In the late 1990s, Steve Jobs and Apple were involved in discussions with Capital One about a credit card. However, Jobs was concerned about his customers feeling rejected by Apple if they weren’t accepted for a card.
According to CNBC, a former Capital One executive stated Steve Jobs “had an aversion” to reject any of his customers for an Apple credit card. After the card went through a testing period, it was eventually cancelled.
Apple is now working with Goldman Sachs on launching its first credit card. The card appears to be somewhat addressing Jobs’ concerns – with exceptionally high approvals thus far.
MacDailyNews Note: If you’ve got your Apple Card, or when you get it, make sure to change your payment method for Apple services like the App Store, iTunes Store, iCloud storage, Apple Music, Apple News+, and more, so that you get the 3% daily cash back that Apple Card offers! How to do so quickly and easily is explained by Apple here.