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The Apple Card was the launch of a credit card most successful ever

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Published on Oct 15, 2019

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The Apple Card was the launch of a credit card most successful ever

The Apple Card was “the launch of the credit card of the most successful ever,“ according to David Solomon, CEO of Goldman Sachs (via CNBC). The quote came from a conference call of Goldman Sachs, in which Solomon has discussed the new initiatives of the bank with its investors.

Apple created the “Apple Card” in collaboration with Goldman Sachs and Mastercard, by launching the credit card in August. Solomon said that since the launch in August, the bank has seen a high level of consumer demand for the credit card of Apple.

“In three short years, we have collected $ 55 billion of deposits on the platform, Marcus generated $ 5 billion in loans and built a new platform of credit cards, and launched the “Apple Card”, said Solomon, adding, “which we believe is the launch with the most successor of a credit card-ever.”

“By August, we were pleased to see a high level of consumer demand for the product. From the point of view of operating risk, we managed the inflows without a hitch, and without an understanding of our underwriting standards of the credit.”

IPhone owners can request a “Apple Card” directly in the app Wallet on iOS and, once approved, they can immediately start to use the digital version of the paper. The Apple Card is also available in a physical version in titanium to be used in places that do not accept Apple Pay.

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