There’s something you need to do before you make your first Apple Card purchase: reject its arbitration provision.
Invitations to get an Apple Card are trickling out, but even before you make the first purchase with your shiny new credit card you should reject its arbitration provision.
If you don’t, you give up the right to benefit from any class-action lawsuits brought against Goldman Sachs, the company backing this card.
It’s slightly gloomy to plan for disaster, but it’s necessary. And if anything ever goes wrong in your dealings with this financial institution, it’s better to have the option to take them to court. Or let others take Goldman Sachs to court on your behalf, via a class action.
MacDailyNews Note: The Apple Card Customer Agreement explains the process in all-caps:
YOU MAY REJECT THIS ARBITRATION PROVISION BY CONTACTING US USING MESSAGES, CALLING US, OR WRITING TO US, AND STATING THE FOLLOWING: (I) YOUR NAME; (II) THE EMAIL ADDRESS ASSOCIATED WITH YOUR ACCOUNT; (III) THE ADDRESS ASSOCIATED WITH YOUR ACCOUNT; AND (IV) THAT YOU ARE EXERCISING YOUR RIGHT TO REJECT THIS ARBITRATION PROVISION (A “REJECTION NOTICE”). YOUR REJECTION NOTICE MUST BE RECEIVED WITHIN 90 DAYS AFTER THE OPENING OF YOUR ACCOUNT. IF YOUR REJECTION NOTICE COMPLIES WITH THESE REQUIREMENTS, THIS ARBITRATION PROVISION WILL NOT APPLY TO YOU, EXCEPT FOR ANY CLAIMS SUBJECT TO PENDING LITIGATION OR ARBITRATION AT THE TIME YOU SEND YOUR REJECTION NOTICE. ANY REJECTION NOTICE THAT COMPLIES WITH THIS PROVISION WILL APPLY TO BOTH US AND APPLE. REJECTION OF THE ARBITRATION PROVISION WILL NOT AFFECT YOUR OTHER RIGHTS OR RESPONSIBILITIES UNDER THIS ARBITRATION PROVISION OR THIS AGREEMENT.
Apple Card holders can contact the company via:
• Apple Messages
• Phone toll-free: 877-255-5923
• Snail mail to:
Lockbox 6112
P.O. Box 7247
Philadelphia, PA 19170-6112