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The Apple Card Savings account still pays a higher APY than the average savings account. Apple has dropped the interest rate on its Apple Card Savings account for the first time in 2024. The Apple Card Savings account is available for Apple Card users in the U.S. You can set it up and manage it through the Apple Card in the Wallet app on iPhones. How the Apple Card Savings account worksThe Apple Card Savings account doesn't require a minimum opening deposit. While the interest rate on the Apple Card Savings Account has dropped for the first time in 2024, it still pays a significantly higher rate than a traditional savings account.
Persons: Apple, , Cash, Jennifer Bailey, Daily Cash, Goldman Sachs Organizations: Apple, Savings, Service, Apple Card Savings, Apple Card, Daily, FDIC, Federal Deposit Insurance Corporation Locations: U.S
The Apple Card Savings account already paid a higher APY than the average savings account. Apple has increased the interest rate on its Apple Card Savings account for the third time since December. The Apple Card Savings account is available for Apple Card users in the U.S. You can set it up and manage it through the Apple Card in the Wallet app on iPhones. How the Apple Card Savings account worksThe Apple Card Savings account doesn't require a minimum opening deposit. Products in this post: Apple Card, Apple Savings Account, Ally Savings Account, Discover® Online Savings Account, BrioDirect High-Yield Savings Account, Customers Bank High Yield Savings Account, UFB Secure Savings, CIT Bank Platinum Savings, Wealthfront Cash Account
Persons: Goldman Sachs, Cash, Jennifer Bailey, Daily Cash, Ally Organizations: Apple, Apple Card, Savings, Apple Card Savings, Daily, FDIC, Federal Deposit Insurance Corporation, CIT Bank, CIT, Products, Apple Savings, Secure Savings Locations: U.S
New York CNN —Apple on Monday announced that it is now offering its Apple Card holders a 4.15% high-yield savings account with Goldman Sachs. They may park both the 3% cash back they receive from using the Apple Card on select purchases plus other savings they may wish to deposit. For instance, you can only get an Apple Card if you use an Apple phone. Bankrate gives the Apple Card high marks as a no-fee rewards credit card, and the convenience of having a high-yield savings account for a cardholder’s cash rewards may be appealing. A high-yield savings account rate, by contrast — including Apple’s new offering — can move up or down without notice at any time.
Apple has a new high-yield savings account from Goldman Sachs available for Apple Card users. The Apple Card Savings account pays a higher APY than the average savings account. The Apple Card Savings account is available for Apple Card users in the US. How the Apple Card Savings account worksThe Apple Card Savings account doesn't require a minimum opening deposit. Interest on the Apple Card Savings account is compounded daily and deposited into your account monthly.
Apple Pay Later could help increase demand for iPhones, one analyst said. Jennifer Bailey, Apple's vice-president of Apple Pay and Apple Wallet, said the move was a response to consumer demand for flexible payment options. Enhancing the Apple ecosystemSelect users are being invited to use a prerelease version of Apple Pay Later, with plans to widen access later this year. Analysts say Apple Pay Later is more about increasing the convenience of Apple Pay and enhancing its ecosystem than an attempt to dominate the BNPL arena. Holubowskyj believes Apple has an opportunity to benefit from Apple Pay Later by increasing uptake of Apple Pay down the line as it expands into other markets.
Apple launched its own buy now, pay later service this week. The system is integrated into the company's existing Apple Pay setup, meaning merchants won't have to opt-in to provide Apple Pay Later to customers, according to the company. "Many people are looking for flexible payment options, which is why we're excited to provide our users with Apple Pay Later." The study also found that those who are younger and with lower income are more likely to use buy now pay later services. "A common misconception of Buy Now, Pay Later borrowers is that they lack access to other forms of credit.
Apple launches buy now, pay later service
  + stars: | 2023-03-28 | by ( Jennifer Korn | ) edition.cnn.com   time to read: +2 min
New York CNN —Apple on Tuesday launched an option in its digital wallet allowing customers to pay for online purchases in installments, making it the latest company to embrace the buy now, pay later trend. The new feature, called Apple Pay Later, lets customers split payments for purchases into four installments over six weeks, with the first installment due at the time of purchase. Apple users can also apply for a loan within the Wallet app, ranging from $50 to $1000, with no interest or fees, to make online or in-app purchases. Apple’s move comes as a growing number of consumers have turned to buy now, pay later services to stretch their budgets at a time of high inflation and broader economic uncertainty. Apple’s Pay Later option is enabled through the Mastercard Installments program.
The former Time Warner Cable exec is driving Apple's subscription businesses including TV+, Sports, and Apple One. But inside and outside the tech giant, people are eyeing one cable TV alum who is being positioned for bigger things under Eddy Cue, the company's longtime Services SVP. As VP, Services, Stern is responsible for running strategy and operations for multiple growth businesses inside Apple. Here's how Stern ascended from cable TV to the top of the tech giant, and what his moves mean for the future of Apple Services. He appeared on stage in 2019 as the frontman for the Apple TV app, in a pair of dark-wash jeans and an untucked gray button-down.
The former Time Warner Cable exec is driving Apple's subscription businesses including TV+, Sports, and Apple One. As VP, Services, Stern is responsible for running strategy and operations for multiple growth businesses inside Apple. Here's how Stern ascended from cable TV to the top of the tech giant, and what his moves mean for the future of Apple Services. A third former high-placed Time Warner Cable alum also recalled this exchange. He appeared on stage in 2019 as the frontman for the Apple TV app, in a pair of dark-wash jeans and an untucked gray button-down.
The company announced Apple Card users could automatically deposit cash-back rewards into a high-yield savings account. On Thursday, Apple announced it would start allowing Apple Card users to automatically deposit Daily Cash, which is what Apple calls its cash-back rewards program, into a high-yield savings account from Goldman Sachs. "Savings enables Apple Card users to grow their Daily Cash rewards over time, while also saving for the future," said Apple executive Jennifer Bailey in a statement announcing the savings product. The big tech company first announced its credit card with Goldman Sachs in March 2019, advertising it as "created by Apple, not a bank," despite Goldman Sachs, a bank, reportedly spending about $300 million on the card's development. As of the latest estimates from 2021, 6.4 million people use Apple's card, a significantly smaller number than credit card giants Mastercard and Visa.
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