I am getting 4.15% on my PayPal Savings account (same $250K FDIC coverage). No need to get an Apple Card.
Got a tip for us?
Let us know
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
- Thread starter MacRumors
- Start date
- Sort by reaction score
Looks like only the primary holder can see the balance in the Apple savings account. I am the primary holder, and my wife’s phone doesn’t show the new apple savings account.
So glad we have someone to stick up for the poor, defenseless banks and credit card companies against the greedy proles.
Glad to help.
Here is a bank willing to loan ONE HUNDRED THOUSAND DOLLARS, with NO SECURITY WHATSOEVER, for under 10% interest. I mean, come on! That is hardly unreasonable. If anything, they are being REALLY generous here.
We are arguing in agreement.
1. Yes people have to make a conscious decision to open an account at these rates and be responsible with their use of them.
2. Yes, credit card interest rates are too high. And banks don't have to offer ever increasing credit limits to people that have profiled as being unable or unlikely to repay.
Both 1 and 2 can be true.
There is a difference between a $500,000 30-yr mortgage at 6% secured by your house vs a $1,000 line of credit at 36% (or more). No one is trying to equate the two, but if we are talking risk and credit worthiness, I would expect a high-risk cardholder to pay much, much more on a lower limit than someone with a proven credit history that generally uses next to none of their total credit limit.
It is as much on the banks for making the product so easy to consume and difficult for the naive user to exit as it is nat same naive credit user opting into the product and overspending their means.
I'm not sure how much in agreement we are 
I don't believe credit card rates are too high. I think they will be "too high" when we see existing balances drop dramatically, indicating the market isn't willing to bear such high rates.
Personally, I couldn't sleep at night with a $500k mortgage, let alone at 6%. Crikes!!! Mine is about $109K at 2.25% and I don't like it much, but I need a place to live (for now).
No maker of products or services intentionally makes their offerings HARD to consume. Why should banks?
I've been that over-spending silly consumer. They had me for years. I never felt any ill will toward banks, not in the slightest. I just don't understand it.
I don't believe credit card rates are too high. I think they will be "too high" when we see existing balances drop dramatically, indicating the market isn't willing to bear such high rates.
Personally, I couldn't sleep at night with a $500k mortgage, let alone at 6%. Crikes!!! Mine is about $109K at 2.25% and I don't like it much, but I need a place to live (for now).
No maker of products or services intentionally makes their offerings HARD to consume. Why should banks?
I've been that over-spending silly consumer. They had me for years. I never felt any ill will toward banks, not in the slightest. I just don't understand it.
Or use the cards to earn extra cash and pay them off every month! Why throw away “free” money?
I opened my savings account soon as I figured out how to do it. It’s not very intuitive like the Apple Card. It’s like they don’t want to make it obvious.
So I opened my Apple Savings account on Monday as soon as it was available and transferred money From my bank. It’s now Thursday and it’s still not available for withdrawal. It’s showing there but still in progress. Not a big deal as I don’t need to withdraw any but this is one of the reasons I never wanted a savings account outside my regular bank. They did say it would typically be available on the 5th business day. Not sure I like the wording “typically“ and why does it need to take 5 days to become available?
Savings accounts are just that, savings. If you want quick access to your money then put it in the checking account. The whole point of a savings account is you don’t withdraw it. You let it sit. It’s basically for small amounts of money that aren’t really worth investing, but would still like some interest on it.
Oh I know what a savings account is and what it’s for. I‘ve saved for years and I’ve withdrawn from my savings when needed. Savings accounts are to save money for a time when needed. No need for childish explanations. I just like access to my money when I want it. Not 5 business days later. Savings are for emergencies when you need it as well. If I needed my savings within the 5 days for an emergency I’d be screwed. I’ve always had quick access to my savings with my regular bank if needed.
Last edited:
Same here. They are taking forever to fully clear the transaction. I don't plan to withdraw but given it is a savings account I expect it to be available in a timely fashion. I am assuming that it's because it is a brand new account. I would be surprised if future transfers take as long, but plan to test it.
The rate is going to fluctuate up and down, as with all other interest rates. It has to, or banks would go out of business.
Isn't this how they are able to offer higher interest rates? The money has to be locked in for a longer period of time because it will be used for investments, which in turn means that depositors shouldn't just be able to withdraw them as and when they wish.
No, it insures $250K per depositor.
If you have 5 accounts with the same bank, they're not EACH insured for $250K, but $250K total.
Similarly, a single account with 2 (joint) account holders is insured for $500K.
Mine transferred instantly it’s just not available for withdrawal yet. Says it takes 5 business days to become available for withdrawal. Are you sure yours is available? There’s a current balance and an available balance if you look under account details.
No this has nothing to do with it. The money will be available to withdraw as you wish after 5 business days. This is a savings account not an investment or CD that has a time lock on it. That’s my issue with this.
So keep your money in your regular bank earning .01% instead of 4.15%. Pretty simple.
No need of that I was just expressing a concern about the 5 days. Pretty simple. I’m happy with the Apple savings account and the 4.15%. I’ll get over it. I was getting .02% by the way. LOL.
We had over 10 years of ultra low interest rates which encouraged VCs and scammers to try every scam and every pump n dump under the sun to steal money from millions of people and investors.
The result was a small number of people becoming ultra rich and hoarding all the lands and properties for themselves. Everyone else paying rents and subscriptions to these scum.
We should never return to such a scam casino economy again. We should have 4-5% interest saving accounts forever and have sustainable and well distributed growth.
The result was a small number of people becoming ultra rich and hoarding all the lands and properties for themselves. Everyone else paying rents and subscriptions to these scum.
We should never return to such a scam casino economy again. We should have 4-5% interest saving accounts forever and have sustainable and well distributed growth.
Last edited:
This is a joke right? Next you are going to tell me how to make money by borrowing it at a lower rate to invest it somewhere with a higher return...... laughable.