Yes, I could have written this post myself. Same thing, word for word. My credit score is 828.
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Apple Card Savings Account Available Starting Today With 4.15% Interest Rate
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Yes, I could have written this post myself. Same thing, word for word. My credit score is 828.
I was just going by what the disclosure agreement said.
I was finally able to open the account and I do see now that you can access it in iPad settings despite what it says.
I was finally able to open the account and I do see now that you can access it in iPad settings despite what it says.
I decided to call again and the rep just told me that they don't add a middle initial or middle name to the card. I don't know if that is true or not. I described my problem and she put me on hold again.
edited to add: I tried to get the bank to remove my middle initial from the account name and they wouldn't. It looks like I am stuck sending and receiving money the hard way with the savings account, unless someone has any good ideas.
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But that’s not what you originally said. You said making two payments a month was better than "paying the balance in full once per statement." That’s what we thought deserved further explanation.Making all your payments on time is the most important factor in credit scores. Second, by making multiple payments, you are likely paying more than the minimum due, which means your balances will decrease faster. Keeping your credit card balances low will result in a low utilization rate, which is good for your score.
My initial point was to simply offer a compliment to a member I felt was implementing a strategy most do not. This has gone too far off the thread topic now.
Simply type your question into a search engine and you will find numerous links.
Have a great day.
There was no option to set up the Savings account on my iPad, so I set it up on my iPhone as the Apple Support article explains. But once it was set up I can access it from my iPad’s Wallet app. [I’ve added this to my previous post, to avoid confusing anyone.]
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“Apple just launched a new savings account (via Goldman Sachs) with a 4.15% yield. That's less than money market funds and 1% lower than the 3-Month Treasury Bill Yield of 5.21%. But most people don't know that, and Apple will see significant demand for this product.”
TheYayAreaLiving 🎗️
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Great question! You have to have an iPhone with Face ID enabled. It also just means you are not allowed to get an Android I guess. 🤦🏻♀️
I’m in the same boat except I never received an email.
Well that sucks. I don't get why it must be through an iPhone, considering that we can log into Apple Card site through a browser. Guess we'll use my wife's iPhone to do initial setup.
Also, I may wait till the dust settles and kinks get worked out. Seems many folks are encountering issues with setup process on their iPhones. Apple may have underestimated demand.
Just opened mine! My previous savings account was only 2.5% so this is a nice jump up!
Didn’t know AMEC and Discover had savings accounts?
Either way none are offered here just north of 49th parallel.
Dear lord I hope nobody is using their savings to make ANY money in mind, but this interest rate in todays economy is phenomenal!
Therein is the key yeah?
Unfortunately like Apple Card, Apple Cash is in Canada well most likely never get the opportunity to partake.
Is this the same as a Marcus account? And if so, can you link an existing Marcus account to the service?
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 fully 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, a process that Apple says can take 1-3 business days to be completed. 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
Hehe, they want to entice even more people to want iPhones. And I’m sure they will add the ability to manage the Savings account online (unless I‘m simply not finding it today) for after it‘s been set up. If someone lost their phone but needed to pay a bill, for example.
I’m thinking there will be a lot of people moving money out of banks for sure, but I don’t think that many people use Apple Card, right?
The account is held at Synchrony Bank, not directly in PayPal, so it is FDIC insured.
It's very sim IMO & yes you can link them as I did mine sev. hours ago so I could xfer some coin from Marcus to the AAPL HYSA.
TheYayAreaLiving 🎗️
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It’s like finding a Speakeasy during Prohibition.
I’ve been so excited for this and it’s exceeding my expectations!!!
I ended up adding the external Apple Savings account to my Chase checking (via the Chase website). That way, I can move money back and forth until and unless support can get my checking account properly linked in the app. They need to manually verify the account.