True that. I’m earning >5% on savings through several institutions. Depending where one lives, some so-called nationwide banks offer competitive interest without forgoing brick and mortar accessibility.
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Apple Ending Apple Card Partnership With Goldman Sachs
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Discover is still a big player in issuing “1st credit cards” to college students and issuing commercial student loans
Fingers crossed for AMEX. It would enable them to quickly spread Apple Card internationally given AMEX’s established network. Really want this in Canada. 🤞🏼
With cards in Britain getting the Apple Card treatment in the wallet app, I wonder if apple's planning on ditching their own card altogether and pushing credit providers in the US to support the built in interface as well.
"The idea of unconditional 0% financing for computers, phones, laptops, etc is unprecedented, and it would surprise me it were repeated by a new issuer. But it seems to me that feature has helped Apple sales. I think this is probably (mildly) bad news for Apple sales going forward."
false. many companies selling expensive things - cameras, lenses, etc have 0% finanancing and sometimes 24 or 26 months. even cars can have this deal... as long as you have decent credit and large enough down payment.
synchrony is bordline scam company once you read their TOS and interest rates / late fees. well fargo of CC's. I looked at vendor finanacing on an item backed by them and passed as soon as I read their TOS because it was about the worst deal I'd seen. apple won't touch them.
false. many companies selling expensive things - cameras, lenses, etc have 0% finanancing and sometimes 24 or 26 months. even cars can have this deal... as long as you have decent credit and large enough down payment.
synchrony is bordline scam company once you read their TOS and interest rates / late fees. well fargo of CC's. I looked at vendor finanacing on an item backed by them and passed as soon as I read their TOS because it was about the worst deal I'd seen. apple won't touch them.
I'm in the U.S. and all my bank cards – from various institutions – are in Apple Wallet. I've also had work expense account, Health Care FSA, and bank debit cards in the wallet. What is it about the U.S. that is holding back?
It would be pretty embarrassing for Apple if they had to completely scrap the Apple Card, so I assume that won't happen. It also seems like this Synchrony company isn't very good, and maybe Apple wouldn't want to be associated with that.
My vote would be to bring it in house. If anyone can do it, it would be Apple. It makes sense given their ecosystem and their ventures into new areas over the years.
For anyone saying Apple should go back to just making hardware and software, those days are gone. It's clear that Apple will continue expanding when it makes sense. Look at the whole Apple Car situation...hasn't come to fruition yet, but we all know they've been working on it for like 10 years.
My vote would be to bring it in house. If anyone can do it, it would be Apple. It makes sense given their ecosystem and their ventures into new areas over the years.
For anyone saying Apple should go back to just making hardware and software, those days are gone. It's clear that Apple will continue expanding when it makes sense. Look at the whole Apple Car situation...hasn't come to fruition yet, but we all know they've been working on it for like 10 years.
Fingers crossed. 🤞 really hope so.
Apple Working to Bring More Financial Services In-House
Apple Inc. is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter.www.bloomberg.com
Looks like Apple is ready
If the reports are to be believed, GS wanted out because they weren’t making any money out of this partnership. This to me, is more of a damning indictment of the shenanigans that other credit card companies do (like selling your personal data), rather than any failure on Apple’s part.
But instead, I see derision and scorn being poured on Apple for daring to negotiate terms with a credit card provider that are actually in the best interests of the user.
Very weird.
Goldman Sachs has always been a pain to work with for Silicon Valley companies. I’m surprised they held out this long.
No single bank maintains the highest rates because there’s always another bank desperate for deposits. If you’re not talking about tons of money, I’d go with Ally or Discover (would say Marcus but the future there is murky now). If you are talking big money, look into money market accounts at brokerages like Fidelity or Vanguard. Understand these are not FDIC insured.
Nope. 0% interest is offered by Apple through Apple Card. I just bought a 15 that way. No idea what you are seeing.
Apple Pay is completely functional without an Apple Card.
Not going to happen. Apple is contractually obligated to offer Master Card until 2028.
Apple Pay was around long before Apple Card showed up.
They might have to. Synch knows How this product is doing. So if sychn takes it they may not be able to change much but they can absolutely close accounts using their risk profile. But it also means that Apple is in the weakest of all positions right now. all banks knows how poorly the card is doing and its proven that apple wanted the card to go to people who shouldn't have it. The default rate is very high on these cards and higher than pretty much all others it seems likes.
Apple WILL be providing concessions to all other banks, and apple will be PAYING for any bank to take this account. it is LOOSING money as is. no one wants this account fi its loosing money. So apple will be paying up.
Apple either pays up or applies to be a fckn self funded bank.
I hope both products continue and with a reputable provider. Ask for a credit increase soon before the changeover, they no longer care!
Apple's pushing for most customers to be approved did not help nor did their inflexibility on a single billing date.
