> Apple Card was/is Apple's way to promote contactless EMV in the US

Apple Card, with fewer than 7mm users, was launched half a decade after Apple Pay [1][2]. Apple sells over 200mm iPhones a year here. Apple Card was not a way to promote contactless payment, it's a margin play.

[1] https://en.wikipedia.org/wiki/Apple_Pay

[2] https://en.wikipedia.org/wiki/Apple_Card

The physical Apple Card itself doesn’t even support contactless payment, it needs to physically be swiped or inserted.

> physical Apple Card itself doesn’t even support contactless payment, it needs to physically be swiped or inserted

Its sole purpose is to be swiped. It's well made, but I don't think they want people using it.

Yup, this is reinforced by the cash rebates on transactions: 3% contactless at Apple (and participating) stores, 2% contactless at all others, and only 1% using the physical card.

My understanding is that Goldman Sachs has taken something of a bath on this. I have one but it's strictly for the purpose of making Apple gear purchases.

I also use for T-Mobile where I get 3% back and then Apple Pay at 2% is a pretty good cash back scheme. Send that cash straight to the 4% savings account.

I have a 2% back Fidelity card which puts it straight into the brokerage money market (basically government securities) account which is paying around 4%.

Yea there are lots of good options these days. The competition is great. Our financial footprint across organizations is pretty large. I'm looking to Apple to eventually allow stock trading or something similar in the wallet app or stocks app with it all linked up. It's not super Apple-y but I think they'll do it.

What I read was that it only looks that way right now due to the method of accounting used.

As others have pointed out you seem to wrong on every account lol.