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So the cards will stop working soon?
It’s sounding like that remains to be learned. Based on the article, it’ll be at least another year before Goldman Sachs officially stops backing the card so not anytime “soon”. In that time it’s conceivable Apple could arrange for another creditor to back the card.
So… safe to assume there will be no disruption to Apple Card users besides changes coming to the terms and conditions?
Shit, guess I gotta pay mine off.
has also been looking into the possibility of taking over the credit-card program, some of the people said. "
Well, interest rates are gonna go up. Looks like I’d be canceling my card if it switches to them.
Please do NOT switch to American Express. I travel a lot and AmEx is worthless in South East Asia.
What happens to Apple Card monthly installments if the Apple Card goes away?
They’re going to forgive what you owe, pay back what you paid, let you keep what you bought, and throw in free AirPod Pro’s.
Consumer credit is a shitty business for companies
or Chase
Good consumer banking business from transaction volume, the actual lending of consumer credit is a minuscule % of their business.
VISA, MC etc do very well
They’re payment processors, they don’t issue credit.
Amex has the lowest expectance rate. I’ll probably cancel this card if it goes to them.
Dang. I love my Apple Card and the ease/convenience of the savings account. Hopefully we don’t experience much difficulties during any transitions/changes that will be made.
I’ve stopped using most other cards and use my Apple card exclusively. No international fees, cashback and works everywhere. Been a great experience since day 1
Nothing like being happy about 1% cash back. I wish I was 3 again.
So if i’m making payments towards my phone using my apple card what happens?
Nothing. Just like any other card that switches. Like when Capital One sold the Best Buy card to Citi in 2013, you still make the payments etc. just to the new issuer. Everything transfers.
Is my hysa fucked now?
Worst case scenario is the close it, but you will have PLENTY of time to move it to another one. Most likely scenario is another bank takes it over, and there’s zero you need to do on your part.
Apple pulls plug with Goldman Sachs? I think it was the other way around, Goldman Sachs pulls the plug
GS has a contract until 2029. This report is saying that Apple is letting GS out of their contract and has 12-15 months to transition.
So no more cheesy bread?
I freaking love this card and its perks. My whole Black Friday was paid for by the cash back for using the card for the past two years. Will really suck if they change anything at the end of the contract.
Goldman Sachs is a shitty bank lol
Good, GS is the worst.