Tag: Apple Card


DOJ calls Apple card fees ‘significant expense’ for banks

March 26, 2024

Via: Banking Dive

The Justice Department lawsuit against Apple suggests banks have been victims of Apple’s antitrust infractions, noting that fees the banks must pay when consumers use credit cards are “a significant new cost.” “Apple has charged issuing banks 15 basis points […]

Activity, Retail Banking

Why is Apple taking a bite out of banking?

May 26, 2023

Via: FinTech Futures

I have followed the company’s trajectory from the earliest Mac models, stood at the front of the queue to get the original iPhone, bought (cough) every one of the watches, bought some AirPods, and happily watch its TV and films. […]

Activity, Retail Banking

Apple’s new savings account sees $1bn in deposits within one week of launch

May 5, 2023

Via: FinTech Futures

The Apple Card savings account, launched in April in partnership with Goldman Sachs, offers US consumers a high-yield annual return of 4.15% – a rate it claims is more than 10 times the national average. Users can set up and […]


Apple Card fees pinch retailers’ profits this Christmas

December 12, 2019

Via: Banking Technology

Because the fees incurred by these elite cards are part of the cost of accepting credit cards, it’s the merchant which has to fork out to cover it rather than the consumer. The reason for the higher fees is down […]

Capital and Risk, Credit, Regulations

Apple Card faces investigation over sexist credit limit claims

November 11, 2019

Via: Finextra

On Friday, David Heinemeier Hansson, a prominent technology entrepreneur, complained to his 355,000 Twitter followers that the Apple Card is “such a fucking sexist program” because its “black box algorithm thinks I deserve 20x the credit limit she [his wife] […]

Retail Banking

What sets the Apple credit card apart? It wasn’t created by a bank, company says

September 10, 2019

Via: Market Watch

It has become obvious that Silicon Valley is going to disrupt the banking business. First, it was the likes of Paypal. Then, Facebook FB, +0.68% with the Libra digital currency. And now it’s Apple AAPL, +0.43% with Apple Card. According […]

Capital and Risk, Credit, Retail Banking

This credit card offers better Apple Pay rewards than the new Apple Card

March 27, 2019

Via: Market Watch

The new Apple Card offers only the second-best Apple Pay rewards program of any credit card on the market. The card, unveiled Monday, offers 2% cash back on everything you spend via Apple Pay. But the U.S. Bank “Altitude Reserve […]