After doing their due diligence investigation into the Apple-GS experience what bank is going to want to be a "partner" with Apple. Is it for a trophy relationship with Apple that allows them to bask in the glow of Tim Apple's halo? Can a bank truly expect a coattail effect of profitability just by having their name associated with Apple in the fawning financial media?
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Apple Ending Apple Card Partnership With Goldman Sachs
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Goldman Sachs has support for Apple Card.?.........um......no....absolutely useless!!!!!
I was hacked 2 months ago and had to close my AppleCard account. I notified them immediately and paid off a rather large balance in full. When I reapplied for a new card (which is the first time I've ever had to do that. Usually a bank will just issue you a new one with a new number)I was declined. The reason they gave was "Unable to verify your identity". I tried a couple more times with the same response before I called GS AppleCard "Support". They could give me no reason for denying my application past the above statement. They suggested trying again. I did, at least 12-15 times and made at least 5 calls to "support" trying to get someone to tell me what part of my identity they could not verify. All I ever got was the same "try again".
Apple should be ashamed to be connected with this useless bank.
I've called Apple as well and they can do nothing about it. Shame on them.Support for Apple's products is second to none. I don't understand why they have let this go on so long. I'm sure I'm not the only person who has had. a dreadful experience with Goldman Sucks.
I was hacked 2 months ago and had to close my AppleCard account. I notified them immediately and paid off a rather large balance in full. When I reapplied for a new card (which is the first time I've ever had to do that. Usually a bank will just issue you a new one with a new number)I was declined. The reason they gave was "Unable to verify your identity". I tried a couple more times with the same response before I called GS AppleCard "Support". They could give me no reason for denying my application past the above statement. They suggested trying again. I did, at least 12-15 times and made at least 5 calls to "support" trying to get someone to tell me what part of my identity they could not verify. All I ever got was the same "try again".
Apple should be ashamed to be connected with this useless bank.
I've called Apple as well and they can do nothing about it. Shame on them.Support for Apple's products is second to none. I don't understand why they have let this go on so long. I'm sure I'm not the only person who has had. a dreadful experience with Goldman Sucks.
I had a pretty horrible experience with Apple Card support. Not like yours, but bad enough. I wasted hours dealing with incompetence on their end. If I had used AMEX instead it would have been no more than a 5 min phone call.
Part of it also that Apple's interface to the card, support and statements is pretty horrible. I only use it for Apple purchases now. AMEX and Amazon VISA for everything else.
You tried 12-15 times to apply for the Apple Card? Did you do this within a 30-day period? Because if you did, of course you're going to get denied, because any of the credit reporting bureaus they use will not have seen any change on your credit report, especially if they do a hard pull. Moreso than that, if you did this 12-15 times over the span of more than 30 days, you're going to have multiple hard pulls on your credit report, which will lower your credit score.
If you were denied because of being hacked or so, you should request the proof of that, report that to all three credit bureaus, then call GS Support and explain the situation. Armed with that proof to present to them, they should have simply reissued a card instead of closing the account. Closing the account is also what messed this up. Now you'll have to go the long way of figuring this out, but some of this could have been handled better to prevent the situation.
Disclaimer: I work with PCI data, especially with hosting databases handling credit card transactions for fraud analysis.
BL.
I'm going to expand a bit more on this, because what just recently happened in relation to me provides context into what should properly be done.
As next-of-kin, I just received a letter from the hospital that reported my father's passing back in 2021. They were notifying me (as next of kin and executor of his estate) that their systems were hacked, in which his PII, PHI, and HIPAA data was compromised.
Side note: Due to HIPAA, the company or facility dealing with such a compromise must disclose the compromise, when their systems were compromised, what data was affected, and what you can do.
With that, If a person was hacked (regardless of what type of data: PHI, HIPAA, PII, or PCI), the institution in question allows you to request you or the affected person's credit report, and review any accounts that need to be closed or pending any collection notices relative to said hack and compromise of data (including any identity theft or fraud. With that, instead of immediately closing any account, especially if Goldman Sachs was involved, you should get those credit reports, dispute any claims on them, report any fraud to the reporting bureaus, Goldman Sachs, and any law enforcement agency. Additionally, you could have frozen your credit until any such issues are resolved, and keep your cards as is. Closing an account does not alleviate or mitigate the use of any fraudulent activity on that card in your name.
With that, I doubt that Goldman Sachs was hacked and such data was compromised, because if it were, with the data of the customers they have, much more would have been made of this, a lot more reporting of such a breach would be covered, and a LOT more letters would have gone out.
To borrow a quote from Mr. Ed, Something rotten is going on in Denmark.
BL.
One would think that...
... until someone posts about an issue 3 days ago that definitely had the means to resolve it, hence my post.
BL.
JPMorgan Chase is talking with Apple about taking over the tech giant’s credit-card program.
-WSJ
-WSJ
This article update on Apple Credit Card today:
stocks.apple.com
Read the full article on Apple News.
JPMorgan in Talks With Apple to Take Over Credit Card From Goldman — The Wall Street Journal
Bank could become the new Apple credit-card issuer, but is seeking concessions from the tech company
Read the full article on Apple News.
You mean the Chase part of JP Morgan Chase?This article update on Apple Credit Card today:
JPMorgan in Talks With Apple to Take Over Credit Card From Goldman — The Wall Street Journal
Bank could become the new Apple credit-card issuer, but is seeking concessions from the tech company
Don't know how this would affect Apple Card holders. I hope I get a new credit card made of plastic instead of titanium, so it doesn't fall out of my wallet every time I open it!
Walmart just ended their capital one relationship. My Walmart card is turning into a capital one card. If Walmart launches a new card, I have to apply for it.
Based on a recent statement that won't balance Goldman-Sachs can't do 3rd grade arithmetic. The error is only $5.99 so I gave up getting it resolved and buried the credit I should have so I can at least balance statements going forward. Good riddance to them. I have the Chase Amazon VISA and it's worked out great for years. Never a billing /statement error, ever. Ditto for AMEX.
But the same can’t be done with Apple Card since it’s managed in Apple’s Wallet app. Unless they simply canceled everyone’s current Apple Cards when the new partner takes over, which is doubtful they’d do.
It depends. If they keep the same PCS provider, there shouldn't be much change, as they should be able to port everyone over; however if the PCS provider changes (Mastercard to VISA), then that introduces a can of worms for everyone who is an Apple Card Holder; possibly even needing to reapply.
Exactly. That is a possibility. That would be a problem because if one's credit rating has dropped since initially getting the Apple Card, that could result in some users not getting their cards back should their credit rating not be good enough for the new provider to issue a new card.
What would also be interesting to see is if there could possibly be some double dipping done. For example, if the Apple Card goes Chase, well... Southwest Airlines, United Airlines, and British Airways all use Chase for their PCS provider.. What are the odds that one could get those benefits all combined onto one card, netting the benefits from Apple Pay, along with the points/benefits from those particular airlines.. If that would work, then I could see this being a huge advantage, as GS isn't affiliated with any other service besides the Apple Card.
BL.
And the other problem would be that they couldn’t do with existing apple cards what Capital One did with the walmart card, i.e., migrate it to one the bank’s own products, because 1. Apple Card is managed in the iphone’s built in wallet app and 2. GS does not have an app of its own to manage its issued cards since they only issue two cards for consumers (Apple Card and another one with GM).
Mileage cards are worthless now that flights are 125% full of paying passengers. Give me the cash back and I'll buy my own ticket, thanks!
“Now that flights are 125% full of paying passengers?” it’s always been like that. Airlines have been overbooking flights for decades, they’ve been doing that for at least 30 years.
I guess I'm showing my age. There was a time when I could actually get a seat on a plane. And you're right, that hasn't been the case for a long time. And overbooking is the cause. My opinion remains the same. Miles are useless. Give me 2% or more cash on every transaction (Fidelity Visa or Discover), and I'll BUY my ticket with the proceeds.
I'm thinking less of the using the accrued miles for flights, but more for the status and access to the lounges! Getting the purchasing power of the AC as well as accruing the status all in the same transaction would be a bonus..
BL.
When Costco switched form AMEX to Citi / Visa, Citi just need new cards to existing card holders and everything including credit line and balances transferred with it. So its possible, its just a question of how nicely everyone wants to play in the sandbox together.
Its possible a Chase branded Apple card could earn UR points like the Sapphire and Freedom cards do. That would be far better imho as it gives more options, including redemption for cash back for those that do not have a Sapphire.
The other issue is Chase is very strict on the 5/24 rule. I also want to say there is a max number of chase cards they will allow you to have but its been ages since I last looked into this stuff and I am not quite certain on that.
If someone already has a lot of Chase cards, this may also put a person over the max credit limit they are willing to extend // probably won't be an issue coming over but it would impact the ability to get other cards in the future.