Apple Card

[szeli]

u can use cash only. u want to use credit yet want most things free. bank is running a biz to make a earning.
some more credit given is unsecured.

err I did not say I want things free. no fees is e selling point of this  Card. how wud  roll this out here if it has different terms here in SG? n pls u make it sound like banks giving credit for free, I hope u do know how much they earn per transaction when merchants take a credit card payment.

 

[xtwis7]

Pretty much impossible for us to get it here

 

[*adiBOY]

Pretty much impossible for us to get it here

It will eventually be here. Don't worry about it.

This is the card that will disrupt the CC market.

 

[Glariel]

Pretty much impossible for us to get it here

Maybe will in future bah
Look at ECG, we thought it wont come here and end up it came.

 

[JAson1980]

It will eventually be here. Don't worry about it.

This is the card that will disrupt the CC market.

NOt really, depends on what are the rewards.


It will never replace miles accumulation card for sure.
Maybe if Apple Airlines is launched. but then, it would probably be obscenely expensive to fly and the burn rate for miles is worse than SQ.

 

[*adiBOY]

NOt really, depends on what are the rewards.


It will never replace miles accumulation card for sure.
Maybe if Apple Airlines is launched. but then, it would probably be obscenely expensive to fly and the burn rate for miles is worse than SQ.

Disrupting not in terms of benefits but in terms of the outdated late and finance charges and also the annual fees.

 

[htngwilliam]

Yup. Imagine if there is no annual fees, late charges, then it is the card to go. Apple make it look very exclusive and is better than those nonsense card.

 

[hacktic]

But no cashback or krisflyer miles?

 

[boliao45]

How long? 3years? 5 years?

Maybe will in future bah
Look at ECG, we thought it wont come here and end up it came.

 

[JAson1980]

Disrupting not in terms of benefits but in terms of the outdated late and finance charges and also the annual fees.

Annual fees i agree is outdated. but late charges and finance charges can be avoided by paying on time. Unless you are saying that the Apple card lets you hold on to your overdue charges without any interests which i seriously doubt so although Apple has the reserves to do that. End of the day, they re a profit organization, not a charity.

 

[szeli]

well this Nomura analyst thinks G.Sachs spends $350 to acquire each  Card user. huge risk on e bank

https://www.cnbc.com/2019/08/14/gol...the-next-recession.html?__source=twitter|main

 

[*adiBOY]

Annual fees i agree is outdated. but late charges and finance charges can be avoided by paying on time. Unless you are saying that the Apple card lets you hold on to your overdue charges without any interests which i seriously doubt so although Apple has the reserves to do that. End of the day, they re a profit organization, not a charity.

There will be interest accrued if there's a late payment of cos but at the CC regular rate and that's about it.

The interest rate will be borne by the bank and not Apple.

 

[WuYarBo]

Annual fees i agree is outdated. but late charges and finance charges can be avoided by paying on time. Unless you are saying that the Apple card lets you hold on to your overdue charges without any interests which i seriously doubt so although Apple has the reserves to do that. End of the day, they re a profit organization, not a charity.

Bank don't like timely paying users to be honest.

Just cancelled my Capital Amex this morning as they not willing to waive the annual fee. I've be using it on a monthly basis and they say it not enough lol. Oh I pay on time btw

 

[Jirachi]

Do u know wat banking licence Goldman has in Sg? They do not have a licence from MAS to issue CC in Sg!!!

I believe Goldman Sachs got commercial license for business not consumer in Singapore.

via  iPhone X Space Grey HardwareZone Forums app

 

[Jirachi]

NOt really, depends on what are the rewards.


It will never replace miles accumulation card for sure.
Maybe if Apple Airlines is launched. but then, it would probably be obscenely expensive to fly and the burn rate for miles is worse than SQ.

No annual fees is already going to disrupt the market.

via  iPhone X Space Grey HardwareZone Forums app

 

[htngwilliam]

To be honest, I think traditional banks need to learn through the hard way from fintech company.

1. Doesn't make sense to pay annual fees. Of course some who earn in the $150-200k salary still pay annual fees for some cards to get exclusive perks. This is similar to olden days where you have to pay tv license. Those clowns realised they are stupid and they wake up

2. Late fees. Machiam like loanshark. Just keep adding till u die. Sometimes u tends to forget. Of course if you call to waive, they may waive it but waste of time

3. Interest for not paying ur bill in full. From what I understand, it is 24% per annum. It is hell a lot of interest. Fixed D only 2%. Banks has been making a lot of $ and it is time for payback

To be honest, bank need some wake up call. Lehmann bros, hyflux bonds etc... Well, we happy because ppl are screwed? Those are hard earn $ lei. Banks always think of profit and themselves first. They should think from customers' perspective and not treating us like carrots

 

[JAson1980]

To be honest, I think traditional banks need to learn through the hard way from fintech company.

1. Doesn't make sense to pay annual fees. Of course some who earn in the $150-200k salary still pay annual fees for some cards to get exclusive perks. This is similar to olden days where you have to pay tv license. Those clowns realised they are stupid and they wake up

2. Late fees. Machiam like loanshark. Just keep adding till u die. Sometimes u tends to forget. Of course if you call to waive, they may waive it but waste of time

3. Interest for not paying ur bill in full. From what I understand, it is 24% per annum. It is hell a lot of interest. Fixed D only 2%. Banks has been making a lot of $ and it is time for payback

To be honest, bank need some wake up call. Lehmann bros, hyflux bonds etc... Well, we happy because ppl are screwed? Those are hard earn $ lei. Banks always think of profit and themselves first. They should think from customers' perspective and not treating us like carrots

Point 1. Agree.
Point 2. User problem
Point 3. user problem


Agree? if you have problem paying off your bills, you should not get a credit card at all, an ATM card would serve you better.

 

[JAson1980]

No annual fees is already going to disrupt the market.

via  iPhone X Space Grey HardwareZone Forums app

I have not paid any annual fees on my credit cards before. Why? because i use them. if you don't use them and the bank charges you for the annual fees, just cancel. So ya, even a card with no annual fees is not going to disrupt the market.



FYI, CIMB card has no annual fees. don't see it disrupting the market at all.



https://www.cimbbank.com.sg/en/personal/products/cards/credit-cards/cimb-platinum-mastercard.html


Member For Life, With No Annual Fee

• Experience the convenience and freedom of owning a CIMB Credit Card with no annual fees for the Principal Cardmember, ever.

 

[htngwilliam]

You take a lousy bank to compare with the top brand in the world. Very strange. Picanto and Rolls Royce also 4 wheels. Same?

 

[boliao45]

I dont see GS as a "good" bank brand, it didn't even have the banking license here.

You take a lousy bank to compare with the top brand in the world. Very strange. Picanto and Rolls Royce also 4 wheels. Same?