For the third year in a row, Apple Card has been named the Best Co-Branded Credit Card for Customer Satisfaction with No Annual Fee in J.D. Power’s study of U.S. credit cards.
The high interest rates offered by Apple Card Savings have now brought in $10 billion in deposits since the service launched in April.
That’s a boon for Goldman Sachs, the bank that holds all that cash and handles the Apple Card, too.
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.
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:
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.
A new Apple Card promotion can get you up to 10% Daily Cash Back on App Store purchases. The promo is only applicable to new customers.
You will also get 10% Daily Cash on transactions on other Apple services, like Apple Music and Apple TV+.
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 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 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.
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:
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.
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.
