Sources: Goldman Sachs is approving Apple Card applications for some users with low credit scores as Apple wants as many of its customers as possible approved
KEY POINTS — Goldman, which is in charge of deciding who gets the Apple Card, is accepting some applications from users …
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Discussion
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@comfortablysmug
Comfortably Smug
on x
This will end in tears https://twitter.com/...
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@edzitron
Ed Zitron
on x
The headline here of “Goldman Sachs dips into subprime lending” is unbelievable. How do we forget the past so quickly lol they've always done that https://twitter.com/...
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@mgsiegler
M.G. Siegler
on x
What could possibly go wrong? 💳 https://twitter.com/...
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@iankar_
Ian Kar
on x
Fascinating @cnbc article from @Hugh_Son about the Apple Card. Never knew they tested a card in the 90's. Also I'm quoted in it so read it https://www.cnbc.com/...
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@counternotions
Kontra
on x
THEN: Apple's elitist, only targets the premium end of the market NOW: Apple & Goldman are targeting subprime borrowers (Can't win?) https://www.cnbc.com/...
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@harrybr
Harry Brignull
on x
Imagine being broke and your only real source of money is a loan at almost 24% APR. Broke now, broke forever. Real innovation in consumer finance should involve finding ways to stop massively taking advantage of the poor. https://twitter.com/...
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@sruhle
Stephanie Ruhle
on x
Subprime...back again https://twitter.com/...
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@neilcybart
Neil Cybart
on x
Apple's vision with Apple Card is to appeal to all iPhone users not just a segment of the iPhone installed base. Goldman Sachs shared that vision. Accordingly, it's not surprising to see iPhone users w/ lower credit scores being approved for Apple Card. https://www.cnbc.com/...
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@hugh_son
Hugh Son
on x
breaking scoop: @GoldmanSachs, bank to the rich & powerful, is dipping into subprime lending with the Apple Card. Come for the insider intel, stay for the #SteveJobs anecdote. 😲 https://www.cnbc.com/...
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@matthewhughes
Matthew Hughes
on x
One new Apple Card customer, Ed Oswald, said his FICO score is about 620. 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. https://www.cnbc.com/...
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@stevekopack
Steve Kopack
on x
Interesting Steve Jobs story from @Hugh_Son: In the 90s, Apple tested a credit card with Capital One — but it never got broadly rolled out because Steve Jobs “had an aversion” to rejecting any customers who wanted one of his products. https://www.cnbc.com/...