Your credit score will determine where do you get 13 or 24% interest. The higher your credit score, the lower your interest rate.
Joney [email protected] "If God can bring you to it, He will lead you through it." > On Mar 28, 2019, at 11:53 PM, Sieghard Weitzel <[email protected]> wrote: > > I wonder what determines whether your Apple card gets 13% interest or 24% and > also what exactly they mean by “no penalty”. > If I don’t pay my statement balance in full by the due date I don’t get a > penalty either, but I am being charged interest and as we all know, interest > on credit cards are high whether they are 13%, 19% or 24% > Especially if you consider how low interest rates still are, I pay less than > 3% on my mortgage and a line of credit here in Canada is typically anywhere > between 6% and 8% depending on your situation and ability to back the line of > credit with equity in your home. > What was written about being able to basically generate new card numbers is > interesting and a constantly changing CVV would also make fraud difficult. > > new card numbers being genew > > depending on > > From: [email protected] <[email protected]> On Behalf Of > KliphnShari Miller > Sent: Thursday, March 28, 2019 4:40 PM > To: [email protected] > Subject: Apple Card tidbits: No support for shared accounts, security > details, penalty interest rates, more - 9to5Mac > > Chance Miller > > One of the most interesting announcements from Apple’s event on Monday was > the Apple Card. While a number of details about the card were revealed on > Monday, TechCrunch is out today with a closer look at Apple Card and how it > works. > TechCrunch’s Matthew Panzarino explains that the version of Apple Card shown > on Monday is Apple’s “version 1.” This means that, much like other Apple > products, the company will be “iterating on the contest with new features and > benefits.” > One of the things about Apple Card that Apple touts is that it will offer > “interest rates that are among the lowest in the industry.” The fine print > here says that rates will vary between 13 percent and 24 percent, which is > rather standard in the credit card industry. Panzarino notes of two things > Apple will be doing to set itself apart here. > For one, there is no “penalty interest rate” on Apple Card. Apple touted on > stage on Monday that there would be no fees for late payments, which led some > to speculate that Apple would increase your interest rate if you were late. > That isn’t the case. > Penalty rates are an increase of your interest rate if you fail to pay on > time. That is not true. Apple Card has no late fees and no penalty rates. You > will continue to pay your agreed upon interest rate on your outstanding > balance, but that rate will not go up. It will impact your credit score, as > Apple does do standard reporting. > Further, Apple will attempt to “place Apple Card users at the low end of > their interest rate tier.” This means the company will try to “shift you to > the bottom of a tier when you qualify” as opposed to having you pay the > interest rate that correlates exactly to your credit score. > Other details of note include that Apple Card does not require a signature, > as well as the fact that the physical card has a “fixed number on the mag > stripe, but you don’t know what it is.” The only thing you see are the last > four digits. There is also no support for multiple users or shared cards, > while replacement cards are free. You’ll also have to have two-factor > authentication setup. > In terms of security, Apple Card will allow you to generate a new credit card > number at any time through the Wallet app. Furthermore, your CVV will refresh > at every transaction. > You can hit a button to regenerate the PAN (primary account number), > providing you with a new credit card number at any time. This is great for > situations where you are forced to tell someone your credit card number but > do not necessarily completely trust the recipient > Each purchase requires a confirmation code (CVV) that will refresh every > transaction. > Last but not least, Panzarino offers some color on why Apple decided to base > the Apple Card rewards system on cash back instead of points or miles. > Essentially, Apple wanted “the simplest, most universal benefit structure,” > which is cash. > Read TechCrunch’s full report on Apple Card here, which offers up more detail > on Apple Pay Transit and more. Earlier this week, we showed you the unique > setup process of Apple Card in the Wallet app. > > > Are you testing an apple beta? want to discuss bugs with other testers? > Then come join a friendly, helpful, laid back community where we can squash > these bugs together, and report them to apple. Subscribe here > [email protected] > Because of the non disclosure agreement, I have to say if your not a beta > tester, please don’t join the group. > > > -- > The following information is important for all members of the V iPhone list. > > If you have any questions or concerns about the running of this list, or if > you feel that a member's post is inappropriate, please contact the owners or > moderators directly rather than posting on the list itself. > > Your V iPhone list moderator is Mark Taylor. Mark can be reached at: > [email protected]. 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Your list owner is Cara Quinn - you can reach Cara at > [email protected] > > The archives for this list can be searched at: > http://www.mail-archive.com/[email protected]/ > --- > You received this message because you are subscribed to the Google Groups > "VIPhone" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To post to this group, send email to [email protected]. > Visit this group at https://groups.google.com/group/viphone. > For more options, visit https://groups.google.com/d/optout. -- The following information is important for all members of the V iPhone list. If you have any questions or concerns about the running of this list, or if you feel that a member's post is inappropriate, please contact the owners or moderators directly rather than posting on the list itself. Your V iPhone list moderator is Mark Taylor. Mark can be reached at: [email protected]. Your list owner is Cara Quinn - you can reach Cara at [email protected] The archives for this list can be searched at: http://www.mail-archive.com/[email protected]/ --- You received this message because you are subscribed to the Google Groups "VIPhone" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at https://groups.google.com/group/viphone. For more options, visit https://groups.google.com/d/optout.
