Yes. Interest rates change. The Apple Goldman Sachs account is competitive but certainly not one of the highest paying. Smaller online banks tend to pay higher rates to attract depositors.
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Apple Card High-Yield Savings Account Getting Yet Another Interest Rate Cut
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Esp compared to other savings accounts, they really should renamed it to "Apple Just-Kinda-Ok Yield Savings Account"
PayPal is a better rate.
All deposits get loaned out 10 times so such lowering of rates is ridiculous.
All deposits get loaned out 10 times so such lowering of rates is ridiculous.
Find the best CD out of the banks you already have accounts with, and park your money in there.
Or give it with one of the Fidelity index funds.
I'd rather roll up my money in a dirty sock than give it to PayPal.
I just use the Apple/GS savings account as a piggy bank for my Apple Pay Cash back.
Capital One is my main bank and they have a savings rate about what Apple Savings is. I prefer to have my main savings in the same bank as my checking account so I can instant transfer the money if I need it. If you are in another bank with savings, could take days to get the cash and if you are in a bind, that would suck.
Capital One is my main bank and they have a savings rate about what Apple Savings is. I prefer to have my main savings in the same bank as my checking account so I can instant transfer the money if I need it. If you are in another bank with savings, could take days to get the cash and if you are in a bind, that would suck.
The way the interest rate fluctuations are covered by Macrumors is so strange.
Would be cool if Apple Card somehow invested your balance in Apple shares, like some kind of algorithm effectively makes fractional trades on your behalf or something whenever you deposit or withdraw money.
Telling most of the people on here never to have (blind) loyalty to any company... good luck with that
This is an amazing reveal of ignorance:
-The market cap does not not reflect much money the company retained, generates, or otherwise have access to. It means nothing unless the company dilutes itself.
-The card is issued by GS, not by Apple.
-Companies, such as GS, needs to be competitive. If GS pays out more to retail depositors than it could earn from deposits with the Fed, it would go out of business. This is why all the other retail banks are lowering their rates. This is how the credit works in a market: rates are related.
It has 1.6 T in assets.
But also 1.5 T in liabilities.
The collective owners of Goldman Sachs - including you, me, your local schoolteacher that has a retirement account in a fund that owns some of Goldman Sachs - do not just have free access to $2T or even $1.6T in a corporate treasury like an unencumbered pot of cash.
CDs aren’t much higher than what this card has been offering. I moved most of the money to the card savings cus it’s just easier
unless you live in a no income tax state you should not be using any HYSA. put the cash in a brokerage and buy 1 year treasuries at 4.20 and you pay no state tax. super liquid.