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Apple Card approval for everybody. Steve Jobs didn't want anyone to be rejected.


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 6 months ago '04        #1
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mr_underground|m  topics gone triple plat - Number 1 spot x5
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Apple Card approval for everybody. Steve Jobs didn't want anyone to be rejected.
 

 
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Apple Card approvals levels are unusually high, according to a new report today, with some sub-prime borrowers having their applications accepted.

The report also says that Apple first considered launching its own credit card in the 1990s, but Steve Jobs was concerned about rejecting Apple customers…

CNBC cites both unnamed sources involved in the project, as well as customer reports.

Goldman Sachs is casting a wide net for customers of its new credit card with Apple, approving some subprime borrowers for the product.

The bank, which is in charge of deciding who gets the Apple Card, is accepting some applications from users with less-than-stellar credit scores, according to people with knowledge of the matter. Goldman began to make the card available to some Apple customers this week ahead of a broader rollout later this month.

From the start, Apple wanted its bank partner to create a technology platform that would approve as many of its 100 million-plus US iPhone users as possible, within the bounds of regulations and responsible lending, according to the people. That’s in line with the tech giant’s desire to provide a good user experience for its customers.

The piece says that while there is no official definition of sub-prime, a credit score of less than 670 would typically be one indication. Yet some customers with lower scores are being accepted.

One new Apple Card customer, Ed Oswald, said his FICO score is about 620. The Reading, Pennsylvania-based copywriter said he had been using a subprime card from Merrick Bank.

“I was absolutely shocked I got it,” Oswald said. “I have a lot of collections from two or three years ago when I was in a really rough spot. When I heard it was with Goldman Sachs, I figured they were going for the high-income set.”

Oswald said Goldman is giving him a relatively modest credit limit of $750. He said his interest rate on the Apple Card, at 23.99%, is “a lot lower” than his other cards.

Experian labels a credit score of 800-850 as exceptional, 740-799 as very good, and 670-739 as good. Anything lower would generally make it more difficult to get credit, with many cards declining applications below these levels.

Steve Jobs wanted Apple Card approvals to be 100%
Apple has looked at the possibility of launching its own credit card on at least three occasions. One of those was in 2004, when the company considered an “iTunes credit card,” where cardholders would earn iPoints that could be used to buy music from iTunes. Former Apple creative director Ken Segall says that Steve Jobs was involved in the project, but was unable to agree terms with a partner bank.

Today’s report says that Jobs had previously looked at some kind of Apple Card in the late 1990s, but didn’t like the idea of customers being refused.

When Apple held discussions with Capital One about creating a joint card in the late 1990s, Apple cofounder Steve Jobs “had an aversion” to rejecting any of his customers for the card, according to a former executive of the bank. They tested a card, but didn’t roll it out broadly, this person said.

Concerns have been raised about the risks to both Goldman Sachs and Apple. Goldman is seemingly entering riskier-than-usual credit territory, while Apple risks reputational damage if it is perceived to be encouraging debt, especially to spend on its own products. The app does, however, encourage responsible borrowing and higher-than-minimum repayments by clearly showing the impact of different repayment levels on the interest charged.

visit this link https://9to5mac.com/2019/ .. ard-approvals/
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 6 months ago '16        #2
Papi 
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Not applying for that



they about to trick my people again

And take advantage... don’t apply for that damn credit card
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 6 months ago '07        #3
DIPSET101 
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Extra points for buying the new iPhone with your credit card every year
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 6 months ago '11        #4
Xyrax 
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Its low bottom sh*t. Its already getting around to not bother with getting one. Its not intended to be a high tier high earner card. Just meant to make broke people think it is.

Its not bad business wise, but it can't do sh*t for me. Stick with Platinum Amex or check if Citi still doing their Prestige Cards, although Citi been kinda getting flabby and sick lately honestly....
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 6 months ago '13        #5
THEDONN 
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Where i sign up

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 6 months ago '17        #6
justin747  topics gone triple plat - Number 1 spot x1
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A bunch of dumb MFers about to have under 500 credit scores going broke trying to buy apple products they don't need.
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 6 months ago '04        #7
J.BEEZY 
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 Xyrax said
Its low bottom sh*t. Its already getting around to not bother with getting one. Its not intended to be a high tier high earner card. Just meant to make broke people think it is.

Its not bad business wise, but it can't do sh*t for me. Stick with Platinum Amex or check if Citi still doing their Prestige Cards, although Citi been kinda getting flabby and sick lately honestly....
You're on BX where cards is for broke dusty a*ses anyway.
We all pay cash for everything.
Clothes, cars, birds, houses...everything
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 6 months ago '16        #8
KingJerz  topics gone triple plat - Number 1 spot x1
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No thanks
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 6 months ago '16        #9
Knucklez 
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Oprah wit these apple cards. You get apple card. you get apple card
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 6 months ago '16        #10
Knucklez 
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 Papi said
Not applying for that



they about to trick my people again

And take advantage... don’t apply for that damn credit card
You need that new apple card to go with your airbuds and your iPhone that can't even download music man. Don't resist the temptation you know this card cooler than the others cause it come from apple
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 6 months ago '19        #11
SoulStorm 
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Oh my god. Apple is relentless.
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 6 months ago '12        #12
Cubs Draco 
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Copped and maxing it out first day and not paying it back.
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 6 months ago '18        #13
ICONIC  topics gone triple plat - Number 1 spot x4
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 SoulStorm said
Oh my god. Apple is relentless.
Facts. I got to admit it pretty fu*king smart. Apple has always had the best fu*king marketing team. This sh*t is brilliant honestly. Apple lowkey is a cult luxury brand. People want what they cant afford.
It's a status symbol. And they are about to give more buying power to their customers.
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 6 months ago '09        #14
kickzrme 
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The card actually looks dope...but that's to sucker you in for that 1% cash back...it's 3% when you in the Apple store tho
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 6 months ago '12        #15
gunshot225 
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 J.BEEZY said
You're on BX where cards is for broke dusty a*ses anyway.
We all pay cash for everything.
Clothes, cars, birds, houses...everything
Who tf doesn't pay for their birds with cash?

Straight cash, homie
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 6 months ago '10        #16
umeda 
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Probably have to restore it just in case the transaction don't go through
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 6 months ago '16        #17
JetLife  topics gone triple plat - Number 1 spot x1
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 THEDONN said
Where i sign up

https://www.apple.com/apple-card/

Sign up for the notifications. They are rolling out in batches and your phone needs to be iOS 12.4. Once you get the email to sign up, open your wallet app and the application will be there.

I got approved for a 6k. Interest is through the roof Though. I probably wont use it but I do like the built in expense tracking feature.
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 6 months ago '13        #18
THEDONN 
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 JetLife said
https://www.apple.com/apple-card/

Sign up for the notifications. They are rolling out in batches and your phone needs to be iOS 12.4. Once you get the email to sign up, open your wallet app and the application will be there.

I got approved for a 6k. Interest is through the roof Though. I probably wont use it but I do like the built in expense tracking feature.
I got an android
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 6 months ago '10        #19
ColeWorld  topics gone triple plat - Number 1 spot x1
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Rip Steve Job
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 6 months ago '06        #20
Be Easy 
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my n*gga

everything worth a damn on apple is over a stack

there’s literally nothing I would buy
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 6 months ago '16        #21
JetLife  topics gone triple plat - Number 1 spot x1
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 THEDONN said
I got an android
Oh, no doubt. Im not sure if its going to be available outside of iOS devices. Hopefully it will be.
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 6 months ago '17        #22
justin747  topics gone triple plat - Number 1 spot x1
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 THEDONN said
I got an android
You don't want or need this card anyway. They are about to ruin a bunch of dumb MFers credit scores.

It's almost fascinating how people line up to let Apple take advantage of them. That new MacBook might be the worst laptop of all time with all those keyboard issues, yet people still pay $3K+ for them

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 6 months ago '18        #23
ICONIC  topics gone triple plat - Number 1 spot x4
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 JetLife said
Oh, no doubt. Im not sure if its going to be available outside of iOS devices. Hopefully it will be.
Nah it wont. The whole point is to draw more people into apple and using applepay
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 6 months ago '07        #24
DIPSET101 
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 justin747 said
You don't want or need this card anyway. They are about to ruin a bunch of dumb MFers credit scores.

It's almost fascinating how people line up to let Apple take advantage of them. That new MacBook might be the worst laptop of all time with all those keyboard issues, yet people still pay $3K+ for them

Something broke boys would say




[spoiler - click to view]



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 6 months ago '13        #25
THEDONN 
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 justin747 said
You don't want or need this card anyway. They are about to ruin a bunch of dumb MFers credit scores.

It's almost fascinating how people line up to let Apple take advantage of them. That new MacBook might be the worst laptop of all time with all those keyboard issues, yet people still pay $3K+ for them

I was just gon run it up

fu*k em
+4   



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