I agree with Gruber. 24% is usury, 13% is not “low”.
I already have a card with those sorts of interest rates and “rewards”. That leaves just two things that Apple Card offers: Complete integration with iPhone, and a physical card with no redeeming characteristics, i.e. no number on the card, no cvv code, no expiration date, and no signature. Those physical things make the card a little less “theftable”.
Still, if Apple wants to shake up this market they need to offer interest rates below 10%. I would say 5% if you have good credit, and 10% if you don’t. That would be innovative!
I suspect Apple is afraid of the credit industry’s wrath on that one.
Curiosity: Who collects the interest, Apple or Goldman Sachs? It’s an Apple branded card, but Goldman is issuing it.
Boise State! … Boise State! … Boise State!