Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Apple Card Savings Account Available Starting Today With 4.15% Interest Rate

Brad7 said:
Wait why is it any different than AMEX? Can’t you link your credit union account inside Apple Card/Savings settings and then initiate the ACH transfer?
Click to expand...
I have one bank with a checking and savings. I have HYS with AMEX linked them fine in a few days after verifying deposits. after adding my account in the apple savings it said i have to call goldmans. Goldman said to call my credit union and initiate a transfer from them first, the credit union said i cant do that. Why cant Goldman just do what AMEX did ??? this is frustrating already ughhh this is the same bank i have linked to my apple cash BTW
 
Is there a limit on the number of transfers OUT of the Apple savings card? For example, Discover online savings has a limit of five per month, though it's not currently enforced.
 
StoveToastRandy said:
FYI I just figured this out. If you never have verified your identity in your Apple Cash card, you will not see this available. I went to my Apple Cash card settings, and hit the verify identity or whatever it was called and once I completed that I was able to move my current Apple Cash balance to the savings.
Click to expand...
Thank you! This was my issue and once verified, I was able to move my Apple Cash to Savings.
 
  • Like
Reactions: natallica, BigDarrin, Agile55 and 1 other person
bommai said:
I think you are the one mistaken. Using a credit card has saved me a ton of money. Renting a car, my Costco card gives me insurance for free. My Costco card adds 2 more years of warranty to any product purchase with 1+ year manufacturer warranty. I once saved $660 on a dead max book Pro that was 2.5 years old because it was bought with a Costco Visa card. I have already made over $600 in Apple Cash via cash backs. I have paid $0 in interest or fees.
Click to expand...
Honestly, his post was one-sided, but you have to realize the banks are either making money off of you or off of the people you're advertising their product to. Otherwise they wouldn't be making the product. I use credit cards but fully admit I'm not actually saving money in the long run with them.

And before you say "it's the merchants who profit the credit card banks, not the consumers", just stop and think about that for more than 2 seconds.
 
dmx said:
Just applying for the Apple Card won’t affect your credit. If you are approved and accept the offer, there will be a hard pull on your credit, which will affect your credit. However, that is temporary and your score will recover in future months as you make payments on time and avoid applying for any other credit cards/loans.
Click to expand...
Thanks. I guess i need to decide if I really want another credit card, especially if I will only use it sparingly.
 
mnsportsgeek said:
No support for a trust to be a beneficiary will prevent me from using this for anything more than spare Apple Cash.
Click to expand...
Every bank account I've ever tried to setup under our Trust, the bank required the paperwork of the trust to put in their records. This is probably the holdup they are going to have to work out.
 
It's slowly rolling out. If it doesn't work, try again. It's live. Already getting my existing bank setup to auto transfer to it. NICE RATE. Hope it lasts for more than a year.
 
  • Like
Reactions: Brad7
jehrler said:
The extra 2 years on a warranty when using the Costco Credit Card ended at the end of last year (or maybe earlier). It is no longer in effect which is too bad as it was a great benefit.
Click to expand...
Yes, I think it was September when they discontinued that perk.
 
  • Like
Reactions: jehrler
Return Zero said:
You're right, if you're worried about your credit score. I think someone like him would fall under the Dave Ramsey philosophy, who says (in most instances) to screw credit scores. Something like:

- Debt is not a tool to help the consumer to get ahead in life. It is a means of leverage for banks to make money off you and make you dependent on them.
- A credit score is not a tool to help the consumer use money responsibly. It is an individual debt rating method the banks invented to sell you even more debt, and to make sure that debt is profitable.
- You don't truly need a credit score for anything. Mortgages can be underwritten manually, etc. It's a bit more of a hassle but it is possible to get by without one.
- If you truly need more debt to survive (pay for housing, utilities, food), you have bigger problems than your credit score. Plus, you probably qualify for all kinds of assistance programs.

I'm not 100% on board with this line of thinking, but there is a lot of truth to it and I do think it's a good perspective to consider.
Click to expand...

Sure, but not having a credit score or having a bad credit score means you have to pay higher down payments on things and deposits on others where you otherwise wouldn't have to. If you're unestablished or poorly established, you're considered a high risk and treated as so. If your income is low enough for every cent to matter, then having good credit could really help.

Many people have not needed debt to survive and had a great credit score until they lost their job and couldn't find another in the same tier- forcing them to live off their savings and credit they worked to achieve until they found their footing.

If you have a $50k credit line to take advantage of and a credit score to [hopefully] temporarilly wreck, that helps a lot more than food stamps that are somewhere around $200/mo. And low income utility rates are only ~20% off for people who qualify. These programs don't do much for people unless they have extremely low cost of living standards, including having one or more roommate.
 
  • Like
Reactions: gmanjeff, decypher44, TheYayAreaLiving 🎗️ and 1 other person
k1121j said:
I have one bank with a checking and savings. I have HYS with AMEX linked them fine in a few days after verifying deposits. after adding my account in the apple savings it said i have to call goldmans. Goldman said to call my credit union and initiate a transfer from them first, the credit union said i cant do that. Why cant Goldman just do what AMEX did ??? this is frustrating already ughhh this is the same bank i have linked to my apple cash BTW
Click to expand...

So I just got off of the phone with Goldman, and they basically do a three way call. You call Goldman, they call your bank then they merge the calls. You verify with your institution while they are on the line/Goldman will ask questions and you confirm.

I had to do this for two additional banks I added. Took about 20 minutes total including being on hold.
 
  • Like
Reactions: Brad7 and TheYayAreaLiving 🎗️
CaptMarvel said:
So I just got off of the phone with Goldman, and they basically do a three way call. You call Goldman, they call your bank then they merge the calls. You verify with your institution while they are on the line/Goldman will ask questions and you confirm.

I had to do this for two additional banks I added. Took about 20 minutes total including being on hold.
Click to expand...
Thanks that what my bank suggested. Just waiting in Goldman to call me back now.
 
  • Like
Reactions: CaptMarvel and Brad7
Sorinut said:
I currently have four credit cards and haven't paid a dime in interest in over a decade, but I get all the rewards. I pay them off twice per month.

Treat them exactly like a debit card and you wont have an issue.
Click to expand...

Many people don’t realize how beneficial your method of paying the balance twice a month benefits an individual’s FICO Score versus paying the balance in full once per statement.

Making weekly balance payments can dramatically increase a FICO. However that is time intensive.
 
  • Like
Reactions: WarmWinterHat, decypher44, Brad7 and 1 other person
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back