Apple Card Savings Account to Receive First-Ever Interest Rate Decrease

[Zardoz2293]

"4.4% will still be a competitive rate ... 5.25%"

Amazing how dumbed-down the meaning of words have become in my lifetime, "competitive". Sounds like a grade of a "C" claiming to be an "A". Try again.

 

[charlesdayton]

Savings/CD interest rates are based on the FED.

Increases and decreases apply to all banks.

 

[aknabi]

It will be 0.02% soon enough.

Those waiting on the sidelines for the glory days of cheap mortgages to return are hoping you're right...

Still competitive rate... really wondering where Apple wants to go with financial services.. one of the few markets (healthcare, insurance, real estate, auto being the other big ones) where the market size can move the AAPL needle... AR/VR probably won't (would like to be proven wrong)

 

[Cheesehead Dave]

Sucks, but still better than the 0.5% rate my credit union pays out.

 

[3goldens]

Just pulled all my dough and went with AX

 

[Deguello]

Apple’s rate wasn’t high enough to move the needle for me in the first place so this drop, for no apparent reason, simply reenforces my decision to pass. There are better rates available out there. I can’t think of a reason why you’d pick Apple’s offering instead of some other alternative. One quick swipe and a tap and my Daily Cash transfers to a high yield checking account with a rate that blows Apple’s rate out of the water.

Here‘s my reason: I use it only for Daily Cash and for the amount of DC I get the marginal difference between Apple‘s rate and the rate I could get elsewhere isn’t worth a swipe and a tap, let alone reconciling an additional account.

 

[jgleigh]

Sucks, but still better than the 0.5% rate my credit union pays out.

One of my credit unions currently pays 0.05%...why even bother?!?

 

[BellSystem]

Those waiting on the sidelines for the glory days of cheap mortgages to return are hoping you're right...

Still competitive rate... really wondering where Apple wants to go with financial services.. one of the few markets (healthcare, insurance, real estate, auto being the other big ones) where the market size can move the AAPL needle... AR/VR probably won't (would like to be proven wrong)

Apple Finance will be right next to Aperture and Shake.

 

[Mlrollin91]

Just got the notification that my rate dropped to 4.4%.

 

[minik]

Just got the notification that my rate dropped to 4.4%.

Same here.

 

[switz]

Just like coffee or gasoline prices. A frost in South America raises prices immediately covering all the existing inventory on the store shelves. If the event passes, the drop back to the prior price can take an extended time frame. Same with gasoline/diesel etc.

If one does just a tad amount of research, most businesses are making record profits. So the Oval Office has NO control over the very greedy top management who need another 300' yacht so push for more price increases while squeezing their workers more concessions.but they need just one!

They can buy a gold casket, but they need just one!