Goldman Sacs Dipping into Subprime Lending with Apple Card

An interesting article. Someone with a score of 620 got approved. On one hand, this card could give people who are looking to build credit an excellent opportunity to bypass a secured card and get this while still getting rewards with not may other benefits. I also feel as though there are a lot of people, especially younger people, who will get this card primarily as a status symbol because its apple and made of titanium and then get into trouble because they don’t fully understand how credit cards work. I also have read some other posts such as the one in r/apple showing MKBHD’s unboxing and there is a lot of talk of the high interest rate which shouldn’t matter if people pay it off. Just seems to me this card is going to get a lot of people in trouble.

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Author: /u/WittySignificance

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