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Apple Card Savings Account Available Starting Today With 4.15% Interest Rate
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I would love to be a fly on the wall at Goldman and other banks today and see their reactions to all of the people transferring tens/hundreds of thousands of dollars to Apple lol (which is Goldman, but still).
I have a feeling that is the issue right now. Especially if you already have a card with them. But it did take me a few times to finally get it to go through. I was also denied right out the gate.
I *always* would transfer my funds out of Apple Cash… but now? nope. just going to deposit it right into the savings account and watch it accrue.
and to the people saying “omg there are better banks / savings methods out there!” people know this. it’s not like folks are putting their entire asset portfolio into Apple Savings. 😂
This... 👍
I will always keep $ in several places..Chase Private, Apple Savings as well as Ameritrade
Do you have any evidence to support your claim? I've seen my credit report, as well as descriptions of credit report factors. I've never seen a mention of anything related to paying off your credit card in full more than once a month.Will have to respectfully disagree.
Are you sure you are not confusing APR vs APY?
Tried it, opened it with literally zero issues. Super great.
That's messed up if that is what happened. Even if they have caused the problem by mistake it will still probably take two or three months to clear the error with the credit reference agency. What they should be doing is looking at how many "hard" applications you have made within the last 6 or 12 months (whatever their rules are) for other products, not repeats for the same one. If it is like it is in the UK, even little things like mobile phone contracts can count as hard credit applications, but there is a lot of variation between different agencies and what creditors look at when they do a search. It's can be a minefield.
I only made 1 hard pull on my credit and that was for the Apple Card today. It's odd...I guess the gods are telling me not to apply for the Apple Card for a while...
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exactly. how do the sayings go?
“don’t put all of your eggs into one basket.”
and something about diversifying your portfolio lol.
Possibly just coincidence, but I restarted my phone and then I was good to go.
I tried to move money from my checking (same account I use to pay Apple Card bill) to the new Apple Savings and it wouldn't let me do it because the Apple Card account is missing my middle initial on the account. I got a message saying the name on both accounts have to be the same to do a transfer.
Huh, so this is weird. I tried to sign up for the savings account, and after accepting the agreement it popped up a screen saying it was applying for an account with goldman... and then that screen disappeared and it went back to the wallet. I got an email saying "congratulations, your savings account is open" but it still isn't set up inside the wallet (when I try to select the savings account for daily cash it goes back to setup, and then when I hit continue it says "savings unavailable / apple pay services are currently unavailable).
I see that other people have been getting this apple pay unavailable message when applying for the card/about to get denied for credit, but I've had an apple card since pretty close to when they were released, and I have an 820 credit score, so I'm pretty sure goldman isn't denying my application for a savings account, lol. Has anyone else seen this particular behavior when they already have the card?
I see that other people have been getting this apple pay unavailable message when applying for the card/about to get denied for credit, but I've had an apple card since pretty close to when they were released, and I have an 820 credit score, so I'm pretty sure goldman isn't denying my application for a savings account, lol. Has anyone else seen this particular behavior when they already have the card?
Interestingly the withdrawal from my checking account to the Apple Savings account has already occurred. Be interested to see when it is available for withdrawal from Apple Savings.
Experian says it can help, but only tangentially. It reduces the chance for late payments and, if you carry a balance, it will reduce your balance faster. Standing alone, it doesn’t help at all. Maybe Experian just doesn’t know.
oh hey friend. literally was just posting the same thing at the same time. welcome to the club I guess.
Silly question: let’s say I setup the savings on my iPhone but switch to an Android phone a month later (get rid of iPhone), will I still be able to manage my Apple Savings account online? Or do I have to have an iPhone? I haven’t read much up on this.
I made it through setup an hour and 30 minutes ago, got the email from Apple but it still shows "set up" for me as well.
Error message: "Savings Unavailable. Apple Pay services are currently unavailable. Please try again later." UPDATE: rebooted the iPhone and it worked.
Apple today announced that the long-awaited Apple Card Savings feature is available starting today with an initial APY of 4.15%. The savings account has no fees, no minimum deposits, and no minimum balance requirements.
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The feature allows Apple Card users to open a high-yield savings account from Goldman Sachs in the Wallet app on their iPhone and start earning interest on their Daily Cash balance. Users can also earn interest on personal funds deposited into the savings account through a linked bank account, or from their Apple Cash balance.
To open a savings account in the Wallet app, users will tap on the Apple Card, tap on the circle with three dots at the top of the screen, tap Daily Cash, and select Set Up Savings. Once the account is set up, all Daily Cash received from that point on will be automatically deposited into it and start earning interest. If they prefer, users can choose to have Daily Cash added to their Apple Cash balance instead at any time.
Apple Card Savings allows a maximum balance of $250,000, and balances are insured by the FDIC. To access funds stored in the account, users can transfer money to their Apple Cash balance or to a linked external bank account. There are no fees for withdrawals.
Apple Card Savings requires an iPhone with iOS 16.4 or later and is available to U.S. residents who are 18 years of age or older. Apple has published a support document with additional information about the feature.
Article Link: Apple Card Savings Account Available Starting Today With 4.15% Interest Rate
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Sure, it will help if you carry a balance. But his claim was that it was better than "paying the balance in full once per statement."
I always pay CC on time without interest on the due date. Why would paying twice a month improve your score? My score is over 800. Not sure how it can make much of a difference.
Look again. Major banks have 3.50% and above now, the mentioned smaller banks are at 5.05% and up.