Apple Card Could Find New Home With Barclays or Synchrony.

[hollifield7034]

https://www.cnet.com/personal-finance/credit-cards/apple-card-could-find-new-home-with-barclays-or-s...

[quickstep_knoll]

Synchrony doesn't seem like the right partner for Apple. I think a bad card experience risks diluting Apple's brand (though they will be fine).

Barclays is more interesting, on brand, but are pretty strict as a lender, which seems to go against the "accept everyone" premise. My personal experience with Barclays is that they are a fairly conservative lender, which (if common) is also a tough proposition for people who want to finance expensive Apple products.

As World King, I would make Chase take on the Apple card AND create a competitive HYSA for everyone.

[sccredit]

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@quickstep_knoll wrote:

Synchrony doesn't seem like the right partner for Apple. I think a bad card experience risks diluting Apple's brand (though they will be fine).

Barclays is more interesting, on brand, but are pretty strict as a lender, which seems to go against the "accept everyone" premise. My personal experience with Barclays is that they are a fairly conservative lender, which (if common) is also a tough proposition for people who want to finance expensive Apple products.

As World King, I would make Chase take on the Apple card AND create a competitive HYSA for everyone.

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I disagree. Synchrony is the right fit for the Apple card because of the "accept anyone" premise and they already offer high yield savings products (yes, Barclays does as well).

[Tdatb64]

The thing is, the FI's normal policies don't apply to many co-branded cards. The co-brand negotiates the terms the FI will use for their card. We already know the Chase Amazon Prime card is exempted from 5/24 and probably has other relaxed requirements because it does Amazon no good if their card is hard to get. Whoever wants Apple's business will have to agree to most of Apple's terms. I think Apple is far more likely to want to be associated with Barclay's than with Synchrony but it will likely depend on who is more willing to cave-in to Apple's demands.

Makes no difference to me, though, as Apple is just a fruit or The Beatles' record label in my life.

[IsambardPrince]

I wonder how they'll get others to take on the people who open a credit card, don't have any money, fill it up with an iPhone and some earbuds that somehow cost over $2500 total and a Macbook for $3000, and toss the card over their shoulders. 

There's obviously a lot of people out there that don't even care how they'll eat when the bank sues them, they just want an iPhone now, I guess.

Goldman walked right into it, I wonder who else will.

[CMH90]

This makes me wonder if it was Apple or Barclays that wanted out of their original deal. The OG Apple Rewards card from Barclays was way more lax on approvals than the rest of their cards back in the day.

[Spotsy]

It would not surprise me if Apple picks up 2 new partners for the Apple Card.

Synchrony to issue an Apple 'store / iTurnes only' closed loop card....and Chase or Barclays for the MC version .  Barclays does not make sense sthough , Would not surprise me if it's setup like Amazon (2 issuers for 2 different type cards).

It would not surprise me if Apple bought the Barclays US Card operations, offloaded the existing  Barclays card portfolio to Chase...and use the newly acquired Barclays US operations to run their M/C  and Savings account business.

This is Apple....they have the money to do almost whatever they want.