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Kudos (?) to the team. My guess is that they will want to roll out their own credit score system when paying by installments, rather than rely on Barclays as th

by jxub 4y ago

Kudos (?) to the team. My guess is that they will want to roll out their own credit score system when paying by installments, rather than rely on Barclays as the credit broker as they currently do.

tksb 4y ago
As far as I know the Barclays partnership ended at least a few years ago. Apple Card was launched with Goldman Sachs.
- mcintyre1994 4y ago
  I bought a new iPhone with Apple's 0% interest financing in the UK in December, and the financing is provided by Barclays. Goldman Sachs doesn't have much of a presence in the UK yet, only Marcus AFAIK and no credit products.
  - vineyardmike 4y ago
    Goldman doesn’t have much of a consumer presence anywhere. Only Marcus is their consumer facing side (besides Apple Card). In America apple doesn’t use Goldman for their financing of products unless it’s financed via Apple Card.
- traceroute66 4y ago
  > As far as I know the Barclays partnership ended at least a few years ago. Apple Card was launched with Goldman Sachs As far as the UK is concerned, neither. There is no Apple Card in the UK (or indeed Europe for that matter, AFAIK).
  - tksb 4y ago
    You're totally right, thanks! I read right past the UK in the headline.
- RossM 4y ago
  At least in the UK, all financing arrangements for phones, laptops are with Barclays and PayPal Credit https://www.apple.com/uk/shop/browse/financing https://www.apple.com/uk/shop/browse/financing
crate_barre 4y ago
own credit score system when paying by installments These are good ideas. Many people have debt from all kind of life issues and it kind of seems insane to lock them out of financing for … a phone or the like. The credit score system is the OG social credit system that China ain’t got nothing on.
- toomuchtodo 4y ago
  There is a lot of opportunity in issuing credit to folks with thin or no credit files where you can rely on other signals to determine creditworthiness, and it’s win win. The lender makes a profit, and the borrower is able to obtain credit they otherwise wouldn’t be able to, or credit at a lower cost.
  - crate_barre 4y ago
    So I’ve heard but for the thing that really matters, renting and certainly buying a home, you are more or less fucked (at least for the 7 years they put you in financial jail).
    - deleted 4y ago
      [deleted]
    - toomuchtodo 4y ago
      The mortgage banking origination pipeline, mortgage backed securities, and the housing/wage macro situation is a topic onto itself.
    - NovemberWhiskey 4y ago
      That's certainly not true. I relocated to the U.S. in 2015 with zero credit history, and was able to get a jumbo mortgage in 2016 because I worked with a lender that was willing to look beyond a credit file with zero seasoned tradelines.
      - crate_barre 4y ago
deleted 4y ago
[deleted]

by jxub 4y ago

Kudos (?) to the team. My guess is that they will want to roll out their own credit score system when paying by installments, rather than rely on Barclays as the credit broker as they currently do.

tksb 4y ago

As far as I know the Barclays partnership ended at least a few years ago. Apple Card was launched with Goldman Sachs.

mcintyre1994 4y ago
I bought a new iPhone with Apple's 0% interest financing in the UK in December, and the financing is provided by Barclays. Goldman Sachs doesn't have much of a presence in the UK yet, only Marcus AFAIK and no credit products.
- vineyardmike 4y ago
  Goldman doesn’t have much of a consumer presence anywhere. Only Marcus is their consumer facing side (besides Apple Card). In America apple doesn’t use Goldman for their financing of products unless it’s financed via Apple Card.
traceroute66 4y ago
> As far as I know the Barclays partnership ended at least a few years ago. Apple Card was launched with Goldman Sachs As far as the UK is concerned, neither. There is no Apple Card in the UK (or indeed Europe for that matter, AFAIK).
- tksb 4y ago
  You're totally right, thanks! I read right past the UK in the headline.
RossM 4y ago
At least in the UK, all financing arrangements for phones, laptops are with Barclays and PayPal Credit https://www.apple.com/uk/shop/browse/financing https://www.apple.com/uk/shop/browse/financing

crate_barre 4y ago

own credit score system when paying by installments These are good ideas. Many people have debt from all kind of life issues and it kind of seems insane to lock them out of financing for … a phone or the like. The credit score system is the OG social credit system that China ain’t got nothing on.

toomuchtodo 4y ago
There is a lot of opportunity in issuing credit to folks with thin or no credit files where you can rely on other signals to determine creditworthiness, and it’s win win. The lender makes a profit, and the borrower is able to obtain credit they otherwise wouldn’t be able to, or credit at a lower cost.
- crate_barre 4y ago
  So I’ve heard but for the thing that really matters, renting and certainly buying a home, you are more or less fucked (at least for the 7 years they put you in financial jail).
  - deleted 4y ago
    [deleted]
  - toomuchtodo 4y ago
    The mortgage banking origination pipeline, mortgage backed securities, and the housing/wage macro situation is a topic onto itself.
  - NovemberWhiskey 4y ago
    That's certainly not true. I relocated to the U.S. in 2015 with zero credit history, and was able to get a jumbo mortgage in 2016 because I worked with a lender that was willing to look beyond a credit file with zero seasoned tradelines.
    - crate_barre 4y ago

deleted 4y ago

[deleted]