Apple Credit Card Explained | Apple Credit Card Reaction

It’s just a card, relax. So, Apple has recently announced a bunch of their new subscription services, as well as their
own new financial instrument, called an Apple Card. Instead of dropping a video
immediately after the press release – just like everybody else, I took some time to
stop and think about what is the point of this move, and who is this card really
for. So, there’s nothing really new about this Apple Card. A new kind of credit
card created by Apple not a bank I mean… Sure, the physical card was designed by
Apple in California, but the entire concept of this credit card, as well as
the implementation of it, is just another regular credit card! So, who benefits
directly from this? Goldman Sachs! Because that’s the bank behind this card.
Actually, just like with apple upgrade program when you apply for it and get
your 24 iphone payments, those payments are not done by Apple, but by
Citizen One bank (or at least this was the bank when they started it a few years
ago) So you basically apply for a loan from
Citizen One to get that iPhone. Just like a lot of popular stores have their own
rewards credit cards, Apple card is very similar. The rewards credit cards let
the users obtain points at those specific stores every time they make a
purchase there, but the card does not have to be used there exclusively. That
same card can be used as well at the liquor stores or gas stations. It’s just
another credit card with the brand logo on it. Apple card completely rethinks
everything about the credit card. Again – great sentenced but doesn’t really mean
anything in this situation since it’s a credit card I mean it’s a credit card it
represents all the things Apple stands for all right let’s stop here for a
minute remember how Apple removed firewire
ports from all their computers what the hell is firewire?! I know right? so yeah,
Apple removed firewire ports from all their computers and others followed. Then, Apple removed DVD drives from their laptops and others followed and then
Apple removed all the ports but one and removed a headphone jack from the iPhone
and the industry adjusted again also what’s it Apple who introduced Apple pay
the main point of which was I emphasized that you don’t need an actual physical
credit card at all but this time it’s an Apple designed titanium card to use
anywhere in the world I mean no way this is so innovative it’s gonna take me a
few months to understand how did they come up with this such an avant-garde
solution I mean fantastic well for every purchase you make you get daily cash
also known as cashback I mean another frontrunner idea that will hopefully
have its place somewhere in the nearest future now the interface purchases and
categories min tab does this for years now why not call it for example Apple
finance then to generalize all these finance related features instead of
separate Apple pay Apple cash Apple card there was a statement somewhere that
they also attempted to have lower APR than everybody else
on the website it says that as of April 2019 the interest rates are between 14
and 24 percent that is pretty much the average numbers among every other credit
card but what people are actually so excited about the card it’s beautiful it
has your name it’s titanium he doesn’t have numbers it doesn’t have expiration
date or the code it just looks really cool says Yahoo Finance reporter that’s
exactly what it is the card is pretty like any of the reasons listed above
actually really mattered ever the card is pretty guys I mean guys and girls
everybody guys if you have a titanium credit card was Apple logo on it it
doesn’t mean that you take first-class flights now it’s just a card relax relax
3% cashback on Apple purchases sure 2% back on Apple pay only when use an Apple
pay not the physical card hmm 1% cash back on everything else
literally almost every other credit card has this right so my camera stopped
recording and I didn’t know that but don’t worry guys I’m almost done I’m
gonna continue from here and wrap it up all right so there’s nothing really
interesting about this card but what comes next after it the way I see it is
that they need somewhere to start and they start with good ol credit card just
like original iPhone was pretty much a phone with a touchscreen and then a few
years later it effectively took over the world or for example the first MacBook
Air that could fit into an envelope but was useless for anything then type in
plain text or checking emails I’m excited to see what comes next after
this Apple card thing but for right now I don’t see any reason to get one unless
you shop a lot of Apple zone stores so this is it on my thoughts on the Apple
credit card please share your thoughts and feelings in the comments below
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