I’m sure there’s a thread somewhere in here about it, but I’m on the fence about getting it. I already have two other cards and really the only reason I want to get it is so I can do monthly payments on an iPad. Should I get one?
> really the only reason I want to get it is so I can do monthly payments on an iPad.
That’s about the only reason to get the Apple Card. That and if all your expenses are on Apple Pay and you want a “catch-most” 2% card.
There’s almost always better cards in any other case. Also, keep in mind that Goldman wants out of the agreement with Apple, and it might undergo changes in the short-medium term when GS exits the partnership.
You’re better off buying an iPad when it’s on sale from an authorized retailer like Amazon, Best Buy, or Micro Center.
Zia said:
You’re better off buying an iPad when it’s on sale from an authorized retailer like Amazon, Best Buy, or Micro Center.
Second this^. Retailers put them on sale a lot while the Apple Store will be full price. I saw this when comparing MacBook Pro prices. So even though you can finance for 0%, it’s not worth the extra total cost.
No, likely to be changed soon. https://www.wsj.com/finance/banking/jpmorgan-in-talks-with-apple-to-take-over-credit-card-from-goldman-67b24d14
This card’s primary use case died for me a few years ago. You can’t use 0% financing on new iPhones if you buy the unlocked models anymore.
It’s good for 0% financing and 3% back with Apple. 2% back with Apple Pay is useful. I haven’t used the physical card at all since I got it years ago.
Xan said:
It’s good for 0% financing and 3% back with Apple. 2% back with Apple Pay is useful. I haven’t used the physical card at all since I got it years ago.
2% back with Apple Pay isn’t useful when there are cards that are 2% on literally everything and one that’s 4.5% on Apple Pay.
@Yani
It is useful when it comes with 0% Apple financing AND that’s what the person is looking for.
If you need to make monthly payments on an iPad, you can’t afford an iPad. The Apple Card exists to bait you into buying things you can’t afford. That’s how debt problems start to snowball.
Yani said:
If you need to make monthly payments on an iPad, you can’t afford an iPad. The Apple Card exists to bait you into buying things you can’t afford. That’s how debt problems start to snowball.
What a strange blanket statement. Why wouldn’t you want to take a 0% loan? I have the cash flow to pay my phone off, but if I’m offered a 0% loan, I’m taking it.
@Eleanor1
That statement in itself is not wrong. 0% is great, but largely speaking the system is designed to victimize people who can’t handle the responsibility. Obviously, the majority of people on this sub can.
@Eleanor1
Because personal finance is not just a math problem, it’s also a psychology problem.
When it comes to spending $X upfront versus financing $X with a 0% loan, the math says to finance $X at 0%.
But the 0% loan often baits people into spending >$X.
@Yani
Perhaps, but in that case, win-win? Because 0 APR financing of X makes you pay less than X itself because money depreciates over time.
Also, in addition, you still get 3% back on top of the 0 APR…
Yani said:
If you need to make monthly payments on an iPad, you can’t afford an iPad. The Apple Card exists to bait you into buying things you can’t afford. That’s how debt problems start to snowball.
What? It’s 0% financing… so if somebody financed a car for 0%, can they not afford it? I financed an Apple Watch and an iPhone that I can 100% afford outright. Why would I pay upfront cash when I can finance for 0% and put that money in a HYSA making 4-5%.