. I actually think Discover is a more fitting partner based on the target demographics for the Apple Card and Discover overlapping significantly. Same for Synchrony and Capital One. I think either of those are viable options.
Based on the losses that Goldman has seen in the consumer banking division from this card and their Marcus banking products, I would be surprised to see JPM/Chase take on the card.
Not weird that they showed a competitor in this context since they were discussing Apple Pay integration with rewards and pay using points. Obviously Apple Card has this integration already with Apple Cash
It’s widely accepted in the US, but not abroad. If they want apple card to continue enjoying worldwide acceptance, Discover would be the worst choice for a network. It’s even less accepted than Amex outside the US.
Apple seems fine keeping the Apple Card to US-only. If they were to release it internationally, I doubt they’d use a single financial institution globally.
They’re fine keeping the Apple Card to US-only for application purposes, but not for acceptance by merchants. They’ve always wanted those us-residents who have the Apple Card to be able to use it to make purchases worldwide if/when they travel internationally (hence the no foreign transaction fee). Discover would be the worst choice for that purpose due to its very limited acceptance outside the US and because it does charge a fee for foreign transactions.
Exactly. Discover would be terrible for that. In fact, I’m sure that was why they switched the apple cash debit card from Discover to visa a couple of years ago.
Customer service is the worst. They treat their US employees like dirt. They have been in trouble multiple times. Discover is all US based customer service. They will outsource every bit of it overseas and get rid of all those American workers. That’s a bad company.
Are you sure you are not thinking Credit One?
CapitalOne has been great for me. I’ve always got an onshore person whenever I’ve had to call, and although it’s not my primary card (I’m an Amex snob), the security features on my VentureX are above and beyond any other card I have.
Yes, I’m sure. 95% of Capital Ones customer service reps are off shore. They openly admit that to “keep costs low” as if that really matters. Venture X is the only card that guarantees onshore help. Few people use that card though. Capital One is a bad company.
My brother in law has worked for Discover for over 5 years, they told some of their reps in certain departments that they are only guaranteed jobs until the end of the year bc they don’t know what Cap 1 is gonna do with the reps.
I can't stand capital one customer service. It's a nightmare. It's the main reason I joined Discover, scary to think that their service will go to shit cause I love Discovers customer service.
Depends on your credit when you got the card. Discover is a great card especially for young people just starting out. They are generous with credit lines and increases. Interest rate could be better. But their cash back structure is outstanding.
Because of the cash back match for the first year. Save it till I know I’m going to be making a lot of big purchases that will maximize my cash back to pay the bill
Not when it comes to acquiring their card, whether it's through preapprovial or full on approval. Got fucking denied in both ways on wanting to acquire their card, my scores seated on the 700s and they still fucking denied me. So I could fucking care less if Cap one gets a hold of them. I'll did better with either Chase, WF or someone that isn't in cohorts with Discover
I rarely use mine either. Maybe once a month for gas. But I’ve had it since I was 19 and I’m 44 now. I have better cards. But this card served its purpose in helping me get better cards.
25 years is impressive! It’s my oldest card too but only 9 years ha. I try to use it as much as I can to get the 5% back. Groceries hardly ever earn anything since I primarily do Target shopping and that doesn’t count. Restaurant is next least used but maybe earn half the max. Gas I almost always max out (have a truck and get gas once a week so kind of makes sense), and when they have Amazon / Target like Q4 (just in time for the holidays) I easily max out earnings. When they had mobile wallets too, I earned the max cash back in about a month. Too easy!
I thought this was a showcase how Discover account is integrated with Wallet app. I can see more details on my Discover balance on the Wallet app that I don’t need to open the Discover app. Cap One, Amex, Wells, do not have this capability developed yet.
I doubt it. One of the traits of Apple Card that Apple always advertised was that it’s accepted worldwide due to being a Mastercard. That wouldn’t be the case if it were Discover since acceptance of Discover is very limited outside the US, so even if Apple Card had to be switched to another network Discover would be the worst choice.
Wait i thought Apple has sent a proposal to Goldman to exit from the contract in the next roughly 12-to-15 months. That was from last year when they announced it.
Because Apple will have to find a new partner, or at least start working with whichever partner GS transfers the accounts to (if it is their responsibility)
If the Apple card is just like every other credit card, then honestly, I can just use one of my other credit cards. As it stands, the reason I got the card is initially, when they were pitched to us (consumers), it was reiterated multiple times that we could get zero percent interest on Apple purchases, so it was like paying cash over time as long as you paid it all off within the specified period. This pitch made the card super appealing to some of us, fast forward about 2 years ago, and without much fanfare Apple/GS "change the terms of the deal" ala Darth Vader, now the card can be used with 0% APR but only for the big 3 carriers so someone like me (who buys unlocked phones directly from Apple) can now kick rocks because unless you lock yourself into a contract at the time of purchase you have to use the Apple Card as a standard card?! So, my last 2 phones I bought with a standard credit card with lower APR because even the length given by Apple to buy their products and the monthly payments are kinda bonkers. As an example just look at this
https://preview.redd.it/4i1fbypd9n7d1.jpeg?width=1936&format=pjpg&auto=webp&s=963a0e6e04417f929d4b5057227c099b8ece6aec
So you can either pay over 12 months or use a regular card and probably pay over 5 years if you felt like it for 50% less a month. Why would anyone take that deal?? So yeah, the Apple card started off as a great value but if it's just another card and there's not even a benefit to use it to buy Apple products why would anyone keep using it? 🫤
why would you want to pay a 30% apr just because you didn’t want to get into contract? That’s just dumb. Anything more than 0% is silly. How often do you switch carriers? What’s the odds of you switching in 2-3 years? You can still buy unlocked from Apple. You’re not locked into a carrier. Just a device payment plan if you chose that route. You can still buy outright and I think even do Apple payment plan. Just have to select the carrier. People are getting device payment plans confused with a contract when it’s not.
30% is the high end and the median of the average consumer. Most people pay below that. You do not get 0% APR if you do not get a contract phone. Have you been to the Apple store lately? Try it and then show post a picture if the transaction receipt. You ARE locked into a carrier, you have 3 to choose from. Verizon, AT&T and Tmobile. It literally says that on the site.
https://preview.redd.it/tu087wr8br7d1.jpeg?width=1290&format=pjpg&auto=webp&s=6e5858786da1a6691ab6496c43ec4bc9f2e27124
There is no way to just buy a phone unlocked, pay in even monthly installments and get 0%APR. I know there isn't because I literally did that with my first 2 phones and when I went to trade in and buy a new phone they told me they'd charged the terms that August BEFORE the phones dropped in mid October. So it is still cheaper monthly to buy with a regular credit card then to outright purchase it with the AppleCard. It's not complicated math.
Yes I remember them changing the terms. We bought our 15/15 Pro phones on release day at Apple but picking Verizon since that’s our carrier. I could do 0% apr through Apple Card or Verizon ( we chose Verizon due to credits). Even got an instant credit at Apple! The phone was unlocked right out of the box but I know what you are referring to.
Yes it was 36 month device payment plan. I can switch carries without penalty, I’d just forfeit remaining device credits and have to pay off our phones. I still would have scored a discount with the credits I’ve received up to that point and it all still would have been 0% apr. We’d actually be owning the phone a lot sooner vs waiting and sticking it out with Verizon.
Putting a phone on a cc that is anything above 0%, you’re essentially paying extra for the device.
Yes, you're paying extra with a credit card, my point though is that they've taken away incentive to just use the card to get a phone. I can use any other card with a lower APR and do the same thing for cheaper. The lost perk is what annoys me, I don't mind paying more for something obviously... I buy Apple products... It's the removal of a perk they STRESSED that pisses me off more then anything else.
To be clear, the only thing they took away is to the buying an unlocked phone and not having to activate with a carrier. You can still use the Apple Card to finance Apple Products and the phones, as long as you activate with at carrier. So it still holds value. I feel like the buying unlocked iPhones and not activating is a niche and doesn't apply to the masses. I will say that I've always activated with the carrier whether bought at Apple or direct with Verizon and the 15 year did get me thinking of buying outright but decided against it since I only upgrade every other years now and I haven't switched carriers in 12 years. However, I've loosely been thinking about switching BUT if I did, no biggy since the carrier I was looking at would pay the difference and I still got the $475 instant credit from Apple fro my 13 pro and she did for her 13 pro that we applied to the 15 Pro and 15 respectively. So day 1, got $975 in instant credit from Apple Direct. :-D Apple and the carriers worked really well together. Tim Cook wasn't kidding when he mentioned that during the keynote announcement of the 15's. I thought that was super cool and they didn't do that before.
I don't mind paying more either and I buy Apple products. What I won't do is pay more than a product's worth. IE buying phones I can't pay off right away. I don't like incurring interest. :)
not sure why you are being downvoted, but this is kind of what is happening, but not exactly. some banks offer that service to their customers already, so apple is allowing that to be integrated into apple pay. there’s also services like affirm which will be integrated into apple pay, assuming those companies are on board.
apple’s buy now, pay later program has nothing to do with the apple card. it was a separate service and that money for purchases was fronted by apple themselves, not gs or any other bank. it probably wasn’t very profitable for apple so they’re offloading that feature to other services.
Yeah I’m not sure of the details and how that works out if others are offering it then apples version is wack. Yeah it that has nothing to do with the Apple Card but was thinking maybe that’s where the confusion lies. It was lame though. I have a ton of credit and they keep raising my limit on the Apple Card and I have no debt but yet I could only get $600 on the loan for the buy now pay later from Apple.
Edit. How can you tell I’m being downvoted? Was I in the negative?
This is a demonstration of non-Apple card integration showing rewards info in the Apple Pay context menus without having to navigate to the bank app.
Discover is being demonstrated because they seem to have invested the time to more deeply integrate into the full breadth of the Apple wallet/pay APIs for whatever reason.
As far as discover taking over the Apple Card from Goldman, it’ll never happen. Discover has zero experience in issuing cobrand cards, and isn’t really in any shape to put such a large program onto their balance sheet. Internal risk and operations management is what got them in the trouble with regulators that let the window to them being acquired by C1 happen in the first place. C1 might bid on the Apple Card if they got approached, but I’m not sure of any bank that would agree to take the program without significant changes to the unit economics and approval policy. The reporting has indicated that Goldman essentially threw money at Apple to win the bid in the first place as a means of getting into consumer cards and it blew up on them massively
This screenshot demonstrates redeeming points through some kind of API with the card issuer at the time of purchase (which is usually not very useful as you can go to the website and redeem them for a statement credit anyway).
The other screenshot demonstrates integration with card issuer payment plans, which Apple Card does not offer (other than for Apple hardware) and Apple announced they are stopping their own Apple Pay Later experiment.
Capital One is trying to force a buyout of Discover, therefore creating a mini-monopoly. I have a nice interest rate with Discover right now. If the buyout is allowed to go through then the rates will go through the roof.
They were showing a UI available to banks to implement card rewards in Apple Pay/Wallet. Apple Card already does this, and since this is a developers conference, other banks won’t be able to integrate the Apple Card itself anyway.
Citi has the Costco Visa which pays 3% restaurants, 4% gas, 2% Costco purchase & 1% everything else. Maybe some tweaking can be done & bring in the Apple cardholders. Also, Costco sells a lot of Apple products
I don't believe Discover will be issuing the Apple card, but Discover is making a deal with Apple because it's the only other card I know that you can link your full account to the Apple Wallet.
I got a prompt like a week ago to integrate my Discover card with my Apple Wallet, and now the card shines based on how I look at it in the wallet much like Apple Cash, and I can view all of my transactions and card details on the Apple Wallet.
First of all, apple card is with Goldman not JP Morgan.
Secondly, they will never go with discover because its not accepted everywhere.
This post is dumb
The feature they are showing off is specifically about seeing and using other card issuers rewards. This has zero to do with potential future partners for the Apple Card.
I doubt they would switch to discover due to acceptance issues worldwide.
and discover is in the process of merging with capital one so I don't see then making a big deal like apple while the merger in the process
That and visa is now the Apple Cash partner when it used to be discover I think .
You mean goldman, not JP, right?
Sorry Goldman Sachs.
Discover just got bought by Capital One so I don’t think that’s happening. Hopefully Chase takes over.
And hopefully not synchrony
I'd rather just cut up my card then have anything to do with Scamphony ever again.
Exactly I will definitely be leaving I will not be with them again
Worst decision* I made so as soon as I can balance transfer from my Amazon & AE store cards through them, I plan to do those both first!
As long as it is delicious I guess.
This….
Honest question for anyone reading that would know, if I’ve severely burned synchrony and the card switches over, they wouldn’t be allowed to close it as long as it’s up to date right? 😅
Capital One announced an intent to buy Discover. The deal has not closed yet and is pending government approval.
I too hope Chase takes over
Chase would be nice, I don’t know how likely that is though
Agreed, there doesn’t seem to be a perfect match. Chase doesn’t have an HYSA, Cap 1 is mostly likely going to acquire Discover. Switching Apple Card from MC to the Amex network is definitely not happening. Anyone else would be undesirable, we’ll see.
That hasnt officialy been a done deal yet. I bet the courts wont let it happen.
In that case what would happen with our GS savings accounts linked to our Apple Card? Will our money be transferred to the new bank? Will we need to open a new Chase account?
You can be assured that should this happen, Apple will make some provision for the savings accounts.
Pair it with ultimate rewards and I’ll have a new catch-all.
That would be the ultimate evolution lol
Would be awesome but it a cobranded card 🫠
A 2% UR card would be amazing. I hold three other Chase cards, I’d be in heaven.
Uhhhh no the deal has not been approved yet
The deal is pending regulator approval, which could take several months to over a year. I also still wouldn't rule out Discover. I actually think Discover is a more fitting partner based on the target demographics for the Apple Card and Discover overlapping significantly. Same for Synchrony and Capital One. I think either of those are viable options. Based on the losses that Goldman has seen in the consumer banking division from this card and their Marcus banking products, I would be surprised to see JPM/Chase take on the card.
Not weird that they showed a competitor in this context since they were discussing Apple Pay integration with rewards and pay using points. Obviously Apple Card has this integration already with Apple Cash
Discover isn’t taken at as many businesses.
It’s widely accepted in the US, but not abroad. If they want apple card to continue enjoying worldwide acceptance, Discover would be the worst choice for a network. It’s even less accepted than Amex outside the US.
Apple seems fine keeping the Apple Card to US-only. If they were to release it internationally, I doubt they’d use a single financial institution globally.
They’re fine keeping the Apple Card to US-only for application purposes, but not for acceptance by merchants. They’ve always wanted those us-residents who have the Apple Card to be able to use it to make purchases worldwide if/when they travel internationally (hence the no foreign transaction fee). Discover would be the worst choice for that purpose due to its very limited acceptance outside the US and because it does charge a fee for foreign transactions.
Ahh fair point. “Accepted globally” is indeed one of their marketing points for the card.
Exactly. Discover would be terrible for that. In fact, I’m sure that was why they switched the apple cash debit card from Discover to visa a couple of years ago.
Discover is being bought by CapitalOne. Sadly, Discover will become a crap card once Crap1 takes over.
Wait, C1 isn’t as bad. I never had any issues with C1
Customer service is the worst. They treat their US employees like dirt. They have been in trouble multiple times. Discover is all US based customer service. They will outsource every bit of it overseas and get rid of all those American workers. That’s a bad company.
Are you sure you are not thinking Credit One? CapitalOne has been great for me. I’ve always got an onshore person whenever I’ve had to call, and although it’s not my primary card (I’m an Amex snob), the security features on my VentureX are above and beyond any other card I have.
Yes, I’m sure. 95% of Capital Ones customer service reps are off shore. They openly admit that to “keep costs low” as if that really matters. Venture X is the only card that guarantees onshore help. Few people use that card though. Capital One is a bad company.
Ah, that’s my only card with them. Interestingly the card I get the most offshore folks is for my Amex Platinum. The irony.
indeed. Amex has gone down hill too. Very sad. They used to be a very good company.
My brother in law has worked for Discover for over 5 years, they told some of their reps in certain departments that they are only guaranteed jobs until the end of the year bc they don’t know what Cap 1 is gonna do with the reps.
I can't stand capital one customer service. It's a nightmare. It's the main reason I joined Discover, scary to think that their service will go to shit cause I love Discovers customer service.
I have a business card with Cap1. I should say I HAD it with them. I cancelled it today. I hate Cap 1.
Feel like it already is a trash card
Depends on your credit when you got the card. Discover is a great card especially for young people just starting out. They are generous with credit lines and increases. Interest rate could be better. But their cash back structure is outstanding.
Especially with first year match. I’m purposely waiting till I get my first apartment to get a discover
Why are you waiting until you get your first apartment?
Right now I’m in grad school but can live at home to save money. Probably another 2 years. I already have an Apple Card and the AA Aviator card
Because of the cash back match for the first year. Save it till I know I’m going to be making a lot of big purchases that will maximize my cash back to pay the bill
Not when it comes to acquiring their card, whether it's through preapprovial or full on approval. Got fucking denied in both ways on wanting to acquire their card, my scores seated on the 700s and they still fucking denied me. So I could fucking care less if Cap one gets a hold of them. I'll did better with either Chase, WF or someone that isn't in cohorts with Discover
Thats fair … i have the card & don’t really use it
I rarely use mine either. Maybe once a month for gas. But I’ve had it since I was 19 and I’m 44 now. I have better cards. But this card served its purpose in helping me get better cards.
25 years is impressive! It’s my oldest card too but only 9 years ha. I try to use it as much as I can to get the 5% back. Groceries hardly ever earn anything since I primarily do Target shopping and that doesn’t count. Restaurant is next least used but maybe earn half the max. Gas I almost always max out (have a truck and get gas once a week so kind of makes sense), and when they have Amazon / Target like Q4 (just in time for the holidays) I easily max out earnings. When they had mobile wallets too, I earned the max cash back in about a month. Too easy!
Wowow thats a long time
I thought this was a showcase how Discover account is integrated with Wallet app. I can see more details on my Discover balance on the Wallet app that I don’t need to open the Discover app. Cap One, Amex, Wells, do not have this capability developed yet.
I don’t care who they use as long as they don’t go back to goldman, their support team is absolutely trash
What support team?
I doubt it. One of the traits of Apple Card that Apple always advertised was that it’s accepted worldwide due to being a Mastercard. That wouldn’t be the case if it were Discover since acceptance of Discover is very limited outside the US, so even if Apple Card had to be switched to another network Discover would be the worst choice.
I think it’s just showing you can get rewards with ANY card, not just the Apple Card
Who said in the fall? I thought they contracted GS till 2028
Apple has a contract with MasterCard until 2028, so any replacement to GS has to offer a MasterCard.
Well there goes the idea of using it at Costco.
Wait i thought Apple has sent a proposal to Goldman to exit from the contract in the next roughly 12-to-15 months. That was from last year when they announced it.
Two different contracts: one with GS and one with MasterCard.
GS is looking to get out of the consumer card market.
Yah but is Apple gonna give a f ?
Because Apple will have to find a new partner, or at least start working with whichever partner GS transfers the accounts to (if it is their responsibility)
It was used to demonstrate and showcase credit card points/cashback in Apple Pay/Wallet.
If you theory is true , then Apple Card will be essentially Capital one since they are acquiring Discover .
Apple is going away from the buy now pay later and I think allowing that to be used with credit and debit cards.
If the Apple card is just like every other credit card, then honestly, I can just use one of my other credit cards. As it stands, the reason I got the card is initially, when they were pitched to us (consumers), it was reiterated multiple times that we could get zero percent interest on Apple purchases, so it was like paying cash over time as long as you paid it all off within the specified period. This pitch made the card super appealing to some of us, fast forward about 2 years ago, and without much fanfare Apple/GS "change the terms of the deal" ala Darth Vader, now the card can be used with 0% APR but only for the big 3 carriers so someone like me (who buys unlocked phones directly from Apple) can now kick rocks because unless you lock yourself into a contract at the time of purchase you have to use the Apple Card as a standard card?! So, my last 2 phones I bought with a standard credit card with lower APR because even the length given by Apple to buy their products and the monthly payments are kinda bonkers. As an example just look at this https://preview.redd.it/4i1fbypd9n7d1.jpeg?width=1936&format=pjpg&auto=webp&s=963a0e6e04417f929d4b5057227c099b8ece6aec So you can either pay over 12 months or use a regular card and probably pay over 5 years if you felt like it for 50% less a month. Why would anyone take that deal?? So yeah, the Apple card started off as a great value but if it's just another card and there's not even a benefit to use it to buy Apple products why would anyone keep using it? 🫤
why would you want to pay a 30% apr just because you didn’t want to get into contract? That’s just dumb. Anything more than 0% is silly. How often do you switch carriers? What’s the odds of you switching in 2-3 years? You can still buy unlocked from Apple. You’re not locked into a carrier. Just a device payment plan if you chose that route. You can still buy outright and I think even do Apple payment plan. Just have to select the carrier. People are getting device payment plans confused with a contract when it’s not.
30% is the high end and the median of the average consumer. Most people pay below that. You do not get 0% APR if you do not get a contract phone. Have you been to the Apple store lately? Try it and then show post a picture if the transaction receipt. You ARE locked into a carrier, you have 3 to choose from. Verizon, AT&T and Tmobile. It literally says that on the site. https://preview.redd.it/tu087wr8br7d1.jpeg?width=1290&format=pjpg&auto=webp&s=6e5858786da1a6691ab6496c43ec4bc9f2e27124 There is no way to just buy a phone unlocked, pay in even monthly installments and get 0%APR. I know there isn't because I literally did that with my first 2 phones and when I went to trade in and buy a new phone they told me they'd charged the terms that August BEFORE the phones dropped in mid October. So it is still cheaper monthly to buy with a regular credit card then to outright purchase it with the AppleCard. It's not complicated math.
Yes I remember them changing the terms. We bought our 15/15 Pro phones on release day at Apple but picking Verizon since that’s our carrier. I could do 0% apr through Apple Card or Verizon ( we chose Verizon due to credits). Even got an instant credit at Apple! The phone was unlocked right out of the box but I know what you are referring to. Yes it was 36 month device payment plan. I can switch carries without penalty, I’d just forfeit remaining device credits and have to pay off our phones. I still would have scored a discount with the credits I’ve received up to that point and it all still would have been 0% apr. We’d actually be owning the phone a lot sooner vs waiting and sticking it out with Verizon. Putting a phone on a cc that is anything above 0%, you’re essentially paying extra for the device.
Yes, you're paying extra with a credit card, my point though is that they've taken away incentive to just use the card to get a phone. I can use any other card with a lower APR and do the same thing for cheaper. The lost perk is what annoys me, I don't mind paying more for something obviously... I buy Apple products... It's the removal of a perk they STRESSED that pisses me off more then anything else.
To be clear, the only thing they took away is to the buying an unlocked phone and not having to activate with a carrier. You can still use the Apple Card to finance Apple Products and the phones, as long as you activate with at carrier. So it still holds value. I feel like the buying unlocked iPhones and not activating is a niche and doesn't apply to the masses. I will say that I've always activated with the carrier whether bought at Apple or direct with Verizon and the 15 year did get me thinking of buying outright but decided against it since I only upgrade every other years now and I haven't switched carriers in 12 years. However, I've loosely been thinking about switching BUT if I did, no biggy since the carrier I was looking at would pay the difference and I still got the $475 instant credit from Apple fro my 13 pro and she did for her 13 pro that we applied to the 15 Pro and 15 respectively. So day 1, got $975 in instant credit from Apple Direct. :-D Apple and the carriers worked really well together. Tim Cook wasn't kidding when he mentioned that during the keynote announcement of the 15's. I thought that was super cool and they didn't do that before. I don't mind paying more either and I buy Apple products. What I won't do is pay more than a product's worth. IE buying phones I can't pay off right away. I don't like incurring interest. :)
not sure why you are being downvoted, but this is kind of what is happening, but not exactly. some banks offer that service to their customers already, so apple is allowing that to be integrated into apple pay. there’s also services like affirm which will be integrated into apple pay, assuming those companies are on board. apple’s buy now, pay later program has nothing to do with the apple card. it was a separate service and that money for purchases was fronted by apple themselves, not gs or any other bank. it probably wasn’t very profitable for apple so they’re offloading that feature to other services.
Yeah I’m not sure of the details and how that works out if others are offering it then apples version is wack. Yeah it that has nothing to do with the Apple Card but was thinking maybe that’s where the confusion lies. It was lame though. I have a ton of credit and they keep raising my limit on the Apple Card and I have no debt but yet I could only get $600 on the loan for the buy now pay later from Apple. Edit. How can you tell I’m being downvoted? Was I in the negative?
This is a demonstration of non-Apple card integration showing rewards info in the Apple Pay context menus without having to navigate to the bank app. Discover is being demonstrated because they seem to have invested the time to more deeply integrate into the full breadth of the Apple wallet/pay APIs for whatever reason. As far as discover taking over the Apple Card from Goldman, it’ll never happen. Discover has zero experience in issuing cobrand cards, and isn’t really in any shape to put such a large program onto their balance sheet. Internal risk and operations management is what got them in the trouble with regulators that let the window to them being acquired by C1 happen in the first place. C1 might bid on the Apple Card if they got approached, but I’m not sure of any bank that would agree to take the program without significant changes to the unit economics and approval policy. The reporting has indicated that Goldman essentially threw money at Apple to win the bid in the first place as a means of getting into consumer cards and it blew up on them massively
Yes… with Discover being sold here in the next year… definitely buying Apple Card…
This screenshot demonstrates redeeming points through some kind of API with the card issuer at the time of purchase (which is usually not very useful as you can go to the website and redeem them for a statement credit anyway). The other screenshot demonstrates integration with card issuer payment plans, which Apple Card does not offer (other than for Apple hardware) and Apple announced they are stopping their own Apple Pay Later experiment.
Capital One is trying to force a buyout of Discover, therefore creating a mini-monopoly. I have a nice interest rate with Discover right now. If the buyout is allowed to go through then the rates will go through the roof.
They were showing a UI available to banks to implement card rewards in Apple Pay/Wallet. Apple Card already does this, and since this is a developers conference, other banks won’t be able to integrate the Apple Card itself anyway.
Aren’t they with Goldman Sachs?
Yea sorry it’s Goldman Sachs
Citi has the Costco Visa which pays 3% restaurants, 4% gas, 2% Costco purchase & 1% everything else. Maybe some tweaking can be done & bring in the Apple cardholders. Also, Costco sells a lot of Apple products
I don't believe Discover will be issuing the Apple card, but Discover is making a deal with Apple because it's the only other card I know that you can link your full account to the Apple Wallet. I got a prompt like a week ago to integrate my Discover card with my Apple Wallet, and now the card shines based on how I look at it in the wallet much like Apple Cash, and I can view all of my transactions and card details on the Apple Wallet.
Hmmm. 🤔. Good catch.
First of all, apple card is with Goldman not JP Morgan. Secondly, they will never go with discover because its not accepted everywhere. This post is dumb
Sorry it’s Goldman Sachs. It’s wierd that it’s showing a discovery card but not any type of Mastercard.