Finance

2277 readers

2 users here now

Economic and financial news from around the world, including cryptocurrency and blockchain.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

alyaza@beehaw.org

gyrfalcon@beehaw.org

coldredlight@beehaw.org

remington@beehaw.org

WSJ: Goldman Sachs wants to bail on Apple Card partnership after $1B loss, in talks with Amex (9to5mac.com)

submitted 1 year ago by SemioticStandard@beehaw.org to c/finance@beehaw.org

2 comments fedilink hide all child comments

How have they lost so much??

you are viewing a single comment's thread
view the rest of the comments

[–] cecirdr@beehaw.org 4 points 1 year ago (1 children)

Yikes! I had no idea there was any way to lose money when credit card rates were so high. The article says that they had to approve people with lower scores than they would normally do, so they are having to write off double the volume that other issuers are.

...and I just opened my savings account with Apple/Goldman a couple of months ago.

[–] randomguy2323@lemmy.fmhy.ml 1 points 1 year ago

I do not think you should worry about the Savings account. Its a not a big loss for them not like credit cards.