Tim Cook Touts 'Incredible' Response to Apple Card Savings Account on iPhone

[emulator]

A bank account with no signup bonus yet people still open it. It is indeed really incredible.

 

[ss2cire]

I wish I could even qualify for an Apple Card

 

[H2SO4]

Purchase using the Apple Card. Payoff in full each month. Get cash back. Cash back goes into HYSA to earn 4.15 APY. That’s fairly healthy.

Do you honestly think that's what most are going to do?

Whilst the ease is much to think about saving in a HYSA is something people can do already.
Paying off in full has been a feature since credit cards were invented.

 

[gleepskip]

Do you honestly think that's what most are going to do?

I don't understand why some in this thread fixate on others' financial decisions.

 

[D-a-a-n]

Today is Apple Savings… tomorrow is iLoan for the iCar.

And of course the iCoffin Max Pro at your funeral!

 

[7149041]

"Pay later" is not healthy... it's a fancy way of saying "more debt".

It's bad for most. But if one is sitting on a pile of cash, it's better to invest it somewhere, and make purchases via credit. Especially when it comes to depreciating assets.

 

[PBG4 Dude]

And of course the iCoffin Max Pro at your funeral!

Looks like it’ll be an iCremation Urn mini for me.

 

[PBG4 Dude]

It's bad for most. But if one is sitting on a pile of cash, it's better to invest it somewhere, and make purchases via credit. Especially when it comes to depreciating assets.

You can get 55 days to pay on a credit card if you use it at the right time. Just use it right after your normal statement date.

 

[mattopotamus]

Add enough to the account so the interest pays for a new iPhone each year, no complaints here.

 

[PBG4 Dude]

Add enough to the account so the interest pays for a new iPhone each year, no complaints here.

$50K gets you just over $2K/yr LOL.

 

[H2SO4]

I don't understand why some in this thread fixate on others' financial decisions.

This thread is pretty much wholly about others financial decisions.

 

[mattopotamus]

$50K gets you just over $2K/yr LOL.

Not sure why that is an LOL. That is the point of a savings account, to earn interest on cash you keep on hand. That also doesn't factor in the Daily Cash.

 

[Xavier]

I'm happy to not just have 'Apple Cash' sitting there. This was very easy to set up so no reason not to use it.

 

[teqnik]

Great experience and easy setup. Moved just under the FDIC insured limit to my new Apple Savings account- it was seemless!

 

[PBG4 Dude]

Not sure why that is an LOL. That is the point of a savings account, to earn interest on cash you keep on hand. That also doesn't factor in the Daily Cash.

I found your idea of using interest to pay for your yearly phone funny, hence the LOL. I just calced the $25K amount as a thought exercise.

 

[izzle22]

I don't understand why some in this thread fixate on others' financial decisions.

Because they are financial geniuses that know what's best for everyone. They are giving us all free advise!😂

 

[Camarillo Brillo]

Do you honestly think that's what most are going to do?

Whilst the ease is much to think about saving in a HYSA is something people can do already.
Paying off in full has been a feature since credit cards were invented.

What’s your point? Apple shouldn’t offer the HYSA or 0% interest installments because some people are bad with finances?

 

[Camarillo Brillo]

I found your idea of using interest to pay for your yearly phone funny, hence the LOL. I just calced the $25K amount as a thought exercise.

How is it funny that someone would have enough money in a bank account to make interest that could pay for an iPhone?

 

[gleepskip]

Because they are financial geniuses that know what's best for everyone. They are giving us all free advise!😂

The ideas are certainly welcome. Though. so far none of the suggestions has been more attractive than Apple Card Savings.

My approach to retirement savings is very different; let me share the details. If you don't do it like I do, you're obviously doing it wrong. 😝

 

[izzle22]

The ideas are certainly welcome. Though. so far none of the suggestions has been more attractive than Apple Card Savings.

My approach to retirement savings is very different; let me share the details. If you don't do it like I do, you're obviously doing it wrong. 😝

I agree completely. It's all the "you're stupid for putting your money in a savings account that ONLY gives you 4.15%" comments that are annoying.

 

[_Spinn_]

It was very easy to setup and makes sense to move your Apple Cash over to get the interest.

 

[tonywalker23]

And of course the iCoffin Max Pro at your funeral!

And for a subscription that your heirs can pay, they'll upload your avatar into xrOS. And if you have iCloud legacy account setup, your inheritor can choose to use the data to create a consciousness that you can interact with in the Health app...

someone bookmark this and see how far off I am in 15 years.

 

[PBG4 Dude]

How is it funny that someone would have enough money in a bank account to make interest that could pay for an iPhone?

Is that a real poncho or is that a Sears poncho?

It just hit me as funny. No answer for you but I like your username.

 

[philpalmiero]

Many people trust Apple more than any bank. No comparison. This is going to be huge.

It is still a real US bank behind the scenes. Apple is the just the middle man.

 

[gund1234]

So there are a lot of clueless Apple users out there then? The deposited money goes to Goldman Sachs, it doesn't stay with Apple.

Apple is still on the hook for this money ?
don't care what Apple does with this money.
I don't think any one will call Goldman to get their money back.