Some Apple Card users received a surprise APR rate drop this week thanks to the two recent interest rate cuts made by the U.S. Federal Reserve in March. The Apple Card’s base APR decreased by 2% for many Apple Card holders, bringing a little extra credit relief during the COVID-19 pandemic.
Apple updated its privacy policy on Apple Card this week in order to share more data with its card partner Goldman Sachs.
The larger data set is still be anonymized and will reportedly be used to allow Goldman Sachs to create a new credit assignment model so that more people are able to get approval for Apple Card.
Apple Card owners who are impacted by the ongoing COVID-19 pandemic have the option to skip their March payment without incurring interest.
In an email to customers, Apple said it understands that it may be difficult for some to keep up with their payments during the outbreak. The company is “committed to helping you lead a healthier financial life,” it added.
You must be aware, however, that you need to tell Apple if you don’t intend to pay this month.
Transferring your Apple Card statement to a spreadsheet application just became a simple process. No third-party software is required — Apple today added the ability to export your transactions in a format that software like Microsoft Excel and Apple Numbers can easily import.
Don’t expect Apple to go easy on you if you get delinquent on payments to your Apple Card. Because that is not in Apple’s control.
The credit card is underwritten by Goldman Sachs. And the bank made it clear this week that it alone makes the decisions about collections from delinquent cardholders.
Apple Card advertises itself as being just about the most user-friendly credit card in the history of finance. But, surprisingly, it doesn’t let you easily upload your transaction history into a spreadsheet.
Fortunately, New York-based developer Jed Schmidt has created a tool that changes that. And you can start using it right now.
Apple today marked the close of an historic 2019 for its Services businesses following its biggest ever year so far.
The introduction of Apple Arcade, Apple Card, News +, and TV+ helped ensure Services continued to reach new heights. They also mean Apple goes into 2020 with “incredible momentum.”
Some retailers are pushing back against “elite cards” such as Apple Card, a new Bloomberg report claims. These cards’ high-end status means the banks charge higher transaction fees, which offset various rewards programs.
Apple isn’t the only elite card that comes with higher fees for businesses that accept them. The article says a regular Visa card costs $1.27 in swipe fees for a $100 purchase. Meanwhile, a high-end Visa Signature card carries fees of $1.75. These fees are divided between the network, the payment processor and the issuing bank.
Apple Cardholders have a new incentive to upgrade to a new iPhone starting today – 24 months with zero interest.
If any cardholder purchases an iPhone anytime between today and Dec. 31, they will get 6 percent back, rather than the standard 3 percent.
Apple Card customers can enjoy 6% daily cash back on Apple purchases over the holidays.
Apple’s newest promotion arrives just in time for the all-new Mac Pro and Pro Display XDR, which go on sale today. But it applies to any Apple Store purchases — online and in-store — made through December 31.
Apple Card customers can now enjoy 3% daily cash back at Nike.
The deal applies to purchases made through the Nike website, retail stores, Nike Training Club, and more. And all Nike products are eligible.
Democratic presidential candidate Elizabeth Warren has chimed in on the allegedly sexist Apple Card debacle. Warren criticized Apple Card partner Goldman Sachs, saying that if the bank can’t explain how the algorithm used to determine credit score works, it should “pull it down.”
The complaints about Apple Card began last week when entrepreneur David Heinemeier Hansson said he was offered a credit limit 20 times that of his wife. Apple co-founder Steve Wozniak claimed something similar.
Cupertino pitched Apple Card as the greatest credit card in history. Instead, the card generated negative PR based on accusations that the algorithm used to decide credit limits is discriminatory.
Even Apple co-founder Steve Wozniak complained about the supposedly sexist algorithm. Woz said he received 10 times more credit than his wife, despite sharing bank accounts and assets. Here’s how Apple became the latest tech giant to be accused of algorithmic bias — and what that means.
Apple’s co-founder Steve “Woz” Wozniak is one of a number of Apple Card owners concerned about a possible sexist algorithm used for determining credit limits.
On Twitter, Woz said that he received 10x more credit on the card than his wife. “We have no separate bank or credit card accounts or any separate assets,” Wozniak clarified. “Hard to get to a human for a correction though. It’s big tech in 2019.”
Apple Card users can soon use this credit card to buy an iPhone with payments stretching over two years, but without incurring any interest.
It’s already possible to buy an iOS handset through the iPhone Upgrade Program, but this requires a separate loan.
Apple is ready to unveil its last earnings report of 2019 this week, and investors are anxiously waiting to hear some good news on iPhone sales.
All early indications point to sales of the iPhone 11 and iPhone 11 Pro performing even better than expected. But because the new devices were only on sale for the very tail end of the quarter, they might not have given Apple the growth Wall Street is desperate to see.
Apple CEO Tim Cook and CFO Luca Maestri are set to divulge all the details for Apple’s fiscal Q4 2019 earnings on Wednesday, October 30, at 2 p.m. PDT. Per usual, Cult of Mac will be analyzing all the data right when it drops and there are a couple of areas and metrics that are key to keeping Apple’s stock price soaring.
Any late payments made so far to an Apple Card account haven’t hurt your credit rating. Not yet, anyway.
That’s because the bank that’s backing the card, Goldman Sachs, reportedly isn’t giving anyone’s payment history to the three major credit bureaus.
Apple Card is off to smashing start, according to Goldman Sachs CEO David Solomon.
During an earnings call this morning, Solomon updated investors on the status of Apple Card which launched in the US in August. Despite some skeptics worrying about Apple Card’s profitability, Solomon claims Apple Card is “the most successful credit-card launch ever.”
Apple Pay is now supported by a number of new banks across Europe.
Bunq in Austria, ING in Germany, and ABN AMRO in the Netherlands have all adopted Apple’s mobile payments service. Phyre in Bulgaria and two banks in the Czech Republic are also in on the action.
Apple is now offering financial relief to Apple Card users in areas that have been hit by flooding and other natural disasters.
Multiple Apple Card holders have shared an email sent by Apple with an offer to apply for the company’s new disaster relief program after detecting that they may have been affected by a natural disaster.
Apple Card’s reward program, called Daily Cash, has added T-Mobile to its growing list of partners. Starting September 20, all customers will receive 3% Daily Cash when they use Apple Card with Apple Pay at any T-Mobile store.
“We’re all about giving customers the best value in wireless, and we’re doing it again by offering 3% Daily Cash on Apple Card,” said T-Mobile CEO John Legere“More options. More value. And cash back, including on Apple’s newest products. It’s just the Un-carrier way.”
Apple partnered with Goldman Sachs to launch Apple Card. But that doesn’t guarantee that the two entities will always see eye-to-eye.
Late last week, Goldman Sachs cut its price target on Apple shares to $165. That gives it the lowest expectations for Apple of all major Wall Street banks. Following the news, Apple hit back at its partner, arguing that its claims were ill-founded.
Apple Card’s reward program, called Daily Cash, has added Walgreens to its list of partners.
It means that America’s second largest pharmacy store chain now offers 3% Daily Cash to Apple Card customers who use it to pay for goods.
Could an Apple cryptocurrency be coming? While it doesn’t sound like it’s on the immediate horizon, Apple Pay VP Jennifer Bailey recently suggested it’s not totally off the table.
It would fit with Apple’s growing embrace of financial services. The company got into mobile payments with Apple Pay in 2014 and released the Apple Card this year. Now, Cupertino appears to be taking a wait-and-see approach on cryptocurrencies.
Do you want to be the kind of know-it-all who takes the wind out of fanboys’ sails by telling them their fancy new titanium Apple Card isn’t actually 100% titanium?
No? Then you should probably ignore a new article from Bloomberg BusinessWeek. The publication used a scanning electron microscope to work out the Apple Card’s composition because the internet’s run out of things to do.