| Cult of Mac

Even Tim Cook’s Apple Card application got rejected

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Tim Cook has plenty of money, so that couldn't be the reason.
Tim Cook has plenty of money, so that couldn't be the reason.
Image: Canva

Not just anyone qualifies for a new Apple Card — including Apple CEO Tim Cook, according to a new report. The Goldman Sachs underwriting system apparently rejected his application a while back.

Amid reports lately that Goldman is losing money on its deal with Apple, and the two might part ways, it almost sounded like payback. But that’s not it.

Big changes coming to iPhone battery and camera [The CultCast]

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The CultCast Episode 604: An iPhone battery rumor gets us excited.
Longer battery life must be near the top of every iPhone owner's wish list.
Photo: Tyler Lastovich/Unsplash License/Modified by Cult of Mac

This week on Cult of Mac’s podcast: The latest rumors point to impressive iPhone upgrades on the horizon. Stacked batteries might deliver the holy grail of longer battery life as early as this year. And in 2024, the iPhone Pro Max camera might graduate to a mind-blowing 12x zoom. Excuse if we’re a little excited!

Also on The CultCast:

  • A secret project dubbed “Apple GPT” might make Apple’s products better — even Siri!
  • If you’re not taking advantage of Continuity features, you’re doing Apple wrong.
  • Sounds like we’ll be waiting quite a while for a truly pro Mac Pro.
  • How in the world did Goldman Sachs lose so much money on Apple Card?!?

Listen to this week’s episode of The CultCast in the Podcasts app or your favorite podcast app. (Be sure to subscribe and leave us a review if you like it!) Or watch the video live stream, embedded below.

Goldman Sachs wants out of Apple Card after massive losses

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Making Apple Card payments is as simple as its design.
Apple Card hasn’t been profitable for the bank that backs the credit card.
Photo: Apple

Goldman Sachs reportedly wants out of a partnership with Apple that has the bank backing the Apple Card and other financial services. It’s not hard to guess why: recent filings from the bank indicate it has lost at least $1 billion on the deal.

It’s supposedly looking to hand the business off to another megabank.

Apple Card and Apple Pay could soon launch in India

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Apple Card works hand-in-hand with iPhone
Apple wants to bring Apple Card and Apple Pay to India.
Photo: Apple

Apple is reportedly in talks with HDFC Bank to bring Apple Card to India. The latter is among the country’s largest credit card issuers and private banks.

The Cupertino giant also held discussions with NPCI to launch Apple Pay in the country.

Apple Card Savings customers complain about delayed withdrawals

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Some Apple Card Savings account customers are frustrated by withdrawal and transfer delays.
Some Apple Card Savings account customers are frustrated by withdrawal and transfer delays.
Photo: Apple

Apple Card Savings accounts launched to great acclaim recently with their high yield, but some customers are complaining that withdrawing money and transferring funds through the Goldman Sachs-held accounts takes too long.

And some are leaving, according to a new report.

Here comes the MacBook Air we’ve been waiting for [The CultCast]

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15-inch MacBook Air will be a dream machine.
The 15-inch MacBook Air will be a dream machine.
Image: Cult of Mac
WWDC23

This week on Cult of Mac’s podcast: What will WWDC23 bring us? In addition to a sweeping look at the future of all Apple’s platforms, it sounds like we’ll get some major new hardware. Yes, there’s that $3,000 AR/VR headset, but there’s also something we really want: a 15-inch MacBook Air.

Also on The CultCast:

  • The Apple Watch interface will get a major upgrade with watchOS 10. And the same holds true for Stage Manger in iPadOS 17.
  • All about Apple’s new Rapid Security Response system for deploying urgent upgrades.
  • Shockingly, internal strife seems to be one of the things holding back Siri and Apple’s artificial intelligence efforts.

Listen to this week’s episode of The CultCast in the Podcasts app or your favorite podcast app. (Be sure to subscribe and leave us a review if you like it!) Or watch the video live stream, embedded below.

Almost $1 billion pours into Apple Card Savings accounts in first 4 days

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Apple Card Daily Cash can go straight into 'high-yield' savings account
Apple Card Savings got off to a very strong start.
Photo: Apple/Cult of Mac

The high interest rates offered by Apple Card Savings reportedly brought an enormous rush of deposits in the first days after the financial service became available in mid-April. The savings accounts for iPhone users pulled in nearly $1 billion in only the first four days.

And that was weeks ago, so it’s almost certainly well over the billion dollar milestone by now.