Comment by fullshark
2 days ago
I don’t really get why it’s a bad deal for GS or how “Apple outplayed them” based on that article. Just seems like a frayed partnership cause they didn’t hit their numbers.
2 days ago
I don’t really get why it’s a bad deal for GS or how “Apple outplayed them” based on that article. Just seems like a frayed partnership cause they didn’t hit their numbers.
The Apple Card has a lot of sub-prime borrowers because Apple pushed to approve almost everyone.
Plus Apple had things structured for fewer fees to be charged than normal cards for late payments, foreign transactions, etc.
That combination meant GS didn’t see the expected profit and in fact lost money (reportedly).