Why ‘sexist’ Apple Card is Cupertino’s worst nightmare

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Sexist Apple Card accusations are tech's latest example of biased algorithms
Apple Card was meant to be the solution, not part of the problem.
Photo: Apple

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.

Woz: Apple should ‘share responsibility’ for sexist Apple Card

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Woz: Apple should ‘share responsibility’ for sexist Apple Card
Some users suggest that a discriminatory algorithm may be determining Apple Card scores.
Photo: Apple

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.”

Buy an iPhone interest-free with Apple Card

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Apple Card with iPhone
Buying an iPhone through an Apple Card just makes sense. And soon it can be done with zero interest.
Photo: Ed Hardy/Cult of Mac

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.

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Earnings call
Get ready for another record breaking quarter.
Photo: Jim Merithew/Cult of Mac

Apple Card isn’t reflected in your credit score… yet

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Apple Card in POS
The Apple Card is still so new it’s not being reported to credit bureaus.
Photo: Ed Hardy/Cult of Mac

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.

Goldman Sachs CEO calls Apple Card ‘most successful credit-card launch ever’

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Woz: Apple should ‘share responsibility’ for sexist Apple Card
Apple Card demand is through the roof.
Photo: Apple

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 expands its reach to more banks across Europe

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ING-Apple-Pay
ING in Germany is finally ready for Apple Pay.
Photo: ING

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 launches disaster relief program for Apple Card users

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apple-card
Apple just added another perk to Apple Card.
Photo: Macrumors

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.

T-Mobile now offers 3% Daily Cash for Apple Card users

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t-mobile
Apple Card has another partner for its Daily Cash offer.
Photo: T-Mobile

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 clashes with its Apple Card partner over TV+

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Apple-backed startup fund loses $8.9 billion in 3 months
Apple and Goldman Sachs disagree over Apple TV+ accounting.
Photo: Pexels

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.