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Home / Business / The benefits of Apple Card may be average – but security is the benefit

The benefits of Apple Card may be average – but security is the benefit



Whether the benefits of the Apple Card justify the hype has been a hotly debated topic ever since the card was launched. Never before has a mainstream credit card attracted so much media attention and generated so much discussion.

There are those who have been just as excited about receiving the card as you would expect them to be about a new iPhone or Mac. And there are others who say that the Apple card is really nothing special …

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For example, if you travel a lot and spend a lot using a card, The Points Guy expects the Amex Platinum card to be the best total value, despite a hefty $ 1 annual fee 550.

Many factors contribute to the overall value of the card; It's not just the 60,000 bonus that lands it near the top of this list. But even apart from the $ 200 annual fee for airfare, $ 200 in Uber credits awarded each year, the recently added $ 100 Saks Fifth Avenue credit and the various lounge access options, Amex Platinum is a fantastic premium card which can pave the way for some amazing price flights and other redemptions. Among the Rewards program's 20 travel partners are Singapore Airlines KrisFlyer, the only option if you want to book ultra-premium Singapore Suites by miles. Other highlights include a fantastic 5 points per dollar on airfare (equivalent to 10% return on these purchases), free Hilton Honors Gold and the ability to add three authorized users for a total of $ 175.

If you qualify for the opening bonus and can take advantage of all the credits, you can easily earn hundreds of dollars the first year – even before you consider the points you earned on flights.

At the other end of the scale, if you have a balance on your card, you will always be better off forgetting the benefits and aiming for a no-frills card with the lowest possible April.

The general consensus among economic types is that the benefits of the Apple Card are decent for a fee-free card, but unusual – and you can do it elsewhere.

But in my opinion, there is one advantage with the Apple Card that trumps everyone else: the hype behind the card means that more than ever is aware of the security benefits of Apple P ay.

The Apple card itself only provides a security advantage over other cards: there is no visible number or other data on the physical card.

However, for both security and repayment reasons, it is better to use Apple Pay whenever possible. And it is Apple's marketing of this that takes the message to non-technologies.

When you first get your Apple card, a unique device number is created on your iPhone. Then it is locked into the Secure Element.

Each purchase requires your device number along with a one-time, dynamic security code that the iPhone generates when you authorize the purchase.

And how do you authorize a purchase? No problem, Face ID or Touch ID – two of the most advanced security technologies in the industry. So even if someone else gets hold of your iPhone, it can't be used to buy anything.

Exactly the same is the case with any card used with Apple Pay – there is nothing special here with the virtual version of the Apple card – but because people notice the hype around the card, many will be aware of this benefit for the first time. And that is a real gain in a time when card data breaches are commonplace. (The latest, touching 5.3M card, came out just this week.)

So whether people get an Apple card or not, many people are for the first time aware of the biggest reason to use Apple Pay. And it's not practical – good, but it's for Apple Watch owners – it's security. Never pass on your card information to a seller.

So many people are learning about this for the first time, to me, is the real benefit of the Apple card.

  Jamf

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