Apple launches four-month 'Path to Apple Card' credit coaching program
Apple has launched a new Apple Card program aimed at helping people who have had their applications declined improve their chances at success when reapplying.
Apple has launched a new Apple Card program aimed at helping people who have had their applications declined improve their chances at success when reapplying.
Apple will now share more anonymized data with its financial partner, Goldman Sachs, in hopes of changing how credit is offered to new customers.
In a market research note released Tuesday, Goldman Sachs analyst Rod Hall cut near-term earnings estimates for Apple as the company braces for fallout from the ongoing coronavirus crisis.
Goldman Sachs CEO David Solomon claims the investment bank is happy with both its long-term relationship with Apple that started with the very first overnight bond issued when Steve Jobs returned to the company, all the way up to the current performance of Apple Card.
The investment bank Goldman Sachs has reminded financial analysts that it developed and is making all the decisions about Apple Card.
Senators Elizabeth Warren and Sherrod Brown are amping up their attacks against Apple Card partner Goldman Sachs' alleged gender bias for applicants, pushing the director of the Consumer Financial Protection Bureau to examine the claims for violations of fair lending laws.
Democratic senator and U.S. presidential candidate Elizabeth Warren on Wednesday chided Apple Card financial partner Goldman Sachs over the firm's response to claims that its algorithms introduce a credit limit bias against women.
Responding to claims that a gender bias is instituted when processing Apple Card applications, Apple banking partner Goldman Sachs on Monday said it is prepared to reevaluate credit lines for customers who expected higher limits.
Following accusations that married couples are seeing different credit ratings in their Apple Card applications, bank Goldman Sachs has issued a statement saying all scores are individually calculated.
According to regulatory filings made public this week, Apple Card financial partner Goldman Sachs said it doled out about $10 billion in credit lines for the Apple branded credit card in a little over one month.
A number of Apple Card customers are having problems managing their credit card, with reports of users struggling to make payments to the credit facility through the Wallet app, with the distinct possibility of some users accidentally making multiple payments against their account balance.
Apple's financial partner company Goldman Sachs reports that its first-ever consumer credit card launch — the Apple Card — has been a success, and that here is a "high level" of demand for it.
Despite reports that neither Apple nor Apple Card issuer Goldman Sachs were reporting the usual payment details to credit bureaus, the information is now beginning to be sent.
Following Goldman Sachs predictions claiming that Apple TV+ trials would be reported financially in such a manner that investors would complain and bail out of the stock, Apple has said that it will have no impact on results at all.
Goldman Sachs is spending somewhere in the region of $350 to acquire every new customer of Apple Card, analysts claim, with the investment bank not expected to make a profit on the user until they have been a customer for four years on average.
It's not the best part of owning a credit card, but since we have to pay them off, Apple has made the process remarkably fast and easy for Apple Card payments.
In what appears to be a database problem, Apple is not just sending emails to iCloud accounts saying that the user needs to update with an iCloud email address, but customers outside the US are erroneously being asked to apply as well.
Apple Card is apparently being offered to more than just people with great credit scores, with Goldman Sachs allegedly approving applicants for the co-branded credit card with poor credit scores, in what could be a move to acquire as many customers as quickly as possible.
Apple has increased the number of people who can sign up for Apple Card ahead of its official launch, with more iPhone users now able to apply for the credit card from their devices.
The benchmarking and survey company J.D. Power is predicting that Apple Card will be hit, based on the awareness and interest of US consumers ahead of its launch.
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