Apple Card Turns Six With Big Change Ahead

[AAPLbuyback]

I love my Apple Card and I love the high yield savings. I stopped buying CDs at my bank and dumped all my savings into it. would suck to lose that.

The fact you were buying CDs is the real shame.

And the 3.65% (and better) can be had in many ways without the need for the card.

 

[AAPLbuyback]

Never use the card other than for Apple purchases. Far better cards for every other purchase.

I only see the card getting worse by going with Chase. Reality is that it's losing GS over $1 billion every year. For any other company to take that on and make it profitable, they're going to have to do a number of things:

• Cut the cash back.
• Cut the percentage Apple takes.
• Cut anyone below a 700 credit score (they're losing money on the card because so many are defaulting on their payments, cutting those less likely to repay is a huge way to stem the losses).
• Slash additional benefits like partner bonus cash back.

Apple really hasn't done anything with the card since it was released. They added Apple Savings and that's about it. It's really not an attractive card for anything but Apple purchases and even then it's not that great.

You can make a lot of money off people with lower credit scores.

 

[russell_314]

I am well aware of the hurdles. But none of these are new. And Apple should clearly have a roadmap on this. Instead they went with Goldman Sachs, a company which has zero consumer banking experience.

The deal wasn't bad for Apple. They made money out of it. And possibly some experience. But it is bad for most of its user. They wasted time on something which they know full well wont be available to vast majority of its user world wide.

Even with GS it’s possible Apple could have issued the Apple Card in other countries with a different bank. I guess unless GS had some worldwide exclusive contract

 

[Rafagon]

We should have an Apple Card subforum somewhere. Would be cool.

In any case, does anyone know how to link one's Apple Card (and the Savings Account) to an app or platform such as NerdWallet via Plaid? It's easier to explain with a screenshot. I'm referring to this screen. I don't see Goldman Sachs listed. There has to be a way.