From AppleWorld Today:
J.D. Power found that awareness is already remarkably high for the Apple Card and many credit card customers are likely to apply when it becomes available – despite the fact that it offers a relatively middle-of-the-road rewards package when compared with other cards.
The Apple Card has not even launched yet, and 38% of U.S. adults are already aware of it. Among those who are aware of the card, 35% say that they are somewhat or very likely to apply for the card. Those numbers are even higher among younger credit card customers. Among 18-29 year-olds, over half (52%) are aware of the Apple Card.
“This is a strong level of awareness, especially for a product that is not yet available to the public and has not been heavily marketed,” says J.D. Power...
J.D. Power says that, despite an incredibly tight credit card marketplace, it looks like the Apple Card will be a hit because of the power of the Apple brand and a history of delivering on a superior user experience.
Thanks for the heads-up to friend-of-the-blog Dave Emery, who writes "that last sentence is significant."
While all this is too small for the stock analysts to see now, it has tremendous growth.
Hint: There hasn’t been in my long memory.
Lastly, while I am a huge Apple fan and an Apple aficionado, it will be extremely difficult for Apple to entice me into using the Apple card for more than purchasing Apple products, which run into the low thousands annually for me. I always used Barclay’s Visa for making Apple purchases so that I could get Apple gift cards.
I have been with AMEX for almost forty years. American Express has a very good benefit package. Additionally, AMEX concierge service has been there for me during periods of “trials & tribulations” when I was robbed in Egypt, lost my money (or pickpocketed) in Ecuador, when no one would take my AMEX travel checks in Viet Nam and when I needed an interpreter to transact business with a bank officer in Yalta. I can’t express how AMEX concierge ladies and men gave me comfort during those stressed periods of ensuring me “… they had my back.”
At this juncture, I do not see Apple operating at AMEX’s concierge level of service and besides, it would be hard for me to preemptively end my AMEX relationship because of the new Apple card.
Far more transactions occur on debit cards than do credit cards. And in Europe (if I understand correctly) users pay a monthly/annual fee to use them.
What happens, with regard to debit cards, if Apple issues one, and it doesn’t have a monthly/annual fee?
I only joined to offset the $$$ that new seat PED had put on his bike…
Jimmy, who will soon have his Apple Card, and yes, nothing beats AMEX concierge service, not even close.
Member, but if Target accepts Apple Pay for online purchases and can come up with free 1-2 day delivery, I’ll be switching my purchases over. And if Shoprunner is in the mix, it ought to help with other online purchases that Target can’t supply.
Another draw for me is the analytics. Users are kept advised of the date by which they need to pay to avoid paying interest. The card tracks spending in a transparent easy to understand way. And the idea of getting a present from Apple at the end of every day in the form of Apple cash tickles me pink. I’m in.