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The Ban Hammer
Join Date: Aug 2004
Location: Boyzeee
2019-03-26, 11:00

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.

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