Apple Card Beginning to Show Up on Credit Reports

Nearly four months after rolling out in the United States, the Apple Card is now beginning to appear on credit reports.


Goldman Sachs has confirmed that it is working with credit bureau TransUnion to begin reporting Apple Card information, informing cardholders that they will see full details on their credit report within the next five days. This includes the date the Apple Card account is opened, credit balance, payment status, and more.

In other words, like any other credit card, the way you use your Apple Card can now have an impact on your credit score.

Last month, Apple CEO Tim Cook opined that the Apple Card has been the "most successful launch of a credit card in the United states ever," although that was before allegations surfaced of gender bias during the approval process. Goldman Sachs has since offered to reevaluate credit limits.

To apply for an Apple Card, simply open the Wallet app on an iPhone running iOS 12.4 or later, tap the plus button in the top-right corner, and follow the on-screen steps. The process takes just a few minutes, and if approved, your digital Apple Card will be ready for purchases immediately.


Apple Card offers 3% cashback at a growing number of merchants, including Apple, Nike, Uber, Uber Eats, Walgreens, Duane Reade, and T-Mobile.


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Apple Card Now Offers 3% Cash Back on Nike Purchases via Apple Pay

Apple Card users will now receive 3% Daily Cash when making purchases via Apple Pay at Nike stores, on Nike.com, in the Nike app, and across SNKRS, Nike Training Club, and Nike Running Club, according to TechCrunch.


3% Daily Cash only applies to Nike purchases made with the Apple Card via Apple Pay. The physical Apple Card only offers 1% Daily Cash.

3% Daily Cash was initially limited to purchases made directly with Apple, but partners now include Uber and Uber Eats, Walgreens, Duane Reade, T-Mobile, and Nike. Apple says additional partners will be added over time.

All other purchases made with the ‌Apple Card‌ via ‌Apple Pay‌ will continue to receive 2% Daily Cash.

To apply for an ‌Apple Card‌, simply open the Wallet app on an iPhone running iOS 12.4 or later, tap the plus button in the top-right corner, and follow the on-screen steps. The process takes just a few minutes, and if approved, your digital ‌Apple Card‌ will be ready for purchases immediately.

Daily Cash is unlimited and paid out daily to your Apple Cash account. For more details, make sure to check out our Apple Card guide.

Related Roundup: Apple Pay

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Goldman Sachs Offers to Reevaluate Apple Card Credit Limits After Claims of Gender Bias

Apple banking partner Goldman Sachs has issued another statement regarding allegations made earlier in the week that some credit decisions for Apple Card have been made in a discriminatory manner on the basis of gender.


In a typed statement, an image of which was shared on Twitter on Monday night with the comment "We hear you #AppleCard," Goldman Sachs retail bank CEO Carey Halio said that the bank would take another look at credit lines for customers who expected higher limits.
"We have not and never will make decisions based on factors like gender," Halio said. "In fact, we do not know your gender or marital status during the ‌Apple Card‌ application process."
The CEO added that Goldman Sachs worked with a third-party to review its credit decisioning process "to guard against unintended biases and outcomes."
If you believe that your credit line does not adequately reflect your credit history because you may be in a similar situation, we want to hear from you. Based on additional information that we may request, we will re-evaluate your credit line.
Over the weekend, app developer David Heinemeier Hansson claimed on social media that his ‌‌Apple Card‌‌ credit limit was twenty times that offered to his wife, even though the couple has been married for many years, file joint tax returns, and live in a community property state where all income and assets acquired while married are considered jointly owned.

Apple co-founder Steve Wozniak also reported that his ‌‌Apple Card‌‌ credit limit was ten times that offered to his wife, with the Wozniaks in a similar financial situation where all assets are jointly owned.

In response, the New York State Department of Financial Services announced that it would would examine whether the algorithm used to make the credit limit decisions violates state laws that prohibit discrimination on the basis of sex.

In Goldman Sachs' original response to the controversy, the bank maintained that factors like gender are never used in credit decisions and explained how members of a family could receive very different credit decisions.

Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.


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Regulators Looking Into Claims of Gender Discrimination in Apple Card Credit Decisions, Goldman Sachs Responds

Goldman Sachs and Apple have become involved in a controversy over credit decisions for Apple Card, amid complaints that those decisions appear in some cases to have been made in a discriminatory manner on the basis of gender, reports The New York Times.


The firestorm kicked off late last week when Ruby on Rails creator David Heinemeier Hansson indicated on Twitter that his ‌Apple Card‌ credit limit was twenty times that offered to his wife, even though the couple has been married for many years, file joint tax returns, and live in a community property state where all income and assets acquired while married are considered jointly owned.

Apple co-founder Steve Wozniak also weighed in, reporting that his ‌Apple Card‌ credit limit was ten times that offered to his wife, with the Wozniaks in a similar financial situation where all assets are jointly owned.

In response, New York State Department of Financial Services Superintendent Linda Lacewell has announced that her office will be looking into the situation, and she offered additional information in a Medium post today.
I responded, announcing that the New York State Department of Financial Services (DFS) would examine whether the algorithm used to make these credit limit decisions violates state laws that prohibit discrimination on the basis of sex. For the rest of the day, numerous Twitter users responded to David’s initial tweet, including Apple co-founder Steve Wozniak (who indicated his credit limit is ten times higher than that of his wife), describing similar instances where men received higher credit limits than women. Confounding this is the “black box” problem, in which consumers have little visibility into how a decision is made or why they have been rejected.

New York law prohibits discrimination against protected classes of individuals, which means an algorithm, as with any other method of determining creditworthiness, cannot result in disparate treatment for individuals based on age, creed, race, color, sex, sexual orientation, national origin, or other protected characteristics.
Goldman Sachs today responded to the controversy, maintaining that "factors like gender" are never used in credit decisions and explaining how members of a family could receive very different credit decisions. The statement did not, however, directly address Hansson's situation, which is understandable given financial privacy issues.
With ‌Apple Card‌, your account is individual to you; your credit line is yours and you establish your own direct credit history. Customers do not share a credit line under the account of a family member or another person by getting a supplemental card.

As with any other individual credit card, your application is evaluated independently. We look at an individual's income and an individual's creditworthiness, which includes factors like personal credit scores, how much debt you have, and how that debt has been managed. Based on these factors, it is possible for two family members to receive significantly different credit decisions.

In all cases, we have not and will not make decisions based on factors like gender.
Goldman Sachs also noted that it is "looking to enable" the ability for users to share Apple Cards with other members of their families, although the company did not specify when that might occur.


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Goldman Sachs Issued $10 Billion in Credit Lines for Apple Card

During Apple's earnings call for the fourth fiscal quarter of 2019 this week, Apple CEO Tim Cook said he believed that the Apple Card had the "most successful launch of a credit card in the United states ever," and that Apple was "thrilled" with its reception.

More information on how the ‌Apple Card‌ launch went was shared in Goldman Sachs regulatory filings this week, with key details highlighted by Bloomberg.


From the launch of the card in August to September 30, Goldman Sachs extended credit lines totaling approximately $10 billion to Apple customers. There's no word, though, on how many iPhone users have signed up for an ‌Apple Card‌.

Customers who did get an ‌Apple Card‌ had $736 million in loan balances at the end of September, though it's not clear how that compares to other credit cards as Bloomberg says banks do not break out performance by individual cards.

Goldman Sachs has historically worked with corporations and major investors, but is aiming to reach a mainstream market through ‌Apple Card‌. With the launch of ‌Apple Card‌, Goldman has cut down on unsecured personal loans through its Marcus brand, intentionally slowing that growth while to focus on the Apple-branded offering.

Due to this, nearly all of Goldman's growth came from credit card loans over the course of the last quarter.

Apple has been steadily adding new benefits to ‌Apple Card‌ since its launch to continue to draw new users. ‌Apple Card‌ now offers three percent cash back when using the card for purchases from Uber, Uber Eats, T-Mobile, Walgreens, and Duane Reade, with plans to expand the three percent cash back offering to additional merchants in the future.

At other stores, Apple offers two percent cash back when making an Apple Pay purchase or one percent cash back when making a non-Apple Pay purchase with the physical card or online.

Most recently, Apple announced an upcoming option that will let ‌Apple Card‌ customers purchase a new iPhone and then pay it over 24 months with no interest. It's the same setup as Apple's current device payment plans, but more conveniently integrated into the ‌Apple Card‌ for ‌Apple Card‌ users.


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Apple Card Owners Will be Able to Purchase an iPhone and Pay Over 24 Months With No Interest Starting Later This Year

During today's earnings call for the fourth quarter of 2019, Apple CEO Tim Cook announced a new feature that's coming to Apple Card later this year -- fee free iPhone payments.

Customers will be able to purchase a new iPhone using ‌Apple Card‌ and pay for it over 24 months with no interest. Customers will continue to get three percent cash back for the purchase as well.


There's no specific word on when the iPhone payment plan will be available, but Cook did say that it's coming this year, so it could perhaps be introduced ahead of the holiday season.

Cook said that Apple has been "thrilled" with the reception to ‌Apple Card‌ since its August launch. He said that Apple believes it was the "most successful launch of a credit card in the United States ever."


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Goldman Sachs CEO Calls Apple Card the ‘Most Successful Credit Card Launch Ever’

The Apple Card was "the most successful credit-card launch ever," according to Goldman Sachs CEO David Solomon (via CNBC). The quote came from a Goldman Sachs conference call held earlier today, in which Solomon discussed the bank's new initiatives with its investors.


Apple created the ‌Apple Card‌ in partnership with Goldman Sachs and Mastercard, launching the credit card in August. Solomon stated that since the August launch, the bank has seen a high level of consumer demand for the ‌Apple Card‌.
“In three short years, we have raised $55 billion in deposits on the Marcus platform, generated $5 billion in loans, and built a new credit-card platform and launched ‌Apple Card‌,” Solomon said, adding “which we believe is the most successful credit-card launch ever.”

“Since August, we’ve been pleased to see a high level of consumer demand for the product. From an operational and risk perspective, we’ve handled the inflows smoothly and without comprising our credit underwriting standards.”
iPhone owners can sign up for ‌Apple Card‌ right in the Wallet app on iOS, and once they're approved they can begin using the digital version of the card immediately. ‌Apple Card‌ also comes in a physical titanium credit card to be used at places that don't accept Apple Pay.


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Apple Offers Disaster Relief Program for Apple Card Holders

The Apple Card comes with a Disaster Relief Program, according to a MacRumors reader who lives in Houston and recently experienced some flooding from tropical storm Imelda.

Apple sent MacRumors reader Frequeniquity an email suggesting that he apply for the card after Apple detected that he "may have been affected by a natural disaster."


Emails sent out by Apple, which were also received by another MacRumors reader, offer the following benefits:

  • No interest for two months, starting with the month you enroll. After two months, your standard purchase APR will apply.

  • You can skip the payment due in the month you enroll.

  • If your account is in good standing, you will remain current while enrolled.

  • If your account is past due, your account will not go further delinquent while enrolled. However, your account will remain paste due until you make all of your past due payments and your ability to make new purchases may continue to be restricted.


According to the email sent out to  Apple Card  users, those interested in applying for the Disaster Relief Program should contact an  Apple Card  Specialist after receiving an email.

Apple appears to be sending out these emails to customers who have addresses registered in areas where a natural disaster has occurred, and presumably this will be a benefit offered to all  Apple Card  users who are experiencing issues like floods, fires, earthquakes, and other issues.


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Apple Card Now Provides 3% Daily Cash When Shopping at T-Mobile

iPhone owners will now be able to use their Apple Card in T-Mobile stores and receive three percent Daily Cash as a reward. The news was announced today by T-Mobile, and is timed to coincide with the launch of the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max tomorrow, September 20.


The carrier specifically said that shoppers will be able to use their Apple Card with Apple Pay and get three percent Daily Cash at any T-Mobile store. This makes T-Mobile the only current wireless provider to support three percent Daily Cash on the Apple Card.
“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 John Legere, CEO of T-Mobile. “More options. More value. And cash back, including on Apple’s newest products. It’s just the Un-carrier way.”
As of now, Apple Card supports three percent Daily Cash with Apple itself, Uber, Uber Eats, Walgreens, Duane Reade, and now T-Mobile. Apple announced in August, amid the Apple Card launch, that it would be expanding merchant support for three percent Daily Cash, and it has continued to do so over the past few weeks.

Apple Card offers three Daily Cash reward tiers: one percent for all purchases made with the physical Apple Card, two percent for Apple Card purchases via Apple Pay, and three percent for these select merchants. You can apply for Apple Card in the Wallet app on iPhone.

T-Mobile is also highlighting its current offer where you can trade up and get 50 percent off the iPhone 11 Pro. If you're interested in the iPhone 11, you can also get 50 percent off with a qualifying iPhone trade in. More information on these offers can be found on T-Mobile's website.


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Apple Card Users Will Receive 3% Daily Cash at Walgreens and Duane Reade Pharmacies Starting Tomorrow

Walgreens today announced that, starting Friday, customers will receive 3% Daily Cash when they use the Apple Card with Apple Pay for all eligible health, beauty, personal care, household, and seasonal products they purchase at Walgreens or Duane Reade pharmacy locations, including medicines and prescriptions.


As noted by TechCrunch, the 3% Daily Cash also applies to purchases made in the Walgreens app and on Walgreens.com.

Last month, Apple announced that it would extend 3% Daily Cash to more merchants, and the list now includes Uber and Uber Eats, Walgreens, Duane Reade, and purchases made directly with Apple, including at Apple Stores, Apple.com, the App Store, iTunes, and for subscriptions like Apple Music and iCloud storage.

All other purchases made with the Apple Card via Apple Pay will continue to receive 2% Daily Cash, while purchases made with the physical, titanium Apple Card qualify for 1% Daily Cash anywhere but Apple Stores.

To apply for an Apple Card, simply open the Wallet app on an iPhone running iOS 12.4 or later, tap the plus button in the top-right corner, and follow the on-screen steps. The process takes just a few minutes, and if approved, your digital Apple Card will be ready for purchases immediately.

Daily Cash is unlimited and paid out daily to your Apple Cash account. For more details, make sure to check out our Apple Card guide.


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