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Apple pulls plug on Goldman credit-card partnership

wsj.com

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Re: Apple pulls plug on Goldman credit-card partnership

#21

Post by geodel »

cpncrunch wrote: post #10

This article is paywalled, with no way to bypass. Non-paywalled summary here: https://www.theverge.com/2023/11/28/23980261/apple-is-report... Can I assume everyone commenting here has a WSJ subscription?

> Can I assume everyone commenting here has a WSJ subscription?

Nope.

But you can assume more often than people on internet comment based on just reading headline / TLDR summary or maybe first paragraph and then jump on to commenting. And I may just do same as my apple news+ subscription expired last week. I didn't feel too motivated to pay increased monthly sub with no annual option to save a few bucks.

Re: Apple pulls plug on Goldman credit-card partnership

#22

Post by petemir »

wdb wrote: post #14
giobox wrote: post #11

Earlier quoted context omitted.

This would be a bit of a detractor for me, Amex is not as widely accepted, especially when traveling in Europe. Mastercard is accepted virtually everywhere in the EU and UK.

Yeah, I had an Amex card and it was pretty useless in Europe. Admittingly that was more than five years ago so maybe things have improved by now.

At least in Switzerland, Amex is still a pain to use.

Re: Apple pulls plug on Goldman credit-card partnership

#23

Post by Sayrus »

wdb wrote: post #14
giobox wrote: post #11

Earlier quoted context omitted.

This would be a bit of a detractor for me, Amex is not as widely accepted, especially when traveling in Europe. Mastercard is accepted virtually everywhere in the EU and UK.

Yeah, I had an Amex card and it was pretty useless in Europe. Admittingly that was more than five years ago so maybe things have improved by now.

In France, the fees required to accept Amex are still way higher than MC/VISA. They are still not widely accepted and not a lot of persons know about Amex.

Re: Apple pulls plug on Goldman credit-card partnership

#24

Post by petemir »

giobox wrote: post #11
parl_match wrote: post #5

Earlier quoted context omitted.

The rumor is that Apple Card will move to Amex. WSJ says 12-15 months, but AppleCard is contractually obligated to use the MC network until 2025. I can't imagine they'll close all those accounts, so likely we'll see some sort of migration leading up.

This would be a bit of a detractor for me, Amex is not as widely accepted, especially when traveling in Europe. Mastercard is accepted virtually everywhere in the EU and UK.

I hate that it works this way, but perhaps an Apple-Amex deal is what is needed for businesses to start accepting Amex.

Edit: typo

Re: Apple pulls plug on Goldman credit-card partnership

#25

Post by herpdyderp »

malwarebytess wrote: post #16
not-my-account wrote: post #2

Hm, what would this mean for Apple Card users? Would it be shut down? How about those who have Apple Savings Accounts?[0] [0] https://www.apple.com/newsroom/2023/04/apple-cards-new-high-...

I'm more interested in the savings account integration. I've found it super convenient. Too low APR for long term savings, but the convenience is worth the difference to me for short term savings parking. I keep $30K or so in it revolving for moving money around. Not to mention the cashback deposit right to the account.

> Too low APR for long term savings

What APR is your baseline for long term savings? I'm interested in where you see significantly higher APR savings accounts because the Apple Card Savings Account is 400x my previous savings account APR.

Re: Apple pulls plug on Goldman credit-card partnership

#26

Post by herpdyderp »

cpncrunch wrote: post #10

This article is paywalled, with no way to bypass. Non-paywalled summary here: https://www.theverge.com/2023/11/28/23980261/apple-is-report... Can I assume everyone commenting here has a WSJ subscription?

I didn't read it but am still participating.

Since I've been aware of this story for quite some time, the fact that it finally happened is all that really matters to me (which the headline covers, assuming it's correct). I probably know all the details already, unless something really unexpected happened.

Re: Apple pulls plug on Goldman credit-card partnership

#28

Post by flwjliwjle »

Good. They should shut down the whole Apple Card program. It was awful.

I had an Apple card for two months. In those two months, I had more inexplicably declined transactions than in the other twenty years with other cards combined. Every single time I called support and Goldman Sachs pointed at Apple and Apple pointed at Goldman Sachs and the problem never got resolved. They both did an astonishingly bad job.

Re: Apple pulls plug on Goldman credit-card partnership

#29

Post by byteCoder »

wdb wrote: post #14
giobox wrote: post #11

Earlier quoted context omitted.

This would be a bit of a detractor for me, Amex is not as widely accepted, especially when traveling in Europe. Mastercard is accepted virtually everywhere in the EU and UK.

Yeah, I had an Amex card and it was pretty useless in Europe. Admittingly that was more than five years ago so maybe things have improved by now.

Interesting. I had zero issues using my Amex in France and Switzerland this past summer. In fact, there was only one restaurant that I visited that wouldn't take it. I must have been lucky.
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