William Gallagher
The benchmarking and survey company J.D. Power is predicting that Apple Card will be hit, based on the awareness and interest of US consumers ahead of its launch.
J.D. Power, the company best known for its annual report on consumer satisfaction toward technology products, has conducted a survey into how consumers are reacting to Apple Card. Conducted before the card was available to even a few users, the survey reports that "Apple Card [is] poised to be a hit, despite lagging the industry leaders on rewards."
Of the US consumers surveyed, 38% were aware that Apple Card was coming. Of those who knew about it, 35% told J.D. Power that they were somewhat or very likely to apply for it.
The figures are higher for younger respondents, with 52% of 18-29-year-olds saying they were aware of Apple Card. Separately, 52% of people currently using Apple Pay said that they were likely to apply for Apple Card in the next 12 months.
Those Apple Pay users represented just 11% of all the adults surveyed, though it rises to 20% of all those who use an iPhone.
Nonetheless, J.D. Power notes that this 'remarkably high' awareness and interest comes when, at the time of the survey, Apple Card had not been heavily marketed.
It also notes that this interest comes despite Apple Card falling short compared to other cards which offer, for instance, sign-up bonuses. Since the survey was conducted in July 2019, Apple has begun promoting Apple Card with a series of videos on how to apply and use it.
The card is now available for a very small number of people but will be rolling out to US customers this month. It's also going to expand overseas, but no details have been revealed yet.
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53 Comments
Many of Apple's products stay inside the home or are invisible (computers, services). But the Apple Card is typically carried outside the home and thus can be a carryable status symbol. If I can get one, here in Canada, it will certainly be the front card in my wallet.
The real question is not how many said they would apply for it, it’s how many people actually do apply for it. The number of people expressing intent is always significantly higher than those that follow through, but I assume JD Power has past comparisons. Then again, maybe not. The Apple Card is rather unique in many ways, and I can’t really think of a recent comparison. Banks come out with new cards all the time with some tweak or another and we’re all pretty numb to them by now. In addition to the standard bank cards, pretty much every ’traditional’ company has a credit card - GM, Macys, Delta, etc. The Apple Card looks different, comes from a different and high-profile company and does have some different features.
It will be interesting to see what the true interest turns out to be in a year or so. Hopefully it goes well.
"will BE a hit"
Apple Card is really a non-card. If you want to take advantage of the one feature that anyone really cares about (cash back) then you will use Apple Pay to achieve that goal. The shiny (or matte finish) titanium card is the window dressing for your physical wallet, Apple Pay just got a lot better.