"I have owned the Apple Card for 3 months … that's why it's terrible"
These dissatisfied customers aren't giving Apple Card much credit – and a writer on the popular Reddit Inc. discussion forum described what he describes as some of the most important card issues in a social media post that went viral.
The Reddit user, under the name PoliticalGuy2016, made a particularly critical critique of Apple.
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in a post titled "I have an Apple Card for three months, which is why it's terrible compared to other credit cards."
The poster, which identified himself as David and declined to give his surname, told MarketWatch that it vented its frustrations on Reddit before going to bed on Thursday night because it was tired of seeing compliments from online tech enthusiasts. who ignored the fact that the Apple Card was "losing the basic functionality" of many other cards.
"I woke up and was like, wow – I have a lot of notifications," laughed David, 23, who works at fintech in Washington, D.C. In fact, his original post received almost 1,200 comments in 12 hours early Friday afternoon.
David's comments come three months after the Apple-awaited laser-engraved titanium card by Goldman Sachs
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reach the market. Cardholders and analysts responded with mixed reviews. Early controversies include: accusing card algorithms of discriminating against women; the fact that AppleCard is not initially reporting consumer payment information to credit bureaus; as well as the widely derided care instructions that warn that leather and denim wallets can discolor the elegant card.
Still others love to display the elegant card as a status symbol – especially those who get 3% back on Apple products (under $ 1,000) at the Apple Store, as well as retailers and apps like Walgreens.
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David's other complaints include the absolutely "bleak" refund reward of 1% of the card when using the physical card. (However, it offers 2% back when using Apple Pay.) "Most cards offer between 1.5% and 2%," he writes, citing Citi.
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Double Cash card, in particular, which offers unlimited 2% cash on everything. "
An Apple representative was unable to respond immediately to an email request from MarketWatch about issues cited by its critics.
See More Information: Apple's new credit card offers 2% cash & # 39; daily & # 39; – what consumers need to know about it
David allows the 3% cash back on Apple-related purchases to be generous, but adds that this is often earned by other cards. For example, the Amazon Rewards Visa card from
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Chase offers 5% cash back across Amazon
and Whole Foods purchases, plus 2% back at restaurants, gas stations and drugstores, and 1% back in total. (And it's also a metal plate if you are looking for this interesting factor).
You also can't add authorized users to the card, he complained. "What kind of bulls from the 80's – is this?" He asks. He has learned that he cannot make payments on his desktop or laptop; Payments must be made in the mobile app or by talking to a customer service representative by phone. "I don't know any credit card providers so archaic that you can't afford a web portal," he writes.
But for him, the biggest drawback is that the card doesn't integrate with budget apps like Mint, which he says is "absolutely ridiculous." Bottom line – he assigns the Apple Card four out of ten stars, admitting that the four stars are only because "flex is good when you hit it on a table."
"I signed up because I was interested in maximizing rewards and wanted the 3% money back on App Store and Apple Store transactions. And I thought it looked cool. I really wanted to hold it because it's cool – physically." he tells MarketWatch. “But the basic functionality of almost every other credit card is missing,” he says.
An Apple spokesman said technology giant Cupertino, Calif., Is working to enable customers to export data to budget applications.
Key words: Here's everything Apple isn't saying about your new credit card
Still, the first problems caused some to stop using the newfangled card altogether. “I received the influence card a few months ago,” says another, “but I'm using less and less and will eventually stop. The money back was terrible.
Some complain that the Apple Card "binds" you to the Apple ecosystem because you need Apple Pay to enjoy the best money-back benefits, which requires an iPhone.
Others had problems with Apple Card customer service, such as a user who says someone stole the card number, but a customer service representative responded with "this can't happen."
And others have cited the "sexist algorithms" that have recently made headlines – including Apple co-founder Steve Wozniak – who launched an investigation into how the Apple Card sets credit limits and interest rates for cardholders.
See More Information: Apple co-founder Steve Wozniak also claims that the Apple Card discriminated against his wife
"I agree with the original poster that 1% of cash back on the physical card is below average and up to 2% on most Apple Pay purchases is not innovative (some merchants offer 3%)," Ted Rossman, analyst CreditCards.com, he told MarketWatch. “Most people go ahead using a card like Citi Double Cash, which offers 2% back on all purchases (technically 1% when you buy and 1% when you pay). The lack of Apple Card sign-up bonuses is also disappointing for reward lovers. "
"The Apple Card is, in essence (no pun intended), a very basic refund card," said Sara Rathner, credit card expert at NerdWallet. It has interesting technological bells and whistles, but if what the consumer really wants is a steady stream of cash back, without having to debate where to use a card and when, there are other options on the market. "
But Rossman also noted that "we are probably all guilty of keeping the Apple Card to a higher standard," so that the card could fall victim to the brand's earlier success. And he gave the card credit for "doing some cool things in the margins, such as improving security by housing the card number, expiration date, and card verification value on the phone, not the physical card."
He recommends it to those with subprime credit or new to credit because "you're unlikely to qualify for a card with better rewards than the Apple Card."
In fact, there were also comments on the Reddit thread that support the card. Some say that Apple Card interest rates are half the rates of other cards. Those who use Apple Pay often say they are reaping cash rewards, and Apple officials said more apps and retailers will be part of the 3% Daily Cash club in the future.
As for David's final verdict: "I probably won't use it unless I'm buying something from the App Store."