Apple Card Issuer Faces Controversies and Criticism

Apple Card, issued by Goldman Sachs, has been in the news for all the wrong reasons. The issuer has faced numerous controversies and criticisms since its launch in 2019.

One of the main concerns is the algorithm used to determine credit limits. According to the issuer, the algorithm takes into account various factors, including income, credit history, and spending habits. However, the algorithm has been accused of being biased against women, as it reportedly assigns lower credit limits to female applicants with the same income and credit history as male applicants.

The issuer has also faced criticism for its customer service, with many users reporting difficulty in getting help or resolving issues with their accounts. Despite efforts to improve service, the issuer still has a long way to go to meet customer expectations.

Goldman Sachs, the issuer of the Apple Card, is being probed by the New York Department of Financial Services for allegedly discriminating against women in determining credit limits.

The investigation was sparked by a complaint from entrepreneur David Heinemeier Hansson, who claimed that his wife was offered a credit limit 20 times lower than his despite their joint tax returns and long marriage.

Goldman Sachs spokespersons have maintained that their credit decisions are based on a customer's creditworthiness and not on factors like gender, but the company's algorithm has come under fire for its lack of transparency and potential bias.

The New York Department of Financial Services is investigating Apple Card issuer Goldman Sachs for potential gender discrimination in determining credit limits.

Goldman Sachs claims its credit decisions are based on a customer's creditworthiness, not on factors like gender, race, age, or sexual orientation.

Entrepreneur David Heinemeier Hansson, also known as DHH, accused Apple Card of having a sexist algorithm that gave him 20 times the credit limit his wife deserved, despite their joint tax returns and long marriage.

Apple co-founder Steve Wozniak seconded Hansson's complaint, saying he and his wife also experienced a significant difference in credit limits.

A Goldman Sachs spokesperson attempted to downplay the issue, stating that the company's credit decisions are based on a customer's creditworthiness.

However, Hansson argued that the algorithmic system is biased and sexist, and that Apple has handed over its customer experience and reputation to an unaccountable system.

The investigation into Apple Card is ongoing, with no response yet from Apple.

JPMorgan Chase is reportedly in talks with Apple to become the new issuer of the Apple credit card.

The discussions have advanced in recent weeks after getting started earlier this year, according to the Wall Street Journal.

There is no guarantee an agreement will be reached, and JPMorgan Chase declined to comment on the report.

Apple and JPMorgan Chase already have ties, including offering deals on Apple products to Chase customers and the bank paying the tech company whenever one of its card customers uses Apple Pay.

JPMorgan Chase is negotiating to pay less than full face value for the outstanding balances in the Apple credit card program.

The program includes terms that could be costly for any issuer, and Apple has subprime exposure.

Chase could be a natural successor to take over the Apple credit card program due to their existing relationship with Apple.

The two companies already have a significant relationship, with Chase being one of the earliest Apple Pay partners and storing some of Apple's cash on hand.

If you've lost or had your titanium Apple Card stolen, you can request a replacement through the Apple Card app or by contacting Apple Support.

To order and activate a new titanium Apple Card, you can do so through the Apple Card app or by visiting the Apple website.

You can find detailed information on how your Apple Card works by exploring the Apple Card User Guide.

If you need help with your Apple Card, the User Guide is a great resource to learn all about how to use and manage your card.

If you're looking to get a titanium Apple Card, you can order and activate one through Apple's website or app.

You can learn all about your Apple Card and how it works by exploring the Apple Card User Guide.

To replace a lost or stolen titanium Apple Card, you can follow the instructions on Apple's website or app.

The Apple Card User Guide is a great resource to have handy, as it covers everything you need to know about your card.