I wasn't talking about the need to have an Apple Card, I meant that the Savings isn't a separate card within in the Wallet app.
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Apple Card Savings Account Available Starting Today With 4.15% Interest Rate
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I rebooted my iPhone and now I'm back to the "temporarily unavailable" message.
Update: the savings account suddenly appeared. But when I tapped on “Apple Cash” I got the unavailable message. It must be overloaded servers.
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It looks like MacRumors has broken Apple Pay services. Thanks a lot guys and gals. 🤣
🤣If Apple extends this internationally, the interest rate will be linked to the each country’s central bank rate. This would be higher or lower then what US savers get. They would also create a partnership with a local bank.
If your score bounces 30 points with one "big charge", you might want to work on your total credit limit. That kind of jump just does doesn't happen with a decent credit limit.
What type of savings account do you have? I also bank with Capitol One but my savings rate is only 3%.
I haven’t seen this many comments on an article in a WHILE on here lol.
good stuff.
good stuff.
Went live for me at 13:30 PST.. took all of 90 seconds to setup, activate and transfer six figures.. I’m going to test how fast money moves back and forth after this initial high yield period.. this probably won’t last past June.
Only in that it will affect your Used Credit%. Assuming you spend $2,000 per month and pay in full every month:
You spend $2,000 a month and pay it off once a month the balance reported to the credit bureaus is anywhere from $0 (as soon as paid off) to $2,000 (statement balance). Or it could be any value in between depending on the balance on the date reported.
Paying that $2,000 weekly means the used credit % for that account will never be based on a balance of more than $500.
But, as you said, with a credit score over 800 it really doesn't matter. Would make a difference if you were in the 725-range and looking to improve.
I rebooted my iPhone and now I'm back to the "temporarily unavailable" message.
i bet the servers are overloaded. I applied and got mine in the early afternoon. It was very quick. My husband just tried applying for it now (evening) and got the same error message.
I’m guessing this isn’t fully up to Apple. It’ll be in part up to Goldman Sachs and the country regulators?
The banking system in Canada is highly regulated - so banks can't pull crap like they do here is the US. ALA Silicon Valley Bank Collapse 2023 and Bear Stearns (among others ) in 2008. Plus the credit card rules in Canada is more strict as well - it made US companies like MBNA (a US Company) sell off it's credit cards to TD Canada Trust.
Oh. Yeah. The banks in the US are not "highly regulated" at all. It's a total free for all.
Highly doubt it’s locked in. I’ve had 2 changes this year already with my CIT account. They would be foolish to lock it in when the markets fluctuate a lot.
Here today, very possibly gone tomorrow. It's a teaser rate, and not uncommon in the industry. You are better off buying a CD or T Blls and locking in your rate for whatever period of time you want. Don't want to lock everything in at one rate? You can ladder them as well. A month or two up to thirty years. In addition, T Bill interest is exempt from state and local taxes.
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