💳 Sebby’s Card Picks:
Click “Show More” to see Ad Disclosure
Timeline
0:00 Apple Card background
0:50 Credit levels
4:09 What this means for us
10:14 What happens next?
Articles referenced:
pymnts.com/earnings/2022/jpmorgan-adds-1-billion-dollars-loan-loss-reserves-economic-threats-mount/
pymnts.com/earnings/2023/jpmorgan-braces-for-recession-as-credit-loss-provisions-jump-49/
ft.com/content/4aa2c82e-e8af-4c94-9048-58862a5477bf
finance.yahoo.com/news/bank-earnings-loan-loss-provisions-reserves-strategist-says-112609753.html
reuters.com/business/finance/bank-america-beats-fourth-quarter-profit-estimates-2023-01-13/
Securely browse the internet:
🦈 83% Off + 3 Months Free VPN Deal:
Free Stocks & 💸:
📈 Get 2 Free Stocks on WeBull when you deposit $100 (limited time offer):
💸 Get 1 Free Stock on Robinhood w/ any deposit:
💰 Get $10 in Free Stock from Public:
💰 Get $10 in free BTC on Coinbase w/ $100 deposit:
🛍️ Get a $20 Bonus after spending $20 at Rakuten:
🎥 My Entire YouTube Camera and Recording Equipment:
Advertiser Disclosure: Some of the card links and other products that appear on this website are from companies which AskSebby will earn an affiliate commission or referral bonus. AskSebby is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers.
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available
Follow us for updates:
YouTube Subscribe:
Newsletter:
Facebook:
Twitter:
Instagram:
Mandy’s YouTube:
Mandy’s Instagram:
25 comments
💳 Sebby's Card Picks: https://www.asksebby.com/credit-cards
🍎
Sebby, do you forsee a decrease in limits or an inability to increase limits for superprime customers?
I was hoping to PC my CSP to and CSR next month and get a CLI, but this vedeo makes it sound like I'm in for disappointment.
I have the Gm card and was concerned about GS portolio with the Apple card. If my card does go to Synchroney im ok with that because they love me.
I like my Apple Card for quick touch less payments and Apple services
🍎 this card was never good, honestly not sure why anyone got it…
🍎
🍎 you are amazing . I’m old but every young adult should be forced to watch
🍎 Great video. I have had the Apple Card since it came out. I haven’t had a CLI on it in over a year. I just requested one and was denied for not enough recent usage. Balance was at $0.
Kinda makes me glad I didn’t rush the Apple Card application this month🍎
🍎Love the content! 👍🏼
🍎Nice skis back there. Anyway, this should enter a death spiral like the Uber card did. Another powerful tech brand whose card failed
This was very good! The prediction that the focus of the major bank players will be on Prime (especially super-prime) competition going fwd is spot on… they will have no choice🍎
I cancel the card. I have way more value with the chase trifecta that with the apple card.
Apple enthusiasts: Oh no!
Everyone else: Meh…so who is up for 🌮 tacos? I'm paying with Amex Gold or CSP.
🍎
🍎, i think they’ll stop taking new applications. i use it for 3% on apple products and for its ease of asking of CLI and for purchases made with apple pay for that 2% that don’t get on my other cards.
🍎🍏
🍎Great video as always Sebby! I think you're right when you intimate that Apple has G.S. over a barrel. I for one wouldn't want to operate a business on a loss.
Interesting video. We recently charged a prepaid vacation on one of our cards, the cost was $15k and the balance was paid in full when we were billed. In the interim, our credit score dropped 35 points. After the payment was posted our score did rebound to pre vacation change levels. I find this to be more than strange since we pay all cards we have in full every month and have done so for well over a decade. You thoughts?
🍎 hoping Chase doesn't cheapen out and keeps pushing to be the CC leader
🍎
Goldman Sacks (haha) do NOT know anything about consumer banking/credit cards. I know for a fact they do not base Apple Card approval on credit scores at all, otherwise a friend and me wouldn't have been rejected with our >800 credit scores and explains their high losses. They should have poached high ranking Amex and Chase execs familiar with the consumer/cc business before even trying to build that division. Apparently their Marcus premium consumer client business is a total bust too.
I think Apple will keep Goldman Sachs but also add Synchrony. Amazon does this already, when you apply for the Prime card it goes through Chase but if you don’t qualify you get one with Synchrony instead.
🍎Do you believe acquiring the Citi TY Premier now would disqualify oneself from the Sentra if it is released later this year?
🍎I’m super-prime, what a nice compliment from the financial system🍎