Apple Card by Goldman Sachs

[JR_TX]

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@SBR249 wrote:

Got an email saying that my invite is waiting except they couldn't send it because I didn't use my Apple ID email. Except they sent that email to my email address that I use for Apple ID. Oh well what can you do. 

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Lol. I got one of those too!

I’ve made over a dozen requests using my appleID and not one invite. They had to send an invite to the one and only one “test” e-mail address I requested just to see what happens! Oh boy did I really see now what happened! LMFAO

[Anonymous]

Got the email saying to verify email address then I’ll get my invitation? Where should I look for the invitation to apply?

[Anonymous]

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@SBR249 wrote:

Got an email saying that my invite is waiting except they couldn't send it because I didn't use my Apple ID email. Except they sent that email to my email address that I use for Apple ID. Oh well what can you do. 

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I was about to post the same thing. I had signed out of the ID briefly yesterday, thought that might be it. Anyway, I confirmed it and did tthe notify me from safari on the iphone. 

I'm not really expecting to be approved. While my scores are OK, I only have 10 months history and if don't have ID with my US address on it.

[Anonymous]

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@JR_TX wrote:

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@SBR249 wrote:

Got an email saying that my invite is waiting except they couldn't send it because I didn't use my Apple ID email. Except they sent that email to my email address that I use for Apple ID. Oh well what can you do. 

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Lol. I got one of those too!

I’ve made over a dozen requests using my appleID and not one invite. They had to send an invite to the one and only one “test” e-mail address I requested just to see what happens! Oh boy did I really see now what happened! LMFAO

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We got subprime invites! Days late and to the right address but saying it's not. The Apple Card is the drunken one-night stand trying to pretend they don't know us when we turn out to be new workmates.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

The transaction presumably is also sent from card to phone - remember the card won't work without the phone - so it would work the same way as an ordinary transaction.

A statement is just a snapshot in time. The bank doesn't need a statement in order to calculate what you owe at any given time. There's no reason it has to be done centrally and pushed out when all the data is already sitting on the customer's phone. This is a big part of the whole platform Apple, GS and MasterCard have built.

No printing and mailing of statement. No cheque processing. And since those options don't exist, they had no reason to take the old backbone and put a digital face on it that simulates it.

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I don’t know where you heard that the card won’t work without the phone but that’s false. It’s a totally normal card that just doesn’t have its numbers printed on it. Nothing else about it is different functionally. 

The payment part is correct though. Since it’s all digital payments only, there’s no need for traditional processing time for payments and statements. 

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I was fairly sure, but now am questioning, that I read something was transmitted, but can't find anything to support that.

So much of the banking system is set up to support an increasingly small percentage of paper transactions. To today's children the concept of a cheque will seem as bizarre as a telegram does to their parents.

[Anonymous]

When I received my invitation I found the card in the wallet app. You hit the little + button in the upper right, click continue and the option to apply is there. They also send an e-mail that opens the wallet app.

Hope this helps!

[RotaryP7]

They probably want to verify you're Apple ID e-mail address? Make sure you're on iOS 12.4. 

[Anonymous]

Yeah I verified everything, and made sure my phone is updated.. still nothing. Guess I’ll wait a few days.

[Anonymous]

Just got Apple Card: $20,000. 12.99% APR

My Fico: Exp:838, Trans:832, Equi:830

[NRB525]

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@Anonymous wrote:

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@NRB525 wrote:

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@Anonymous wrote:

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@NRB525 wrote:

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Interesting. So they plan to close the statement at midnight and be able to calculate everyone’s statement for display within 24 hours.  

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They aren't doing the calculations and sending you a statement. The calculations and statement generation all take place on your phone, in the app itself, in real time. So yes, even if you make a payment at 23:59 on the 31st, your statement will reflect that at 00:01 on the first. 

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I got that. I said display.  

Other banks take at least a day to get the PDF available on their website. Often two days later you can actually get a copy of the PDF back dated / showing the Statement Date.  That is due to the calculation requirements to square transactions, interest charges, recent payments that may have shown up at 11PM on the 31st. 

For millions of customer statements all at the same time of the month, the same minutes.

I sincerely doubt they will be able to make it available at 12:01 AM on the 1st.

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You're not getting it. It's not millions at the same time. It's only happening on people's phones, using data on their phones. Goldman Sachs isn't generating any statements on their end at all.

It's exactly the same as having your movements and exercise summarize at midnight. 

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Ok. You sold me. I completed the app to get the card, and bought a soda from the vending machine in a matter of 5 minutes. 

If it really does calculate on the phone, it is the sort of tech change I have to see to understand.  

I do notice the card image started stark white, now has a color shading after 1 transaction, so there is probably the visual feedback of changing colors to give it a video-game feel. The more you spend the more complex the pattern you are rewarded with? Is the color balance affected by the categories of spend you have done?