In other news—managed to at last set up an #Apple#savings account. Was inexplicably denied last time I tried. I'd never heard of any limitations like this, but I wonder if either only having about $4 and change in #AppleCash and/or a pending #AppleCard balance due were a factor.
Goldman is just finally coming to terms with being ill-equipped for consumer #banking at scale, especially Apple scale.
Your own summary (https://apple.news/AvwaAeBAERxCngMazVEj0og) notes Goldman also wants to ditch their #GeneralMotors card and reduce #Marcus consumer banking, and recently scuttled a #TMobile card partnership. Various consumer execs have also left over the past few years—cause or effect?
Goldman is just finally coming to terms with being ill-equipped for consumer #banking at scale, especially Apple scale.
Your own summary (https://apple.news/AvwaAeBAERxCngMazVEj0og) notes Goldman also wants to ditch their #GeneralMotors card and reduce #Marcus consumer banking, and recently scuttled a #TMobile card partnership. Various consumer execs have also left over the past few years—cause or effect?
This seems like an incredible deal until you read the fine print.
"Earn a total of 10% Daily Cash back on up to $2,000 in total qualifying purchases, made outside of Apple, at Ace, Exxon Mobil, Nike, Panera, T-Mobile, Uber, and Walgreens."
"The total Daily Cash back that can be earned with this offer is $200 total, $100 per shopping category."
Report: Apple and Goldman Sachs are breaking up over money-losing Apple Card (arstechnica.com)
Goldman Sachs has lost billions of dollars on its consumer-focused businesses.