Fintech Twitter reacts to #AppleCard
- Twitter reacts to the announcement that Apple is serious about credit cards.
- Losing no time, people found the card's weakest spots.
Well, that didn’t take long. As people assimilate the announcement Apple made about its imminent Apple Card, fans and haters alike have taken to Twitter to air their (frequently funny) feelings.
Many people are excited about Apple Card and it does elicit all kinds of responses. The benefits for the end user are debatable, but it’s clear that Apple Card is really good for Apple.
The Apple Card’s neat physical attributes
The new Apple Card design is minimalistic and the card made of Titanium doesn’t display the cardholder’s name or credit card number on the physical card.
Challenger bank Revolut called Apple out for designing a card that looks quite similar to Revolut’s own card.
Even if Apple ripped off Revolut’s design, maybe Apple Card looks better?
Apple employees do keep secrets really well, don’t they? A fair number of tweets compared the Apple Card to Magnises, the credit card/social club scam that Fyre Fest grifter Billy McFarland came up with before the disastrous music festival.
The identity of the Apple exec who proposed a metal credit card with no number, no CVV, and no expiration date has been revealed: pic.twitter.com/n2TEvUaCDx— Betches (@betchesluvthis) March 26, 2019
Comparing Apple’s reveal of the Apple Card to this scene from American Psycho just speaks for itself.
Apple ups the luxury ante
People on Twitter poked fun at Apple’s trend toward the luxury end of products and experiences. Here again, a poke at Magnises.
Who but Apple could everyone so excited about a credit card?
Outside of an occasional outlier, like the Chase Sapphire card when it first launched, it’s hard to get consumers excited about a debt product. With Apple, not so.
People sitting in a room applauding a credit card is exactly a shot from the opening montage of a dystopian sci-fi flick. Congrats on giving me full body shivers, Apple event.— Anthony Carboni (@acarboni) 25 March 2019
Where does the card fit into the Apple ecosystem?
Apple Card helps to solidify Apple’s walled garden approach, funneling and locking in money throughout the ecosystem.
Turns out the biggest news at this event is probably the Apple Card, banking entirely through Apple is the ultimate ecosystem lock-in.— Michael Kukielka (@DetroitBORG) 25 March 2019
No fees, low interest rates…really?
Apple touted its sensitivity to expensive cards that are full of fees. Apple Card is supposed to do away with these fees and provide a low interest rate.
Some people saw an Apple Card as just a way to eke out more money per user for a company that’s lost its product mojo.
So I guess we’re about to see whether the power of defaults can generate another $40 a month in revenue per user— Casey Newton (@CaseyNewton) 25 March 2019
I’d probably be looking for the easy money too if my last big hardware idea was the HomePod