Apple Card and Quicken

Agree it was not best to issue this without the features we all would like, but given the history of Quicken for Mac's reliability, are you surprised?

Forget about Quicken. What about the several financial software packages that you can purchase from the Mac app tore? The Apple Card meshes with NONE of them.

I am thinking that this is mainly a play to iPhone users. The Apple Card integrates well with the Phone. They may not are about us Quicken users.

I see no reason not to hold onto the card (not the real card, just the online one, but I cannot imagine using it except to purchase Apple products, and I will wait to see if they arrange for downloads.

MoreQuestionsThanAnswers25 wrote:

I just assumed Quicken would work with Apple Card. Bummer. I'm not going to be able to use it anymore then, if/until this is resolved. Too much of a pain to track it separately.

Well, it’s not going to work with ANY financial app package. Quicken is irrelevant to the issue. And by the way I subscribe to Quicken and find it vastly superior to those other apps you find in the App Store. They are basically just checkbook registers for those who have no investment portfolios to manage. There are a number of financial websites that do not provide the option to download transactions too, not only Goldman Sachs/Apple. John Hancock, ComputerShare Investor (individual stocks), Cetera Investments are three for me. And not every credit card does either, no matter what financial software you use.

All this rage and snark about the Apple Card being “useless” because of this is funny to me as well as the “Everybody cancel so Apple will bend to our will” comments. I have already set up my Apple Card account in Quicken and will happily enter transactions manually, as well as reconcile manually as I do on a few other accounts that don’t interface with Quicken. Quicken has nothing to do with this.

mickbush wrote:

I’m keeping mine. I’ll use it for all Apple purchases and get the 3%. All electronic purchases and subscriptions and post total to one category on Quicken.

Most will keep theirs also, me included and I’m a Quicken user. Software changes all the time and the ability to adapt to new ways of doing things makes the difference. For those who want things to stay the same forever unless they approve, well, they will always have issues with something.

NeilKo, I agree with you 99.9% But before someone uses this reasoning to completely dismiss your comments...

There may be data out there to quantify the number of credit card holders who use Quicken or similar product and download their financial data into it. However, until I see that data, I'd have to say my anecdotal evidence tells me the "vast majority" of credit and debit card users DON'T track their expenses with 3rd party apps. Again... thats just my experience of my friends, co-worker, and my millennial children.

However... a LOT of people (millions) use Quicken and I suspect most of them use third party apps to download transactions. Those who decide to get an AppleCard will be disappointed. ("Millions" is based on last report in 2016 that Quicken produced $51 million of annual revenue for Intuit before selling the division the following year. With Amazon selling the software ~$35 at the time, that figures they were selling over 1 million copies a year. https://www.computerworld.com/article/3041032/intuit-sells-quicken-to-private-equity-firm-in-management-buyout.html)

So is it the vast majority of AppleCard users? No. Is it possibly hundreds of thousands of AppleCard users? Yes. And Goldman Sachs should be aware of that and doing something to fix it.

Tillamook wrote:

I will quit using the card until transactions and/or statements can be relatively easily downloaded in a form I can import into Quicken

You should cancel the card then. Unused credit can knock your score down a few points.

I just canceled my new Apple Card. I will reapply later if Apple and Goldman Sachs ever come around to the idea of supporting Quicken users. My goto card, Capital One, even had issues with supporting Quicken for a time but they resolved the issues using two-factor identification and who knows what other security measures. One-step update works with them again, that is all that matters to me. There is no way I am adding an account to Quicken with as much necessary data entry as a daily used credit card and not have it supported by one-step update. It is "your data" and you should have access to it in a format that "works for you."

It will be interesting to see how Apple's entry into this financial market plays out. Not allowing easy downloading of transaction data to quicken and other financial applications is consistent with Apples "Closed" architecture strategy. It is yet to be determined if it will be successful in the financial service market. It would appear that Google is going in a different direction and one that is more open then Apple. I intend to try both with small transaction volumes and let the best service win.

IdrisSeabright wrote:

So, having your data more secure doesn't benefit you? I acknowledge it may prevent you from getting something you value more but, to say it doesn't benefit you at all is disingenuous.

Yes, that's correct.

Federal law mandates that the maximum that a cardholder is responsible for in the case of loss, theft or fraud is $50 if the incident is reported to the CC company within sixty days. All cards that I know of, including the Apple Card, waive the $50 fee. Consequently any and all financial loss falls on the CC company. The card-holder has no risk. Exceptional high security does nothing for the card-holder but does protect the CC company from financial loss.

Note: This law does not apply to corporate cards.

The incremental security claimed by Apple is an excuse to try and justify to the market a closed system. Anyone who has worked in the industry with the technology knows that the security used by other providers is more then adequate. Apple could very easily provide a solution to enable downloading to applications like Quicken.... they have chosen not to. For those who have very simple financial needs, Apple is probably adequate..... for those that have more complex financial portfolios it is not.

Basically, all other credit cards allow customers to download transactions into their financial-management software, and those other banks allow the customers to make payments from something other than the iPhone linked to the account.

Many customers are complaining that the Apple Card does not allow any of that, and we are saying these are features that Apple needs to add because we can and will take our business elsewhere.

Please don't defend Apple's choices by saying we don't need those features because YOU don't need them.

Thanks.

Hardly "all that stuff". You get some very basic ability. And as the OP says, it's yet another Silo to manage things. The point of Quicken is to pull ALL you financial transactions into one place and manage things much more completely. Now, I'd have to enter this all into Quicken manually??? That is an extremely strong motivator for me to NOT use my Apple Card as I have been to date. I don't want to have to manually enter every transaction I use it for. That's ridiculous. And Apple providing a basic categorization (not necessarily my own set of categories, and no support for splitting categories when a transaction covers multiple things, etc.) doesn't help with seeing your own "big picture" of financial management. It's nice, and quaint... but not especially useful/practical overall.

Westford user wrote:

Just signing in with the rest of you. If I can't manage it in Quicken (payments DO come from my checking account!), then I can't use it. too bad. It is pretty cool.

But did you tell Apple what you thought?

Product Feedback - Apple

People often post here thinking they are giving feedback to Apple. If that is their intention, it seems only reasonable to let them know the appropriate place.

Also, the two actions are not mutually exclusive. One can tell a vendor why one no longer wishes to use there services AND stop using the service. In fact, I would think doing both is more likely to lead to change.