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Apple’s Latest Invention: Yes, It’s a Credit Card


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One day, all cards will be Apple Cards, just as all restaurants will be Taco Bell.

The key is to be prepared when your card arrives. You will need a clean pair of cotton gloves and a quality display case.   Before choosing a display case you need to decide whether or not t

Is Rafalovsky also on Reddit?  Because he's certainly not the sharpest tool in the shed.  Of course the Apple Card is just another credit card, Sherlock.       Also, Sperbank sounds an awful lo

On 9/7/2019 at 11:41 PM, MarvBear said:

I don't have to worry,   I don't own an apple product.   Cept, I got one of the first Ipods back in the very early 2000's.  Still got it, pristine, but got no idea how to work it.

 

"On" & "Off" buttons, grandpa.  Bet you use a sundial instead of a watch, no?

 

😂

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23 minutes ago, PotO said:

 

They won't be losing money on me.  But they ain't earning much on me either.  

"In his analysis, which assumes that Goldman spends $350 to acquire each new user,

the bank will begin to break even on a customer after four years."

 

If they spent $350 to acquire me as a user, at the rate I'm using the card, the dinosaurs will have returned to earth before they break even on me.

 

"The tech giant and Goldman might offer a debit card next, the analyst wrote. The bank could do that because customers will likely pay off their Apple Card balances via bank accounts, meaning Goldman will have users’ account and routing numbers stored. Debit cards generated $15 billion in revenues for banks last year."

 

I think this is kind of expected.  Goldman Sachs (Marcus) Bank currently only offers savings accounts.  A checking account should be coming if they're going to be thought of as a full-service bank.

 

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6 hours ago, hegemony said:

I was reading that Goldman Sachs employs tons of tech employees, so its possible that "thousands of engineers" worked on this. Still, $300 million sounds like a lot. They didn't exactly invent the credit card and all that supports credit cards. These thousands of engineers would have been on the payroll whether they were working on this or something else. Still, Apple gets a bargain. Goldman Sachs ends up with all these expenses creating this custom environment and Apple takes credit for it. 

Edited by Burgerwars
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from FT...

 

Quote

Well after having my Apple Card Restricted since 9/30/2019 Goldman Sachs sent me an email on 10/05/2019 saying my account has been closed for "Failure to comply with the terms of the Card Member Agreement or Rewards Agreement" 99% of my charges were MS

 

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