#Apple card

[tumovs]

Goldman Sachs’ foray into consumer #banking in 2016 was quickly heralded as (and seemed to be) a great success. A few days ago, the bank announced an almost $3 billion loss from that business. Let’s take a look.

Despite the initial skepticism, Marcus proved a huge success: by 2020, Marcus was one of the fastest-growing #digital #banks in the US with more than $80 billion in deposits and $5 billion in loans.

Aggressive pricing, state-of-the-art #technology, reliable customer service and a well-known brand name count among the reasons for the rise. Markus’ success was twice important because - on top of commercial reasons - it exemplified one thing: how traditional financial institutions (Goldman was founded in 1869) can adapt to the #digital age and compete with #fintech players.

Several things have gone wrong:

1) Goldman’s overly aggressive pricing (to gain market share) during the boom years

2) Poor risk #management with more than 25% of card loans going to financially weak customers and a provision rate at subprime levels

3) Expanding defaults as a result of the deteriorating macro environment

4) Bad management decisions such as the one to merge (previously independent) Marcus with the wealth management segment

5) Service quality (i.e. disputes over chargebacks) not being able to keep up with an increasing customer base.

The credit card business is traditionally a hard one to crack, more so for newcomers even if they are called #Goldman_Sachs. And there seems to be no way back for what was once hailed as one the company’s biggest successes. Timing and bad management decisions have proven – once more – an unbeatable combination.

Reawd more, the full article at: 👉

Opinions: my own, Graphic sources: #Goldman Sachs, Roel Wieringa

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[murillopereiradecarvalho]

Apple Credit Card Bank: Your Modern Financial Request Now!

Apple has introduced a new financial service: the Apple Credit Card Bank. This partnership with Goldman Sachs brings a fresh approach to banking. It focuses on making banking easier and more user-friendly. The Apple Credit Card Bank meets the needs of today’s consumers. It offers a titanium Mastercard that looks great and is very secure. It also works well with Apple’s products, making managing…

[karambill]

Horrible banking experience with Apple Card GoldmanSachs Bank. I over paid my acct $1,407!

After 30 days they still have my funds.

So I closed the account.

[pepsimanx360]

Hi, there’s never been a better time to apply for Apple Card.

If you apply through the link below, get approved, and open a new Apple Card, you get $75 Daily Cash when you also make your first purchase within 30 days.

Apply here:

https://apple.co/referyourfriends

#AppleCard

#Apple

[laurentgiret]

Apple announced today that its Apple Card now has more than 12 million users in the US who earned more than $1 billion in Daily Cash rewards in 2023.

[todaynewsonline]

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[elizi--s]

teto edit of a card i like

[chaotic-fever-dream]

NEW PIECE TO MATCH THE OTHER TAROT CARD!!!

[romancemedia]

The Best of Anime Friendships

[claudtrait]

birthday #2 and reid still has no photo of him aging up… I SWEAR I LOVE HIM

[cozylittleartblog]

small PSA: if you shop at craft shows or artist alleys, please bring more than apple pay or a virtual card - especially if you're not comfortable entering your card number manually. not all of us have fancy card readers, so please also bring your physical card or cash, even if it's only as backup 👍

[applesartt]

Generosity

[trainerjoshie]

Pokémon TCG SV Twilight Masquerade (2024) Applin illustration by Katsunori Sato (removed card text)

[jewishdragon]

Listen. If you’re tired of Cards Against Humanity getting repetitive, instead of using the white cards use the red cards from apples to apples as the answers to the black card prompts ;)

[laurentgiret]

Apple is reportedly planning to end its partnership with Goldman Sachs for its Apple Card and high-yield savings account.

[todaynewsonline]

SBI Credit Card Rate of Interest: Everything You Need to Know "SBI Credit Card"

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