Card Could Change Forever...
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- Опубликовано: 12 сен 2024
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Amex isn’t accepted at nearly as many retailers as Mastercard and visa which is my concern.
@@ramp6727 it’s not common. It’s a 5-10% chance. But that means it still happens and it means I’d still need to have another credit card for those times
Amex costs retailers more to accept then Mastercard and Visa. Hence many smaller shops and vendors don't accept them, especially outside the US. Although it is better now then in the past, at least from personal experience.
@@ramp6727 Same here even though I do carry one of each issuer network in my wallet. Its just overseas it can be tricky with Amex and even Discover.
@@Hdu3u3he83be I agree, but even then, its good to have one of each card network in your wallet setup. That's what I did.
@@ramp6727in Canada, unless the business is American owned, Canadian based shops/small businesses don’t accept Amex.
The reason Amex might work better as a partner is Amex also runs the back end payment processor so that’s a whole other set of fees eliminated where as Goldman Sachs has the fees with Mastercard for stuff such as branding and payment processing and Amex is already used to a more affluent customer base that pay off their cards each month so they may have better profit maximizing methods.
The idea of having proper reward credit cards in the UK is mad… I get 1% cash back on my Amex but literally 99% of people I know don’t use a credit card at all because in the UK we’re so misinformed about them
Bummer: Goldman isn’t able to hit users with predatory consumer fees???
Doesn’t that prove that Goldman (and other banks) have been profiting off consumers for too long????
Did you not know that companies make profit off their consumers?
@@dat_lou5561Usury ain't cool
@@dat_lou5561 But predatory tactics against your clients, shouldn’t be “the norm”
@@POVwithRC Issuing credit cards only makes no sense if some people do not pay their balance in full every month, otherwise the banks would be lending money in a monthly basis at 0%. No bank can do that long term. Thus, one must be charged interest from beginning, a fixed monthly fee, or what we have right now where irresponsible adults help to finance the spending of responsible adults.
@@tetchuma definitely not. Guess I'm not too familiar with these banks' predatory tactics
Interesting. I live in the UK. As soon as they hear my American accent a lot of places here in London are quick to tell me they don’t accept American Express. Don’t even have one but they assume I do😑
With the growing anti-American sentiment around the world I see Apple Card switching to AMEX as a problem.
Have been using the Apple Card since the launch but my biggest criticism is the cash back is only 1% when using the physical card. Apple should offer 2% cash when using the Apple Wallet or the physical card. Glad to hear Amex might potentially acquire the card. Hope to see a "Pro" card that offers travel benefits. The "Pro" card could be similar to the Chase Sapphire Preferred card with a $95 annual fee.
They wouldn't make the physical card have 2% cash back since they want people to use apple pay and apple wallet
@@quantumxp That's true but some businesses still require a physical card
@@stevenwoo2881the goal Apple wants is for more customers to demand Apple Pay so those locations start letting you use Apple Pay, because Apple gets a small cut on all Apple Pay transactions regardless of card issuer so Apple wants everywhere to take Apple Pay so by strong arming their loyal Apple Card customers into demanding rather than wanting Apple Pay they can get more locations
in hungary you can pay with amex, only in taxis. Basically no retailer accepts it
The loss isn't from people not carrying debt for Goldman Sachs to charge interest. It is from the provision for defaults. The Apple Card had more lenient lending requirements to obtain than a lot of other credits cards. So the problem isn't that there is not enough interest income, but there are too many defaults.
Goldman Sachs is not losing money because "the Apple Card is too good" at helping consumers pay their bills. It's actually the opposite. According to Bloomberg, Goldman's "losses" are stemming from having to set aside a large sum of money to cover credit loan defaults.
Apple Card users trend younger, and because of the ease of signing up, its many peoples' first credit card. These customers are racking up charges, not knowing how credit cards work, and then walking away, leaving Goldman holding the bag.
Why this might work better for Amex is because unlike Goldman, Amex collects the swipe fees from customers using the card (physical or digital). They'd probably also tighten up the credit score requirements to qualify.
I don't understand why Tailosive Tech is ignoring this fact and constantly go on about how the card makes people too responsible.
Reason they dropping it is because too many people got approve below 660 credit score and has since defaulted their account. It's not because they're not making money via interest, its lots of people using the card and not paying it back. hence , they are losing billions
Source?
It’s gonna be interesting tbh. Apple is going to need to have a direct relationship with American Express for this to work, as opposed to the banking sponsorship model they had with Goldman/Mastercard since AMEX owns the payment processing and is a card issuer. I’d imagine they’d have to re-work the risk model too since Amex targets affluent customers, and Apple Card targets average consumers.
That’s a big misconception when it comes to AMEX.
Their cards are actually a lot easier to get than Chase, US Bank & some comparable high end offerings.
Yes, they benefit if a different way when it comes to their charge cards and they appreciate large purchases on them.
But their charge cards are not thag exclusive.
Not Amex, a lot of places don’t take it. Especially overseas.
Whatever bank ends up taking over the Apple Card, I want them to build Apple Tag technology into to the physical card so I can effortlessly track my minimalist wallet. I’d pay extra for that.
That’s crazy
Impossible you’d have to make the card thicker. Then it won’t fit into the machines
As some who travels to Europe, Apple switching to Amex isn't something I like the sound of, far fewer merchants allow Amex. The benefit of a Visa or MC is they are practically universally accepted.
I’m not so sure about an Apple Card tier with annual fees. First off, Amex isn’t accepted everywhere; I doubt Apple will allow its card to be crippled in this way. Second, it would make more sense for Apple to offer a higher tier through one of its subscriptions. For instance, offering the current level of rewards if you have the premier tier of Apple One, and then discontinuing most rewards for everyone else. That’s how the Amazon Prime Visa card works! I just don’t see Apple charging or letting Amex charge an annual fee just for the card itself. Subscription fatigue is indeed a thing.
As now Apple competes directly with banks it’s going to be interesting if they have to unlock the Secure Enclave to allow banks to innovate with other types of payments and EFT-POS
Welp I was planning to get an apple card later this year but if they change to Amex it’s gonna be a no-no for me. I’m always out of the country and nobody accepts Amex
The losses Goldman faced was due to charge offs. Amex will have a better algorithm in approving or denying applications. I have both cards and of course the Amex card is 10 times better than the Apple Card, but each one has its use.
which Amex card do you have ?
@@1nner.w0rld platinum charge card.
I would love if Apple Cash could get a debit card, or at least direct deposit. I like having a secondary spending account and wish I could put part of my paycheck towards that directly instead of transferring. A colorful plastic card with no ATM fees would be a strong alternative to Cashapp or Venmo Card.
just get a traditional checking account at the bank most of them are free
It's all digital anyways. They could probably just add your debit card to the physical Apple credit card. Then you can either choose at the register or change the default via the app. Apple if you see this, I have plenty more where that came from!
Apple Cash card in the wallet acts like a debit card actually
I personally am not a fan of this transition because not only is American Express not accepted at as many retailers as Mastercard, but American Express also offers terrible customer service when they freeze their users’ bank accounts.
I kept trying to wipe that red dot off my screen, even though I KNEW it was attached to the window behind you.
I think the apple cards is not really "too good of a deal" it is because Apple wants people with way to low of credit to be accepted and Apple wanted them to be accepted regardless and then these people never pay off their balance then go into collections. Also the Apple savings account is the exact same as Marcus which is also by Goldman Sachs
Yeah the Apple Card is the only Apple product that isn’t targeting people with money burning a hole in their pocket, because the point of the card is to buy Apple products they otherwise might not be able to afford.
I have Apple Card and Apple Savings.
Apple Savings needs remote (check) deposit.
They also need to add a ATM feature to Apple Card.
It’s easy to put money in.
How do I get it out?
Wire transfer
@@TailosiveTech
I think they need ATM and check mobile deposit.
People are starting to complain that accessing money takes too long
I love how Apple gives you a notification of INTEREST EARNED.
Very cool!
Amex charges retailers higher fees than Mastercard, and don’t have to share those fees with a bank like Goldman Sachs, so they can afford higher rewards and have a business plan where people pretty much always pay off in full every month.
However, their foreign currency fees are higher than Mastercard, and they have a less favourable exchange rate.
I use my Amex for British Pounds transactions where possible, and either Mastercard (Santander Zero, no longer available to new customers, Halifax Clarity offers the same deal) or Revolut (multi-currency bank account, also available in the US) for overseas transactions, and a Virgin Money bank account for overseas cash withdrawals. UK cash withdrawals is not something I ever need to do, Apple Pay is accepted everywhere, and I mean *everywhere* even street traders.
I mean how can someone screw up a 2% card so hard? Virtually every other bank has a 2% card, and everyone is happy about it. What did GS do so wrong lol.
I know for me I’ve been using the Card for two weeks now it it’s been a BLAST I love the Daily Cash back and seeing how simple it is.
I feel as tiers of the Apple Card would best because for me I don’t travel a lot and really a beginner Credit user so the state of the Apple Card is really good for where it’s at on my end and then for those who are more experienced can upgrade to a better version of the card
Backdrop is amazing, what state is that ?
As long as I can still keep the card for free, and keep my high yield savings, I’m good
Gonna be awkward converting accounts. Benefit is that there isn't any card#, date, etc on the physical card. Bad news is that we'll all get new #s, BINs, savings account #s will change, etc. I'm very curious how Apple will manage a portfolio sale like this.
My main card I use is an Amex. I liked the Apple Card, because it is Master Card, so I could use it when Amex isn’t
accepted. If it changes to Amex and still doesn’t have 0% financing for Apple products, I would no longer use it.
If they lose 0% interest plans then apple will see product sales plummet. Whole point of the card for apple was increase in sales due to 0% interest payment plan, it’s only thing apple gets out of the deal.
you shouldn’t even be financing Apple products my friend…
@@good-tn9sr I always have the money to pay it off whenever I want to in a high yield savings account. I just use it to have more cash on hand instead of coming out of pocket for every purchase. Hell it’s 0% interest, It’s pretty financially sound with nearly 0 risk involved.
From my understanding they are unprofitable because they let too many people get a card that was not credit worthy.
I would need to see the numbers and data but I think one big perk was that the Apple card allowed an interest-free installment payment of Apple products. Credit cards are unsecured so GS has to back all those loans made on Apple products. We might have billions of dollars of Apple products that aren't fully paid for but GS has to pay Apple up front for their products. Time is money. All that time is wasted while money could have been allocated somewhere else like using it for business loans or personal loans for clients at GS that actually give GS a profit. If a deal would be made. I think Amex would remove that benefit.
Is it an opportunity for apple to disrupt the financial service market
Will I need to get a new physical Apple Card if they switch to Amex or possibly Discover.
black apple card with MR points would be AWESOME!!
Main differences is Amex can scale worldwide something Goldman couldn’t and can ad 2 billion users
I'm a citizen of the EU, no Amex over here. So 26 countries out of the deal
Great video! I love my Apple Card. Use it for everything.
We here in Canada have been waiting for Apple Card for a long time
Many things they need to do to not only make the product better but also make them more money and same time make customers happy.
If they would do like saying in the video, have levels of cards.
Few big things been saying is use customers Apple ID to gage what they spend on apple products, then make sure they get credit line only for apple products and it shows as a loan not credit card transactions. Next is help customers know what they need to do to get better limits and or better interest rates all with in the app as a guide path. When they hit select parts needed lets them know they have a better chance in getting an increase.
Then for the ones putting money in to GS should be taken in to account, JS Case does this with private banking and the reserve card aka palladium card , it’s based more on what you do with them internally.
As for Amex might be good but too many bad things. Many big customers that don’t have Amex now but have Apple Card given they been blacklisted, would they let them keep the account or ? Then what about the customers with crazy high limits.
Amex been know for charge cards not normal credit cards that hold a balance.
Yes they do have reg cards but it’s not like this and with the high limits that have been given out.
Honestly, I think I’d rather have a checking account, savings account, and the credit card. I really don’t care who it’s with as long as I don’t have to pay unreasonable interest. And having family sharing is even better since my wife and I share income.
You've got a really nice view outside of your window
Also, I guess depending on the holiday work, it going forward. I might just pull all my money out then that shit cause yeah
Introducing Card+ 😂
If this happens, I’m canceling Apple Card as I only use it when my Amex isn’t accepted which is around 20% of the time in the US. Also i’m sure a lot of people will cancel as I think most people with Apple card have an Amex, but not too sure.
One of your graphics says Amex is the most popular credit card in the UK…. It’s not, its 3rd behind Mastercard and VISA.
isn't goldman sax leaving a bunch of consumer stuff and leaning more towards larger companies? I feel like this isn't apple card specific from what I've heard
Apple should just make their own bank. they could use apple pay as the payment processor
My primary question is... what's going to happen to all the existing metal cards? They're going to remake all of them??
Their problem, not mine. I guess.
Amex actually makes sense as a better partner, they have a smaller but more affluent customer base, and have found a business model that allows them to profit that relies more on transaction and membership fees than interest on balances
Apple hasnt even opened Apple Fitness plus to worldwide users. Not getting excited for this in my country either.
i want a visa partnership
Amex would do much better because their high fees may be worth the relative high rewards, and lack of interest received from the card. I told an Apple employee in 2019 that this card would only last a few years and only a stupid bank would offer it. Well here it is Amex is not a stupid bank, they will look for a profitable path. This card could be a relatively good investment for them.
If the Apple Card is going anywhere, it’s going to…..Apple.
I would love to have an AMEX Platinum Apple Card! I would like to think that it might be slightly less expensive than just a regular AMEX platinum card, but I'm probably kidding myself. The airport lounge, options alone would make it worth it to me. Question: Does AMEX offer any kind of savings program?
Amex has a good high yield saving account and offers a checking account that earns rewards and interest. So it would be easy for apple of switch their savings to Amex and maybe even start offering checking.
I prefer a FREE CARD with less reward to an expensive card with more rewards.
Capital One Venture pays me 1.75 points towards my annual travel for FREE (no annual fee) while Venture X charges a $395 annual fee for 2X points unless you book on Capital One- which I don’t do.
I use Expedia.
For any card to get a annual fee out of me, they must offer huge perks for business class flights- the only way I fly.
I 100% agree with the Apple Daily Cash. Since I've placed money in the Apple Savings I just let my Cash Bonuses add up in there. I honestly wouldn't be opposed to an interest rates vs the current 0% APR for purchases from Apple. I would be against the insane Annual Fees that AmEx charges though. My other concern would be AmEx being accepted everywhere I go but the fact that the Apple Wallet is compatible with a huge amount of credit cards kind of offsets that concern.
Amex has cards at all annual fee levels, they aren't all sky-high. Even when they are, arguments can be made that credits and benefits given with the card greatly outweigh the annual fees.
Apple should actually do a much lower interest rate. I think they can make a lot more money since their UI is so simple and people can see how much they spend in interest so they are more concerned with paying large interest payments. If you can keep the interest payments lower they may let it pile on a bit more.
Trying to create a demand that doesn't exist. I really don't care what brand credit card I use, I just take whatever my bank uses. Rewards and cashback is not a thing here in Sweden.
Is it strange that I don’t have an Apple Card?
Do you know if the change happens it will be automatically for our credit card 💳 or maybe we going to ask for the new card?
More than likely will be the latter since the current physical card has the Goldman Sachs and MasterCard logos engraved onto the card.
I love this mainly because I hate Goldman Sachs
Why wouldn’t Apple just handle the back-end themselves?
Since they are the worlds highest valued company and stable enough to become a dedicated bank.
It would mean more freedom for Apple and they have the cash to fund it all.
They have to avoid a monopoly status and I think going into banking would be an extremely red flag for US gov
@davidjensen6742 ---- About six months ago they acquired a small company that develops software for running a modern bank. So I think it's likely we will see something like that in the future. Most existing banks like Goldman have really old cranky software that doesn't allow Apple to move as quickly as they'd like. But a drawback Apple wants to avoid in the US is the regulatory side which can be a bureaucratic nightmare. So if Goldman doesn't want to be the partner, no problem, Apple can just partner with another company for the regulatory side.
I suspect Goldman is just using this story as a negotiating tactic, trying to get a better deal from Apple.
@@bruxi78230 if true, good insight. I think if apple were smart they create a separate bank outside the apple reach and then 'partner' with that bank to have iPhone only features. Though they might still get dinged for it
Its a fair point. But I think its hard to convince the general public to put all their money into a bank run by a tech firm, especially given all the crypto and silicon Valley bankruptcies that have occurred over the years.
@@thomasacratopulo8114Most people using Apple's financial services are blind to the fact that the backend is run by a traditional bank. I think you miss that point. If Apple just did the whole shebang, literally 90 percent of clients would never think about things differently than they do now.
why would any company take that on knowing they will lose money. Are the people at Amex just dying to throw away a couple billion a year? they can give me some of that.
Meanwhile in India, we don't even have apple pay... let alone apple card :(
I thought they’d start making money off of the savings accounts we still get a fraction of what they make from the money we put in their savings accounts.
Apple needs to get more vendors on board with Apple Pay.
I have AMEX's Blue Cash Preferred card which is cash back and not points, so it's not out of the realm of possibility; they'd have to accept the HYSA and not change that model. To clarify though, the "loss" that GS is speaking to is not the realized losses, but the $ set-aside in the event all of the customers defaulted, which of course isn't the case -- to your point, Apple ensures customers are being as responsible as possible by informing the customer of exactly what they're paying if they do allow interest to accrue; the billion they quote is what customers have used in credit. Having no fees, no data collection for sale, it isn't a money-maker for GS, so it's really on them to balance those that do carry a balance to charge them an interest rate that enables them to make a profit. GS also has a competing product, Marcus, as well as a GM-branded card. They didn't realize the initial set-up costs for customer service dealing with chargebacks and issues, so that's a learning curve they have to eat. We'll see what happens -- AMEX would have to sign a deal that's still very beneficial for Apple (and there was an article that said even GS's head of their consumer segment taking over asked, "Who signed-off on this?" alluding that so much of the initial cost was on GS and not on Apple -- no wonder GS is looking to offload their consumer segment).
Drew, you have a wild missed understanding of how credit cards work Goldman Sachs makes percentages of every purchase you make the percentage back is peanuts
Drew as there any stores that do not take Express so I saw no if you answer Yes that means even more loses because people will use other cards
Hey nice fit on the shirt. I respect a well-fitted shirt.
Gs isn’t losing money because of the Daily Cash. It’s irresponsible people not paying their bill + chargebacks
Bad deal for banks means good deal for Apple. But Good deal for Apple doesn't mean good deal for you.
But in general, Apple sheep doesn't bankrupt so often and tend to spend too much money on stuffs. So it may be reasonable for everybody involved.
The Apple Card Pro, powered by American Express…
Well, if there’s a fee, I guess I will be closing my Apple Card account
Switching to American Express is a bad idea to make Apple Card use in overseas. Apple Card is already a Mastercard and Mastercard is too much wider acceptance over American Express. American Express has very limited use area ın comprison with the Mastercard. Therefore AMEX should not to be the way. That would be a big mistake for Apple Card.
I would use Apple Card more if there was tiers and more reward.
But also would like the credit amount to continue to increase even if you don't upgrade tiers.
I’ll wait with bated breath for Apple Pay to come to the Philippines first before waiting for Apple Card
Kuya o Ate (sa palagay ko lang ito ngayon) ang problema po kasi ay ayaw siguro ng mga bangko na nagsimula dyan sa Pilipinas (tulad ng BDO, Landbank, BPI, Metrobank, PNB, at ang mga iba pa) na gawing available ang mga debit, credit, prepaid, at ATM cards nila sa Apple Wallet (para sa Apple Pay) kasi kumukuha ng porsyento kada transaksyon si Apple at ayaw nila iyon siguro kasi malaki ang mawawala sa kanila.
Ang Google Wallet (para sa Google Pay) at ang Samsung Wallet (para sa Samsung Pay), sa pagkakaalam ko, ay HINDI kumukuha ng porsyento kada transaksyon ngunit hindi ko lang alam kung available na ang mga Philippine-based debit, credit, prepaid, at ATM cards sa kanilang mga plataporma.
@@PaulMaglaya it’s also not in Bangko Sentral’s interest and priority right now.
Isn’t Goldman partners with Amex????????
This will be a disaster. Amex is not accepted everywhere like Visa/MC. The goal of Apple is to make this as simple as possible. Amex MR points is anything but. That rewards system can range anywhere from 0.5 cpp to 10 cpp. All the hoops you have to go through just to get a flight will be crazy. Amex likes exclusively. Apple wants to be an every person brand. Amex also has a terrible cash back system. Choose any other bank but Amex or Discover. It absolutely has to be a Visa/MC and has to be cash back.
AmEx charges the same as Visa/MC/Discover…. Your premise is based on VERY old data!
Apple Card is trash. Only cool thing about it is the titanium metal, but it ends up being in the sock drawer since Apple Pay is how you earn the extra cash back. 1% back as a baseline can be earned by almost every card.
these unsupported emojis in titles in comments are ridiculous, my youtube app on the iPhone sees it just fine but when I go to watch on my windows computer in chrome it's just box with a question mark, at least in the title it is, in the comments that use it I just see a blank box, this really makes me believe we should stop using emojis in video titles, it just makes it so people who can't see it have no idea what the video might be about and then they might not click it, idk if I'll get hate for this comment or not but it's not like I'm hating on the creator because maybe he doesn't know and I'm only trying to be helpful but what do i know
Sound was not that great on this video
This would kill Apple Card for me. I don’t travel so have no use for travel points. Also apmex is solely a credit card so kiss savings account good bye. Lots places don’t take it either. I really hope this doesn’t happen. Also my Apple Card doesn’t have expiration date. All it has on it is my name.
Technically they could keep the savings account with Goldman Sachs similar to how Apple Pay Cash is handled by GreenDot bank rather than Goldman Sachs and they worked together to send Daily Cash although if the split did happen I could see the saving account separate from the Apple Card into its own product
American Express has had its own deposit accounts since November 2008: a high-yield savings account (HYSA; you DO NOT NEED to have an AMEX credit card to open one) which, as of Tuesday, 4 July 2023, has a 4.00% APY and a high-yield checking account (HYCA; you NEED to have an Amex credit card to open one) which, as of Tue, 4 July 2023, has a 1.00% APY.
Nonsense that is what this guy is talking.
Man I love your videos and the amount of value you back into every single video is insane to see. Would you be open to the idea of having me enhance your editing to match the amount of value that you provide to your audience?
Good moooooorrrrrning (good evening Philippines 😆)
Honestly praying this means it will expand to the UK
It's impressive how backwards this is about the Apple Card. I know you're more tech-focused, but you need to do due diligence on these videos -- you hold and authoritative position here. Two points:
1. Goldman Sachs wants out of this nightmare because consumers are NOT paying these off -- 1:38 is dead wrong
Credit card debt, and consumer debt more broadly, is at an all-time high. Non-payment on debt has been more common in these turbulent times, and GS's charge-off rate of ~3% is indicative of this. Charge-off is when the debt is late for six months and is deemed a total loss. ~3% is double big players like Chase and worse than other sub-prime lenders such as Discover (~2.75%). 3% may not sound like a ton, but we're talking billions in losses at the scale of AC's wide adoption.
Generally, your primes/super-primes are going to be worried about 1:09 -- the math always wins. AC's 1/2/3 isn't competitive, even at tier 2. Generally the market AC has been in is its wide availability via Pay and it's flex status as a metal card. GS has been too liberal with their card approvals to individuals who aren't your average "AmEx sheep."
2. AmEx as bank/network makes international offerings for Apple Card more complicated
Directly, from that site that you're borrowing the graphic from, that map is from Google Trends:
"The map above shows which credit card company is the most popular in each country based on Google search data from Google Trends. It does not reflect the number of cards issued, nor transaction volume, simply the volume of searches for each company."
I.e. not reflective of popularity in the slightest. AmEx is popular as a high-end brand akin to Apple, but adoption and acceptance is leagues below Visa and MC, largely due to tx fees. By no means does AmEx acquiring the deal make int'l versions of the card likely. It's quite likely that AmEx pulls back the reigns on sub-prime accounts to avoid a similar situation GS is in, as generally that's not their forte; they are notoriously litigious if they aren't paid.
Goldman ballsaccs
They gave the Card to people with high credit scores which is probably the people who pay their balances off.
Source: crack pipe.
They won’t offer a higher tier card. That would compete with Amex’s cash cow cards. If Amex acquires it, it will likely replace one of its lower tiered cards such as the cash everyday or blue cash everyday. Due to the high fees it could mean a great profit for Amex or at least data and entry into their world. I told an Apple employee at the Apple Store weeks after getting my Apple Card that it would last because it would be a money loser for Goldman Sachs. It reminds me of the Citi/Costco deal, sometimes I wonder what moron is negotiating the terms of these deals.
I personally don't care until it comes to Europe.
How are they losing 1B$ on this?? Are they that bloated and inefficient?!?
I don’t see how they’re making money at all when we get cash back no matter where we use it and there’s no fees.
@@jacobg.witmerthe money is made from processing fees and interest paid by other customers. I’ve read somewhere that they’re losing money cause others aren’t paying back their debts to the Apple Card
@@jacobg.witmerthey charge stores 3% or more to use the card. So if they give back 2% they still making 1% off every purchase
Apple should choose the firm who manages their trillions of dollars in the bank account
Philippines is awesome
DUDE IF APPLE LETS US HAVE A CHECKIN ACCOUNT I WOULD SO TOTALLY DITCH BOA LMAO… XD
I am so happy about this you have no idea. I've actually been talking about this ever since Apple Card came out. I've always dreamed and talked about what if they partnered with someone else, like a JP Morgan Chase or AMEX.
Because we all know that Goldman Sachs has failed miserably at Consumer Banking. its not a secret. Their charge of rate is worst than Capital One.
The king of Subprime consumers.
The constant audio/video edits in this video are super off putting
oh no apple is reminding users to pay their card and we cant make money waaa waaaa waaaa