On a conference call Tuesday, Goldman Sachs CEO David Solomon called his bank’s rollout of the Apple Card “the most successful credit card launch ever.”
“In three short years, we have raised $55 billion in deposits on the Marcus platform, generated $5 billion in loans, and built a new credit-card platform and launched Apple Card,” Solomon said, adding “which we believe is the most successful credit card launch ever.”
Continuing on the Apple Card, which the bank built in partnership with the iPhone maker, Solomon said that “since August, we’ve been pleased to see a high level of consumer demand for the product. From an operational and risk perspective, we’ve handled the inflows smoothly and without compromising our credit underwriting standards.”
MacDailyNews Take: As predicted:
Apple Card will be a smashing success! — MacDailyNews, April 29, 2019
I can certainly see people using this to get their ‘cash’ back while not realizing they just went further into debt. Biting that apple can be very expensive in the long run if you don’t have financial acumen, most Americans do not.
40% of people live pay check to pay check. Doesn’t matter how much they make. I think as long as people can make money off you they don’t care until you become a liability.
Most people are morons and that includes people from wherever you are from.
Mick just outed himself.
Gimme I want one now.
I obtained and used for every purchase I made for a month and then I had to manually enter all into my Quicken. I’ll not use again, until they, like every other credit card on the planet, auto-connect to Quicken.