Is The Apple Card Good For Travel? Apple Credit Card - YouTube

Apple is creating their own credit card oh so okay some interesting things

about it the card is gonna have no numbers on it no numbers yeah

and so from a privacy standpoint I'm like that's kind of cool. It is okay.

but what if you're phoning in to do something and they read out the numbers

from your card there's no numbers to read how would that work I don't know

that's interesting to find out unless they have like names or letters maybe I don't know yeah

like they showed in the announcement a mock-up of the Apple card and it didn't

seem to have identifier of any kind so that's kind of interesting and

apparently it requires an iPhone okay so you need a okay so that is Apple

all over that's Apple all over so Android users do not apply

yeah Android users do not apply this is this is an Apple exclusive this is strictly for apple thing you might

have a MacBook but if you don't have the iPhone you're SOL as I understand it so that's

kinda interesting they're really narrowing but I mean that's kind of

Apple they're they're often about like exclusivity and stuff like that so

Yea they want to be on their own right so yeah yeah and it's kind of funny because they're like

the in the announcement and this is where it gets really funny if you ask me

they say you know we're not gonna have access to your private information

because that in the modern era that is a concern like who has access if you know

if if Apple has my credit card are they gonna know what I'm purchasing combine

that with everything I do on my phone and my tablet and my and my computer

like that's a whole lot of information that yeah that gets worrying and so they

tried to address that they said don't worry you don't have to trust us we

can't access your information don't trust us trust goldman sachs mmm because

they're operating the card Goldman Sachs are you kidding me after the crash of

2007? I was just going to say did they not have a major crash earlier? And yea. And like you know with the with the subprime mortgage

crisis and the default swaps and all this stuff all the dodgy stuff that

Goldman Sachs was doing the number of times that they've been fined by the

federal government how secure are their servers yeah well and that's

that's an interesting question too but for Apple to say don't trust us trust

Goldman Sachs I would trust Apple and I don't like Apple I would trust Apple

before Goldman Sachs. Absolutely. Personally. Yea. So that is an interesting ploy that they're

making there so some interesting things and as this sort of relates to travel is

if you're looking for a travel credit card one of the things you're gonna need

to look for is currency conversion fees so generally speaking almost all credit

cards in Canada. Yea. They'll charge you an additional 2.9 percent on top of the

currency conversion for charges in foreign currencies and they're not super

transparent about it you will often have it in a supplementary agreement to a

supplementary agreement to your cardholder agreement and that as a

business practice I don't like I don't I don't think that's okay there are some

alternatives out there the home trust visa is what I use for travel and costs

in foreign dollars because there is I've checked there is absolutely no

foreign currency conversion fee and you get 1% cash back on everything so it's

actually really good it's just when when this was all happening that that

card was coming up there's also something called brim which is a master

card that Sam has tried out that he likes that has no currency conversion

fee and there are other ones out there that they give you so much cashback it

kind of counteracts it but I don't like playing that game because again it's

like oh we give you four percent cash back it's like yeah but if you're taking

2.9 percent it's not really four percent I don't like that kind of deceptive

marketing so I like Home Trust, Sam likes brim works well for us but because that this

was kind of being made known around the same time that there was a huge run on

applications for both programs and so people were waiting like six months I

got my home trust Visa in like a month but other people waited like six months. Wow.

I don't know how long the wait period is now but those are sort of the two

options that we have tested out and we recommend to people who travel because

if you're just gonna use your Scotiabank your Royal Bank or whatever card you're

actually going to be paying yeah 3% more on everything that's not in Canadian

dollars so why do it so this Apple card allegedly has no fees

I went digging as deep as I could in the announcement and I couldn't find

currency conversion fee but sometimes those fees aren't really identified as

fees they're kind of built into the currency conversion amount but near as I

can tell Apple says no fees and they're saying 2% cash back on everything so it

might be an option for you if you have an iPhone and you're a traveler you might

want to consider it because 2% cash back from Apple is better than 1% on home

trust visa yeah but check those agreements and every supplementary

agreement that they linked to carefully for that foreign currency conversion fee

if you decide to go the apple card or any credit card if you're looking at