Goldman plans on fixing issue that has some Apple Card users claiming gender discrimination

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High Son for CNBC:

Goldman Sachs is looking into ways that family members can share a single Apple Card account after a few high-profile users complained that their spouses were discriminated against… In most cases, the issue stems from the Apple Card being only for individual accounts, not joint accounts shared by a household, according to Goldman spokesman Andrew Williams.

That setup makes it “possible for two family members to receive significantly different credit decisions,” Williams said. He added that the bank is actively exploring ways to allow users to share their Apple Card with family members.

Goldman was aware of the potential issue before it rolled out the Apple Card in August, but it opted to go with individual accounts because of the added complexity of dealing with co-signers or other forms of shared accounts, according to a person with knowledge of the matter.

MacDailyNews Take: There is not even a field for gender in Goldman Sachs’ Apple Card application process.

Goldman Sachs’ statement on the matter:


  1. That excuses is pure bulls**t. It seems pretty clear that the two women mentioned in these stories applied individually for the ACards. It was only when they compared with their husbands that they discovered that they had received lower ratings and credit limits. It appears that Goldman Sachs is clearly discriminating against women. It’s time for that crap to end.

    1. We may not know how Goldman’s algorithm discriminated against women, but who cares? The legally significant point is that it apparently does have a disparate impact against women. When a real estate company rents to white folks, but not to black applicants, it doesn’t matter how they do it, just that they do (see Trump Organisation consent degree).

      Trying to blame it on the credit agencies or whoever also misses the point. The scores come from “black boxes,” too. If they discriminate, it no more gets lenders off the hook than if a school district blamed residential segregation for its school segregation.

      It looks like Goldman has learned a valuable lesson. At least allowing joint accounts will avoid the worst results of their wonky algorithm.

      1. Pretty straight forward actually. Normally on a joint credit account, you’re given a joint limit based on your individual credit scores. If one person has something bad on their credit, it can lower the limit for both people and raise the interest rate. Seems Goldman was treating each card holder on a joint account as an individual, which seems innovative, not discriminatory to me.

    2. Here’s reality. You don’t have any idea what you are talking about, but the absence of facts rarely bothers you, . The only crap that has to end is what you are shoveling on this page.

    3. From what I read they applied for joint accounts. Normally if one person’s credit sucks, they still get the same limit though. They jointly get a lower limit than the person with the better credit would have gotten on his own.

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