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More Than $10 Billion Deposited in Apple Card Savings Accounts
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They were “loosing money” before the Apple Card so…..O RLY?
Goldman Sachs has lost billions on Apple Card, but it's optimistic
In January, a report indicated that Goldman Sachs had lost over $1 billion through its partnership with Apple for the...9to5mac.com
Apple Card contributes to another $667 million loss for Goldman Sachs: ‘We did not execute well’ - 9to5Mac
Back in January, we learned that Apple Card has been responsible for more than a billion dollars in losses for...
yeah most likely. haven’t seen any posts of other people sharing my same experience, but looks like it’s normal.
Money market funds at major brokerages currently pay slightly better then 5%, have next day withdrawals and typically have over 100 billion in assets. Apple savings account is small potatoes.
They're not taking on a huge risk... They are taking advantage of this historically high rate environment we are currently in... .They are making a killing enticing folks to deposit boat loads of money and turning around and lending it for almost double the rate.
So you’re paying interest in the credit card? If so, that is a terrible deal for you. The savings earns far less than the credit card fees.
I assumed that they meant they were paying the statement balance — all of the preceding month’s charges that hadn’t already been paid or otherwise credited.
Yeah I've been doing some research myself over the last few weeks, and it seems like the way to go.
Anyone here using them?
I pulled everything out and went to Fidelity opened the 2% back rewards card and put my money into SPRXX earning nearly a 1% more. I want longterm stability in my financial institutions and the latest news does not inspire confidence for me.
CIT Bank 5.05%
Platinum Savings | CIT Bank
The more you save, the more you earn. Open a Platinum Savings account. $100 minimum opening deposit. Member FDIC.
www.cit.com
CIT Platinum Savings Review: Why I Chose It | The Motley Fool
Earn a competitive APY with the CIT Platinum Savings account. Maintain a high balance to unlock the best rate, plus enjoy no fees and easy access to your money.
www.fool.com
CIT Bank’s savings account offers 5.05% and Sofi has steadily raised their rate to 4.5%. Anyone with money in an Apple Savings account is losing money.
SPRXX is currently at 5% but the kicker is you can get up to 3% cashback with the Fidelity rewards card if I leave Fidelity ill go back to 2%.CIT Bank 5.05%
Platinum Savings | CIT Bank
The more you save, the more you earn. Open a Platinum Savings account. $100 minimum opening deposit. Member FDIC.www.cit.com
CIT Platinum Savings Review: Why I Chose It | The Motley Fool
Earn a competitive APY with the CIT Platinum Savings account. Maintain a high balance to unlock the best rate, plus enjoy no fees and easy access to your money.
Savings accounts are for morons who want banks to invest their money and keep most of the gains. 4% APY doesn't even keep up with inflation. No thanks, I'll do my own investing and make >10 times that amount.
Yep came across this, too! Both are good options. Cheers!CIT Bank 5.05%
Platinum Savings | CIT Bank
The more you save, the more you earn. Open a Platinum Savings account. $100 minimum opening deposit. Member FDIC.www.cit.com
CIT Platinum Savings Review: Why I Chose It | The Motley Fool
Earn a competitive APY with the CIT Platinum Savings account. Maintain a high balance to unlock the best rate, plus enjoy no fees and easy access to your money.
Hah, will do! I'm tempted by Citi since they have bonuses for opening accounts with decent balances, but... some downsides (no location to go into where I live, no paper checks which I do need occasionally).