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Apple Card Savings Account Available Starting Today With 4.15% Interest Rate
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The camel you needn’t worry about, it’s the rich man you should be blending up.
Most people knew these type of savings existed. The convenience and comfort level for a lot of people was lacking. This is where all the financial gurus(insert eye roll) here don’t understand. People didn’t want to remove their savings from the security of their own personal banks.
Don‘t assume people are ignorant to these type of savings and you’re some financial wizard because you did. It’s common knowledge.
You can’t open a new Apple savings account on the iPad, but once a Savings account has been established on it iPhone, you can access the account from your iPad.
Update: Edited for funny typo
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I bet this is an issue with server and service overload. Just give it some time like a few days and all will be back to normal
Those situations you reference do seem odd, and not what you'd expect for sure. I do what you do, too, pay off multiple times during the period, but I have Chase Freedom and USAA cards. Dunno if other cards do it differently. IIRC my old Citi card did what we both expect, too.
This Janky thing is run by Goldman Sachs. I’m 99% sure this is their Marcus Savings account product with an Apple sticker on the front. All the specs are pretty much exactly the same.
Right? It’s free money, why turn it down? If you are spending responsibly and paying off CC purchases each month, this is a nice little add on. Do your monthly spending on your Apple Card, drop the amount you’d usually save plus your monthly spending into the savings account at the beginning of the month so it earns a little interest. Say you spend $2,000/month on your Apple Card. Hold that in the savings account at 4%, earn Daily Cash on your spending. (Mine averages out to 1.75% per month). Wait until the last day of the month to pay off your Apple Card. Between Daily Cash and the interest that’s about $40/mo extra dropping into your savings. Maybe that isn’t a lot, but it’s something.
If you are worried that Apple and Goldman don’t have your back as a client, I can only speak to my own experience:
Last year when my wife’s identity was stolen, our bank, Chase, couldn’t even tell us what was happening at first and needed 21 business days to investigate while basically every major bill we pay was sending us threatening letters, texts and phone calls because every payment from the past 9 months was being reversed back to the bank by Chase.
Apple and Goldman Sachs were freaking amazing. I was assigned a personal account rep from Goldman Sachs who pulled out all the stops, protected our credit, and got us connected to the right people at Chase without sitting on hold for hours and having to re-explain the issue to 20 different people. He even stayed in communication with us after it was clear everything had happened on the Chase side. Because Apple/Goldman used their resources to help when it wasn’t their problem, we recovered all but $1,800 the imposters got away with. Sure, they wanted to make sure they got their money back, but they could have been like everyone else and ignored us except to passive aggressively harass us to make a payment as soon as possible three times every day.
Apple/Goldman earned my loyalty and trust in a way no bank or financial institution with a brick and mortar branch ever has.
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Heh, I just got Siri support on my Apple TV remote with iOS 16.2 at the end of last year and the HomePod just got released in Singapore a couple of weeks ago (got a mini to put in my bedroom and I guess it's nice to stream classical music to?).Anyone feeling like this?
I suspect the challenge with Apple Card is finding a bank in each country willing to accede to Apple's terms.
Is there a set standard on how/when creditors report to the bureaus? I’ve had accounts go nearly 2 months without an update at times and get multiple updates in a single month other times.
For very large purchases it kinda makes sense for it to get reported right away. A temporary dip in credit score or that balance showing up could help stop a case of identity theft in its tracks.
True, but some do care. And btw, a penny is 20% of a nickel, lol.
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For the US, the FCRA has "guidelines" and recommendations:
Federal Register :: Request Access
www.ecfr.gov
Amendments were made via the CARD act of 2009, but it doesn't seem to say "do it this way"':
Soooo the answer is probably "no, but they all kinda sorta do it similar as their buddies... allegedly...supposedly... -ish."
I do wonder how the prosperity gospel people align this with their ideology.
It says in the Savings Account setup screen (and probably MR's video as well) that transfers will take 1-3 days– so it sounds like you might be disappointed there. But then again, this isn't supposed to be a checking account/ATM machine. If you're moving money to/from a savings account that often, you're not using a savings account correctly.
Currency exchange rates don't matter much if you're not buying anything that comes from somewhere else - for the most part.
Well, you don't HAVE to suck. Have you tried quitting?
same question here but in Europe, I would love to have the option here in Germany.... however not even Apple Card here...
I wouldn't be at all surprised that given the EU's propensity for suing Apple for one reason or another, if it just has no interest in bothering offering its co-branded financial services there, due to the feeling of inevitable litigation.
Probably a smart move by Apple.
I can see the silly EU logic going like this:
1). Requiring someone to have an iPhone to get your credit card is evil and illegal.
2). Requiring someone to have your credit card to get your savings account is evil and illegal.
3). So we're going to fine you $20B. Thanks for your support of our or pensions and healthcare! See you again real soon!
Not surprising Apple would just say "screw that!"
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