Apple Card users have been issued $10 billion in credit
As of Sept. 30, 2019, Goldman Sachs has issued $10 billion in credit lines to Apple Card users.
- The card began rolling out to select users Aug. 6 with it becoming fully available Aug. 20.
- Apple, meanwhile, has been excitedly announcing the it was the “most successful credit card launch ever,” though didn’t offer any direct evidence for that assertion.
- It’s also hard to compare that claim to other cards because most credit card issuers don’t break down data by specific cards.
- Meanwhile, Apple Card holders have racked up $736 million in loan balances by Sept. 30, pointed out Bloomberg.
- Apple Card is a MasterCard issued by Goldman Sachs, which has made it a goal to build its consumer financial business.
- Apple Card is a physical, titanium card and, of course, works with contactless Apple Pay enabled POS terminals as well as compatible online stores when shoppers are using an Apple device and Safari browser.
- In addition, each Apple Card also has a “virtual” card number that can be used anywhere that accepts MasterCard — namely online stores, but requires keying in the data by hand.