Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Well, I should say Costco iWith the Costco Citi, you get 4% in the store and at the pump. I like my Apple Card but that is a better deal.
Nope. You get 4% on gas and EV charging on the first $7,000 and 2% on store purchases (same as AppleCard) but Apple delivers that cash every day, right to one’s Apple Savings account so one earns interest from the day it is earned, unlike the Citibank card that delivers that cash at the end of the year with one’s Executive bonus as a check that one can only cash at CostCo.
 
  • Like
Reactions: rhett7660
Apple Card is a bit different because Apple provides the entire front-end user experience and GS provides the back end systems. Because Apple controls the front end, any transition to a new backing bank should be much more seamless from and end user experience.
Related, I wonder what percentage of Apple Card customers even have a physical card to replace - I had them send me one but have never used it, doping everything through Apple Pay.
 
check that one can only cash at CostCo
Nope. I have had my last two rebates direct deposited into my checking account at the credit union. Even if a check is given, as I have done previously, the check can be deposited like any regular check, because it is a check. However, the electronic deposit is much easier.
 
  • Like
Reactions: CarlJ
Chase won't give me a credit card because of a delinquency some 20 years ago
That type of information should have been taken off your credit report after 7 years, 10 at the latest for some defaults. Unless the delinquency was at Chase then it would be a different scenario.
 
  • Love
Reactions: zapmymac
Used to be MC but changed to Visa the last few years. No other cards accepted in store
The Costco membership at one time was using American Express. Costco changed to VISA in 2016. I don't remember Costco ever using MasterCard as a reward card. Costco used to accept Mastercard as payment but stopped because Mastercard fees became excessive.
 
Last edited:
I had a numerical "x != y" issue in December with my AC Account (who actually trusts the idea of an inexplicable (actual) USD666 Debit in this day-and-age), and held several lengthy phone discussions with CSR reps from both GS, and AAPL.

It consumed a hour from my living.

I was impressed by not just how patient and informative each rep was, but that they communicated and deftly transitioned the conversation between the three of us.

It was my math that was in error, but that ended-up being a personal revelation.

It felt like a 'we' thing, and I shared my appreciation (as best I could).

[egads! Reading-back, this looks like a Chat GP convo, but I swear that this content is bespoke!!]

I'm holding a zero balance, so exactly who maintains the Account really doesn't matter.

Heck, I may never, ever, use it again!
 
  • Like
Reactions: CarlJ
Goldman Sachs CEO David Solomon said that there's "some possibility" the company's Apple Card partnership with Apple could end early, reports Reuters.
Tim Cook is very similar to David Solomon, but very different from Steve Jobs. That's precisely why Apple is now extremely successful in terms of money, but a miserable faliure in terms of innovation.
 
The Costco membership at one time was using American Express. Costco changed to VISA in 2016. I don't remember Costco ever using MasterCard as a reward card. Costco used to accept Mastercard as payment but stopped because Mastercard fees became excessive.
I was a lil hazy on what they used before switching to Visa.
Thanks!
 
Being forced to run on the Mastercard network until 2026 is a big caveat. Mastercard is currently only 25% of the overall card market share versus 61% for Visa:

I don't think it's as bad as you suggest. Visa and Mastercard have agreements in place that whenever one is down, they forward all traffic to the other. So Mastercard must be capable of handling anything that Visa can (and vice versa).

(Further, my understanding is AMEX, Discover, and every other card network also have agreements with Visa that whenever they're down, they can forward their traffic to Visa. So Visa should be capable of handling every card transaction in the world if somehow every network went down except theirs.)
 
Nope. I have had my last two rebates direct deposited into my checking account at the credit union. Even if a check is given, as I have done previously, the check can be deposited like any regular check, because it is a check. However, the electronic deposit is much easier.
Interesting. How does one request to have one’s rebate check deposited with ACH? However, it is still an inferior experience to most other reward cards as it given once a year, rather than daily/monthly/quarterly like most other cards.
 
How does one request to have one’s rebate check deposited with ACH?
There was a link in the email and on the CITI website.
However, it is still an inferior experience to most other reward cards as it given once a year, rather than daily/monthly/quarterly like most other cards.
Perhaps. The rebates are better for gas and travel than some other cards. You don’t have to pick categories for rebates. You don’t have to deal with getting miles. Other cards have advantages and disadvantages. A person has to pick what serves them best. I also chose the Costco VISA for the lack of foreign transaction fees which was not common at the time I got the card. That was a significant benefit due to my foreign travel. Now most cards have that benefit.

There are so many cards with a bewildering array of benefits. I personally don’t like playing musical cards having to decide which to use to get a particular benefit. Besides, the yearly Costco benefit just feels better due to the amount of money. Sort of like getting a big tax refund, which is really bad planning in my opinion.
 
  • Like
Reactions: CarlJ
Good riddance to Goldman Sucks. They are one of the most despicable merchant banks and hopefully will creator. Worse than BoA ML.
 
Banks will happily do business with financially responsible customers. They are not cartoon villains, just amoral profit maximizers.

Apple Card is simply a bad product from any bank's perspective. Either the fees are too low or the rewards are too high (or Apple takes too large share of the revenue) to make it viable with the customer base it has. If you want to make it profitable, you need to increase the fees and/or lower the rewards. But then you get bad publicity and the product becomes less attractive.
Completely agree with this. I'd also say that it's not that Banks won't work with Apple. They just won't accept the Apple Card contract as is. Apple was fortunate when they launched that Goldman Sachs was trying to break into Consumer Banking & was looking to make a splash. They agreed to a lot of terms that any established bank would not agree to. If it had worked out, it would have given them a lot of scale really fast and would have helped them to build out their portfolio. But they decided it wasn't for them, and now Apple has to deal with partners who aren't int eh same situation, so they will have to make some concessions to get someone to take on the card.
 
Working with AMEX would enable a worldwide rollout for Apple Card. It’s too bad that they have their hands tied.
oh no, let’s all hope that Apple never goes near anything Amex. Horrible network to be part of if you spend time with your feet off US soil.
 
  • Disagree
Reactions: ipedro
Is there any possiblity that Apple themselves becomes a banking institution and provides the credit card and savings account themselves? Apple has always been about controlling the whole widget. They also have a large cash hoard.
I honestly wouldn’t mind that. But the feds would probably put a stop to that pretty quickly.
 
  • Like
Reactions: CarlJ
Apple will have contingencies in place to make the transition transparent when they switch institutions.
Yep, but I’d expect that the account numbers will likely changes, for both the credit and savings accounts. So you’d have to update whatever businesses they’re re linked to.
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.