No, it’s because the EU would say that Apple having 100% of the Apple Card market would be anti-competitive. And, while other cards are able to collect fees, Apple’s couldn’t because reasons. 🙂
I'd say that Germany is probably a bit of an outlier, certainly in the EU, as having a culture where credit still has negative association and credit cards are not as widely adopted as many other countries. I regularly travel throughout Europe, and often get caught-out in Germany by places (generally smaller/independent) who don't accept cards.
I doubt it. As with computers and with smartphones, Apple’s happy to concede a significant portion of the market to competitors. It’s not like the card is a profit center for Apple especially since they lack many of the fee structures that make the competition’s cards wildly profitable. It’s merely a convenience for those that enjoy that convenience and for those that don’t, there’s probably thousands of cards for them to choose from.
For me, having customer support 100% through messaging, awesome.
Agree that it would be nice to know. But also, if the change doesn't happen for another two-three years, I'm not sure that it matters much to me at least. I'll keep the $ in my current Apple Savings account for the foreseeable future despite whatever ends up happening when the card shifts to Chase.
Yes, the people at Goldman Sach who agreed to the Apple Card deal really are that stupid, as I've noted before.
The same with Bank of America - on any kind of account. My lawyers say they’ve never seen anything like it.
Yes, the people at Goldman Sach who agreed to the Apple Card deal really are that stupid, as I've noted before.
Why Goldman's consumer ambitions failed, and what it means for CEO David Solomon
As Goldman's Marcus morphed from a side project to a focus for investors, the business expanded and ultimately buckled under the weight of Solomon's ambitions.www.cnbc.com
Besides the deposits business, which has attracted $100 billion so far and essentially prints money for the company, the biggest consumer success has been its rollout of the Apple Card.
What is less well-known is that Goldman won the Apple account in part because it agreed to terms that other, established card issuers wouldn’t. After a veteran of the credit-card industry named Scott Young joined Goldman in 2017, he was flabbergasted at one-sided elements of the Apple deal, according to people with knowledge of the matter.
“Who the f--- agreed to this?” Young exclaimed in a meeting after learning of the details of the deal, according to a person present.
Some of the customer servicing aspects of the deal ultimately added to Goldman’s unexpectedly high costs for the Apple partnership, the people said. Goldman executives were eager to seal the deal with the tech giant, which happened before Solomon became CEO, they added.
What? Apple Store discount alone is worth it. The whole Wallet experience with an Apple Card is more than worth it. But I think the best thing about it is the stellar customer service right through the Messages app. I never knew CC customer service could be this good.
Is this true? Because I applied many times over two years before I was able to raise my score enough to get approved? (For the record I was dealing with a low score in the upper 500s at the time because I spent nearly a decade being the sole caregiver for a parent with advanced Alz and defaulted on two cards; something I never thought would happen. I'm good now.)
500's was even too low for their low requirements. You had to have 650 at least, I think it was, definitely above 600. And it had to be with TransUnion. But you could have checked periodically to see if you would have been approved as your score improved with no ding to your credit score. And sometimes for some people they would offer something called "Path to Apple Card."
