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Are There Any Downsides to Apple’s Fancy New Credit Card?

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For all of you Apple fans out there who are hoping to be privileged enough to get Apple’s credit card, make sure that this is something that you really want. Why exactly? If you perform a Google search for the Apple Card, the top result will be a link to Apple’s website indicating that the card was “created by Apple, not a bank”. Sure, you’re probably thinking – Apple has a ton of money so what gives? Well, in today’s world we need to be extra vigilant when it comes to keeping our data private. So on one hand, it’s great that Apple is letting you know this, but on the other hand tech companies are public enemy number one. Which makes me wonder if we should be trusting them with our finances?

Keep in mind, for those of us who have Apple products, we already trust them with a lot – so would this be anything different? That said, Apple is a company that has been very forthcoming with any issues or concerns. They’re quick to pull products or services when there are major issues, but there really aren’t that many issues if you think about it. They had a bad year a few years ago, but designing crummy products doesn’t mean they’re selling your souls. It simply means, they hired some bad designers. In fact, Apple has been credited with inventing the smartphone back in 2007, and they’re relying on many of us to continue using the smartphone as well as all of the features, accessories, and services that go along with it.

Which is why Apple actually has a leg up on some of their rivals. They’ve built the idea that its very simple to sign up for, activate your card and pay your balance because it relies on your iPhone – making the card feel as secure as any other Apple device. But that is also Apple’s biggest flaw as well. This idea that the card lives on your phone, makes it very secure, but it also makes it more limiting than other options.

That might be the only flaw though, as it sounds like they’ve thought about everything. Including the fact that Apple also creates three different card numbers for your Apple Card that will work independently of one another. Thus making it more difficult for thieves to use your card should they get ahold of your information. There’s one specific device number for Apple Pay, another number for the physical card, and then a virtual card number that you can use for digital purchases outside of Apple Pay.

Contacting Apple’s support team is also as easy as sending a text message. When you pay your bill, your balance is displayed in a circular graphic that will feel familiar to anyone who has agonized over closing their move, exercise, and stand rings in Apple’s activity app. And the instant you make a transaction with your physical card, you receive a notification on your iPhone by default.

Critics are saying that Apple seems to make the assumption that you’ll always have an iOS device at your disposal in order to manage your account. And while I understand why this question is being raised, but if I have anything with me at all times, it’s my iPhone. If I’m flying or traveling, I might not have service, but isn’t that why there is a physical card as a back-up? I guess what I’m saying is that there might be instances when you can’t use your iPhone, but those numbers are minimal, so I don’t necessarily see it as a major flaw.

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